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IM Cannabis Corp (TSE:IMCC)
:IMCC
Earnings Data
Report Date
Mar 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.54Last Year’s EPS
-1.5Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2024
|% Change Since: -26.75%
|Next Earnings Date:Mar 27, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant growth and operational efficiencies in the German market, offsetting challenges faced in Israel and the impact of the Oranim agreement cancellation. Despite a decrease in gross profit and an increase in net loss, the improvements in Germany and operational efficiencies suggest a strong foundation for future growth.Company Guidance
During the third quarter of 2024, IM Cannabis focused on establishing a strong foundation for future growth, particularly in the German market. The company's revenue increased by 12.2% compared to Q3 2023, driven by a remarkable 278% growth in German sales, reaching $5.8 million. This growth was facilitated by a strategic focus on Germany, where the market has expanded rapidly since partial legalization on April 1, 2024. The average selling price per gram of dried flower rose by 42% to $6.2 per gram, while operating expenses decreased by 16%, enhancing operational efficiency by 25%. The integration between the German and Israeli teams was pivotal, resulting in a 66% sales increase from Q2 to Q3 2024. Despite the challenges in the Israeli market, including a 10% decline in medical cannabis patients, the company achieved an overall revenue of $13.9 million for the quarter, demonstrating its ability to navigate a complex market landscape and lay the groundwork for sustainable growth in 2025.German Market Growth
Sales in Germany increased by 200% from Q1 to Q2 and by 66% from Q2 to Q3, reaching $5.8 million. The company is positioned among the top cannabis companies in Germany.
Overall Revenue Increase
Q3 2024 revenues increased by 12.2% versus Q3 2023, driven mainly by a 278% increase in the German revenue.
Operational Efficiency
Operating expenses decreased from $4.9 million in Q3 2023 to $4.1 million in Q3 2024, with an operating expenses ratio improvement from 40% to 30%, a 25% increase in efficiency.
Selling and Marketing Expense Reduction
Selling and marketing expenses for Q3 2024 were reduced by 41% compared to Q3 2023.
Improved EBITDA Loss
Non-IFRS adjustment EBITDA loss in Q3 2024 was $0.2 million compared to a loss of $1.3 million in Q3 2023, representing an 82% improvement.
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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 |
|---|---|---|---|
| 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% |
| Mar 28, 2024 | C$3.42 | C$3.78 | +10.53% |
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 Mar 27, 2025, TBA Not Confirmed.
What is IM Cannabis Corp (TSE:IMCC) earnings time?
IM Cannabis Corp (TSE:IMCC) earnings time is at Mar 27, 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 2024 (Q4) is -0.54.
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