Im Cannabis Corp ( (IMCC) ) has released its Q3 earnings. Here is a breakdown of the information Im Cannabis Corp presented to its investors.
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IM Cannabis Corp. is an international cannabis company that specializes in providing premium cannabis products to medical patients in Israel and Germany, leveraging a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain.
In its third quarter of 2024, IM Cannabis reported a 12% increase in revenue to $13.9 million, alongside a significant 16% reduction in total operating expenses. The company attributes these improvements to growth in Germany and a strategic focus on building a solid foundation for future operations.
Key financial highlights include a 41% decrease in selling and marketing expenses and a notable 68% reduction in EBITDA loss to $0.5 million. The company also achieved a 25% improvement in its operational expense ratio, reflecting enhanced efficiency. Despite a net loss of $1.1 million, this represents a 48% reduction from the previous year, highlighting the company’s efforts to streamline operations.
Looking forward, IM Cannabis management emphasizes their focus on efficient resource management and building a strong supply chain to support their operations in 2025. The company remains committed to its goals of responsible growth and compliance in the medical cannabis markets of Israel and Germany.
