Welcome to our dedicated page for Intercure news (Ticker: INCR), a resource for investors and traders seeking the latest updates and insights on Intercure stock.
InterCure Ltd. reports developments for a medical cannabis company operating as Canndoc, with activities in research, cultivation, production and distribution of pharmaceutical-grade cannabis products. Company updates commonly cover financial results, Adjusted EBITDA, operating cash flow, recovery of production and sales after damage to its southern facility, and the role of Canndoc as a licensed Israeli cannabis producer with GMP-certified products.
News also includes international market activity and partnerships, including German market revenue and brand collaborations, as well as cannabis regulatory developments in the United States and Europe. Corporate items include Nasdaq minimum bid compliance, ordinary-share capital actions, annual meeting matters, material agreements and board leadership changes.
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.
InterCure announced the opening of its first Cookies flagship store in Vienna, Austria, marking the introduction of its CBD menu in Europe. The store also offers lifestyle products and plans to provide pharmaceutical-grade medical cannabis as regulations evolve. This launch is part of a broader strategy for European expansion following previous successful collaborations. CEO Alexander Rabinovitch highlighted the achievement as a significant milestone in their growth strategy and commitment to quality cannabis products.
InterCure (NASDAQ: INCR) has opened its flagship Cookies pharmacy in Be'er Sheva, Israel, marking a significant expansion in the medical cannabis sector. This pharmacy, the largest dedicated location globally, spans over 1,000 square meters and features Israel's largest pharmacy safe room for cannabis storage. The opening aims to enhance access to high-quality cannabis products for patients in the southern region. The event includes festivities and special offers, demonstrating InterCure's commitment to serving local medical cannabis needs.
InterCure reported record revenue of $34 million for Q1 2022, a 162% increase year-over-year. Adjusted EBITDA rose 112% to $8 million, marking the ninth consecutive quarter of profitable growth. Net income stood at $6 million, compared to $2 million in Q1 2021. The company holds $91 million in cash and added three pharmacies, bringing the total to 23. Global expansion efforts are on track, including operations launching in Europe. Revenue growth is anticipated to continue throughout 2022, underpinned by strategic partnerships and acquisitions.
InterCure Ltd (NASDAQ: INCR) announced plans to release its financial results for Q1 2022 on May 16, 2022, after market close. A conference call is scheduled for May 17, 2022, at 8:00 am ET to discuss these results and the company's recent milestones and growth strategy. InterCure is recognized as the leading and fastest-growing cannabis company outside North America, with its subsidiary Canndoc being Israel’s largest licensed producer of medical cannabis.
InterCure (NASDAQ: INCR), also known as Canndoc, announced participation in two investor conferences in May 2022. The conferences are:
- Canaccord Genuity 6th Annual Cannabis Conference on May 11, 2022
- Cowen 2nd Annual European Cannabis Conference on May 12, 2022
Management will engage in one-on-one meetings at these events. InterCure is recognized as the leading and fastest-growing cannabis company outside North America, with Canndoc being Israel's largest licensed cannabis producer.
InterCure (NASDAQ: INCR) has announced that its CEO, Alexander Rabinovitch, will participate in the Alliance Global Partners Spring Consumer Cannabis Conference on May 3, 2022. As a leading cannabis company outside North America, InterCure, through its wholly owned subsidiary Canndoc, is Israel's largest licensed cannabis producer. The company focuses on manufacturing pharmaceutical-grade medical cannabis products and utilizes a high-margin, vertically integrated model, positioning it as a significant player in the global cannabis market.
InterCure reported strong financial results for Q4 2021 with record revenue of $33 million, a 29% sequential growth, and annual revenue of $89 million, marking a 230% increase year-over-year. Adjusted EBITDA reached $9 million, reflecting a 140% rise from the previous year. The company maintains a solid balance sheet with $89 million in cash. Positive developments include the expansion into Europe, signing a definitive agreement to acquire Better, and a partnership with Charlotte's Web targeting the new CBD market. InterCure continues to capture approximately 30% of Israel’s medical cannabis market.