IM Cannabis (IMCC)
Market Price (9/1/2026): $2.89 | Market Cap: $0.9 MilSector: Health Care | Industry: Pharmaceuticals
IM Cannabis (IMCC)
Market Price (9/1/2026): $2.89Market Cap: $0.9 MilSector: Health CareIndustry: Pharmaceuticals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52% Megatrend and thematic driversMegatrends include Health & Wellness Trends. Themes include Cannabis-Based Wellness. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -33% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1292% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -13%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.3%, Rev Chg QQuarterly Revenue Change % is -40% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.3%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.4% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1901% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 122% Key risksIMCC key risks include [1] severe financial distress, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52% |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends. Themes include Cannabis-Based Wellness. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -33% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1292% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -13%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.3%, Rev Chg QQuarterly Revenue Change % is -40% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.3%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.4% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1901% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 122% |
| Key risksIMCC key risks include [1] severe financial distress, Show more. |
Qualitative Assessment
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IM Cannabis (IMCC) stock has lost about 65% since 5/31/2026 because of the following key factors:
1. Deteriorating Financial Performance in Fiscal Q2 2026.
IM Cannabis reported a significant decline in its financial performance for fiscal Q2 2026, which ended on June 30, 2026. Revenue fell to $7.6 million, a notable decrease from $12.7 million in the same period of 2025. The company's net loss substantially widened to $4.4 million, or $0.47 per share, compared to a net loss of $0.2 million, or $0.09 per share, in fiscal Q2 2025. This poor financial showing highlighted ongoing operational challenges and increased investor concern.
2. Significant Liquidity Issues and "Going Concern" Doubts.
As of June 30, 2026, IM Cannabis faced severe liquidity challenges, reporting just $1.6 million in cash and a shareholders' deficit of $5.5 million. Total liabilities of $30.3 million significantly outweighed total assets of $24.7 million. Management explicitly disclosed that these financial conditions raised substantial doubt about the company's ability to continue as a "going concern," a critical indicator of financial instability.
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IM Cannabis (IMCC) stock has lost about 65% since 5/31/2026 because of the following key factors:
1. Deteriorating Financial Performance in Fiscal Q2 2026.
IM Cannabis reported a significant decline in its financial performance for fiscal Q2 2026, which ended on June 30, 2026. Revenue fell to $7.6 million, a notable decrease from $12.7 million in the same period of 2025. The company's net loss substantially widened to $4.4 million, or $0.47 per share, compared to a net loss of $0.2 million, or $0.09 per share, in fiscal Q2 2025. This poor financial showing highlighted ongoing operational challenges and increased investor concern.
2. Significant Liquidity Issues and "Going Concern" Doubts.
As of June 30, 2026, IM Cannabis faced severe liquidity challenges, reporting just $1.6 million in cash and a shareholders' deficit of $5.5 million. Total liabilities of $30.3 million significantly outweighed total assets of $24.7 million. Management explicitly disclosed that these financial conditions raised substantial doubt about the company's ability to continue as a "going concern," a critical indicator of financial instability.
3. Divestiture of European Assets Under Financial Hardship.
On August 17, 2026, IM Cannabis announced an agreement to sell its European-focused assets (IMC Holdings Ltd.) to Slil.com Holding Ltd., an entity controlled by the company's CEO. This strategic move was undertaken due to severe financial difficulty, allowing the company to leverage financial hardship exemptions to bypass formal valuation and minority shareholder voting requirements. The transaction aimed to reduce total corporate liabilities by approximately C$9.4 million and was expected to improve shareholders' equity by around C$3 million, underscoring the company's distressed financial state.
4. Reverse Stock Split to Maintain Nasdaq Listing Compliance.
To address its low stock price and regain compliance with Nasdaq's $1 minimum bid price requirement, IM Cannabis announced a 1-for-30 share consolidation (reverse stock split) on August 18, 2026, which became effective on August 27, 2026. This action, often perceived by investors as a sign of a company in significant trouble, led to an immediate decline of approximately 12.30% in the stock price in after-hours trading following the announcement.
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Stock Movement Drivers
Fundamental Drivers
The -64.1% change in IMCC stock from 5/31/2026 to 8/31/2026 was primarily driven by a -37.6% change in the company's P/S Multiple.| (LTM values as of) | 5312026 | 8312026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.52 | 3.06 | -64.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 51 | 46 | -10.0% |
| P/S Multiple | 0.0 | 0.0 | -37.6% |
| Shares Outstanding (Mil) | 0 | 0 | -36.0% |
| Cumulative Contribution | -64.1% |
Market Drivers
5/31/2026 to 8/31/2026| Return | Correlation | |
|---|---|---|
| IMCC | -64.1% | |
| Market (SPY) | 1.4% | 44.9% |
| Sector (XLV) | 14.1% | -4.2% |
Fundamental Drivers
The -85.0% change in IMCC stock from 2/28/2026 to 8/31/2026 was primarily driven by a -67.3% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 8312026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.40 | 3.06 | -85.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 52 | 46 | -12.6% |
| P/S Multiple | 0.1 | 0.0 | -67.3% |
| Shares Outstanding (Mil) | 0 | 0 | -47.5% |
| Cumulative Contribution | -85.0% |
Market Drivers
2/28/2026 to 8/31/2026| Return | Correlation | |
|---|---|---|
| IMCC | -85.0% | |
| Market (SPY) | 12.1% | 19.7% |
| Sector (XLV) | 6.9% | -7.3% |
Fundamental Drivers
The -95.6% change in IMCC stock from 8/31/2025 to 8/31/2026 was primarily driven by a -85.7% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 8312026 | Change |
|---|---|---|---|
| Stock Price ($) | 69.60 | 3.06 | -95.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 52 | 46 | -12.6% |
| P/S Multiple | 0.1 | 0.0 | -85.7% |
| Shares Outstanding (Mil) | 0 | 0 | -64.8% |
| Cumulative Contribution | -95.6% |
Market Drivers
8/31/2025 to 8/31/2026| Return | Correlation | |
|---|---|---|
| IMCC | -95.6% | |
| Market (SPY) | 19.9% | 17.6% |
| Sector (XLV) | 25.7% | -4.0% |
Fundamental Drivers
The -98.1% change in IMCC stock from 8/31/2023 to 8/31/2026 was primarily driven by a -90.6% change in the company's P/S Multiple.| (LTM values as of) | 8312023 | 8312026 | Change |
|---|---|---|---|
| Stock Price ($) | 161.98 | 3.06 | -98.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 54 | 46 | -15.8% |
| P/S Multiple | 0.2 | 0.0 | -90.6% |
| Shares Outstanding (Mil) | 0 | 0 | -76.1% |
| Cumulative Contribution | -98.1% |
Market Drivers
8/31/2023 to 8/31/2026| Return | Correlation | |
|---|---|---|
| IMCC | -98.1% | |
| Market (SPY) | 76.3% | 2.8% |
| Sector (XLV) | 34.0% | -1.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IMCC Return | -57% | -97% | -63% | 9% | -40% | -92% | -100% |
| Peers Return | -17% | -49% | -56% | -16% | -11% | -13% | -88% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| IMCC Win Rate | 25% | 17% | 33% | 42% | 33% | 12% | |
| Peers Win Rate | 25% | 23% | 38% | 32% | 42% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| IMCC Max Drawdown | -93% | -97% | -78% | -72% | -84% | -93% | |
| Peers Max Drawdown | -77% | -53% | -69% | -56% | -56% | -40% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TLRY, CRON, ACB, CGC, OGI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/31/2026 (YTD)
How Low Can It Go
| Event | IMCC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -39.8% | -18.8% |
| % Gain to Breakeven | 66.2% | 23.1% |
| Time to Breakeven | 51 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -58.9% | -9.5% |
| % Gain to Breakeven | 143.2% | 10.5% |
| Time to Breakeven | 112 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -45.7% | -6.7% |
| % Gain to Breakeven | 84.1% | 7.1% |
| Time to Breakeven | 37 days | 31 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -91.5% | -6.8% |
| % Gain to Breakeven | 1074.0% | 7.3% |
| Time to Breakeven | 1798 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -95.5% | -0.2% |
| % Gain to Breakeven | 2115.9% | 0.2% |
| Time to Breakeven | 2589 days | 1 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -52.2% | -15.4% |
| % Gain to Breakeven | 109.3% | 18.2% |
| Time to Breakeven | 132 days | 125 days |
In The Past
IM Cannabis's stock fell -39.8% during the 2025 US Tariff Shock. Such a loss loss requires a 66.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | IMCC | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -39.8% | -18.8% |
| % Gain to Breakeven | 66.2% | 23.1% |
| Time to Breakeven | 51 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -58.9% | -9.5% |
| % Gain to Breakeven | 143.2% | 10.5% |
| Time to Breakeven | 112 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -45.7% | -6.7% |
| % Gain to Breakeven | 84.1% | 7.1% |
| Time to Breakeven | 37 days | 31 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -91.5% | -6.8% |
| % Gain to Breakeven | 1074.0% | 7.3% |
| Time to Breakeven | 1798 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -95.5% | -0.2% |
| % Gain to Breakeven | 2115.9% | 0.2% |
| Time to Breakeven | 2589 days | 1 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -52.2% | -15.4% |
| % Gain to Breakeven | 109.3% | 18.2% |
| Time to Breakeven | 132 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -46.5% | -53.4% |
| % Gain to Breakeven | 86.8% | 114.4% |
| Time to Breakeven | 3 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -35.9% | -8.6% |
| % Gain to Breakeven | 55.9% | 9.5% |
| Time to Breakeven | 28 days | 47 days |
In The Past
IM Cannabis's stock fell -39.8% during the 2025 US Tariff Shock. Such a loss loss requires a 66.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About IM Cannabis (IMCC)
IM Cannabis Corp. (IMCC) is a cannabis company engaged in the breeding, cultivation, and supply of medical cannabis products. Headquartered in Tel Aviv-Yafo, Israel, the company has expanded its operations internationally, with a significant presence and supply chains established across Israel, Germany, and Canada.
The company offers a diverse range of cannabis products catering to both medical patients and adult-use recreational consumers. For the medical market, IMCC provides cannabis flowers and strain-specific extracts under its IMC brand. Additionally, it serves the adult-use recreational market with offerings such as dried flower, pre-rolls, and pressed hash, distributed under its WAGNERS and Highland Grow brands.
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Here are 1-3 brief analogies for IM Cannabis (IMCC):
- Like a Philip Morris or Altria, but for cannabis instead of tobacco.
- Like an Anheuser-Busch InBev or Diageo, but specializing in cannabis products.
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- Cannabis Flowers: Medical cannabis products in flower form, offered under the IMC brand.
- Strain-Specific Cannabis Extracts: Concentrated cannabis products tailored to specific strains, offered under the IMC brand.
- Dried Flower: Cannabis in its dried form for medical or adult-use consumers, available under the WAGNERS and Highland Grow brands.
- Pre-rolls: Convenient pre-rolled cannabis products, available under the WAGNERS and Highland Grow brands.
- Pressed Hash Offerings: Concentrated cannabis resin in a pressed form, available under the WAGNERS and Highland Grow brands.
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IM Cannabis Corp. (symbol: IMCC) is primarily engaged in the breeding, growing, and supply of medical and adult-use cannabis products in Israel, Germany, and Canada. While their products ultimately reach medical patients and adult-use recreational consumers, the company typically operates within regulated supply chains, meaning it sells its branded products (IMC, WAGNERS, Highland Grow) primarily to other businesses (B2B) rather than directly to individuals.
Due to competitive and commercial confidentiality reasons, IM Cannabis Corp. does not publicly disclose the specific names of its major customer companies. However, based on the standard operating models in the cannabis industry across its markets, its major customers fall into the following categories:
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Licensed Cannabis Retailers and Provincial Distributors (Canada): In the Canadian adult-use market, IM Cannabis sells its recreational brands (WAGNERS, Highland Grow) to licensed provincial government distributors (e.g., Ontario Cannabis Store - OCS, BC Liquor Distribution Branch - BCLDB, Alberta Gaming, Liquor & Cannabis - AGLC) which then distribute to private licensed cannabis retailers. In some provinces, they may also sell directly to licensed private retailers.
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Licensed Pharmacies and Pharmaceutical Wholesalers (Germany and Israel): For its medical cannabis products under the IMC brand, IM Cannabis supplies licensed pharmacies in both Germany and Israel. In Germany, this often involves sales through pharmaceutical wholesalers who then distribute to pharmacies. In Israel, the distribution model typically involves direct supply to licensed medical cannabis pharmacies.
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Specialized Medical Cannabis Distributors (Germany and Israel): The company may also work with specialized distributors focused solely on medical cannabis products to reach pharmacies, clinics, and other licensed dispensing points in these regulated medical markets.
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Oren Shuster, Chief Executive Officer
Oren Shuster brings over two decades of entrepreneurial experience in founding and growing companies within the med-tech and technology/software industries. Prior to IM Cannabis, he co-founded E-wave, an international technology company providing software solutions, which today employs 1,000 professionals across several countries. Shuster has also held executive positions in the telecom and digital media sectors.
Asi Levi, Chief Financial Officer
Asi Levi was appointed Chief Financial Officer effective December 12, 2025, and brings over 15 years of experience in finance and controlling roles. His previous positions include serving as CFO at Water Ways Technologies Inc. and DekelOil CI, part of Dekel Agri-Vision Plc. He also held Controller roles at SciSparc Ltd. and A2Z Cust2Mate Solutions Corp. Levi has experience in overseeing fundraising efforts and managing financial planning, budgeting, and cash flow.
Richard Balla, CEO and Director, German Operations – Adjupharm GmbH
Richard Balla has nearly two decades of experience in senior roles within the German pharmaceutical industry, specializing in manufacturing, distribution, sales, and the parallel import of pharmaceuticals, medical devices, and cosmetics. Before leading Adjupharm, IM Cannabis' German subsidiary, Balla acted as a founder, early-stage shareholder, advisor, and director for multiple international companies in the pharmaceutical and medical cannabis sectors. He also served as Head of Market and Product Development at ACA Müller Pharma AG.
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The emergence and scaling of biosynthesis technologies (e.g., yeast or cellular fermentation) for producing cannabinoids, which could offer significantly lower costs, greater consistency, and scalability compared to traditional plant cultivation.
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The addressable markets for IM Cannabis's main products and services vary by region, encompassing medical cannabis flowers and extracts, as well as dried flower, pre-rolls, and pressed hash for medical patients and adult-use recreational consumers in Israel, Germany, and Canada.
Canada
- The total legal cannabis market in Canada was valued at approximately C$5.5 billion in the fiscal year ending March 31, 2025, which includes both adult-use recreational and medical sales.
- Within this, dried cannabis flower (including pre-rolls) accounted for C$3.3 billion of total sales in the fiscal year ending March 31, 2025.
- Inhaled cannabis extracts, a category that includes products like vape pens, hash, wax, and rosin, reached C$1.7 billion in sales, representing 31.1% of the total market in the fiscal year ending March 31, 2025.
- The medical cannabis market in Canada generated revenue of USD 1,665.6 million in 2023 and is projected to reach USD 4,569.5 million by 2030. Domestic medical cannabis sales were approximately CA$355 million in the fiscal year 2023-24.
Germany
- The estimated medical cannabis market in Germany is projected to exceed €670 million in 2025. Sales for medical cannabis are expected to reach €420 million in 2024 and are forecasted to grow to over €1 billion by 2028.
- Another estimate for Germany's self-payer medical cannabis market suggests it could be worth as much as 2.9 billion euros annually.
- The overall legal cannabis market in Germany was estimated at USD 2.04 billion in 2024 and is expected to reach USD 2.43 billion in 2025.
- The cannabis extract market in Germany generated USD 15.0 million in revenue in 2023 and is anticipated to reach USD 77.9 million by 2030.
Israel
- The medical cannabis market in Israel is projected to reach USD 1 billion by 2024.
- Medical cannabis sales in Israel were estimated at approximately 1.1 billion NIS (about 240 million GBP) in 2023. These sales are forecasted to reach 2.1 billion NIS (about 456 million GBP) by the end of 2026 and approximately 2.4 billion NIS (about 520 million GBP) by 2028.
- The cannabis extract market in Israel generated USD 7.7 million in revenue in 2023 and is expected to grow to USD 40.4 million by 2030.
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IM Cannabis Corp. (NASDAQ: IMCC) is expected to drive future revenue growth over the next two to three years through a multi-faceted strategy focusing on key geographic markets, operational efficiencies, and potential new market expansion. These drivers include:
- Expansion into the U.S. Market: IM Cannabis is actively exploring strategic opportunities to enter the United States cannabis market. This initiative is particularly driven by President Donald Trump's executive order signed on December 18, 2025, which aims to expedite the rescheduling of marijuana from Schedule I to Schedule III under the Controlled Substances Act, potentially unlocking significant new market opportunities for the company. The company has engaged financial advisors to guide its U.S. entry strategy.
- Sustained Growth in the German Market: The company anticipates maintaining its growth trajectory in the German market throughout 2025. IM Cannabis expects to achieve its best sales quarter in Germany to date in the first quarter of 2025, building on a substantial 183% increase in German revenue in 2024 compared to 2023. The company's focus on this high-value market is a key part of its strategy for profitable growth.
- Focus on High-Value Markets (Israel and Germany): IM Cannabis has strategically exited its Canadian operations to reallocate resources and concentrate on achieving sustainable and profitable growth in what it identifies as its highest-value markets: Israel and Germany. This focused approach aims to amplify the company's commercial and brand power in these established regions.
- Enhanced Operational Efficiencies and Margin Improvement: The company is committed to active cost management and operational optimization to achieve sustainable profitability. Recent efforts have resulted in a significant decrease in operating expenses and an improvement in Adjusted EBITDA, indicating a more efficient operational structure that supports revenue generation and better margins.
- Leveraging a Data-Driven Approach and Global Supply Chain: IM Cannabis utilizes a "transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain." This approach is expected to enable more effective product development, better alignment with market demands, and a consistent supply of premium medical cannabis products, contributing to sustained revenue growth across its operating markets.
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Share Issuance
- In January 2026, IM Cannabis raised US$2,171,660.40 through convertible notes and accompanying share purchase warrants, with the notes convertible into common shares and warrants exercisable at C$3.45 per share.
- In May 2025, the company announced its intention to complete a non-brokered private placement of secured debentures for up to C$2,500,000, with the principal convertible into common shares.
- Warrants from a 2024 private placement had their exercise price reduced from C$4.32 to C$3.43 and their expiration date extended to July 31, 2030, increasing the likelihood of future share issuance upon exercise.
Inbound Investments
- In July 2025, IM Cannabis received a US$1 million tranche as part of a loan agreement for up to US$2 million with L.I.A. Pure Capital Ltd., which also granted the lender the right to recommend a director to the board.
Outbound Investments
- In April 2025, IM Cannabis announced its intent to acquire the remaining 26% interest in Focus Medical Herbs Ltd. from Ewave Group Ltd., following a previous acquisition of a 74% interest through its subsidiary IMC Holdings.
Capital Expenditures
- In the 12 months prior to June 2025, IM Cannabis reported capital expenditures of -$154,000.
- Annual capital expenditures were -$0.79 million in 2024, -$5.98 million in 2023, -$9.72 million in 2022, and -$27.43 million in 2021.
Peer Outperformance in Pharmaceuticals
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| IMCC | IM Cannabis | -5.3% | -0.1x | -95.6% | -98.0% | -100.0% | — |
| VTRS | Viatris | -1.8% | -46.8x | 62.0% | 73.6% | 39.6% | +140pp |
| PFE | Pfizer | -5.2% | 37.4x | 23.0% | -3.5% | -19.5% | +80pp |
| PRGO | Perrigo | -3.6% | -1.2x | -32.5% | -51.9% | -54.5% | +45pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 7 | 11.8% | 89.7% | 134.2% | CAH 399% · MCK 346% · COR 178% |
| Managed Health Care | 8 | 28.5% | -0.9% | 2.2% | OSCR 91% · HQY 49% · ELV 14% |
| Health Care Services | 20 | 18.2% | 44.2% | -2.8% | HIMS 264% · RDNT 146% · DGX 72% |
| Health Care Equipment | 51 | -4.1% | -7.5% | -21.0% | POCI 10650% · UFPT 332% · GKOS 208% |
| Health Care Facilities | 24 | 5.8% | -4.9% | -21.2% | THC 255% · NHC 234% · ENSG 110% |
| Health Care Supplies | 12 | 31.8% | -15.9% | -37.2% | LNTH 277% · HAE 62% · MMSI 26% |
| Pharmaceuticals ← | 63 | -2.0% | 3.8% | -39.9% | LQDA 2335% · INDV 1177% · ETON 1051% |
| Life Sciences Tools & Services | 108 | 3.4% | -32.0% | -70.4% | SNWV 1814% · MEDP 216% · AXGN 192% |
| Health Care Technology | 20 | -23.5% | -59.5% | -76.7% | SPOK 72% · HSTM -3% · VEEV -14% |
| Biotechnology | 365 | 10.0% | -26.8% | -77.5% | BRTX 101100% · DNTH 1517% · CELZ 1514% |
Research & Analysis
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | - |
| Mkt Cap | 0.3 |
| Rev LTM | 292 |
| Op Inc LTM | -25 |
| FCF LTM | -41 |
| FCF 3Y Avg | -31 |
| CFO LTM | -28 |
| CFO 3Y Avg | -16 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.1% |
| Rev Chg 3Y Avg | 10.6% |
| Rev Chg Q | 19.0% |
| QoQ Delta Rev Chg LTM | 4.9% |
| Op Inc Chg LTM | 16.5% |
| Op Inc Chg 3Y Avg | 10.9% |
| Op Mgn LTM | -9.0% |
| Op Mgn 3Y Avg | -21.1% |
| QoQ Delta Op Mgn LTM | 1.1% |
| CFO/Rev LTM | -8.4% |
| CFO/Rev 3Y Avg | -6.0% |
| FCF/Rev LTM | -10.6% |
| FCF/Rev 3Y Avg | -11.2% |
Price Behavior
| Market Price | $3.06 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 03/01/2021 | |
| Distance from 52W High | -95.6% | |
| 50 Days | 200 Days | |
| DMA Price | $3.97 | $20.55 |
| DMA Trend | down | down |
| Distance from DMA | -22.9% | -85.1% |
| 3M | 1YR | |
| Volatility | 113.1% | 111.4% |
| Downside Capture | 652.25 | 421.82 |
| Upside Capture | 80.02 | -27.90 |
| Correlation (SPY) | 43.8% | 17.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.41 | 3.09 | 3.79 | 1.68 | 1.55 | 0.26 |
| Up Beta | 3.30 | 6.07 | 6.22 | 1.12 | 1.52 | 0.10 |
| Down Beta | -6.86 | -2.60 | 1.17 | 0.28 | 0.63 | 1.66 |
| Up Capture | 464% | 137% | 142% | -7% | -16% | -7% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 8 | 17 | 25 | 51 | 95 | 305 |
| Down Capture | 889% | 468% | 407% | 274% | 192% | 69% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 12 | 23 | 37 | 73 | 149 | 431 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IMCC | |
|---|---|---|---|---|
| IMCC | -95.9% | 111.1% | -2.32 | - |
| Sector ETF (XLV) | 26.7% | 16.0% | 1.29 | -4.1% |
| Equity (SPY) | 19.3% | 12.8% | 1.11 | 17.9% |
| Gold (GLD) | 29.8% | 29.0% | 0.89 | 12.5% |
| Commodities (DBC) | 41.3% | 20.4% | 1.58 | 7.4% |
| Real Estate (VNQ) | 9.2% | 13.7% | 0.40 | -3.2% |
| Bitcoin (BTCUSD) | -30.9% | 43.7% | -0.72 | 21.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IMCC | |
|---|---|---|---|---|
| IMCC | -78.3% | 126.0% | -0.65 | - |
| Sector ETF (XLV) | 6.2% | 15.1% | 0.23 | 2.9% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 8.4% |
| Gold (GLD) | 19.4% | 18.7% | 0.84 | 3.4% |
| Commodities (DBC) | 11.0% | 19.5% | 0.44 | 3.2% |
| Real Estate (VNQ) | 1.9% | 18.9% | -0.00 | 6.0% |
| Bitcoin (BTCUSD) | 9.5% | 52.7% | 0.36 | 7.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IMCC | |
|---|---|---|---|---|
| IMCC | -33.5% | 719.5% | 0.29 | - |
| Sector ETF (XLV) | 10.5% | 16.7% | 0.51 | 0.1% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 3.0% |
| Gold (GLD) | 12.3% | 16.3% | 0.62 | -2.7% |
| Commodities (DBC) | 7.6% | 18.1% | 0.34 | 2.3% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 6.1% |
| Bitcoin (BTCUSD) | 63.4% | 66.2% | 1.03 | -1.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 6-K |
| 03/31/2026 | 05/13/2026 | 6-K |
| 06/30/2025 | 08/12/2025 | 6-K |
| 03/31/2025 | 05/15/2025 | 6-K |
| 12/31/2024 | 03/31/2025 | 20-F |
| 09/30/2024 | 11/14/2024 | 6-K |
| 06/30/2024 | 08/14/2024 | 6-K |
| 03/31/2024 | 05/08/2024 | 6-K |
| 12/31/2023 | 03/28/2024 | 20-F |
| 09/30/2023 | 11/13/2023 | 6-K |
| 06/30/2023 | 08/14/2023 | 6-K |
| 03/31/2023 | 05/15/2023 | 6-K |
| 12/31/2022 | 03/29/2023 | 20-F |
| 09/30/2022 | 11/14/2022 | 6-K |
| 06/30/2022 | 08/15/2022 | 6-K |
| 03/31/2022 | 05/12/2022 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/13/2026 | 6-K |
| 03/31/2026 | 05/13/2026 | 6-K |
| 06/30/2025 | 08/12/2025 | 6-K |
| 03/31/2025 | 05/15/2025 | 6-K |
| 12/31/2024 | 03/31/2025 | 20-F |
| 09/30/2024 | 11/14/2024 | 6-K |
| 06/30/2024 | 08/14/2024 | 6-K |
| 03/31/2024 | 05/08/2024 | 6-K |
| 12/31/2023 | 03/28/2024 | 20-F |
| 09/30/2023 | 11/13/2023 | 6-K |
| 06/30/2023 | 08/14/2023 | 6-K |
| 03/31/2023 | 05/15/2023 | 6-K |
| 12/31/2022 | 03/29/2023 | 20-F |
| 09/30/2022 | 11/14/2022 | 6-K |
| 06/30/2022 | 08/15/2022 | 6-K |
| 03/31/2022 | 05/12/2022 | 6-K |
| 12/31/2021 | 04/04/2022 | 40-F |
| 09/30/2021 | 11/24/2021 | 6-K |
| 06/30/2021 | 08/17/2021 | 6-K |
| 03/31/2021 | 05/18/2021 | 6-K |
Industry Resources
| Health Care Resources |
| U.S. National Library of Medicine |
| ClinicalTrials.gov |
| Modern Healthcare |
| Healthcare Dive |
| Fierce Healthcare |
| Health Affairs |
| Health Data Management |
| FDA Tracker |
| Pharmaceuticals Resources |
| Fierce Pharma |
| Pharm Exec |
| Endpoints News |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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