IM Cannabis Corp. Announces Third Quarter 2026 Financial Results

Rhea-AI Summary

IM Cannabis (IMCC) reported third-quarter 2026 revenue of C$1.65 million, down from C$5.08 million in the same period last year. Gross loss was C$35,000; net loss widened to C$7.08 million from C$3.87 million. Nine-month revenue fell to C$8.96 million from C$15.77 million, while net loss widened to C$13.93 million from C$3.88 million.

The company is negotiating a definitive agreement to acquire 51% of Space Defense Innovations, a Polish unmanned aerial systems business, following a September non-binding agreement. It completed the sale of its European-focused operations, including Adjupharm, to Slil.com Holding on September 29, 2026, retaining its Israeli medical cannabis operations. Consideration included a C$3 million advance payment and assumption of certain liabilities of up to C$9.4 million. The company expects the sale to improve shareholders' equity by approximately C$3 million.

3 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 6 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointEuropean operations sale completed September 29, 2026, with C$3 million advance payment and assumption of liabilities up to C$9.4 million.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Proposed acquisition of 51% of Space Defense Innovations would add an unmanned aerial systems business.
• Minor point. Forward-looking: it has not happened yet and may not happen.European operations sale is expected to improve shareholders' equity by approximately C$3 million.

Negative

• Major pointThird-quarter net loss widened to C$7.08 million from C$3.87 million in 2025.
• Moderate pointThird-quarter revenue declined to C$1.65 million from C$5.08 million in the same period last year.
• Moderate pointSpace Defense Innovations acquisition remains non-binding, with a definitive share purchase agreement under negotiation.
• Minor pointThird-quarter gross loss totaled C$35,000.
• Minor pointNine-month revenue declined to C$8.96 million from C$15.77 million in the corresponding 2025 period.
• Minor pointNine-month net loss widened to C$13.93 million from C$3.88 million in the corresponding 2025 period.

Key Figures

Q3 revenue: C$1.65 million Q3 gross loss: C$35,000 Q3 net loss: C$7.08 million +5 more

Q3 revenue

C$1.65 million

Third quarter 2026; compared with C$5.08 million in the same period last year

Q3 gross loss

C$35,000

Third quarter 2026

Q3 net loss

C$7.08 million

Third quarter 2026; compared with C$3.87 million in Q3 2025

Nine-month revenue

C$8.96 million

First nine months of 2026; compared with C$15.77 million in the corresponding 2025 period

Nine-month net loss

C$13.93 million

First nine months of 2026; compared with C$3.88 million in the corresponding 2025 period

Advance payment

C$3 million

Consideration for the completed sale of European-focused operations

Liabilities assumed

Up to C$9.4 million

Certain liabilities included in the completed sale transaction

Expected shareholders' equity improvement

Approximately C$3 million

Company expectation following the completed sale transaction

Previous Earnings Reports

2 past events · Latest: Aug 13

Same Type 2 events

1. Aug 13

   Q2 earnings results

   24h Move

   -6.1%

   Six-month revenue declined and net loss widened; the 24-hour price reaction was negative.

2. Nov 13

   Q3 earnings results

   24h Move

   -9.0%

   Revenue was flat, gross margin declined, and the company reported a net loss; the reaction was negative.

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

Key Terms

share purchase agreement

1 terms

share purchase agreement financial

"negotiating a definitive share purchase agreement with SDI's shareholders"

A share purchase agreement is a written contract that outlines the terms and conditions for buying and selling shares of a company. It specifies details like the price, number of shares, and any special conditions, ensuring both buyer and seller agree on the transaction. For investors, it provides clarity and legal protection, making sure the purchase is clear and enforceable.

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

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VANCOUVER, BC and GLIL YAM, Israel, Nov. 13, 2026 /PRNewswire/ -- IM Cannabis Corp. (the "Company") (NASDAQ: IMCC) announced its financial results for the third quarter and first nine months ended September 30, 2026.

For the third quarter of 2026, revenue totaled C$1.65 million, compared to C$5.08 million in the same period last year. The Company reported a gross loss of C$35,000 and a total net loss of C$7.08 million, compared to a net loss of C$3.87 million in the third quarter of 2025. For the first nine months of 2026, revenue totaled C$8.96 million, compared to C$15.77 million in the corresponding period of 2025, while total net loss amounted to C$13.93 million, compared to C$3.88 million.

In September 2026, the Company announced a non-binding agreement to acquire a 51% stake in Space Defense Innovations LLC (SDI), a Polish company operating in the unmanned aerial systems sector through its subsidiary BlueAero Group, which distributes tactical UAS products manufactured by BlueBird Aero Systems. The Company is currently negotiating a definitive share purchase agreement with SDI's shareholders.

Separately, the Company completed the sale of its European-focused operations, including its German subsidiary Adjupharm GmbH, to Slil.com Holding Ltd. on September 29, 2026, following a restructuring under which the Company's Israeli medical cannabis operations were retained. The transaction consideration included a C$3 million advance payment and the assumption of certain liabilities of up to C$9.4 million. The Company expects the transaction to improve shareholders' equity by approximately C$3 million.

The full Interim Financial Statements and Management's Discussion and Analysis are available on SEDAR+ and EDGAR.

About IM Cannabis Corp.

IM Cannabis Corp. (NASDAQ: IMCC) is an international company operating a medical cannabis platform serving patients in Israel.

The Company's 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 IMCC's products throughout the value chain.

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"). Forward-looking statements are often, but not always, identified by words such as "may", "will", "could", "would", "should", "expect", "intend", "anticipate", "believe", "plan", "estimate", "likely", "potential", "proposed" and similar expressions, or statements that events, conditions or results "may", "will", "could", "would" or "should" occur or be achieved.

Forward-looking statements in this press release include, without limitation, statements concerning the anticipated effect of the Transaction on the Company's shareholders' equity, working capital, consolidated liabilities, corporate structure and financial condition; the Company's intended focus on its retained Israeli medical cannabis operations; the Company's evaluation of additional opportunities; the anticipated accounting treatment and financial impact of the Transaction; and the realization of the expected financial and operational benefits of the Transaction.

Forward-looking statements are based on a number of assumptions, including that the Company's preliminary and unaudited estimates regarding the accounting and financial impact of the Transaction are materially accurate; that the accounting treatment of the Transaction will be consistent with management's current expectations; that the Company will realize the expected benefits of the Transaction; that no unanticipated liabilities, indemnification obligations, tax liabilities or post-closing claims will materially reduce those anticipated benefits; and that the Company will be able to operate and finance its retained Israeli business substantially as currently contemplated.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation: the risk that the anticipated improvement in shareholders' equity, working capital, consolidated liabilities, corporate structure or financial condition is not realized or is less than expected; the risk that the accounting treatment or financial impact of the Transaction differs from management's current expectations; the risk of purchase-price adjustments, post-closing claims, indemnification obligations, tax liabilities or disputes arising from the Transaction or the pre-closing reorganization; the risk that liabilities associated with IMC Holdings or the Target Subsidiaries differ from the amounts currently expected; the risk that the retained Israeli operations do not perform as expected; risks relating to the Company's liquidity position, going concern disclosure, debt obligations and ability to raise additional capital; the risk that the Company is unable to maintain or regain compliance with the continued listing requirements of Nasdaq Stock Market LLC; risks relating to regulatory changes, licensing, supply-chain constraints, competition, product liability and reliance on key personnel; war, conflict and civil unrest in Israel and the Middle East; and the other risks, uncertainties and factors described under the heading "Risk Factors" in the Company's annual report for the year ended December 31, 2025 and in the Company's subsequent public filings, which are available under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar. 

Forward-looking statements are made as of the date of this press release and are based on the beliefs, estimates, expectations and opinions of management on the date such statements are made. The Company does not undertake any obligation to update any forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. The 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

 

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SOURCE IM Cannabis Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were IM Cannabis's third-quarter 2026 financial results?

IM Cannabis reported C$1.65 million in revenue, a C$35,000 gross loss and a C$7.08 million net loss for the third quarter of 2026. Revenue was C$5.08 million and net loss was C$3.87 million in the third quarter of 2025.

What did IM Cannabis receive for selling its European operations?

Consideration included a C$3 million advance payment and the assumption of certain liabilities of up to C$9.4 million. The sale to Slil.com Holding closed on September 29, 2026, and included German subsidiary Adjupharm. IM Cannabis retained its Israeli medical cannabis operations.