IM Cannabis Corp. (IMCC) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IMCC SEC filings page.
IM Cannabis Corp. (IMCC) reported $39.9M in revenue for fiscal year 2025, up 6.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
IM Cannabis Corp. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
IM Cannabis Corp. scores -11.81, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $197.1M against total assets of $23.1M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
IM Cannabis Corp. passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
IM Cannabis Corp. reported a net loss of $8.3M while generating $3.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
IM Cannabis Corp. reported an operating loss of $8.5M against $2.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
IM Cannabis Corp. generated $39.9M in revenue in fiscal year 2025. This represents an increase of 6.4% from the prior year.
IM Cannabis Corp. reported a net loss of $8.3M in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Not reported for fiscal year 2025.
Cash & Balance Sheet
IM Cannabis Corp. generated $3.4M in free cash flow in fiscal year 2025, representing cash available after capex. The change from the prior year is not meaningful, because that figure was zero or negative.
IM Cannabis Corp. held $2.0M in cash against $683K in long-term debt as of fiscal year 2025, with $24.8M of liabilities due within a year.
Not reported for fiscal year 2025.
Margins & Returns
IM Cannabis Corp.'s gross margin was 17.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.1 percentage points from the prior year.
IM Cannabis Corp.'s operating margin was -21.2% in fiscal year 2025, reflecting core business profitability. This is down 2.2 percentage points from the prior year.
IM Cannabis Corp.'s net profit margin was -20.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.1 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
IM Cannabis Corp. invested $9K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 91.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
IMCC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F |
|---|---|---|---|---|---|---|---|
| Revenue | $39.9M+6.4% | $37.5M+1.5% | $37.0M-7.9% | $40.2M+50.7% | $26.7M+113.9% | $12.5M+78.0% | $7.0M |
| Cost of Revenue | $32.9M+3.8% | $31.7M+10.0% | $28.8M-9.6% | $31.8M+59.6% | $19.9M+258.9% | $5.6M+51.2% | $3.7M |
| Gross Profit | $7.1M+20.4% | $5.9M-21.3% | $7.5M+10.2% | $6.8M+36.6% | $5.0M-39.6% | $8.2M+170.8% | $3.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | $107K-40.7% | $180K |
| Operating Income | -$8.5Mn/m | -$7.1Mn/m | -$9.7Mn/m | -$22.8Mn/m | -$18.0Mn/m | -$6.5Mn/m | -$7.9M |
| Interest Expense | $2.6M-22.9% | $3.3M+19.2% | $2.8M+90.8% | $1.5M+176.7% | $527K-96.7% | $16.1M+2847.7% | $545K |
| Income Tax | $67Kn/m | -$710K-221.6% | $584Kn/m | -$841K-314.9% | $391K+90.5% | $205K+195.9% | $69K |
| Net Income | -$8.3Mn/m | -$7.4Mn/m | -$7.2Mn/m | -$139.6Mn/m | -$13.9Mn/m | -$22.5Mn/m | -$5.6M |
| EPS (Basic) | -$1.95 | -$3.13 | -$3.37 | -$116.63 | -$2.39 | -$1.49 | N/A |
| EPS (Diluted) | -$1.95 | -$3.13 | -$3.37 | -$119.63 | -$5.24 | -$1.49 | N/A |
| Diluted Shares (Avg) | N/A | N/A | 13M | 7M | 6M | 39M+20.6% | 32M |
Not reported in any period shown, so not listed: SG&A Expenses, EBITDA.
IMCC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F |
|---|---|---|---|---|---|---|---|
| Total Assets | $23.1M-15.0% | $27.2M-26.4% | $37.0M-17.5% | $44.8M-80.1% | $224.9M+652.6% | $29.9M+25.4% | $23.8M |
| Current Assets | $16.6M+2.2% | $16.2M-11.7% | $18.4M-23.9% | $24.1M-62.0% | $63.5M+198.5% | $21.3M+13.6% | $18.7M |
| Cash & Equivalents | $2.0M+231.8% | $599K-56.4% | $1.4M-24.1% | $1.8M-83.4% | $10.9M+56.2% | $7.0M-35.2% | $10.7M |
| Inventory | $3.1M+39.4% | $2.2M-70.5% | $7.6M-38.3% | $12.3M-46.7% | $23.0M+250.5% | $6.6M+56.9% | $4.2M |
| Accounts Receivable | $3.1M-16.4% | $3.8M+3.0% | $3.7M+48.8% | $2.5M-78.3% | $11.3M+1997.9% | $540K+35.7% | $398K |
| Goodwill | $1.4M-70.4% | $4.6M-39.3% | $7.6M+5.9% | $7.2M-92.4% | $94.9M+39727.4% | $238K+3.7% | $230K |
| Total Liabilities | $25.8M+3.0% | $25.0M-5.9% | $26.6M-2.4% | $27.3M-57.8% | $64.5M+222.6% | $20.0M+441.8% | $3.7M |
| Current Liabilities | $24.8M+2.3% | $24.2M-2.5% | $24.9M-0.4% | $25.0M-37.7% | $40.1M+715.6% | $4.9M+144.2% | $2.0M |
| Non-Current Liabilities | $981K+25.7% | $781K-54.5% | $1.7M-24.1% | $2.3M-90.7% | $24.4M+62.0% | $15.1M+798.5% | $1.7M |
| Long-Term Debt | $683K+110.9% | $324K+8.4% | $298K+1.2% | $295K-3.9% | $307Kn/m | $0 | N/A |
| Total Equity | -$2.7M-174.7% | $3.6M-66.8% | $11.0M-34.5% | $16.7M-89.4% | $157.5M+1710.0% | $8.7M-54.3% | $19.0M |
| Retained Earnings | -$197.1Mn/m | -$179.8Mn/m | -$188.7Mn/m | -$177.0Mn/m | -$39.7Mn/m | -$25.9Mn/m | -$3.3M |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
IMCC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.4Mn/m | -$748Kn/m | -$6.1Mn/m | -$9.3Mn/m | -$26.9Mn/m | -$6.2Mn/m | -$4.6M |
| Capital Expenditures | $9K-91.2% | $108K-75.4% | $440K-61.9% | $1.2M-67.8% | $3.6M+74.6% | $2.1M+71.9% | $1.2M |
| Free Cash Flow | $3.4Mn/m | -$856Kn/m | -$6.6Mn/m | -$10.5Mn/m | -$30.5Mn/m | -$8.3Mn/m | -$5.8M |
| Investing Cash Flow | -$387Kn/m | -$326Kn/m | -$895Kn/m | -$1.1Mn/m | -$7.1Mn/m | -$3.2Mn/m | -$2.9M |
| Financing Cash Flow | $836K-68.5% | $2.7M-62.8% | $7.1M+102.7% | $3.5M-90.8% | $38.1M+621.7% | $5.3M-59.8% | $13.2M |
| Share Buybacks | N/A | N/A | N/A | N/A | -$517K | N/A | N/A |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid.
IMCC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F | FY1920-F |
|---|---|---|---|---|---|---|---|
| Gross Margin | 17.7%+2.1pp | 15.6%-4.5pp | 20.2%+3.3pp | 16.9%-1.7pp | 18.6%-47.3pp | 65.9%+22.6pp | 43.3% |
| Operating Margin | -21.2%-2.2pp | -18.9%+7.3pp | -26.2%+30.5pp | -56.7%+11.0pp | -67.6%-15.7pp | -51.9% | -113.2% |
| Net Margin | -20.7%-1.1pp | -19.6%-0.1pp | -19.5% | -347.6% | -52.2% | -180.6% | -80.4% |
| Return on Equity | N/A | -201.9%-136.2pp | -65.6%+768.2pp | -833.9%-825.1pp | -8.8%+249.8pp | -258.6%-229.0pp | -29.6% |
| Return on Assets | -35.7%-8.7pp | -27.0%-7.6pp | -19.5%+291.8pp | -311.3%-305.1pp | -6.2%+69.1pp | -75.3%-51.7pp | -23.6% |
| Current Ratio | 0.670.0x | 0.67-0.1x | 0.74-0.2x | 0.97-0.6x | 1.58-2.7x | 4.33-5.0x | 9.31 |
| Debt-to-Equity | N/A | 0.09+0.1x | 0.030.0x | 0.020.0x | 0.000.0x | 0.00 | N/A |
| Liabilities-to-Equity | N/A | 6.87+4.4x | 2.43+0.8x | 1.63+1.2x | 0.41-1.9x | 2.30+2.1x | 0.19 |
| Asset Turnover | 1.72+0.3x | 1.38+0.4x | 1.00+0.1x | 0.90+0.8x | 0.12-0.3x | 0.42+0.1x | 0.29 |
| FCF Margin | 8.6%+10.9pp | -2.3%+15.5pp | -17.7%+8.4pp | -26.1% | -114.4% | -66.3%+16.4pp | -82.7% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$2.7M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.67), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| IM Cannabis Corp. IMCC | FY2025 | $39.9M | -$8.3M | -20.7% | $558K | — |
| Biofrontera Inc. BFRI | FY2025 | $41.7M | -$10.5M | -25.3% | $11.6M | 45/100 |
| TherapeuticsMD, Inc. TXMD | FY2025 | $3.0M | -$569K | -18.8% | $21.4M | 76/100 |
| Gelteq Limited GELS | FY2025 | N/A | -$6.6M | N/A | $4.7M | — |
Where IM Cannabis Corp. Ranks
Frequently Asked Questions
What is IM Cannabis Corp.'s annual revenue?
IM Cannabis Corp. (IMCC) reported $39.9M in total revenue for fiscal year 2025. This represents a 6.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is IM Cannabis Corp.'s revenue growing?
IM Cannabis Corp. (IMCC) revenue grew by 6.4% year-over-year, from $37.5M to $39.9M in fiscal year 2025.
Is IM Cannabis Corp. profitable?
No, IM Cannabis Corp. (IMCC) reported a net loss of $8.3M in fiscal year 2025, with a net profit margin of -20.7%.
How much debt does IM Cannabis Corp. have?
As of fiscal year 2025, IM Cannabis Corp. (IMCC) had $2.0M in cash and equivalents against $683K in long-term debt.
What is IM Cannabis Corp.'s gross margin?
IM Cannabis Corp. (IMCC) had a gross margin of 17.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is IM Cannabis Corp.'s operating margin?
IM Cannabis Corp. (IMCC) had an operating margin of -21.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is IM Cannabis Corp.'s net profit margin?
IM Cannabis Corp. (IMCC) had a net profit margin of -20.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is IM Cannabis Corp.'s free cash flow?
IM Cannabis Corp. (IMCC) generated $3.4M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is IM Cannabis Corp.'s operating cash flow?
IM Cannabis Corp. (IMCC) generated $3.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are IM Cannabis Corp.'s total assets?
IM Cannabis Corp. (IMCC) had $23.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are IM Cannabis Corp.'s capital expenditures?
IM Cannabis Corp. (IMCC) invested $9K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is IM Cannabis Corp.'s current ratio?
IM Cannabis Corp. (IMCC) had a current ratio of 0.67 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is IM Cannabis Corp.'s return on assets (ROA)?
IM Cannabis Corp. (IMCC) had a return on assets of -35.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is IM Cannabis Corp.'s P/E ratio?
IM Cannabis Corp. (IMCC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $558K as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is IM Cannabis Corp.'s price-to-sales ratio?
IM Cannabis Corp. (IMCC) trades at 0.0x sales, its market capitalization divided by $39.9M revenue, FY2025. The market capitalization is $558K as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is IM Cannabis Corp.'s debt-to-equity ratio negative or not reported?
IM Cannabis Corp. (IMCC) has negative shareholder equity of -$2.7M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is IM Cannabis Corp.'s Altman Z-Score?
IM Cannabis Corp. (IMCC) has an Altman Z-Score of -11.81, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is IM Cannabis Corp.'s Piotroski F-Score?
IM Cannabis Corp. (IMCC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are IM Cannabis Corp.'s earnings high quality?
IM Cannabis Corp. (IMCC) reported a net loss of $8.3M while generating $3.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can IM Cannabis Corp. cover its interest payments?
IM Cannabis Corp. (IMCC) reported an operating loss of $8.5M against $2.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.