Intercure Ltd. Stock Price, News & Analysis

Organigram Holdings has announced a multi-year agreement with InterCure for the supply of up to 20,000 kg of dried cannabis over several years. This follows a previous agreement from June 2020, which successfully fulfilled a 3,000 kg minimum supply requirement. The new deal includes a commitment of 10,000 kg with an option for an additional 10,000 kg. As of now, approximately 2,800 kg has been delivered. This exclusive supply agreement aims to enhance collaboration and support InterCure's international expansion plans, ensuring compliance with local regulations.

Organigram is set to supply InterCure with up to 20,000 kg of dried cannabis flower over several years, following a successful 3,000 kg supply agreement fulfilled since June 2020. This new multi-year agreement includes an initial commitment of 10,000 kg with an option for an additional 10,000 kg within three years. Approximately 2,800 kg has already been delivered. The collaboration aims to support both companies’ international expansion strategies, contingent upon compliance with local regulations.

InterCure Ltd. (NASDAQ: INCR) announced strong financial results for Q3 2022, marking its eleventh consecutive quarter of profitable revenue growth. The company reported a record revenue of $39 million, a 63% year-over-year increase, with an annualized revenue run rate of $155 million. Adjusted EBITDA rose 58% to $9 million, representing 22% of revenues. The robust financial position includes $92 million in cash. InterCure continues to expand its operations, having launched over 10 new products and increased its pharmacy locations to 25.

InterCure Ltd. (NASDAQ: INCR) reported significant financial growth for Q3 2022, achieving record revenues of $39 million, a 63% increase year-over-year. This marks the eleventh consecutive quarter of growth, with an annualized revenue run rate exceeding $155 million. Adjusted EBITDA surged 85% to $9 million, representing 22% of revenues. The company also expanded its product offerings, launching over 10 new GMP SKUs and growing its pharmacy chain to 25 locations. InterCure is well-positioned for continued profitability, as indicated by a net profit run rate of $12 million and a strong balance sheet with $93 million in cash.

InterCure (NASDAQ: INCR) announces record preliminary Q3 2022 financial results, estimating revenue at CAD$39 million, a 63% increase year-over-year and a sequential growth of over 6%. This marks the eleventh consecutive quarter of profitability, projecting an annualized run rate exceeding CAD$155 million. With a robust demand for Canndoc's products, the company continues to expand its operations and product portfolio, introducing over 10 new GMP SKUs. The complete financial results will be filed on November 15, 2022.

Intercure Ltd. held its Annual and Special General Meeting of shareholders on September 15, 2022, in Bnei Brak, Israel, where all proposals in the management information circular dated August 10, 2022, were approved. The four nominees for directorship were elected, including Ehud Barak and Alexander Rabinovitch, with a significant majority of votes for each. The meeting also approved the new Israeli Option Plan and various stock option grants and compensation increases for executives. The meeting's voting results are available on SEDAR.

InterCure reported record revenue of $37 million in Q2 2022, marking a 119% year-over-year growth and an annualized run rate of $150 million. Adjusted EBITDA rose 90% YoY to $9 million, with net income increasing to $6 million. This achievement represents the tenth consecutive quarter of profitable growth and eighth quarter of positive cash flow. The company exited Q2 with $96 million cash on hand and anticipates continued revenue growth into Q3 2022. Expansion efforts include the opening of new pharmacies and retail locations, highlighting strong market demand for their products.

InterCure (NASDAQ: INCR) plans to release its second-quarter financial results on August 15, 2022, post-market. The company, known for being Israel's largest licensed cannabis producer and a leader in the global cannabis market outside North America, emphasizes its high-margin, vertically integrated model. Following the results announcement, a live conference call will occur on August 16, 2022, at 8:30 AM ET to discuss the implications of the financial data.

InterCure reported record preliminary revenue of CAD$36 million (NIS 95 million) for Q2 2022, more than double last year's figures.

Sequential growth reached over 9%, marking the tenth consecutive quarter of profitability and an annualized run rate of CAD$143 million.

The company anticipates continued revenue increases in Q3 2022, driven by strong demand for Canndoc's products and expansion in the medical cannabis market.

New flagship retail locations in Vienna and Be'er Sheva support this growth.