IM Cannabis Corp. (IMCC)

Nasdaq: IMCC · Medicinal Chemicals & Botanical Products · Central District, IL · filing with the SEC since 2019

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Grade4.8

◀ Past 6.4● Present 4.3▶ Future 3.7

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of IM Cannabis Corp.

Nine metrics read from its own filings, by tense

Headline grade

4.8/10

◀ Past6.430% of the headline

● Present4.340% of the headline

▶ Future3.730% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.4/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

8.3/10

Has it survived what it has been through?

No warning events in its filings since 2019.

weight 33% of this tense · 83rd percentile among 20 sector filers · read for itself

From the record

IM Cannabis Corp.'s filings since 2019 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

5.6/10

What has it actually done, year after year?

+34.9% a year over 7 filed years; profitable in 0 of 7.

weight 45% of this tense · 56th percentile among 18 sector filers · read for its customers

From the record

IM Cannabis Corp.'s 7 filed years say what it did: revenue went from CAD 9 million in fiscal 2019 to CAD 55 million in fiscal 2025, up 34.9% a year; it rose in 5 of 6 years; the deepest fall was 10% from fiscal 2022 to fiscal 2023; net income was positive in 0 of 7 of those years (its annual reports).

What it rests on

revenue growth over the filed span34.9%top 25% of its family
the share of years revenue rosetop 25% of its family
the share of filed years with a profitbottom 14% of its family
the deepest fall from a revenue peak10.2%top 42% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

5.3/10

How has it treated the people who own it?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 14 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 14 members with one.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: family median, 14 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: IM Cannabis Corp.'s shareholder treatment is put at 5.3 of 10 with a confidence of 20 of 100, because fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 14 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.3/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

4.5/10

Is it financially healthy right now?

Leverage 111%: owes 111¢ per asset dollar.

weight 45% of this tense · 46th percentile among 20 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, IM Cannabis Corp.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 31 cents per dollar of everything the company owns. Leverage: it owed about 111 cents per dollar of assets (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 18% of its family
gross profit against assetstop 26% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

3.6/10

How strong is its position in its industry?

bottom 36% of 18 in its family; net margin -21.5%.

weight 33% of this tense · 36th percentile among 18 sector filers · read for its customers

From the record

IM Cannabis Corp.'s standing among 18 graded names in its industry family: revenue of CAD 55 million in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of -21.5% ranks in the bottom 25%; revenue growth of 0.2% a year over the last 3 filed years ranks in the bottom 47% (its annual reports).

What it rests on

net margin-21.5%bottom 25% of its family
three-year revenue growth0.2%bottom 47% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 12 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 12 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 12 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: IM Cannabis Corp.'s leadership is put at 5.0 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 12 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.7/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

3.2/10

How much room does it have to grow?

bottom 32% of 18 in its family for room to expand.

weight 45% of this tense · 32nd percentile among 18 sector filers · read for itself

From the record

IM Cannabis Corp.'s room to grow, from the newest filed statements (fiscal 2025): cash of CAD 3 million against debt of CAD 15 million leaves -39.5% of its assets as net cash, bottom 13% of its family; cash from operations less capital spending is 8.6% of revenue (top 25%); a gross margin of 17.7% (bottom 9%) (its annual report).

What it rests on

cash less debt against assets-39.5%bottom 13% of its family
cash from operations less capital spending against revenue8.6%top 25% of its family
gross margin17.7%bottom 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

2.2/10

What could actually drive growth from here?

bottom 22% of 18 in its family for growth drivers.

weight 33% of this tense · 22nd percentile among 18 sector filers · read for its customers

From the record

IM Cannabis Corp.'s growth drivers, from the filed years to fiscal 2025: revenue grew 0.2% a year over the last three filed years against 34.9% over all 7, slowing (bottom 31% of its family); the newest year grew 1.3% (bottom 42%); research spending grew -41.6% a year (bottom 13%); capital spending grew -79.7% a year (bottom 3%) (its annual reports). IM Cannabis Corp. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-34.7 points a yearbottom 31% of its family
the newest year's revenue growth1.3%bottom 42% of its family
three-year growth of research spending-41.6%bottom 13% of its family
three-year growth of capital spending-79.7%bottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

6.8/10

Did its newest year beat what its own record pointed to?

top 32% of 18 in its family for expectations against reality.

weight 22% of this tense · 68th percentile among 18 sector filers · read for its shareholders

From the record

IM Cannabis Corp.'s newest year against its own record: revenue of CAD 55 million in fiscal 2025 came in 1.6% above the CAD 54 million its prior three years' pace pointed to (top 36% of its family); net income of CAD 12 million against a prior three-year average of CAD 71 million (top 36%); a net margin of -21.5% against losses larger than its revenue before (top 25%) (its annual reports).

What it rests on

revenue against the prior three years' pace1.6%top 36% of its family
net income against the prior three years' average+84%top 36% of its family
net margin against its prior averageup more than 100 pointstop 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton IMCC · research, not advice