InterCure Ltd, together with its subsidiaries, engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Israel and internationally. It also invests in biomed sector. The company was incorporated in 1994 and is headquartered in Herzliya, Israel.
IPO Year:
Exchange: NASDAQ
Website: intercure.co
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/18/2022 | $13.00 | Speculative Buy → Buy | Canaccord Genuity |
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Revenues during the first half of 2024 reached NIS 126 million, alongside an Adjusted EBITDA1of NIS 21 million (Approximately 17% of revenues).Both quarters (Q1 and Q2 of 2024) ended with positive EBITDAs and profit from operations and represents InterCure's 16th and 17th consecutive quarter of profitability2.Revenues for the first half of 2024 were affected by damages caused by the terrorist attack on October 7, 2023, and the war in Gaza. InterCure is entitled to full compensation from the Israeli authorities for all direct and indirect damages caused to its Southern Facility located at Kibbutz Nir Oz. To date, InterCure has already received tens of millions of NIS as partial advance paymen
InterCure expands its European footprint to launch Cookies Corners licensed pharmacies in Germany alongside differentiated online platforms with the official cookies retail experience, enhancing branded product offerings with the most-recognized global cannabis brand. InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading vertically integrated medical cannabis company outside of North America, is announcing a new strategic agreement with Cookies, the globally recognized cannabis brand, to cultivate, manufacture, import and distribute Cookies' branded products, produced from its cultivation and manufacturing facilities, initially in 8 licensed b
InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc), the leading medical cannabis company outside of North America, today announced that it will participate in the Canaccord Genuity 8th Annual Global Cannabis Conference. The conference is scheduled for tomorrow, May 23, 2024, at the Westin NY Grand Central Hotel in New York City. This prestigious event will bring together senior management teams from leading cannabis companies including InterCure CEO Alex Rabinovitch, to engage in panel discussions, fireside chats, and one-on-one meetings. For more information about the event please refer to the following link: https://www.canaccordgenuity.com/capital-markets/events-and-conferences/
Revenues during 2023 reached NIS 356 million, alongside an Adjusted EBITDA1 of NIS 61 million (Approximately 17% of revenues), as compared to an Adjusted EBITDA of NIS 51 million in our preliminary results. The Company's cash2 on hand was NIS 111 million. Both Q3&Q4 ended with positive EBITDAs and profit from operations3 and represents InterCure's fourteenth & fifteenth consecutive quarter of profitability4. Revenues for H2 2023 were affected by damages caused by the terrorist attack on October 7, 2023 and the war in Gaza. InterCure is entitled to full compensation from the Israeli authorities for all direct and indirect damages caused to the Southern Facility. To date, InterCure
Revenues for H2 2023 were affected by damages caused by the terrorist attack on October 7, 2023 and the war in Gaza. However, InterCure it is entitled to full compensation from the Israeli authorities for all direct and indirect damages caused. To date, InterCure has already received tens of millions of shekels as partial advanced payments from the Israeli authorities. H2 2023's estimated EBITDA1 to reach over NIS 20 million and over 14% of revenues. Both Q3&Q4 ended with positive EBITDAs and profit from operations and represents InterCure's fourteenth & fifteenth consecutive quarter of profitability2. Expects to launch its first products in Germany in the coming months and contin
InterCure provides an update following recent Cannabis Reform in Germany Expects to launch its first products in Germany in the coming months The Company continues to closely watch developments surrounding Cannabis rescheduling in the U.S. InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading medical cannabis company outside of North America, is thrilled to congratulate The Federal Republic of Germany for the passing of the "CannG" Cannabis Act, which is expected to take effect on April 1, 2024. On the backdrop of this monumental development, InterCure expects to launch a series of products in Germany in the coming months. While the
NEW YORK, and HERZLIYA, Israel, Feb. 13, 2024 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading medical cannabis company in Israel and outside of North America, reports today that, further to the Company's press release issued on October 17, 2023, in which the Company provided an update regarding the status of the security situation in Israel, and its impact on the Company and its employees, the Company is providing an additional update regarding the status of its facility in Kibbutz Nir Oz (the "Southern Israel Site"). Since October 7, 2023, war situation was declared by the Israeli government. As of this date, there
NEW YORK, and HERZLIYA, Israel, Jan. 31, 2024 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading medical cannabis company in Israel and outside of North America, announced today that it has entered into a share purchase agreement (the "Agreement") with the shareholders of Leon Pharm Ltd. (the "Sellers", and "Leon Pharm", respectively) to purchase Leon Pharm, a leading, Israel-based pharmacy chain specializing in dispensing medical cannabis in Israel, by way of a share purchase of all of the issued and outstanding share capital of Leon Pharm (the "Transaction"). At the closing, InterCure will cause between 1,755,000 to
NEW YORK and HERZLIYA, Israel , Oct. 31, 2023 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading medical cannabis company in Israel and outside of North America, reports today that, further to the Company's press release issued on August 31, 2023, in which the Company reported that the Tel Aviv-Jaffa District Court dismissed the lawsuit that filed against the Company by minority shareholders of its subsidiary, Cannolam Ltd. ("Cannolam"), and the parties agreed on a binding arbitration process (the "Arbitration"), in which the amount owed to the Company and the parties will be determined and paid as part of a full separati
NEW YORK, and HERZLIYA, Israel, Oct. 17, 2023 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading medical cannabis company in Israel and outside of North America, today addressed the status of the security situation in the State of Israel, and its impact on the Company and its employees. On October 7, 2023, Hamas terrorists infiltrated Israel's southern border (the "Israeli Southern Border") from the Gaza Strip and conducted a series of attacks on civilian and military targets. Hamas also launched extensive rocket attacks on Israeli population and industrial centers located along Israel's border with the Gaza Strip and in
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Canaccord Genuity upgraded InterCure from Speculative Buy to Buy and set a new price target of $13.00
Some European cannabis companies are already planning initial public offerings (IPOs) on the Nasdaq, encouraged by the prospect of a less restrictive regulatory environment. The potential rescheduling of cannabis to Schedule III of the Controlled Substances Act and Germany’s recent decriminalization have ignited optimism within the sector. Grow Group, a UK-based medical cannabis distributor, is spearheading this movement with a planned Nasdaq IPO in early 2025. CEO Benjamin Langley told the Financial Times about the investors' interest in the industry. “What we’re seeing now, is that loosening up such that people are deploying funds and there is money again in this space,” he said. Somai P
The potential rescheduling of cannabis in the U.S. and the growing demand in Germany positions InterCure (NASDAQ:INCR), the leading seller of pharmaceutical cannabis outside North America, to capitalize on these opportunities, according to a recent initiation note by Pablo Zuanic of Zuanic & Associates. Zuanic highlighted said that "InterCure's experience in Israel, a market five years ahead of Germany in development, gives it a competitive edge." He also noted that "down the road, INCR could enter the U.S. market if FDA-approved and controlled pharmaceutical cannabis is federally legalized. In a global industry context, InterCure has strategic value." Market Position And Growth Potential
Steady Financial Growth InterCure Ltd. (NASDAQ:INCR) achieved significant financial success in FY2023, reporting a total revenue of approximately USD 95.2 million. The company showcased an adjusted EBITDA of around USD 16.3 million, representing 17% of its total revenues. This performance marks an improvement over the preliminary results, which estimated an adjusted EBITDA of around USD 13.6 million. Navigating Operational Challenges InterCure maintained its profitability streak, ending the third and fourth quarters of 2023 with positive EBITDA and operational profits. The company effectively managed crisis impacts, related to the Gaza conflict, which affected installations. InterCu
InterCure Ltd. (NASDAQ:INCR) (TASE: INCR), an Israeli cannabis company doing business as Canndoc, announced its preliminary results on Monday for the full year of 2023. Preliminary H2 2023 Financial Highlights Revenue is estimated at NIS 140 million ($38.1 million). Adjusted EBITDA is estimated to reach over NIS 20 million ($5.44 million) and over 14% of revenues. Both Q3&Q4 ended with positive adjusted EBITDA and profit from operations. Preliminary Full Year 2023 Financial Highlights Annual revenue for 2023 is estimated at NIS 351 million ($95.4 million). Adjusted EBITDA for 2023 is estimated at over NIS 50 million ($13.6 million). InterCure expects sequential dou
InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading medical cannabis company in Israel and outside of North America, reports today that, further to the Company's press release issued on October 17, 2023, in which the Company provided an update regarding the status of the security situation in Israel, and its impact on the Company and its employees, the Company is providing an additional update regarding the status of its facility in Kibbutz Nir Oz (the "Southern Israel Site"). Since October 7, 2023, war situation was declared by the Israeli government. As of this date, there is limited access to the Southern Israel Site, and parts of the si
InterCure Ltd. (NASDAQ:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company"), the leading medical cannabis company in Israel and outside of North America, today addressed the status of the security situation in the State of Israel, and its impact on the Company and its employees. On October 7, 2023, Hamas terrorists infiltrated Israel’s southern border (the “Israeli Southern Border”) from the Gaza Strip and conducted a series of attacks on civilian and military targets. Hamas also launched extensive rocket attacks on Israeli population and industrial centers located along Israel’s border with the Gaza Strip and in other areas within the State of Israel. These attacks resulted in e
NEW YORK, TORONTO, and HERZLIYA, Israel, April 03, 2023 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc)("InterCure" or the "Company") announced today that it has rescheduled its previously announced conference call to discuss the company's financial results for the full year ended December 31, 2022. The call was originally scheduled for April 3 at 4:30 P.M. (Eastren time) but has been rescheduled to April 4, at 4:30 P.M. (Eastren time) due to unforeseen circumstances which caused technical issues. Participants can access the live webcast and conference call through the following link: https://register.vevent.com/register/BIdec7603751894ebcbf0f22eca9
Record fiscal year 2022 revenue of $150 million Record fiscal year 2022 Adjusted EBITDA* of $32 million Record fiscal year 2022 net income of $17 million Generated $20 Million cash flow from operations Strong balance sheet with over $95 million cash NEW YORK, TORONTO, and HERZLIYA, Israel, March 31, 2023 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company") is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2022. All amounts are expressed in New Israeli Shekels (NIS) or Canadian dollars ($), unless otherwise noted. Full Year 2022 Key Financial & Operating High
Record revenue of over $37 millioni in the second quarter of 2022 Representing an annual run rate of $150 million Adjusted EBITDAii for Q2 increased 90% YoY to $9 million Net income of $6 million for the Q2 of 2022 compared to $2 million in Q2 of 2021 Tenth consecutive quarter of profitable growth Eighth consecutive quarter of positive cash flow from operations $96 million cash on hand Revenue growth expected to continue in the third quarter and throughout 2022 NEW YORK and TORONTO and HERZLIYA, Israel, Aug. 15, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) ("InterCure" or the "Company") is pleased to announce its financial results
NEW YORK and TORONTO and HERZLIYA, Israel, Aug. 11, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc)("InterCure" or the "Company") today announced that it plans to release financial results for the second quarter of 2022 after market close on Monday, August 15, 2022. InterCure executives will host a live conference call and audio webcast to discuss these results on Tuesday, August 16, 2022, at 8:30 am Eastern Time, details of which are provided below. To access the conference call, participants can register through the following URL: https://register.vevent.com/register/BI5e6af40482ac4b7bb3024b6aad2c8185. Once registered participants will recei
Record revenue of $341 million in the first quarter of 2022 Adjusted EBITDA2 increased almost 110% year-over-year to $8 million Net income of $6 million for the Q1 of 2022 compared to $2 million in Q1 of 2021 Seventh consecutive quarter of positive cash flow from operations $91 million cash on March 31, 2022 Revenue growth expected to continue in the second quarter and throughout 2022 NEW YORK and TORONTO and HERZLIYA, Israel , May 16, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc)("InterCure" or the "Company") is pleased to announced its financial results for the first quarter of 2022 and is pleased to provide sha
NEW YORK and TORONTO and HERZLIYA, Israel, May 16, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc)("InterCure" or the "Company") today announced that it plans to release financial results for the first quarter of 2022 after market close on Monday, May 16, 2022. The Company will conduct a conference call on Tuesday, May 17, 2022, at 8:00a.m. (Eastern Time) to review the results as well as provide an overview of the Company's recent milestones and growth strategy. InterCure executives will host a live conference call and audio webcast to discuss these results on Tuesday, May 17, 2022, at 8:00 am Eastern Time, details of which are provided below.
Another record year with continued industry leading growth and profitability supported by focused strategy and execution Revenue growth expected to continue in the first quarter and throughout 2022 Strong balance sheet with $89 million cash supporting future profitable growth NEW YORK and TORONTO and HERZLIYA, Israel, April 05, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company") is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2021. References herein to "preliminary results" refer to the preliminary results published by the Company on February 8, 2022. All
Fourth quarter 2021 Revenue and Adjusted EBITDA2 of $33 million and $9 million, representing an increase of almost 200% and 140% YoY, respectively Record fiscal year 2021 revenue and Adjusted EBITDA2 of $89 million and $23 million, representing an increase of over 230% and of almost 250% YoY, respectively Estimated net income of $5 million for 2021 Strong balance sheet with $89 million cash Six consecutive quarters with positive cash flow from operations Revenue growth expected to continue in the first quarter and throughout 2022 NEW YORK, TORONTO, and HERZLIYA, Israel, April 04, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc) ("InterCure
Will release financial results for the fourth quarter of 2021 before market open on Monday, April 4, 2022 Webcast scheduled for same day at 8:30am ET NEW YORK, TORONTO, and HERZLIYA, Israel, April 03, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc)("InterCure" or the "Company") today announced that the Company will release financial results for its fourth quarter fiscal 2021 ended December 31, 2021 before financial markets open on April 4, 2022. InterCure executives will host a live conference call and audio webcast to discuss these results at 8:30 am Eastern Time, details of which are provided below. To access the conference call, United St
NEW YORK, TORONTO, and HERZLIYA, Israel, March 30, 2022 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ:INCR) (TSX:INCR) (TASE: INCR) (dba Canndoc) ("InterCure" or the "Company") today announced that it plans to release financial results for the fourth quarter of 2021 after market close on Thursday, March 31, 2022. The Company will conduct a webcast on Monday, April 4, 2022 at 8:30 a.m. (Eastern Time) to review the results as well as provide an overview of the Company's recent milestones and growth strategy. To access the conference call, United States participants please dial (844) 310-5056, or for international callers, 1-706-679-4749. Conference ID: 5661207. Participants can access the liv