Revenue growth and cash flow improvement are positive, but the extended Nir Oz recovery timeline and Bazelet restructuring create uncertainty. Monitor progress on war compensation claims and Botanico acquisition closing for near-term catalysts. The CEO's insider buying and new activist shareholder suggest confidence in recovery trajectory.
Price Chart
Executive Summary
InterCure reported FY2025 revenue of NIS 270M (+13% YoY), a net loss of NIS 37M (improved from NIS 73M loss in 2024), and Adjusted EBITDA of NIS 47M (+90% YoY). The company generated positive operating cash flow of NIS 17M and resumed production at its Nir Oz facility, but the recovery timeline has extended and the company faces ongoing risks from war-related damages and Bazelet restructuring proceedings.
Key Facts
- FY2025 revenue of NIS 270M, up 13% YoY from NIS 239M
- Net loss of NIS 37M, improved from NIS 73M loss in 2024
- Adjusted EBITDA of NIS 47M, up 90% from NIS 24M in 2024
- Positive operating cash flow of NIS 17M vs negative NIS 67M in 2024
- Resumed production at Nir Oz facility, but recovery timeline extended
- Received NIS 82M in war compensation advances against NIS 251M claim
- CEO acquired over 500,000 shares; new 7% shareholder Yaron Jacobi
- Entered agreement to acquire Botanico Ltd (ISHI) with expected revenues of NIS 30M in H2 2026
- Acquired 28% stake in Cannasoul R&D with path to 51%
- Cash on hand NIS 49M as of Dec 31, 2025, down from NIS 77M
Financial Impact
Revenue growth of 13% YoY to NIS 270M; Adjusted EBITDA nearly doubled to NIS 47M; net loss halved to NIS 37M
Risk Factors
- Extended recovery timeline for Nir Oz facility beyond original plan
- Bazelet restructuring proceedings and related legal developments
- Dependence on war compensation from Israeli authorities (NIS 251M claim, only NIS 82M received)
- Cash burn from NIS 77M to NIS 49M despite positive operating cash flow
- Pending Botanico acquisition may not close or deliver expected revenues
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3285596 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 9w ago | 6-K | $5.48 $5.39 | ▼ −1.64% | ▼ −2.96% | $4.27 (−22.08%) |
Aug 4, 2026 12w ago | 6-K | $4.82 $5.51 | ▲ +14.43% | ▲ +15.67% | $4.27 (−11.32%) |
Jun 15, 2026 19w ago | 6-K | $0.9550 $0.9545 | ▼ −0.05% | ▼ −0.05% | $4.27 (+347.12%) |
Apr 30, 2026 25w ago | Press Release | $0.8880 $1.07 | ▲ +20.50% | ▲ +15.21% | $4.27 (+380.86%) |
Apr 30, 2026 25w ago | 20-F | $0.8880 $1.07 | ▼ −20.50% | ▼ −15.23% | $4.27 (−380.86%) |
US Market Status
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