iAnthus Capital Holdings, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Intangible Assets and Goodwill

Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 8 – Intangible Assets and Goodwill


	As of December 31, 2024
	Cost		Accumulated Amortization		Net Book Value
Licenses	$	114,418	$	44,550	$	69,868
Trademarks		11,111		9,451		1,660
Other		3,726		2,392		1,334
	$	129,255	$	56,393	$	72,862


	As of December 31, 2023
	Cost		Accumulated Amortization		Net Book Value
Licenses	$	139,920	$	44,777	$	95,143
Trademarks		29,100		20,497		8,603
Other		3,430		1,804		1,626
	$	172,450	$	67,078	$	105,372

During the year ended December 31, 2024, the Company recorded $0.2 million in intangible asset additions (December 31, 2023—$2.5 million), which is primarily attributable to internal-use software. The weighted average remaining amortization period for these additions is 13 years as of December 31, 2024.

During the year ended December 31, 2024, the Company had reclassified $18.4 million of intangible assets, net to assets classified as held for sale on the consolidated balance sheets, as it plans to sell licenses and trademarks in Arizona.

Amortization expense for the years ended December 31, 2024 and 2023 was $13.9 million and $13.9 million, respectively.

The estimated amortization expense for each of the years ended December 31, as follows:


2025	$	10,038
2026		9,750
2027		9,750
2028		9,500
2029		9,354
Thereafter		24,471

The following table summarizes the balances of goodwill as of December 31, 2024 and 2023:


	As of December 31,
	2024		2023
Balance, beginning of year	$	—	$	—
Acquisition of Cheetah		6,148		—
Impairment loss		—		—
Total	$	6,148	$	—