Im Cannabis Corp ( (IMCC) ) has released its Q3 earnings. Here is a breakdown of the information Im Cannabis Corp presented to its investors.
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.
