iAnthus Capital Holdings is a publicly traded, vertically integrated U.S. cannabis operator rather than a single consumer label. Through its wholly owned subsidiary iAnthus Capital Management and other licensed entities it cultivates, processes, wholesales and retails cannabis in state-regulated markets. Its brand portfolio includes MPX, Anthologie, Black Label, Cheetah, Frūtful, Last Resort, Moodz, Sunshine State and The Vault.
How the company is structured
The parent is a holding company whose operating assets sit in U.S. subsidiaries and licensed entities, combining owned operations, management arrangements, minority interests and state-specific licences. The iAnthus name is the corporate platform; shoppers encounter the local retail banners and product brands. Its offices are in Brandon, Florida and Toronto, Ontario.
Retail footprint
The company's retail operations page lists 18 GrowHealthy dispensaries plus delivery in Florida, four Health for Life stores in Arizona and three in Maryland, three Massachusetts locations including Mayflower, four Be. dispensaries in New York, an MPX NJ store in Atlantic City, and three licensed Nevada locations. Be. is the newer retail brand, opened first in Staten Island.
Cultivation and production
Florida production runs from a 33-acre Lake Wales campus with more than 150,000 square feet of space. Other facilities include sites in Holliston and Fall River, Massachusetts; roughly 42,000 square feet in Arizona; 29,000 square feet in Las Vegas; Gaithersburg, Maryland; and Pleasantville, New Jersey.
Products and house brands
iAnthus sells flower, pre-rolls, edibles, topicals, vape cartridges, concentrates, live resin, wax, oils and tinctures. MPX, short for Melting Point Extracts, is its best-known concentrates brand, working in hydrocarbon, CO2 and solvent-free extraction and supplying more than 150 wholesale partners in Arizona, Nevada and Maryland. Anthologie covers premium flower, Last Resort ready-to-roll ground flower, Black Label concentrates and Frūtful extracted products.
Financial position
For fiscal 2025 iAnthus reported revenue of $144.0 million, down 14.1% year over year, a net loss of $40.2 million and adjusted EBITDA of $13.0 million. Justin Vu is chief financial officer. The company completed a court-approved recapitalization on June 24, 2022, in which secured and unsecured lenders received 97.25% of the post-transaction common shares and prior shareholders retained 2.75%.