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IM Cannabis Corp (TSE:IMCC)
:IMCC
Earnings Data
Report Date
May 19, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.37Last Year’s EPS
-0.58Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 31, 2025
|% Change Since: -23.58%
|Next Earnings Date:May 19, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive sentiment overall, with significant growth and improvements in the German market, reduction in operating expenses, and a move towards positive EBITDA. However, challenges remain with decreased revenue in Israel, increased cost of sales, and a slight increase in net loss for the year.Company Guidance
In the fourth quarter of 2024, IM Cannabis achieved a significant turnaround, reporting an adjusted EBITDA gain of $0.5 million compared to a loss of $4.3 million in the same period of 2023, marking an improvement of nearly $5 million. The company's overall operating expenses were reduced by $4 million, or 17%, leading to a total of $18.7 million for the year, which builds on a 43% decrease in 2023. Revenue for 2024 increased by $5.2 million, reaching $54 million, primarily driven by a $10 million revenue surge in Germany, which now accounts for 40% of total revenue compared to 11% in 2023. This growth was attributed to the partial legalization of cannabis in Germany in April 2024 and the introduction of 11 new strains in the second half of the year. Despite a net loss of $11.8 million for 2024, the company improved its gross profit to $2.7 million in Q4, representing a 238% increase from Q4 2023. Additionally, the company successfully reduced its general and administrative expenses by 27% and its selling and marketing expenses by 34% year-over-year. As IM Cannabis looks to 2025, the focus will be on leveraging the integrated supply chain in Germany to drive further growth while maintaining operational efficiency.Extraordinary Growth in German Market
Following partial legalization in April 2024, the German market and IM Cannabis' sales in Germany experienced extraordinary growth. Sales increased by over 183% in 2024 compared to 2023, reaching $15.5 million, and Germany made up 40% of total revenue in the second half of 2024 versus 11% in all of 2023.
Improvement in EBITDA
The adjusted EBITDA in Q4 2024 was a gain of $0.5 million compared to a loss of $4.3 million in Q4 2023, marking an improvement of almost $5 million. For the full year, the adjusted EBITDA loss decreased from $8 million in 2023 to $1.1 million in 2024, an improvement of almost $7 million.
Significant Reduction in Operating Expenses
Operating expenses were reduced by $4 million or 17% in 2024 to a total of $18.7 million. This follows a previous reduction of 43% in 2023, resulting in a total decrease of 53% since 2022.
Successful Cost Management and Efficiency
The company achieved a decrease in operating expenses by approximately 42% in Q4 2024 compared to Q4 2023. G&A expenses and selling and marketing expenses also saw significant reductions of 27% and 34%, respectively, in 2024 compared to 2023.
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TSE:IMCC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:IMCC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 31, 2025 | C$2.46 | C$2.46 | 0.00% |
| Nov 14, 2024 | C$4.15 | C$3.93 | -5.30% |
| Aug 14, 2024 | C$4.32 | C$4.08 | -5.56% |
| May 08, 2024 | C$6.48 | C$6.30 | -2.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does IM Cannabis Corp (TSE:IMCC) report earnings?
IM Cannabis Corp (TSE:IMCC) is schdueled to report earning on May 19, 2025, TBA Not Confirmed.
What is IM Cannabis Corp (TSE:IMCC) earnings time?
IM Cannabis Corp (TSE:IMCC) earnings time is at May 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:IMCC EPS forecast?
TSE:IMCC EPS forecast for the fiscal quarter 2025 (Q1) is -0.37.
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