Welcome to our dedicated page for Intercure Ltd. SEC filings (Ticker: INCR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to InterCure Ltd. (INCR) SEC filings, giving investors and analysts a primary source for the company’s regulatory disclosures as a foreign private issuer. InterCure files its annual report on Form 20-F and furnishes interim information on Form 6-K, covering financial performance, corporate actions and material events related to its pharmaceutical cannabis operations.
Through Forms 6-K, InterCure submits press releases, condensed consolidated financial statements and management’s discussion and analysis for periods such as the first half of the year. These filings detail revenue, operating profit, net income or loss, cash positions and non-IFRS measures like Adjusted EBITDA for its cannabis segment. They also describe the impact of external events, including war-related damage to the Nir Oz facility and related compensation from Israeli authorities.
Other 6-K filings address strategic agreements and acquisitions, such as the share purchase agreement to acquire Botanico Ltd. (ISHI) and the investment and collaboration agreements with Cannasoul R&D Ltd. Filings also cover corporate governance matters, including notices and proxy materials for annual general meetings, and disclosures about financing transactions like private placements of ordinary shares and warrants or bank loans.
Stock Titan’s platform surfaces these filings in real time from EDGAR and adds AI-powered summaries that highlight key points from lengthy documents. Users can quickly see the main financial trends, understand the structure of acquisitions and collaborations, and identify risk disclosures without reading every page. In addition, Form 6-K reports related to counterparties, such as restructuring proceedings involving service providers, help readers assess operational and credit exposures within InterCure’s pharmaceutical cannabis business.
InterCure Ltd. reported 2025 revenue of NIS 270.2 million, up from NIS 238.8 million in 2024, alongside a net loss of NIS 36.8 million. The Company generated positive operating cash flow of NIS 17 million and cannabis-sector Adjusted EBITDA of NIS 46.6 million, marking a twelfth consecutive half-year of positive Adjusted EBITDA.
Operations continued to recover from damage to the Nir Oz facility caused by the October 7, 2023 events, with production, importation and sales resumed and a record 75+ new GMP SKUs launched in 2025. InterCure reported initial meaningful revenue contributions from Germany and pursued global expansion, including a share purchase agreement to acquire Botanico Ltd. (ISHI) and a 28% stake in Cannasoul R&D Ltd. The Company received NIS 82 million in war-related compensation advances against a submitted damages claim of NIS 251 million, and highlighted ongoing regulatory and legal developments as key forward-looking factors.
InterCure Ltd., an Israeli medical cannabis producer listed on Nasdaq and TASE under “INCR”, filed its annual Form 20-F for the year ended December 31, 2025. The company reports 54,681,335 ordinary shares outstanding as of December 31, 2025 and presents IFRS audited financial statements in NIS for 2023–2025.
The filing explains InterCure’s reliance on multiple Israeli medical cannabis licenses (IMC-GAP, IMC-GMP, IMC-GDP and IMC-GSP) and export/import permits, noting that any loss or non-renewal could severely disrupt operations. It highlights heavy regulatory uncertainty in Israel, Europe and the U.S., possible anti-dumping duties on Canadian imports, and evolving ESG and climate expectations.
InterCure describes serious risks from the October 7, 2023 attack, which caused devastating damage to its Southern Facility in Nir Oz; rehabilitation and the level of Israeli government compensation remain uncertain. Additional risks include crop failure, competition from licensed and black-market producers, potential product recalls and liability, cyber and data-privacy incidents, joint-venture dependence, currency and inflation pressures and geopolitical instability in Israel and the wider region.
Intercure Ltd. director Michelson Lennie Grinbaum filed a Form 3 reporting his initial ownership in the company. He holds 6,743 Ordinary Shares directly, along with two blocks of stock options over additional Ordinary Shares.
These include options over 4,406 Ordinary Shares with a converted exercise price of $8.22 per share, granted on January 9, 2020 and fully vested as of January 9, 2023, expiring on January 9, 2030. He also holds options over 15,000 Ordinary Shares with a converted exercise price of $3.10 per share, granted on September 5, 2024, vesting quarterly over four years and expiring on September 5, 2028.
Intercure Ltd. director Granot Alon Shmuel reported an initial holding of share options giving the right to buy 15,000 Ordinary Shares. These options carry an exercise price of $3.10 per share, based on converting a NIS 9.50 price at an exchange rate of NIS 3.06 to $1.00. The options were granted on September 5, 2024, vest quarterly over four years from the grant date, and expire on September 5, 2028.
Intercure Ltd. Chief Executive Officer Alexander Rabinovich filed an initial Form 3 showing his beneficial ownership of the company’s securities. The filing lists indirect holdings of Ordinary Shares through Green Forest Global (A.S.R) Ltd., D.I.M Investments Ltd., and D.I.M Risk Management Ltd., as well as a substantial block of Ordinary Shares held directly.
Rabinovich also reports derivative positions held directly, including 2,070,393 Warrants with an exercise price of $1.86 per share expiring on March 3, 2029, and 460,000 employee share options with an exercise price of $7.11 per share expiring on June 21, 2026.
Intercure Ltd. Chief Financial Officer Amos Cohen filed an initial ownership report showing his existing equity stake in the company. He directly holds Ordinary Shares plus several series of employee share options (right to buy) over Ordinary Shares.
The options cover 134,708 underlying Ordinary Shares expiring on March 14, 2027, 95,292 expiring on August 30, 2026, and 230,000 expiring on May 15, 2026, all at an exercise price of $1.94 per share. The filing also shows 79,947 Ordinary Shares held directly.
Footnotes explain the exercise price is based on a current price of NIS 5.938 per share, converted using an exchange rate of NIS 3.060 to $1.00 as of April 14, 2026. Two option grants were fully vested by March 14, 2025 and August 31, 2025, while the May 15, 2022 grant vests quarterly over four years.
Intercure Ltd. director Gideon Hirschfeld reported his existing holdings of stock options on the company’s ordinary shares. This Form 3 shows two option grants, both held directly, with different exercise prices, vesting terms, and expiration dates.
One option grant covers 4,046 underlying ordinary shares with an exercise price of $8.22 per share, expiring on January 9, 2030. These options were granted on January 9, 2020 and became fully vested on January 9, 2023. A second grant covers 15,000 underlying ordinary shares with an exercise price of $3.10 per share, expiring on September 5, 2028, and vests quarterly over four years from the September 5, 2024 grant date.
Intercure Ltd. director David Salton filed an initial Form 3 detailing his existing option holdings, rather than new trades. He reports share options over 4,046 ordinary shares with a converted exercise price of $8.22 per share, expiring on January 9, 2030; these options were granted in 2020 and became fully vested on January 9, 2023. He also reports share options over 15,000 ordinary shares with a converted exercise price of $3.10 per share, expiring on September 5, 2028, which were granted on September 5, 2024 and vest quarterly over four years.
InterCure Ltd. reported that it received a Nasdaq notice on February 25, 2026 stating that its ordinary shares failed to meet the minimum bid requirement, having closed below $1.00 for 30 consecutive business days. Under Nasdaq rules, InterCure has until August 24, 2026 to regain compliance by maintaining a closing bid price at or above $1.00 for at least 10 consecutive business days.
The company expects it could qualify for an additional 180‑day grace period if it meets other Nasdaq Capital Market standards and applies to transfer. InterCure is monitoring its share price and is considering a reverse share split, subject to corporate and regulatory approvals, as part of its plan. Its shares will continue trading on the Nasdaq Global Market while it works to restore compliance.
InterCure Ltd. announced preliminary 2025 results showing estimated revenue of NIS 265 million, about 11% higher than 2024, and positive Adjusted EBITDA. This marks the company’s twelfth consecutive half-year with positive Adjusted EBITDA and demonstrates continued profitability in its cannabis operations.
Revenue in the second half of 2025 was nearly 20% above the same period a year earlier, supported by the company’s first significant revenues from the German market. InterCure reported cash of NIS 43 million, including restricted cash and deposits, and plans to publish full audited 2025 results in an annual report by the end of April 2026.