Canndoc Reports Record Revenue Amid Cannabis Market Turmoil
Portfolio Pulse from Jelena Martinovic
InterCure Ltd. (NASDAQ:INCR), doing business as Canndoc, reported a 14% YoY revenue growth for 1H 2023, totaling CA$75 million ($55.4 million). However, operating profit and adjusted EBITDA were down compared to the same period in 2022. The company is optimistic about new cannabis regulations in Israel and Germany and potential opportunities in the U.S. following a reclassification of cannabis by the DEA. InterCure's shares traded 1.86% higher in the pre-market session on Friday.
September 01, 2023 | 1:48 pm
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InterCure reported a 14% YoY revenue growth for 1H 2023, but operating profit and adjusted EBITDA were down. The company is optimistic about new cannabis regulations and potential opportunities in the U.S. Shares traded 1.86% higher in pre-market.
InterCure's revenue growth and optimism about new cannabis regulations and potential opportunities in the U.S. are positive signs. However, the decrease in operating profit and adjusted EBITDA could be a concern. The stock's pre-market performance indicates a positive short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100