Estimated revenue reaches CAD$39 million1 (a record of over NIS 100 million):
Eleventh consecutive quarter of profitable growth with revenue growth expected to continue in Q4 2022
NEW YORK and TORONTO and HERZLIYA, Israel, Nov. 11, 2022 (GLOBE NEWSWIRE) — InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) (“InterCure” or the “Company”) today announced record preliminary financial results for the Third quarter of 2022. All amounts are expressed in Canadian dollars ($) or New Israeli Shekels (NIS), unless otherwise noted.
Preliminary Third Quarter 2022 Financial Highlights and Milestones
- Record revenue estimated to be $CAD 39 million (Over NIS 100 million), 63% over the revenues of the third quarter of 2021 and sequential growth of over 6%.
- Eleventh consecutive quarter of growth representing an annualized run rate of over $CAD 155 million (Over NIS 400 million).
- Revenue growth expected to continue in Q4 2022.
- Solid demand for Canndoc’s branded products and expansion of the Company’s medical cannabis dispensing operations.
- Continued expansion of the company’s branded products portfolio, launching more than 10 new GMP SKUs during the quarter.
- First company to comply with the new 109 IMCA import regulations2.
- Continued expansion of the Company’s medical cannabis dedicated pharmacy chain to a of total 25 locations as of the end of the third quarter.
- Continued execution of the company’s global expansion plan.
The Company plans to file its full financial results for the third quarter on Tuesday, November 15th , 2022.
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