InterCure reports NIS 265 million revenue for 2025

InterCure Ltd. (NASDAQ: INCR) announced preliminary revenue of NIS 265 million for 2025, representing an 11% increase compared to 2024. The cannabis company reported positive adjusted EBITDA for both halves of 2025, marking its twelfth consecutive half-year of positive adjusted EBITDA.

Revenue for the second half of 2025 reached approximately NIS 135 million, nearly 20% higher than the corresponding period in 2024. The company generated its first significant revenues from the German market during the second half of the year.

InterCure held NIS 43 million in cash as of December 31, 2025. The company resumed production, importation and sales from its Nir Oz facility, delivering first batches since the October 7, 2023 attack.

The company launched more than 70 new GMP SKUs during 2025 and expanded partnerships through agreements with cannabis operators Purplefarm, FN Canna and Koots Canna. InterCure received NIS 81 million in compensation advances from Israeli authorities for war-related damages, part of a total submitted claim of NIS 251 million.

In September 2025, InterCure entered a share purchase agreement to acquire Botanico Ltd., with expected revenues of over NIS 30 million during the second half of 2026 upon transaction closing. The company also acquired a 28% ownership stake in Cannasoul R&D Ltd. in November 2025, with an exclusive path to increase holdings to 51% within two years.

"2025 marked a year of disciplined execution and renewed growth for InterCure," said CEO Alexander Rabinovich. "We delivered meaningful acceleration in the second half of the year with nearly 20% revenue growth."

The company plans to file its Annual Report on Form 20-F by the end of April 2026.

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