IM Cannabis Corp. Announces Second Quarter and First Half 2026 Financial Results

Rhea-AI Summary

IM Cannabis (Nasdaq: IMCC) reported weaker results for the three and six months ended June 30, 2026. Six‑month revenue was $16.3 million, down from $25.2 million in 2025, with gross profit falling to $2.9 million from $6.9 million. Six‑month operating loss widened to $3.8 million versus $0.2 million, and net loss increased to $6.9 million (basic and diluted loss of $0.85 per share) compared with a near break‑even loss of $0.02 million in 2025.

For Q2 2026, revenue was $7.6 million (vs. $12.7 million), gross profit $1.5 million (vs. $3.4 million), operating loss $2.1 million (vs. $0.4 million) and net loss $4.4 million or $0.47 per share (vs. $0.2 million or $0.09 per share). As of June 30, 2026, cash was $1.6 million, total assets $24.7 million, total liabilities $30.3 million, and shareholders’ deficit attributable to the company was $5.5 million.

Positive

• Total liabilities reduced to $30.3 million from $35.4 million at December 31, 2025
• Loans and credit (current and non‑current) decreased to $12.1 million from $15.3 million
• General and administrative expenses for six months declined to $3.8 million from $4.5 million
• Total operating expenses for six months slightly decreased to $6.7 million from $7.1 million
• Convertible debentures reduced to $0 from $0.6 million in current liabilities

Negative

• Six‑month revenue declined to $16.3 million from $25.2 million year over year
• Six‑month gross profit dropped to $2.9 million from $6.9 million
• Six‑month operating loss widened to $3.8 million from $0.2 million
• Six‑month net loss increased to $6.9 million from $0.02 million
• Q2 2026 revenue decreased to $7.6 million from $12.7 million in Q2 2025
• Cash balance fell to $1.6 million from $2.7 million at December 31, 2025
• Total equity attributable to shareholders moved deeper into deficit, to $(5.5) million from $(3.7) million

Market Context

IMCC's tag-specific earnings history averaged -6.81% across five events. That record places the curr...

Analysis

IMCC's tag-specific earnings history averaged -6.81% across five events. That record places the current results release alongside a recurring earnings catalyst, while the effective F-3 resale registration for up to 17,276,931 shares remains a risk to monitor.

Key Figures

Six-month revenue: $16.3 million Six-month gross profit: $2.9 million Six-month operating loss: $3.8 million +5 more

8 metrics

Six-month revenue $16.3 million Six months ended June 30, 2026, compared to $25.2 million in 2025

Six-month gross profit $2.9 million Six months ended June 30, 2026, compared to $6.9 million in 2025

Six-month operating loss $3.8 million Six months ended June 30, 2026, compared to $0.2 million in 2025

Six-month net loss $6.9 million; $0.85 per share Six months ended June 30, 2026, compared to $0.02 million and $0.01 per share in 2025

Second-quarter revenue $7.6 million Three months ended June 30, 2026, compared to $12.7 million in 2025

Second-quarter net loss $4.4 million; $0.47 per share Three months ended June 30, 2026, compared to $0.2 million and $0.09 per share in 2025

Cash $1.6 million As of June 30, 2026, compared to $2.7 million as of December 31, 2025

Shareholders' deficit $5.5 million Attributable to company shareholders as of June 30, 2026

Previous Earnings Reports

5 past events · Latest: May 13 (Negative)

Same Type Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 13	Q1 2026 earnings	Negative	-3.3%	Revenue decline, lower gross profit, and net loss amid liquidity pressures
Nov 13	Q3 2025 earnings	Negative	-9.0%	Lower gross margin, higher operating expenses, impairment, and going concern disclosure
Aug 12	Q2 2025 earnings	Negative	-11.3%	Revenue decline and supply-chain challenges despite improved gross profit and EBITDA
May 15	Q1 2025 earnings	Positive	+7.3%	Revenue growth, net profit, higher gross profit, and reduced operating expenses
Mar 31	Q4 2024 earnings	Positive	-17.9%	Revenue growth and positive quarterly adjusted EBITDA despite liquidity concerns

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Tag-specific earnings reactions were negative in four of five events, with an average move of -6.81%.

Key Terms

convertible promissory notes, derivative warrants liabilities

2 terms

convertible promissory notes financial

"Convertible promissory notes | | 1,576"

A convertible promissory note is a loan a company takes that can later be turned into shares instead of being paid back in cash; think of lending money now in exchange for a voucher that can become ownership later. Investors care because it mixes credit risk and potential ownership upside—it can protect lenders if a company struggles while also diluting existing shareholders when converted, affecting future share value and investor returns.

derivative warrants liabilities financial

"Derivative warrants liabilities and prefunded warrants"

Liabilities arising from derivative warrants are the recorded obligations a company carries when it has issued warrants that behave like financial derivatives—contracts that give holders rights to buy, sell, or receive cash based on an underlying asset or share price. Like a promise on the balance sheet, they matter because their value can change with market moves and may create future cash payments or share dilution, affecting a company’s reported liabilities and potential earnings per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO and GLIL YAM, Israel, Aug. 13, 2026 /PRNewswire/ -- IM Cannabis Corp. ("IMC" or the "Company") (Nasdaq: IMCC), today announced its financial results for the three and six months ended June 30, 2026.

All amounts are reported in Canadian dollars, unless otherwise stated.

Financial Summary for the Six Months Ended June 30, 2026

• Revenue of $16.3 million, compared to $25.2 million in the same period in 2025.
• Gross profit of $2.9 million, compared to $6.9 million in the same period in 2025.
• Operating loss of $3.8 million, compared to $0.2 million in the same period in 2025.
• Net loss of $6.9 million, or $0.85 per share (basic and diluted), compared to a net loss of $0.02 million, or $0.01 per share, in the same period in 2025.

Financial Summary for the Three Months Ended June 30, 2026

• Revenue of $7.6 million, compared to $12.7 million in the same period in 2025.
• Gross profit of $1.5 million, compared to $3.4 million in the same period in 2025.
• Operating loss of $2.1 million, compared to $0.4 million in the same period in 2025.
• Net loss of $4.4 million, or $0.47 per share (basic and diluted), compared to a net loss of $0.2 million, or $0.09 per share, in the same period in 2025.

Balance Sheet Summary as of June 30, 2026

• Cash of $1.6 million, compared to $2.7 million as of December 31, 2025.
• Total assets of $24.7 million.
• Total liabilities of $30.3 million.
• Shareholders' deficit attributable to shareholders of the Company of $5.5 million.
• The full interim condensed consolidated financial statements and related notes, and management's discussion and analysis are available on SEDAR+ and EDGAR.

About IMC

IMC (Nasdaq: IMCC) is an international company focused on building and scaling innovative businesses and technologies across global markets. The Company currently operates a medical cannabis platform serving patients in Israel and Germany while evaluating opportunities to expand into additional technology-driven sectors.

The IMC ecosystem operates in Israel through its subsidiaries, which import and distribute cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies and online platforms, in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.

Disclaimer for Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States securities laws (collectively, "forward-looking statements"). All information that addresses activities or developments that we expect to occur in the future is considered forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "likely" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. . The above list of forward-looking statements and assumptions is not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company's ability to continue to meet the listing requirements of the Nasdaq Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and its subsidiaries (collectively, the "Group") to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfill the Group's obligations; the Group's possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group's cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the multi front war that Israel is facing on the Company, its operations and the medical cannabis industry in Israel and globally; risks associated with the Company focusing on the Israel and Germany markets; the inability of the Company to achieve sustainable profitability and/or increase shareholder value; the inability of the Company to actively manage costs and/or improve margins; the inability of the Company to grow and/or maintain sales; the inability of the Company to meet its goals and/or strategic plans; the inability of the Company to reduce costs and/or maintain revenues; and the Company's inability to take advantage of the legalization of medicinal cannabis in Germany.

Please see the other risks, uncertainties and factors set out under the heading "Risk Factors" in the Company's annual report for the year ended December 31, 2025, which is available on the Company's issuer profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company does not undertake any obligation to update forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Company Contact:

Michal Efraty
Investor & Public Relations
michal@efraty.com

Oren Shuster, CEO
IM Cannabis Corp.
info@imcannabis.com

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Canadian Dollars in thousands
					June 30, 2026				December 31, 2025
					(Unaudited)
ASSETS
CURRENT ASSETS:
Cash					$          1,617				$2,727
Restricted cash deposit					124				582
Trade receivables					6,858				10,848
Other current assets					4,848				4,316
Inventory					2,857				4,268
					16,304				22,741
NON-CURRENT ASSETS:
Investments in affiliate					1,975				1,776
Property, plant and equipment, net					3,652				3,711
Intangible assets, net					458				1,222
Goodwill					2,073				1,885
Right-of-use assets, net					230				401
					8,388				8,995
Total assets					$24,692				$31,736

The accompanying notes are an integral part of the interim condensed consolidated financial statements.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Canadian Dollars in thousands
				June 30, 2026		December 31, 2025
				(Unaudited)
LIABILITIES AND SHAREHOLDERS' DEFICIT
CURRENT LIABILITIES:
Current maturities of operating lease liabilities				$174		$322
Trade payables				8,472		12,055
Other current liabilities				7,728		6,073
Loans and credit from bank institution and others				11,404		14,333
Convertible debentures				-		622
Convertible promissory notes				1,576		-
Derivative warrants liabilities and prefunded warrants				12		601
				29,366		34,006
NON-CURRENT LIABILITIES:
Operating lease liabilities				17		54
Loans and credit from bank institution and others				661		936
Deferred tax liabilities				277		355
				955		1,345
Total liabilities				30,321		35,351
DEFICIT ATTRIBUTABLE TO SHAREHOLDERS OF THE COMPANY:
Share capital and premium				274,847		270,518
Capital reserve from share-based payment transactions				475		475
Amount received on account of financial instruments and other				2,062		2,168
Capital reserve from translation differences of foreign operations				(3,345)		(3,842)
Capital reserve from transaction with non-controlling interests				(2,872)		(2,872)
Capital reserve from transaction with controlling shareholder				33		33
Accumulated deficit				(276,739)		(270,210)
Total equity attributable to shareholders of the Company				(5,539)		(3,730)
Non-controlling interests				(90)		115
Total deficit				(5,629)		(3,615)
Total liabilities and deficit				$      24,692		$       31,736

The accompanying notes are an integral part of the interim condensed consolidated financial statements. 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) (UNAUDITED)
Canadian Dollars in thousands, except per share data
			Six months ended June 30,				Three months ended June 30,
			2026		2025		2026		2025
Revenue			$   16,268		$   25,196		$  7,589		$  12,696
Cost of revenue			13,344		18,323		6,084		9,271
Gross profit			2,924		6,873		1,505		3,425
Selling and marketing expenses			2,926		2,562		1,400		1,289
General and administrative expenses			3,764		4,491		2,195		2,482
Share-based compensation			-		12		-		4
Total operating expenses			6,690		7,065		3,595		3,775
Operating loss			(3,766)		(192)		(2,090)		(350)
Finance income			589		2,070		575		1,886
Finance expenses			(3,763)		(1,952)		(2,917)		(1,756)
Finance income (expenses), net			(3,174)		118		(2,342)		130
Loss before tax benefit			(6,940)		(74)		(4,432)		(220)
Tax benefit			(88)		(55)		(47)		(26)
Net loss			$(6,852)		$        (19)		$   (4,385)		$      (194)

 

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SOURCE IM Cannabis Corp.

FAQ

What were IM Cannabis (IMCC) revenues and profits for Q2 2026?

IM Cannabis reported Q2 2026 revenue of $7.6 million and gross profit of $1.5 million. According to IM Cannabis, the quarter ended with an operating loss of $2.1 million and a net loss of $4.4 million, or $0.47 per share.

How did IM Cannabis (IMCC) perform in the first half of 2026 compared to 2025?

IM Cannabis generated six‑month 2026 revenue of $16.3 million, down from $25.2 million in 2025. According to IM Cannabis, gross profit declined to $2.9 million, operating loss widened to $3.8 million, and net loss increased to $6.9 million from $0.02 million.

What is IM Cannabis (IMCC) cash position and balance sheet as of June 30, 2026?

IM Cannabis reported cash of $1.6 million and total assets of $24.7 million at June 30, 2026. According to IM Cannabis, total liabilities were $30.3 million, resulting in a shareholders’ deficit attributable to the company of approximately $5.5 million.

Did IM Cannabis (IMCC) report a net loss in Q2 and H1 2026?

Yes, IM Cannabis reported net losses for both Q2 and the first half of 2026. According to IM Cannabis, Q2 2026 net loss was $4.4 million, while the six‑month net loss reached $6.9 million, equivalent to a basic and diluted loss of $0.85 per share.

How have IM Cannabis (IMCC) operating expenses changed in the first half of 2026?

IM Cannabis reported six‑month 2026 operating expenses of $6.7 million, slightly lower than $7.1 million in 2025. According to IM Cannabis, general and administrative expenses decreased to $3.8 million, while selling and marketing expenses increased modestly to $2.9 million over the same period.

What business segments and markets does IM Cannabis (IMCC) operate in?

IM Cannabis operates a medical cannabis platform serving patients in Israel and Germany. According to IM Cannabis, it imports, distributes, and retails medical cannabis in Israel, including pharmacies and online platforms, and distributes medical cannabis to German pharmacies through its subsidiary Adjupharm GmbH.

Where can investors find IM Cannabis (IMCC) full Q2 2026 financial statements?

Investors can access the full interim condensed consolidated financial statements and MD&A for IM Cannabis on SEDAR+ and EDGAR. According to IM Cannabis, these filings cover the three and six months ended June 30, 2026, with detailed notes and financial disclosures.