Canndoc Archives - Green Market Report

StaffFebruary 14, 2023


The Daily Hit is a recap of the top financial news stories for February 14, 2023.

On the Site

Cannabis Consumers in the Mood for Love

Cannabis consumers love to celebrate Valentine’s Day. Wholesale cannabis platform Leaflink reported an enormous increase in sales in the weeks leading up to the celebration of romance for products labeled with themed words. Read more here.

InterCure Sues Better Over Funds Deployed During Failed Merger

InterCure Ltd. (Nasdaq: INCR), also known as Canndoc, filed a lawsuit against Cann Pharmaceuticals Ltd., also known as Better, to recover some of the money that was loaned to and invested in the company when the two contemplated a merger. Read more here.

Massachusetts Extends COVID-Related Changes for Cannabis Companies

Massachusetts cannabis regulators this week announced the extension of several policy changes put in place during the early days of the COVID-19 pandemic, to give medical marijuana businesses in particular more flexibility in serving patients. Read more here.

In Other News

Juniper Restaurant

Juniper Restaurant doesn’t even have a home yet, but months before it opens its doors to customers in Minneapolis, buzz around its vegan menu is already heating up – thanks to a THC twist. In accordance with a state law passed last year, a syrup will be served that contains a single, 5 milliliter serving of hemp-derived THC. Read more here.


More Minnesota House and Senate committees have approved companion bills to legalize marijuana, moving them closer to the floor after weeks of legislative action. The House Human Services Policy Committee passed the legislation from Rep. Zack Stephenson (D) in a voice vote on Monday, marking the eighth panel in the chamber to clear the measure. Read more here.

Adam JacksonAugust 16, 2022


InterCure Ltd. (NASDAQ: INCR) (TSX: INCR.U) posted positive results despite barely missing revenue expectations, as the company looks to further its international reach and shore up it’s new-found partnerships.

The Israeli-based cannabis company — also known as Canndoc — reported its financial report card for the second quarter ending June 30, 2022.

InterCure reported approximately $37 million in revenue during the period, more than double versus the same period last year; and a gain of 9% sequentially — though missing the Yahoo Finance Average analyst estimate for revenues of $39 million.

The company also reported a second-quarter net income of $6 million, remaining flat sequentially; and a net income of $2 million in the same period last year. The earnings were a gain of $0.34 cents per share — above analyst expectation — versus a gain of $0.12 cents per share in the previous quarter, according to SEDAR filings.

“We are proud to deliver our tenth consecutive quarter of profitable growth, solidifying our operational excellency and leading position,” said CEO Alexander Rabinovitch. “We remain focused on developing and launching the highest quality pharmaceutical grade medical cannabis products as our target markets are evolving at a rapid pace. During the second quarter we have successfully ramped up our upstream and downstream operations and executed our global expansion to meet the solid demand for our high-quality branded products.”

InterCure said that it’s the tenth consecutive quarter of high growth representing an annualized run rate of $150 million. Adjusted EBITDA rose 90% year-over-year to $9 million, representing 23% of revenues and 4% sequential growth. Gross profit soared over 115% year-over-year and 16% sequentially to over $16 million.

InterCure also reported that it was the eighth consecutive quarter of positive cash flow from operations — with the company adding that it had $96 million cash on hand.

The company expects continued boosts in revenues during the third quarter of 2022 and throughout the year — especially as it bolster it’s operations at home and its springing European cannabis pharmacies in Austria and the U.K.; as well as breaking into the Australian medical cannabis market.

“Our teams delivered another strong quarter across all sectors, focusing on execution of our profitable growth strategy and fiscal discipline,” CFO Amos Cohen said. “With a strong balance sheet and over $96 million cash on hand, we are well positioned ahead of the consolidation process.”

We expect this growth to continue, while we remain focused and committed to expand our unique platform, building shareholder value and improving quality of life for patient communities,” said Rabinovitch.

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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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