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 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.
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.
