- InterCure (INCR.U) announced record preliminary financial results for Q2 2022
- Record revenue is estimated to be C$36 million, more than double the revenues of Q2 of 2021 and representing sequential growth of over 9 per cent
- During the quarter, the company saw demand for branded products under its Canndoc subsidiary, expansion of its medical cannabis dispensing operations, and the opening of the first flagship Cookies retail location in Austria, located in the centre of Vienna
- The company also expanded its medical cannabis dedicated pharmacy chain with the grand opening of its flagship Cookies branded pharmacy in Be’er Sheva, the largest city in Israel’s southern region
- Intercure Ltd. (INCR.U) was holding steady at C$6.05 per share at 10:00 am ET
InterCure (INCR.U) has announced record preliminary financial results for Q2 2022.
Record revenue is estimated to be C$36 million, more than double the revenues of Q2 of 2021 and representing sequential growth of over 9 per cent.
During the quarter, the company saw demand for branded products under its Canndoc subsidiary, expansion of its medical cannabis dispensing operations, and the opening of the first flagship Cookies retail location in Austria, located in the centre of Vienna.
The company also expanded its medical cannabis dedicated pharmacy chain with the grand opening of its flagship Cookies branded pharmacy in Be’er Sheva, the largest city in Israel’s southern region.
InterCure’s Chief Executive Officer Alexander Rabinovitch credited his team’s solid operating performance in Q2, as the key that led the business to its 10th consecutive quarter of profitable growth, representing an annualized run rate of C$143 million.
“InterCure is focused on developing and launching the world’s leading pharmaceutical grade medical cannabis products in parallel to the global expansion of our production and distribution platform. InterCure’s target markets are evolving at a rapid pace as more and more countries adopt supportive regulations that allow us to operate and implement our leading model.”
The company plans to file its full financial results for Q2 on Monday, August 15, 2022, and expects continued increases in revenues during Q3 2022.
InterCure engages in the research, cultivation, production, and distribution of pharma-grade cannabis-based products. The products are distributed to hospitals, pharmacies, research, and government organizations.
The company leverages its market-leading distribution network, best-in-class international partnerships and a high-margin vertically integrated “seed-to-sale” model to lead the fastest growing cannabis global market outside North America.
InterCure Ltd. (INCR.U) was holding steady at C$6.05 per share at 10:00 am ET.