Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data IM Cannabis Corp. files with the SEC in its annual reports.
In CAD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
9.07
15.9
34.1
54.3
48.8
54
54.7
Cost of revenue
4.76
7.08
25.5
43
38
45.6
45
Gross profit
3.93
10.5
6.33
9.16
9.85
8.45
9.69
Research and development
0.23
0.14
Operating income
-10.3
-8.25
-23
-30.8
-12.8
-10.2
-11.6
Interest expense
0.71
20.5
0.67
1.97
3.67
4.77
3.5
Interest income
3.65
0.28
23.5
6.7
7.01
2.21
3.43
Pre-tax income
-7.33
-28.5
-0.16
-26.1
-9.46
-12.8
-11.7
Income tax
0.09
0.26
0.5
-1.14
0.77
-1.02
0.09
Income from continuing operations
-28.7
-0.66
-24.9
-10.2
-11.8
Net income to minority interests
-0.13
-0.04
-0.76
-2.41
-0.73
-1.19
-0.43
Net income
-7.29
-28.7
-17.8
-189
-9.5
-10.6
-11.3
EBITDA
-9.67
-7.32
-20.9
-28
EPS, basic
-3.54
-11.40
-18.36
-157.83
-4.45
-4.51
EPS, diluted
-3.54
-11.40
-40.20
-161.88
-4.45
-4.51
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
13.9
8.89
13.9
2.45
1.81
0.86
2.73
Short-term investments
0
3.13
Receivables
0.52
0.69
14.5
3.32
4.83
5.42
4.32
Inventory
5.42
8.37
29.4
16.6
9.98
3.22
4.27
Total current assets
24.3
27.1
81.2
32.7
24.3
23.4
22.7
Property, plant and equipment
3.39
5.53
30.3
5.22
5.06
3.73
3.71
Lease right-of-use assets
1.02
0.94
18.2
1.93
1.31
0.45
0.4
Goodwill
0.3
0.3
121
9.77
10.1
6.68
1.89
Intangible assets
0.89
1.09
30.9
7.91
5.8
3.33
1.22
Total assets
30.9
38.1
287
60.7
48.8
39.2
31.7
Short-term debt
0
9.5
9.25
12.1
15.1
14.3
Total current liabilities
2.61
6.27
51.2
33.8
32.8
34.9
34
Lease liabilities
0.89
0.82
17.8
1.08
0.82
0.17
0.05
Total liabilities
4.79
25.5
82.4
36.9
35.1
36
35.4
Total debt
12.5
15.6
15.3
Retained earnings
-4.27
-33
-50.7
-240
-249
-259
-270
Shareholders' equity
24.7
11.1
201
22.7
14.5
5.24
-3.73
Minority interests
1.45
1.51
3.71
1.15
-0.77
-2.1
0.12
Total equity
26.1
12.6
205
23.8
13.7
3.15
-3.62
Total liabilities and equity
30.9
38.1
287
60.7
48.8
39.2
31.7
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-7.42
-28.7
-18.5
-191
-10.2
-11.8
-11.8
Depreciation and amortization
0.6
0.93
2.13
2.82
Cash from operations
-5.96
-7.92
-34.4
-12.6
-8.08
-1.08
4.72
Capital expenditures
-1.55
-2.62
-4.58
-1.56
-0.58
-0.16
-0.01
Cash from investing
-3.78
-4.08
-9.01
-1.53
-1.18
-0.47
-0.53
Debt issued
0
7.8
9.64
5.48
2.62
3.27
Debt repaid
-0.95
0
0
-4.98
-4.83
-3.83
-1.81
Stock issued
15.6
0
28.1
3.76
1.69
0.94
5.07
Cash from financing
17.1
6.74
48.7
4.76
9.42
3.83
1.15
Exchange rate effect
-0.98
0.21
-0.33
-2.04
-0.8
-3.23
-3.47
Net change in cash
6.34
-5.04
5.02
-11.5
-0.64
-0.95
1.86
Free cash flow
-7.51
-10.5
-39
-14.2
-8.66
-1.23
4.7
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.
Profitability
Metric
Value
How it is calculated
Gross margin
17.7%
Gross profit / revenue.
Operating margin
-21.2%
Operating income / revenue.
Pre-tax margin
-21.3%
Pre-tax income / revenue.
Net margin
-20.7%
Net income / revenue.
FCF margin
8.6%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
8.6%
Cash from operations / revenue.
Return on assets (ROA)
-31.9%
Net income / average total assets.
Return on invested capital (ROIC)
-63.6%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue
0.0%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
1.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
0.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
28.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
14.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
1.9%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
-1.5%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-171.1%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-19.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-19.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-3.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.67x
Current assets / current liabilities.
Quick ratio
0.21x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.08x
(Cash + short-term investments) / current liabilities.
Debt / assets
48.1%
Total debt / total assets.
Liabilities / assets
111.4%
Total liabilities / total assets.
Net debt
CA$12.5M
Total debt - cash - short-term investments. Negative means more cash than debt.
Capital expenditures / cash from operations, when that is positive.
What was IM Cannabis Corp.'s revenue in fiscal 2025?
IM Cannabis Corp. reported revenue of CA$54.7M for fiscal 2025, 1.3% higher than the year before.
Was IM Cannabis Corp. profitable in fiscal 2025?
No. It reported a net loss of CA$11.3M.
How much free cash flow did IM Cannabis Corp. generate in fiscal 2025?
Cash from operations of CA$4.7M minus capital expenditures of CA$13.0K left free cash flow of CA$4.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.