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Intercure Ltd. (dba Canndoc) (Nasdaq: INCR) (TSX: INCR.U) (TASE: INCR) is a leading, profitable, and rapidly expanding cannabis company operating outside of North America. As a prominent player in the global cannabis market, Intercure is the parent company of Canndoc, Israel's largest licensed cannabis producer. Canndoc is renowned for being one of the first companies to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products.
Intercure's diversified operations include the cultivation, production, and distribution of pharma-grade cannabis products. Their offerings are supplied to a wide range of clients, including hospitals, pharmacies, research institutions, and government organizations, ensuring a broad and impactful reach.
Intercure operates through two primary segments: the Cannabis segment and the Biomed segment. Notably, the Cannabis segment is the major revenue driver, reflecting the company's strategic focus and expertise in this area. Intercure's business model is vertically integrated from 'seed-to-sale,' allowing for high margins and effective quality control.
Recent achievements include leveraging its market-leading distribution network and forming best-in-class international partnerships. These initiatives facilitate the delivery of top-quality cannabis products globally.
For more detailed and up-to-date information, investors and interested parties are encouraged to visit the official website at Intercure.co.
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.
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.
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