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 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.