Top Seller Of Pharmaceutical Cannabis Outside US Grew By Double-Digits, Focuses On Germany
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 30 2024
0mins
Source: Benzinga
Financial Performance: InterCure Ltd. reported a revenue of NIS 126 million ($34.58 million) for the first half of 2024, down from NIS 147 million in the second half of 2023, largely impacted by damages from the October 7th terror attack on its facility. The company also experienced a total loss of NIS 6,000 compared to a profit of NIS 3.8 million in the same period last year.
Strategic Expansion: The company is expanding its partnership with Cookies into the German market and plans to launch over 30 new GMP SKUs in the second half of 2024, aiming for double-digit growth. InterCure continues to enhance its medical cannabis pharmacy chain, now totaling 24 locations, while expecting compensation from authorities for damages incurred.
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Analyst Views on OGI
Wall Street analysts forecast OGI stock price to rise
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2 Buy
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Moderate Buy
Current: 1.130
Low
2.36
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2.64
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2.91
Current: 1.130
Low
2.36
Averages
2.64
High
2.91
About OGI
Organigram Global Inc. is focused on producing cannabis for adult recreational consumers, as well as developing international business partnerships. It has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O' Buds, SHRED, SHRED'ems, Monjour, Tremblant Cannabis, Trailblazer, BOXHOT, Collective Project, Fetch and DEBUNK. It operates facilities in Moncton, New Brunswick and LacSuperieur, Quebec, with an edibles manufacturing facility in Winnipeg, Manitoba. It operates two additional cannabis processing facilities in Southwestern Ontario: one in Aylmer and the other in London. The facility in Aylmer houses CO2 and Hydrocarbon extraction capabilities, and is optimized for formulation refinement, post-processing of minor cannabinoids, and pre-roll production. The facility in London is optimized for labeling, packaging, and national fulfillment. Its subsidiaries include Organigram Inc. and Motif Labs Ltd.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Adjusted EBITDA Plummets: Adjusted EBITDA fell to $0.9 million, an 82% decrease compared to $4.9 million in Q2 Fiscal 2025, highlighting significant challenges in cost management and profitability.
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See More
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- Product Diversification Strategy: Herbal Dispatch is actively expanding its gummies and edibles offerings domestically under the Chomp brand, responding to strong consumer demand across both medical and recreational channels, highlighting the company's focus on convenient, dose-controlled formats to drive long-term growth.
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See More
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- Future Earnings Potential: The acquisition agreement includes earnout provisions of up to €113.8 million based on Sanity Group's financial performance over the next 12 months, reflecting Organigram's confidence in its long-term growth potential.
- New Board Member: Following the acquisition, Max Konrad Narr was appointed to Organigram's board of directors, expected to provide crucial support for the company's strategic decision-making and market integration.
See More
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- Strategic Integration Benefits: The acquisition will provide Organigram with a vertically integrated European hub, enhancing its commercial, operational, medical, and regulatory expertise across the value chain, facilitating future market expansion.
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