INCR - InterCure reports 29% sequential growth in revenue: Q4 Results

InterCure (NASDAQ:INCR) reported Monday operating results for the fourth quarter with revenue of C$33M (NIS 80M), representing three times greater revenue Y/Y and 29% of sequential growth. Adjusted EBITDA is C$9M (NIS 21M), up 140% Y/Y; Adjusted EBITDA margin was 26%. Net income of C$1M (NIS 3M) "We achieved another significant milestone of almost 230% year-over-year growth in revenues with 250% growth in adjusted EBITDA, with one of the strongest balance sheets in the sector. In addition, we increased our number one market share in the leading medical cannabis market outside North America," said InterCure CEO Alexander Rabinovitch. Cash at year end of C$89M (NIS 217M). The company told it now represents about 30% market share of Israel’s medical cannabis with solid demand for Canndoc's branded products and expansion of its dispensing operations. Feb. 16, InterCure signed a deal to acquire Cann Pharmaceutical, a Israeli medical cannabis multi-national operator known as "Better". Forward Looking Statement: "Looking towards 2022,

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InterCure reports 29% sequential growth in revenue: Q4 Results