IM Cannabis Corp. (Nasdaq: IMCC) confirmed that Asi Levi, CPA, will serve as its Chief Financial Officer effective December 12, 2025, succeeding Uri Birenberg. Levi brings more than 15 years of finance and controlling experience, having held CFO roles at Water Ways Technologies Inc. and DekelOil CI, and controller positions at SciSparc Ltd. and A2Z Cust2Mate Solutions Corp. His background includes overseeing fundraising, financial planning, budgeting, and cash‑flow management under IFRS and other standards.
The appointment comes at a time when IM Cannabis is grappling with a challenging financial profile. In the third quarter of 2025, the company reported a net loss of $3.9 million, a sharp increase from the $1.1 million loss in Q3 2024, and a 13% year‑over‑year decline in gross profit. The loss was largely driven by a $3.1 million one‑time goodwill and intangible asset impairment, which the new CFO will need to manage while steering the company toward profitability. The company’s Altman Z‑Score is negative, its debt‑to‑equity ratio stands at 4.44, and its current ratio is 0.72, underscoring liquidity constraints that the new CFO must address.
Levi’s experience in high‑growth, regulated environments is seen as a strategic fit for IM Cannabis’s focus on Israel and Germany, where it supplies premium medical cannabis products. Management believes that his expertise in fundraising and cash‑flow management will help the company navigate its debt burden and improve working‑capital efficiency. CEO Oren Shuster noted that the company is “evaluating new business activities and navigating regulatory uncertainty in Germany,” and that a stronger financial leadership team is essential to support these initiatives.
The market reacted positively to the CFO announcement, with IMCC shares rising 12.57% following the disclosure. Investors interpreted the appointment as a signal that the company is taking concrete steps to strengthen its financial footing amid ongoing headwinds such as a negative Altman Z‑Score and declining revenue growth. The rally was also buoyed by a broader sector lift after a high‑profile endorsement of CBD by a public figure, which lifted sentiment across the cannabis space.
In summary, the CFO change is a material event that could materially influence IM Cannabis’s financial strategy and investor outlook. The appointment of Asi Levi is expected to bring disciplined financial management to a company facing liquidity challenges and regulatory uncertainty, potentially setting the stage for a turnaround in profitability and operational stability.
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