Welcome to our dedicated page for Intercure Ltd. news (Ticker: INCR), a resource for investors and traders seeking the latest updates and insights on Intercure Ltd. stock.
Intercure Ltd (INCR) delivers pharmaceutical-grade medical cannabis through its vertically integrated operations, maintaining GMP certification across production facilities. This news hub provides investors and healthcare professionals with essential updates on regulatory developments, research advancements, and strategic partnerships.
Access timely announcements about cultivation innovations, international distribution expansions, and compliance milestones. Our curated collection features earnings reports, product approvals, and biomed research breakthroughs that shape the medical cannabis sector.
Key updates include manufacturing process enhancements, new market entries, and collaborations with healthcare institutions. Bookmark this page for structured access to operational developments and quality assurance initiatives that maintain Intercure's position as a global cannabis industry leader.
InterCure reported a remarkable third quarter in 2021, achieving a record revenue of $25 million, a 36% increase sequentially and threefold growth year-over-year. With an annualized revenue run rate of $100 million and an adjusted EBITDA run rate of $23 million, the company demonstrated strong operational performance. Cash flow from operations reached $4 million, marking five consecutive quarters of positive cash flow. The company expects continued growth through 2022, driven by strategic expansions and a solid cash reserve of $85 million.
InterCure has expanded its GIVOL pharmacy chain by adding four new locations in Israel, totaling 20 pharmacies. This move strengthens its market position in the pharmaceutical-grade medical cannabis sector, with 14 pharmacies licensed to dispense medical cannabis. In October 2021, InterCure achieved a record of one ton of medical cannabis products dispensed in a month, capturing about 30% of Israel's medical cannabis market. The company aims to enhance patient access to medical cannabis and expand its operations globally.
InterCure (NASDAQ: INCR) is set to release its third-quarter financial results on November 16, 2021, before the market opens. A conference call will follow at 8:30 AM ET, discussing the results and the company's growth strategy. InterCure, operating under the brand Canndoc, is Israel's largest licensed cannabis producer and claims to be the fastest-growing cannabis company outside North America. The firm has a vertically integrated model, ensuring high-margin operations.
InterCure (NASDAQ: INCR) announced a record revenue of CAD$24 million for Q3 2021, marking a 36% increase from Q2 and tripling the revenue compared to Q3 2020. This achievement marks the seventh consecutive quarter of double-digit revenue and high-digit profitable growth. The CEO purchased over CAD$3.7 million worth of shares, reflecting confidence in the company. With over CAD$78 million in cash, InterCure is well-positioned for expansion in both domestic and international markets, supported by the anticipated legalization of adult-use cannabis in Israel.
InterCure Ltd (NASDAQ: INCR) announced that CEO Alexander Rabinovitch will present at the Benzinga Cannabis Capital Conference on October 14, 2021, at 1:50 PM ET, with a repeat on October 15 at the same time. Additionally, he will participate in a panel discussion on the expansion of cannabis in European markets on October 15 at 2:10 PM ET. Interested attendees can view the presentation and panel online. InterCure, operating as Canndoc, is Israel’s largest licensed cannabis producer and is recognized for its GMP-certified medical cannabis products.
InterCure Ltd (NASDAQ: INCR) announced that CEO Alexander Rabinovitch bought 423,501 shares of the company's common stock in September 2021 at an average price of USD $7.03 per share, totaling USD $2,975,730. These purchases were made on NASDAQ and the Tel Aviv Stock Exchange. InterCure, operating as Canndoc, is Israel's largest licensed cannabis producer and one of the fastest-growing cannabis companies outside North America, leveraging a high-margin, vertically integrated model and robust distribution network.
InterCure Ltd (NASDAQ: INCR) will present live at VirtualInvestorConferences.com on September 9, 2021, at 11:30 AM ET. During this interactive event, investors can ask questions in real-time. Archived webcasts will be available post-event. InterCure is a leading, profitable cannabis operator outside North America, with its subsidiary Canndoc being Israel's largest licensed cannabis producer. The company recently reported Q2 '21 revenue growth of 400% YoY and signed an agreement to acquire strategic assets from Cannomed.
InterCure achieved record revenue of NIS 45 million (over CAD$17 million) in Q2 2021, marking a 400% year-over-year increase and a 37% rise compared to Q1 2021. The company reported an EBITDA of NIS 12 million ($5 million) and a margin of 26%. With a strong cash position of NIS 201 million ($78 million), positive operational cash flow was maintained for the fourth consecutive quarter. Revenue growth is anticipated to continue into Q3 and beyond, supported by market expansion and the introduction of new product lines like Cookies™. The acquisition of Better is also in progress, expected to strengthen market leadership.
InterCure (NASDAQ: INCR) has announced the acquisition of key assets from Cannomed, including 55% of Max Pharm, 100% of a pharmacy awaiting licensing, and 51% of a patient support center. This strategic move enhances InterCure's distribution channels amid a 4% monthly growth in medical cannabis patients in Israel. The partnership will also launch an innovative e-commerce platform for medical cannabis products. This acquisition aligns with InterCure's consolidation strategy in the Israeli medical cannabis market and is expected to strengthen its position and profitability.
InterCure Ltd (NASDAQ: INCR) has officially started trading on Nasdaq, marking a significant milestone for the company, which is recognized as a leading cannabis operator outside North America. The shares will also continue trading on the Toronto Stock Exchange and Tel Aviv Stock Exchange.
Chairman Ehud Barak emphasized the listing would enhance investor access and accelerate business growth. CEO Alexander Rabinovitch stated the company is the fastest growing and profitable cannabis firm globally outside North America, reporting a record Q2 '21 revenue growth of 4 times year-over-year.
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