Record Preliminary Third Quarter Revenue of CAD$24 million Achieved a number of firsts and records including:
Seventh consecutive quarter of double-digit revenue growth
Seventh consecutive quarter of high digit accelerated profitable growth
Record quarterly EBITDA
Commenced trading on NASDAQ in September
CEO purchased over CAD$3.7 million worth of shares on the open market
NEW YORK and TORONTO and HERZLIYA, Israel, Oct. 25, 2021 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) (TASE: INCR) (dba Canndoc)("InterCure" or the “Company”) today announced preliminary unaudited revenue of CAD$24 million (NIS 61 million) for the third quarter of 2021, representing another record quarter of high sequential and year-over-year revenue growth. All amounts are expressed in Canadian dollars ($) or New Israeli Shekels (NIS), unless otherwise noted.
Preliminary Third Quarter 2021 and Recent Highlights
- Record revenue expected to be an estimated CAD$24 million (NIS 61 million), 3 times greater than Q3 2020 and up more than 36% compared to prior quarter sequentially;
- Increased market share due to solid demand for Canndoc's branded products and expansion of InterCure's retail footprint;
- Further increases in EBITDA during the third quarter;
- Over $78 million in cash (more than NIS 200 million) as of September 30, 2021;
- Commenced trading on NASDAQ in September under the symbol INCR; and
- InterCure's CEO purchased over 420,000 shares of the Company’s stock on the open market, valued at over $3.7 million.
The Company plans to file its full financial results for the third quarter of 2021 on Monday, November 15, 2021.
https://www.globenewswire.com/news-release/2021/10/25/2319491/0/en/InterCure-Announces-Record-Preliminary-Third-Quarter-Revenue-of-CAD-24-million-3-Times-YOY-and-36-QOQ-Growth.html