Sector: Healthcare | Industry: Pharmaceuticals |
Company Contact | |
Address: | 1 Adelaide Street East, Unit 801 TORONTO ISLAND ON M5C 2V9 |
Tel: | N/A |
Website: | https://imcannabis.com |
IR: | See website |
Key People | ||
Oren Shuster Chairman, Chief Executive Officer | Marc Lustig Executive Chairman of the Board | Uri Birenberg Chief Financial Officer |
Richard Balla CEO of Subsidiary | Michael Ruscetta Chief Executive Officer of Trichome Financial Corp | Howard Steinberg Chief Executive Officer of Trichome JWC Acquisition Corp and MYM Nutraceuticals Inc | Yael Harrosh Chief Legal and Operations Officer |
Business Overview |
IM Cannabis Corp. is a Canada-based medical cannabis company. The Company operates in Israel through its commercial relationship with Focus Medical Herbs Ltd. (Focus Medical), which has a cultivation license to breed, grow and supply medical cannabis products in Israel. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centres and logistical hubs in Israel. The Company operates through Adjupharm GmbH in Europe, which is a medical cannabis producer and distributor with wholesale, narcotics handling, manufacturing, procurement, storage, and distribution licenses granted by German regulatory authorities that allow for import/export capability with requisite permits. The Company operates through Trichome and its subsidiaries Trichome JWC Acquisition Corp. and MYM Nutraceuticals Inc., where it cultivates and processes cannabis for the adult-use market at its Ontario and Nova Scotia facilities under the WAGNERS and Highland Grow brands. |
Financial Overview |
For the fiscal year ended 31 December 2023, IM Cannabis Corp revenues decreased 10% to C$48.8M. Net loss before extraordinary items decreased 58% to C$9.5M. Revenues reflect Israel segment decrease of 14% to C$43.3M. Lower net loss reflects General and administrative expenses decrease of 49% to C$11M (expense), Restructuring expenses decrease of 86% to C$617K (expense). |
Employees: | 95 as of Dec 31, 2023 |
Reporting Currency: | Canadian Dollars |
Enterprise value: | $21.21M as of Dec 31, 2023 |
Annual revenue (TTM): | $48.80M as of Dec 31, 2023 |
EBITDA (TTM): | -$9.18M as of Dec 31, 2023 |
Net annual income (TTM): | -$9.50M as of Dec 31, 2023 |
Free cash flow (TTM): | -$8.66M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $11.97M as of Dec 31, 2023 |
Shares outstanding: | 13,394,136 as of Mar 28, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |