INCR - Canndoc Reports Record Revenue Amid Cannabis Market Turmoil | Benzinga
InterCure Ltd. (NASDAQ: INCR) (TASE: INCR), which is doing business as Canndoc, reported its financial and operating results on Thursday for the three and six months ended June 30, 2023,
"The first half of 2023 is another solid performance for InterCure, with year-over-year revenue growing 14% and an adjusted EBITDA margin of 14%," InterCure CEO Alexander Rabinovitch said. "I am proud of our team's ability to execute despite some challenging market conditions when big players are exiting the space."
1H 2023 Financial Highlights
- Revenue totaled CA$75 million ($55.4 million), representing a year-over-year growth of 14%.
- Gross profit was CA$24 million or 33% of revenue, compared to CA$ 29.5 million in the prior year's period or 42% of the revenue.
- Operating profit was CA$4.2 million, down from CA$13.5 million in the same period of 2022.
- Adjusted EBITDA came in ...