NEW YORK and TORONTO, Aug. 14, 2024 /PRNewswire/ - iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company") (CSE:IAN) (OTCQB:ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, today reported its financial results for the second quarter ended June 30, 2024. The Company's Quarterly Report on Form 10-Q (the "Quarterly Report"), which includes its unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 2024 and the related management's discussion and analysis of financial condition and results of operations, can be accessed on the Securities and Exchange Commission's ("SEC's") website at www.sec.gov, on the System for Electronic Document Analysis and Retrieval's (SEDAR+) website at www.sedarplus.com, and on the Company's website at www.iAnthus.com. The Company's financial statements are reported in accordance with U.S. generally accepted accounting principles ("GAAP"). All currency is expressed in U.S. dollars. Second Quarter 2024 Financial Highlights Revenue of $43.0 million, a sequential increase of 3.5% from Q1 2024 and an increase of 11.1% from the same quarter in the prior year. Gross profit of $20.7 million, a sequential increase of 20.3% from Q1 2024 and an increase of 12.5% from the same quarter in the prior year. Gross margin of 48.1%, reflecting a sequential increase of 673bps when compared to Q1 2024 and an increase of 62bps from the same quarter in the prior year. Net loss of $9.8 million, or a net loss of less than $0.01 per share, compared to a net loss of $14.0 million, or a net loss of less than $0.01 per share in Q1 2024, and compared to a net loss of $20.1 million, or a net loss of $0.01 per share, in the same quarter in the prior year. Adjusted EBITDA(1) of $8.9 million, a sequential increase from an Adjusted EBITDA of $3.2 million in Q1 2024, and an increase from an Adjusted EBITDA of $3.9 million from the same quarter in the prior year. EBITDA and Adjusted EBITDA are non-GAAP measures. Reconciliation tables of EBITDA and Adjusted EBITDA as used in this press release to GAAP are included below. Table 1: Financial Results in thousands of US$, except per share amounts (unaudited) Q2 2024 Q1 2024 Q2 2023 Revenue $ 42,999 $ 41,564 $ 38,715 Gross profit 20,690 17,201 18,390 Gross margin 48.1 % 41.4 % 47.5 % Net loss (9,789) (13,998) (20,149) Net loss per share (0.00) (0.00) (0.00)   Table 2: Reconciliation of Net Loss to EBITDA and Adjusted EBITDA(1) in thousands of US$ (unaudited) Q2 2024 Q1 2024 Q2 2023 Net loss $ (9,789)