IM Cannabis Corp. announced its financial results for the fourth quarter and full year ended December 31, 2024, on March 31, 2025. The company reported a positive adjusted EBITDA of $0.5 million for Q4 2024, marking a significant financial milestone.
For the full year 2024, IM Cannabis delivered 183% growth in Germany, with German sales increasing by $10 million. Total operating expenses were reduced by 53% since 2022, decreasing from $40 million to $18.7 million in 2024.
The company's Q4 2024 results also showed a 25% revenue growth and a 42% decrease in operating expenses compared to the prior year period. Management noted that gross margins in 2024 were impacted by the clearance of $3.9 million in slow-moving inventory, with $0.7 million cleared in Q4 2024, and no similar scale of write-offs is anticipated for 2025.
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