IM Cannabis Corp. (IMCC) Income Statement
IMCC 2025 at a glance
Fiscal year ended December 31, 2025 · Canadian dollarsIMCC revenue and net income
Where IMCC's revenue goes
2025Each bar shows an amount and its share of revenue. IMCC kept −20.7% of revenue as net income.
IMCC profit margins
IMCC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.3% | +0.2% | +28.1% | — |
| Gross profit | +14.6% | +1.9% | −1.5% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IMCC income statement in Canadian dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$54.7M | C$54.0M | C$48.8M | C$54.3M | C$34.1M | C$15.9M | C$9.1M | C$5.2M | C$4.4M | C$0 |
| Cost of revenue | C$45.0M | C$45.6M | C$39.0M | C$45.2M | C$27.7M | C$5.4M | C$5.1M | C$999,000 | C$1.6M | — |
| Gross profit | C$9.7M | C$8.5M | C$9.8M | C$9.2M | C$6.3M | C$10.5M | C$3.9M | C$4.2M | C$2.8M | — |
| Research & development | — | — | — | — | C$11,000 | C$136,000 | C$233,000 | C$83,000 | — | — |
| Sales, general & admin | C$12.9M | C$13.3M | C$19.0M | C$28.9M | C$28.1M | C$18.7M | C$10.3M | C$2.5M | C$124,905 | C$15,250 |
| Total operating expenses | C$21.3M | C$18.7M | C$22.6M | C$40.0M | C$29.4M | C$18.7M | C$14.2M | C$2.7M | C$124,905 | C$15,250 |
| Operating income | −C$11.6M | −C$10.2M | −C$12.8M | −C$30.8M | −C$23.0M | −C$8.2M | −C$10.3M | C$3.1M | −C$124,970 | −C$15,250 |
| Interest income | — | C$1.9M | C$5.8M | C$6.7M | C$22.0M | C$277,000 | C$3.7M | — | — | — |
| Interest expense | C$2.8M | C$4.5M | C$3.7M | C$2.0M | C$673,000 | C$20.5M | C$707,000 | C$84,000 | C$65 | C$500 |
| Income before taxes | −C$11.7M | −C$12.8M | −C$9.5M | −C$26.1M | −C$164,000 | −C$28.5M | −C$7.3M | C$3.4M | −C$124,970 | −C$15,750 |
| Income taxes | C$92,000 | −C$1.0M | C$771,000 | −C$1.1M | C$500,000 | C$262,000 | C$90,000 | C$741,000 | C$65 | −C$22,816 |
| Net income | −C$11.3M | −C$10.6M | −C$9.5M | −C$188.9M | −C$17.8M | −C$28.7M | −C$7.3M | C$1.7M | −C$124,970 | −C$15,750 |
| EBITDA | −C$6.9M | −C$6.1M | −C$2.8M | −C$16.8M | C$6.2M | −C$7.0M | −C$6.0M | C$3.3M | −C$124,970 | −C$15,250 |
| Gross margin | 17.7% | 15.6% | 20.2% | 16.9% | 18.6% | 65.9% | 43.3% | 80.8% | 63.8% | — |
| Operating margin | −21.2% | −18.9% | −26.2% | −56.7% | −67.6% | −51.9% | −113.2% | 59.3% | −2.8% | — |
| Net margin | −20.7% | −19.6% | −19.5% | −347.6% | −52.2% | −180.6% | −80.4% | 32.4% | −2.8% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$7.6M | C$8.7M | C$11.2M | C$13.9M | C$12.7M | C$12.5M | C$13.3M | C$13.9M | C$14.8M | C$12.1M | C$10.7M | C$12.4M |
| Cost of revenue | C$6.1M | C$7.3M | C$11.2M | C$11.1M | C$9.3M | C$9.1M | C$10.7M | C$10.7M | C$13.9M | C$10.3M | C$9.9M | C$9.7M |
| Gross profit | C$1.5M | C$1.4M | C$58,808 | C$2.7M | C$3.4M | C$3.4M | C$2.7M | C$3.1M | C$844,000 | C$1.8M | C$841,000 | C$2.6M |
| Sales, general & admin | C$3.6M | C$3.1M | C$4.7M | C$3.8M | C$3.8M | C$3.3M | C$7.4M | C$2.6M | C$2.3M | C$4.7M | C$8.3M | C$2.3M |
| Total operating expenses | C$3.6M | C$3.1M | C$2.9M | C$6.9M | C$3.8M | C$3.3M | C$22.4M | C$2.2M | −C$2.0M | C$7.4M | C$6.0M | C$386,000 |
| Operating income | −C$2.1M | −C$1.7M | −C$2.8M | −C$4.2M | −C$350,000 | C$158,000 | −C$19.7M | C$953,000 | C$2.9M | −C$5.6M | −C$5.2M | C$2.3M |
| Interest income | — | — | — | C$1.1M | C$1.9M | — | — | — | C$35,000 | — | C$6.8M | C$869,000 |
| Interest expense | C$2.9M | C$832,000 | C$622,508 | C$495,165 | C$1.8M | C$12,000 | C$478,000 | C$155,000 | C$1.4M | C$501,000 | — | C$742,123 |
| Income before taxes | −C$4.4M | −C$2.5M | −C$5.6M | −C$3.7M | −C$220,000 | C$146,000 | −C$1.3M | −C$1.1M | −C$4.3M | −C$6.1M | −C$2.7M | −C$2.0M |
| Income taxes | −C$47,000 | −C$41,000 | C$4,303 | C$141,000 | −C$26,000 | −C$29,000 | −C$47,000 | −C$26,000 | −C$839,000 | −C$111,000 | C$821,000 | C$125,000 |
| Net income | −C$4.4M | −C$2.3M | −C$5.5M | −C$3.7M | −C$309,000 | C$275,000 | −C$1.0M | −C$922,000 | −C$3.0M | −C$5.6M | −C$3.3M | −C$2.1M |
| EBITDA | −C$966,671 | −C$1.2M | −C$2.4M | −C$3.7M | C$2.0M | C$621,000 | −C$1.1M | −C$502,000 | −C$2.4M | −C$4.9M | C$2.0M | −C$1.6M |
| Gross margin | 19.8% | 16.3% | 0.5% | 19.7% | 27.0% | 27.6% | 20.1% | 22.7% | 5.7% | 14.7% | 7.9% | 21.4% |
| Operating margin | −27.5% | −19.3% | −25.1% | −30.0% | −2.8% | 1.3% | −147.6% | 6.9% | 19.5% | −46.7% | −48.3% | 18.3% |
| Net margin | −57.5% | −26.2% | −48.7% | −26.4% | −2.4% | 2.2% | −7.6% | −6.6% | −20.5% | −46.6% | −30.7% | −17.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported in IMCC's financial statements (latest annual report filed March 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IMCC financial results
In fiscal year 2025 (ended December 31, 2025), IM Cannabis reported revenue of C$54.7 million, up 1.3% from the year before. It had a net loss of C$11.3 million, a net profit margin of −20.7%. Over five years revenue grew at an average rate of 28.1% a year. Figures are in Canadian dollars, the currency of its financial statements.
See the IMCC stock overview for the latest quote and news, or the IMCC chart for price history and technical indicators.
IMCC income statement FAQ
What is IM Cannabis's annual revenue?
IM Cannabis reported total revenue of C$54.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 1.3% from C$54.0 million the previous year.
Is IM Cannabis profitable?
No. IM Cannabis reported a net loss of C$11.3 million in fiscal 2025, a net profit margin of −20.7%; its operating margin was −21.2%.
What is IM Cannabis's gross margin?
IM Cannabis's gross margin was 17.7% in fiscal 2025: for every $100 of revenue, IM Cannabis kept $18 after the direct cost of its products and services.
How fast is IM Cannabis growing?
Revenue grew 28.1% a year on average over the last five fiscal years, from C$15.9 million to C$54.7 million.
When will IM Cannabis report its next earnings?
IM Cannabis is expected to report results for the quarter ending September 30, 2026 on November 12, 2026.
When does IM Cannabis's fiscal year end?
IM Cannabis's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 30, 2026.