IM Cannabis Reports 2025 Results: Revenue of C$54.7 Million with Over 134% Growth in Germany and Positive Operating Cash Flow

IM Cannabis Corp. ("IMC" or the "Company") (Nasdaq: IMCC), a medical cannabis company with operations in Israel and Germany, today reported its audited consolidated financial results as of and for the full year ended December 31, 2025. The Company achieved a major operational milestone by generating positive cash flow from operating activities of C$4.7 million for the year ended December 31, 2025, a significant turnaround from negative cash flow in 2024, while delivering high revenue growth in Germany, completing financing transactions, and strengthening its cash position.2025 Key Highlights (All figures in CAD thousands): Revenue totaled $54,731, reflecting stability and demonstrating resilience despite ongoing challenges in Israel. Germany revenue surged more than 134% to $36,348 (up from $15,508 in 2024), now accounting for over 66% of total Group revenue. This growth underscores the success of the Company's EU-GMP-certified production and distribution platform following Germany's medical cannabis legalization. Gross profit increased approximately 15% to $9,686, driven by cost efficiencies, optimized supply chains, and higher-margin German sales. Cash flow from operating activities turned strongly positive at $4,716 (compared to negative cash flow of $1,077 in 2024), representing the first full year of positive operating cash flow in recent history and reflecting improved working capital management and operational discipline. Cash and restricted cash rose sharply to $3,309 (from $927 at year-end 2024), bolstered by strategic financings. Strengthened cash position through a private placement offering yielding net proceeds of $5,065, as well as the extension and partial conversion of convertible debentures.In line with its previously announced strategy to explore and introduce additional business activities aimed at enhancing long-term growth opportunities, the Company recently took a step toward diversification of its businesses. On March 17, 2026, IMCannabis announced the signing of a non-binding letter of intent to acquire 51% of Black Axe Technologies Spolka z Organiczona. ("Black Axe"), a Polish technology company specializing in advanced defense and intelligence solutions. This proposed transaction marks the Company's strategic entry into the high-growth defense and homeland security technology sectors, specifically targeting cyber drone interception (counter-UAS), satellite intelligence, imagery, and AI analytics.

IM Cannabis Reports 2025 Results: Revenue of C$54.7 Million with Over 134% Growth in Germany and Positive Operating Cash Flow

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