Cannabis Company iAnthus Q2 Revenue Grows 11.1% YoY, Trims Net Loss, Improves Working Capital Deficit
Portfolio Pulse from Nina Zdinjak
iAnthus Capital Holdings, Inc. (OTCQB: ITHUF) reported a strong Q2 2024 with a revenue increase of 11.1% YoY and a significant reduction in net loss. The company also improved its working capital deficit and reported a sequential increase in gross profit and adjusted EBITDA. iAnthus remains a going concern and expects to generate positive cash flow from operations in the near future. The stock closed 41.51% higher at $0.015 per share.
August 15, 2024 | 1:51 pm
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iAnthus Capital Holdings reported strong Q2 2024 results with an 11.1% YoY revenue increase and a significant reduction in net loss. The company also improved its working capital deficit and reported a sequential increase in gross profit and adjusted EBITDA. The stock closed 41.51% higher at $0.015 per share.
The strong financial performance, including revenue growth, reduced net loss, and improved working capital deficit, positively impacts investor sentiment. The significant stock price increase of 41.51% reflects this positive outlook.
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