The Company reports NIS 130 million in revenue and NIS 12 million in positive operating cash flow, demonstrating resilience and sustained profitability with its eleventh consecutive half of positive Adjusted EBITDA amidst ongoing recovery in Israel
InterCure is encouraged by recent regulatory momentum in the U.S. and believes that it is well positioned to capitalize on evolving U.S. cannabis rescheduling, especially following its recent signing of an agreement to acquire ISHI
NEW YORK and HERZLIYA, Oct. 08, 2025 (GLOBE NEWSWIRE) -- InterCure Ltd. $(INCR)$ (TASE: INCR) ("InterCure" or the "Company"), today announced its financial and operating results for the first half of 2025.
Alexander Rabinovitch, CEO of InterCure, stated: "In the first half of 2025, InterCure delivered revenues of NIS 130 million, achieving positive Adjusted EBITDA for the eleventh consecutive half year period and generating NIS 12 million in positive operating cash flow. This performance underscores the strength of our vertically integrated business model and our ability to navigate a challenging environment, including the impact of the October 7 attack and the ongoing war in Gaza. We continue to work closely with Israeli authorities to secure full compensation for damages to our southern facility.
Looking ahead, we are confident in our ability to continue our recovery growth trajectory, expanding our international footprint, and strengthen our leadership in the pharmaceutical cannabis industry, particularly with the strategic acquisition of ISHI, which positions us to capitalize on evolving opportunities in the global cannabis market. At the same time, we are closely monitoring regulatory developments in the U.S. regarding potential rescheduling of cannabis."
First Half 2025 Financial Highlights
(All amounts are expressed in New Israeli Shekels (NIS), unless otherwise noted)
-- Revenue of NIS 130 million, an increase of 15% compared to the second
half of 2024, and an increase of 3% compared to NIS 126 million in the
first half of 2024.
-- Net loss of NIS 1.8 million, compared to near break-even in the first
half of 2024.
-- Adjusted EBITDA of NIS 12.6 million, representing 10% of revenue, marking
the Company's eleventh consecutive half of positive Adjusted EBITDA.1
-- Positive cash flow from operations of NIS 12 million, compared to
negative cash flow of NIS 43 million in the same period last year.
-- Cash on hand of NIS 54 million as of June 30, 2025, compared to NIS 21
million as of June 30, 2024.2
-- Shareholders' equity of NIS 432 million as of June 30, 2025.
Operational and Strategic Highlights
-- As the recovery process progresses, the Company resumed production,
importation and sales from the Nir Oz facility, delivering first batches
since the October 7, 2023 attack and the ongoing war in Gaza.
-- Launched more than 40 new SKUs during the first half of 2025, marking the
first major product launches since October 2023.
-- Received NIS 81 million in compensation advances from Israeli authorities
for war-related damages, as part of a total submitted damages3 of NIS 251
million.
-- Continued expansion of Canndoc's medical cannabis pharmacy chain and
growing global demand for InterCure's pharmaceutical-grade cannabis
products.
-- In September 2025, the Company entered into a share purchase agreement to
acquire Botanico Ltd. $(ISHI)$, a strategic acquisition expected to
strengthen InterCure's access to premium U.S. genetics, advanced
cultivation technologies, and international market opportunities.
-- The Company is closely monitoring regulatory developments in the U.S.
regarding potential rescheduling of cannabis and believes that it is well
positioned to capitalize on evolving U.S. cannabis landscape, especially
following its recent signing of an agreement to acquire ISHI.
-- The Company is closely monitoring regulatory developments in the U.S.
regarding potential rescheduling of cannabis and believes that it is well
positioned to capitalize on evolving U.S. cannabis landscape, especially
following its recent signing of an agreement to acquire ISHI.
-- Under the purchase agreement with respect to ISHI, the Company obtained
exclusive supply of premium products under The Flowery$(TM)$ and leading
American brands, which are expected to contribute tens of millions of
shekels to the Company's revenues.
About InterCure (dba Canndoc)
InterCure (dba Canndoc) (NASDAQ: INCR) (TASE: INCR) is the leading, profitable, and fastest growing cannabis company outside of North America. Canndoc, a wholly owned subsidiary of InterCure, is Israel's largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated "seed-to-sale" model to lead the fastest growing cannabis global market outside of North America.
For more information, visit: https://www.intercure.co
Non-IFRS Measures
This press release makes reference to certain non-IFRS financial measures. Adjusted EBITDA, as defined by InterCure, means earnings before interest, income taxes, depreciation, and amortization, adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other income, net which included war-related damage compensation from the tax authorities, changes to allowance for credit risk, and impairment of inventory. This measure is not a recognized measure under IFRS, does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. InterCure's method of calculating this measure may differ from methods used by other entities and accordingly, this measure may not be comparable to similarly titled measures used by other entities or in other jurisdictions. InterCure uses this measure because it believes it provides useful information to both management and investors with respect to the operating and financial performance of the Company.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may include, but are not limited to, the Company's expected growth, including in Adjusted EBITDA, success of its global expansion plans, its expansion strategy to major markets worldwide, expected receipt of additional compensation from the Israeli government, and the expected completion of the acquisition of ISHI, as well as statements, other than historical facts, that address activities, events or developments that InterCure intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as "believes," "hopes," "may," "anticipates," "should," "intends," "plans," "will," "expects," "estimates," "projects," "positioned," "strategy" and similar expressions and are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause InterCure's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company's success in executing its global expansion plans (including the pending acquisition of Botanico Ltd. (ISHI)), its continued growth, expected operations and financial results, business strategy, competitive strengths, goals and expansion into major markets worldwide, the impact of the war in Israel and the war in Ukraine, and the conditions of the markets generally. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond InterCure's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U.S. regulatory landscape and enforcement related to cannabis, changes in public opinion and perception of the cannabis industry, and reliance on the expertise and judgment of our senior management. More detailed information about the risks and uncertainties affecting us is contained under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 20-F, as well as in the Company's Form 6-K containing the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, and in other filings that we have made and may make with the Securities and Exchange Commission in the future.
Company Contact:
InterCure Ltd.
Amos Cohen, Chief Financial Officer
amos@intercure.co
Investor Relations Contact:
Arx Investor Relations
North American & Israeli Equities Desks
intercure@arxhq.com
Condensed Consolidated Interim Statements of Financial Position (Unaudited)
As of June 30, 2025
As of June 30
--------------------
NIS in thousands
--------------------
2025 2024
--------- --------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents 51,334 19,899
Restricted cash and deposits 2,436 948
Trade receivables, net 46,931 61,672
Other receivables 119,604 158,045
Inventory 148,174 126,466
Biological assets 5,269 3,388
Financial assets measured at fair value through
profit or loss 250 399
-------- --------
Total current assets 373,998 370,817
NON-CURRENT ASSETS:
Other receivables 5,824 439
Property, plant and equipment and right-of-use
asset 105,046 98,611
Goodwill 224,778 223,609
Deferred tax assets 39,970 27,042
Financial assets measured at fair value through
profit or loss 2,147 1,922
Investment in associate and loan - 18,447
-------- --------
Total non-current assets 377,765 370,070
TOTAL ASSETS 751,763 740,887
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Short term loan and current maturities 62,767 81,755
Trade payables 90,785 83,071
Other payables 44,454 39,965
Contingent consideration 3,966 4,082
-------- --------
Total current liabilities 201,972 208,873
LONG-TERM LIABILITIES:
Long term loans 94,917 51,317
Liabilities in respect of employee benefits 973 841
Lease liability 21,657 17,741
-------- --------
Total long-term liabilities 117,547 69,899
EQUITY:
Share capital, premium and other reserves 675,393 649,013
Capital reserve for transactions with
controlling shareholder 2,388 2,388
Receipts on account of shares 19,591 -
Capital reserve for transactions with
non-controlling interests 13,561 13,561
Accumulated losses (279,786) (204,518
-------- --------
Equity attributable to owners of the Company 431,147 460,444
Non-controlling interests 1,097 1,671
-------- --------
TOTAL EQUITY 432,244 462,115
TOTAL LIABILITIES AND EQUITY 751,763 740,887
Condensed Consolidated Interim Statements of Profit or Loss and Other Comprehensive Income (Unaudited)
For the 6-months Year ended
ended on June 30 December 31
---------------------- ------------
NIS in thousands
-------------------------------------
2025 2024 2024
--------- ------- ------------
Revenue 130,011 125,733 238,845
Cost of revenue before
fair value adjustments 91,449 85,291 203,252
-------- ------- ------------
Gross income before impact
of changes in fair value 38,562 40,442 35,593
-------- ------- ------------
Unrealized changes to fair
value adjustments of
biological assets 1,661 1,218 6,458
Loss from fair value
changes realized in the
current year 2,005 1,029 11,818
-------- ------- ------------
Gross Profit 38,218 40,631 30,233
Research and development
expenses 191 219 414
General and administrative
expenses 14,302 18,374 53,669
Sales and marketing
expenses 26,115 27,454 54,225
Other expenses, net (9,074) (16,414) (12,807
Changes in the fair value
of financial assets
through profit or loss,
net. 83 (201) (341
Share based payments 885 686 2,281
-------- ------- ------------
Operating Profit 5,716 10,513 (67,208
-------- ------- ------------
Financing income 2,356 1,031 2,747
Financing expenses 10,369 10,070 22,862
-------- ------- ------------
Financing expenses
(income), net 8,013 9,039 20,115
-------- ------- ------------
Profit before tax on
income (2,297) 1,474 (87,323
-------- ------- ------------
Tax (expense) benefit 485 (1,480) 14,530
Total comprehensive Profit
(loss) (1,812) (6) (72,793
======== ======= ============
Profit (loss)
attributable to:
Owners of the Company (1,704) 1,433 (67,795
Non-controlling interests (108) (1,439) (4,998
-------- ------- ------------
Total (1,812) (6) (72,793
-------- ------- ------------
Earnings per share
Basic earnings (loss) (0.03) 0.03 (1.48
-------- ------- ------------
Diluted earnings (loss) (0.03) 0.03 (1.48
-------- ------- ------------
Non-IFRS Financial Measures
Total comprehensive Profit
(loss) (1,812) (6) (72,793)
Interest / Financing expense
(income) net 8,013 9,039 20,115
Tax expenses (benefit) (485) 1,480 (14,530)
Depreciation and amortization 8,451 6,337 15,371
------ ------- -------
EBITDA 14,167 16,850 (51,837)
Share-based payment expenses 885 686 2,281
Other income, net (9,074) (16,414) (12,807)
War-related damage compensation
from the tax authorities 9,019 16,830 42,468
Changes to allowance for credit
risk (2,844) 16,878
Impairment of inventory - - 15,960
Changes in the fair value of
financial assets through
profit or loss, net 83 (201) (341)
Fair value adjustment to
inventory 344 (189) 5,360
------ ------- -------
Adjusted EBITDA 12,580 17,562 17,962
For More Financial Information:
For a comprehensive understanding of the Company's financial reports and related management's discussion and analysis for applicable periods, please review the Company's annual report on Form 20-F for the fiscal year ended December 31, 2024, and the Company's Form 6-K containing the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, both available on the Company's EDGAR profile at https://www.sec.gov/edgar
(1) Adjusted EBITDA means net income (loss) before interest, taxes, depreciation and amortization adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other expenses (or income). Other income, net includes war-related damage compensation from the tax authorities, changes to allowance for credit risk and impairment of inventory.
(2) Including restricted cash and deposits.
(3) The claim is not final and remains subject to adjustment. The total amount claimed may be increased as further information becomes available.
(END) Dow Jones Newswires
The Company reports NIS 130 million in revenue and NIS 12 million in positive operating cash flow, demonstrating resilience and sustained profitability with its eleventh consecutive half of positive Adjusted EBITDA amidst ongoing recovery in Israel
InterCure is encouraged by recent regulatory momentum in the U.S. and believes that it is well positioned to capitalize on evolving U.S. cannabis rescheduling, especially following its recent signing of an agreement to acquire ISHI
NEW YORK and HERZLIYA, Oct. 08, 2025 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ: INCR) (TASE: INCR) ("InterCure" or the "Company"), today announced its financial and operating results for the first half of 2025.
Alexander Rabinovitch, CEO of InterCure, stated: "In the first half of 2025, InterCure delivered revenues of NIS 130 million, achieving positive Adjusted EBITDA for the eleventh consecutive half year period and generating NIS 12 million in positive operating cash flow. This performance underscores the strength of our vertically integrated business model and our ability to navigate a challenging environment, including the impact of the October 7 attack and the ongoing war in Gaza. We continue to work closely with Israeli authorities to secure full compensation for damages to our southern facility.
Looking ahead, we are confident in our ability to continue our recovery growth trajectory, expanding our international footprint, and strengthen our leadership in the pharmaceutical cannabis industry, particularly with the strategic acquisition of ISHI, which positions us to capitalize on evolving opportunities in the global cannabis market. At the same time, we are closely monitoring regulatory developments in the U.S. regarding potential rescheduling of cannabis."
First Half 2025 Financial Highlights
(All amounts are expressed in New Israeli Shekels (NIS), unless otherwise noted)
-- Revenue of NIS 130 million, an increase of 15% compared to the second
half of 2024, and an increase of 3% compared to NIS 126 million in the
first half of 2024.
-- Net loss of NIS 1.8 million, compared to near break-even in the first
half of 2024.
-- Adjusted EBITDA of NIS 12.6 million, representing 10% of revenue, marking
the Company's eleventh consecutive half of positive Adjusted EBITDA.1
-- Positive cash flow from operations of NIS 12 million, compared to
negative cash flow of NIS 43 million in the same period last year.
-- Cash on hand of NIS 54 million as of June 30, 2025, compared to NIS 21
million as of June 30, 2024.2
-- Shareholders' equity of NIS 432 million as of June 30, 2025.
Operational and Strategic Highlights
-- As the recovery process progresses, the Company resumed production,
importation and sales from the Nir Oz facility, delivering first batches
since the October 7, 2023 attack and the ongoing war in Gaza.
-- Launched more than 40 new SKUs during the first half of 2025, marking the
first major product launches since October 2023.
-- Received NIS 81 million in compensation advances from Israeli authorities
for war-related damages, as part of a total submitted damages3 of NIS 251
million.
-- Continued expansion of Canndoc's medical cannabis pharmacy chain and
growing global demand for InterCure's pharmaceutical-grade cannabis
products.
-- In September 2025, the Company entered into a share purchase agreement to
acquire Botanico Ltd. (ISHI), a strategic acquisition expected to
strengthen InterCure's access to premium U.S. genetics, advanced
cultivation technologies, and international market opportunities.
-- The Company is closely monitoring regulatory developments in the U.S.
regarding potential rescheduling of cannabis and believes that it is well
positioned to capitalize on evolving U.S. cannabis landscape, especially
following its recent signing of an agreement to acquire ISHI.
-- Under the purchase agreement with respect to ISHI, the Company obtained
exclusive supply of premium products under The Flowery(TM) and leading
American brands, which are expected to contribute tens of millions of
shekels to the Company's revenues.
About InterCure (dba Canndoc)
InterCure (dba Canndoc) (NASDAQ: INCR) (TASE: INCR) is the leading, profitable, and fastest growing cannabis company outside of North America. Canndoc, a wholly owned subsidiary of InterCure, is Israel's largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated "seed-to-sale" model to lead the fastest growing cannabis global market outside of North America.
For more information, visit: https://www.intercure.co
Non-IFRS Measures
This press release makes reference to certain non-IFRS financial measures. Adjusted EBITDA, as defined by InterCure, means earnings before interest, income taxes, depreciation, and amortization, adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other income, net which included war-related damage compensation from the tax authorities, changes to allowance for credit risk, and impairment of inventory. This measure is not a recognized measure under IFRS, does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. InterCure's method of calculating this measure may differ from methods used by other entities and accordingly, this measure may not be comparable to similarly titled measures used by other entities or in other jurisdictions. InterCure uses this measure because it believes it provides useful information to both management and investors with respect to the operating and financial performance of the Company.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may include, but are not limited to, the Company's expected growth, including in Adjusted EBITDA, success of its global expansion plans, its expansion strategy to major markets worldwide, expected receipt of additional compensation from the Israeli government, and the expected completion of the acquisition of ISHI, as well as statements, other than historical facts, that address activities, events or developments that InterCure intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as "believes," "hopes," "may," "anticipates," "should," "intends," "plans," "will," "expects," "estimates," "projects," "positioned," "strategy" and similar expressions and are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause InterCure's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company's success in executing its global expansion plans (including the pending acquisition of Botanico Ltd. (ISHI)), its continued growth, expected operations and financial results, business strategy, competitive strengths, goals and expansion into major markets worldwide, the impact of the war in Israel and the war in Ukraine, and the conditions of the markets generally. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond InterCure's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U.S. regulatory landscape and enforcement related to cannabis, changes in public opinion and perception of the cannabis industry, and reliance on the expertise and judgment of our senior management. More detailed information about the risks and uncertainties affecting us is contained under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 20-F, as well as in the Company's Form 6-K containing the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, and in other filings that we have made and may make with the Securities and Exchange Commission in the future.
Company Contact:
InterCure Ltd.
Amos Cohen, Chief Financial Officer
amos@intercure.co
Investor Relations Contact:
Arx Investor Relations
North American & Israeli Equities Desks
intercure@arxhq.com
Condensed Consolidated Interim Statements of Financial Position (Unaudited)
As of June 30, 2025
As of June 30
--------------------
NIS in thousands
--------------------
2025 2024
--------- --------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents 51,334 19,899
Restricted cash and deposits 2,436 948
Trade receivables, net 46,931 61,672
Other receivables 119,604 158,045
Inventory 148,174 126,466
Biological assets 5,269 3,388
Financial assets measured at fair value through
profit or loss 250 399
-------- --------
Total current assets 373,998 370,817
NON-CURRENT ASSETS:
Other receivables 5,824 439
Property, plant and equipment and right-of-use
asset 105,046 98,611
Goodwill 224,778 223,609
Deferred tax assets 39,970 27,042
Financial assets measured at fair value through
profit or loss 2,147 1,922
Investment in associate and loan - 18,447
-------- --------
Total non-current assets 377,765 370,070
TOTAL ASSETS 751,763 740,887
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Short term loan and current maturities 62,767 81,755
Trade payables 90,785 83,071
Other payables 44,454 39,965
Contingent consideration 3,966 4,082
-------- --------
Total current liabilities 201,972 208,873
LONG-TERM LIABILITIES:
Long term loans 94,917 51,317
Liabilities in respect of employee benefits 973 841
Lease liability 21,657 17,741
-------- --------
Total long-term liabilities 117,547 69,899
EQUITY:
Share capital, premium and other reserves 675,393 649,013
Capital reserve for transactions with
controlling shareholder 2,388 2,388
Receipts on account of shares 19,591 -
Capital reserve for transactions with
non-controlling interests 13,561 13,561
Accumulated losses (279,786) (204,518
-------- --------
Equity attributable to owners of the Company 431,147 460,444
Non-controlling interests 1,097 1,671
-------- --------
TOTAL EQUITY 432,244 462,115
TOTAL LIABILITIES AND EQUITY 751,763 740,887
Condensed Consolidated Interim Statements of Profit or Loss and Other Comprehensive Income (Unaudited)
For the 6-months Year ended
ended on June 30 December 31
---------------------- ------------
NIS in thousands
-------------------------------------
2025 2024 2024
--------- ------- ------------
Revenue 130,011 125,733 238,845
Cost of revenue before
fair value adjustments 91,449 85,291 203,252
-------- ------- ------------
Gross income before impact
of changes in fair value 38,562 40,442 35,593
-------- ------- ------------
Unrealized changes to fair
value adjustments of
biological assets 1,661 1,218 6,458
Loss from fair value
changes realized in the
current year 2,005 1,029 11,818
-------- ------- ------------
Gross Profit 38,218 40,631 30,233
Research and development
expenses 191 219 414
General and administrative
expenses 14,302 18,374 53,669
Sales and marketing
expenses 26,115 27,454 54,225
Other expenses, net (9,074) (16,414) (12,807
Changes in the fair value
of financial assets
through profit or loss,
net. 83 (201) (341
Share based payments 885 686 2,281
-------- ------- ------------
Operating Profit 5,716 10,513 (67,208
-------- ------- ------------
Financing income 2,356 1,031 2,747
Financing expenses 10,369 10,070 22,862
-------- ------- ------------
Financing expenses
(income), net 8,013 9,039 20,115
-------- ------- ------------
Profit before tax on
income (2,297) 1,474 (87,323
-------- ------- ------------
Tax (expense) benefit 485 (1,480) 14,530
Total comprehensive Profit
(loss) (1,812) (6) (72,793
======== ======= ============
Profit (loss)
attributable to:
Owners of the Company (1,704) 1,433 (67,795
Non-controlling interests (108) (1,439) (4,998
-------- ------- ------------
Total (1,812) (6) (72,793
-------- ------- ------------
Earnings per share
Basic earnings (loss) (0.03) 0.03 (1.48
-------- ------- ------------
Diluted earnings (loss) (0.03) 0.03 (1.48
-------- ------- ------------
Non-IFRS Financial Measures
Total comprehensive Profit
(loss) (1,812) (6) (72,793)
Interest / Financing expense
(income) net 8,013 9,039 20,115
Tax expenses (benefit) (485) 1,480 (14,530)
Depreciation and amortization 8,451 6,337 15,371
------ ------- -------
EBITDA 14,167 16,850 (51,837)
Share-based payment expenses 885 686 2,281
Other income, net (9,074) (16,414) (12,807)
War-related damage compensation
from the tax authorities 9,019 16,830 42,468
Changes to allowance for credit
risk (2,844) 16,878
Impairment of inventory - - 15,960
Changes in the fair value of
financial assets through
profit or loss, net 83 (201) (341)
Fair value adjustment to
inventory 344 (189) 5,360
------ ------- -------
Adjusted EBITDA 12,580 17,562 17,962
For More Financial Information:
For a comprehensive understanding of the Company's financial reports and related management's discussion and analysis for applicable periods, please review the Company's annual report on Form 20-F for the fiscal year ended December 31, 2024, and the Company's Form 6-K containing the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, both available on the Company's EDGAR profile at https://www.sec.gov/edgar
(1) Adjusted EBITDA means net income (loss) before interest, taxes, depreciation and amortization adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other expenses (or income). Other income, net includes war-related damage compensation from the tax authorities, changes to allowance for credit risk and impairment of inventory.
(2) Including restricted cash and deposits.
(3) The claim is not final and remains subject to adjustment. The total amount claimed may be increased as further information becomes available.
A previous version of this release included the same bullet twice. This has been corrected in this version. No other information has changed.
(END) Dow Jones Newswires
October 08, 2025 09:40 ET (13:40 GMT)
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