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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 reported record preliminary revenue of over CAD$31 million (NIS 77 million) for Q4 2021, a 250% year-over-year increase. This marks the eighth consecutive quarter of double-digit growth, with an annualized run rate of $124 million. The company anticipates continued increases in operating profit, EBITDA, and revenue growth into 2022. Additionally, InterCure is expanding its market presence with openings in Europe and has increased its pharmacy locations to 20 in Israel, capturing approximately 30% of the medical cannabis market.
InterCure Ltd (NASDAQ: INCR) announces a strategic partnership with Cookies to launch retail locations in Austria and the U.K. in early 2022. This multi-year agreement will enable InterCure to establish Cookies stores and medical cannabis pharmacies, leveraging its supply chain expertise to cater to the medical cannabis market in Europe. InterCure, already thriving in Israel, plans to replicate its successful business model as the European cannabis landscape evolves favorably.
Cookies announces a partnership with InterCure to expand into Europe, establishing retail locations in Austria and the U.K. in early 2022. This multiyear agreement allows InterCure to utilize its international supply chain to provide Cookies-branded products in these markets. Both companies aim to deliver quality cannabis products to the growing medical cannabis community. Cookies plans to enhance its brand presence internationally, leveraging its recognized status in the cannabis industry.
InterCure Ltd (NASDAQ: INCR) announces participation in Cowen’s 4th Annual Cannabis Conference from November 29 - December 1, 2021. CEO Alexander Rabinovitch will join the ‘International’ panel on November 30 at 11:50 a.m. ET. The event is virtual, allowing management to hold one-on-one meetings with institutional and corporate clients. InterCure, operating as Canndoc, is Israel's largest licensed cannabis producer and a leader in the rapidly growing cannabis market outside North America.
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.
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