InterCure Announces Preliminary Estimated 2025 Revenue of NIS 265 Million, Positive Adjusted EBITDA and Cash¹ of NIS 43 Million

InterCure reports preliminary estimated revenue of NIS 265 million for 2025 and positive Adjusted EBITDA², marking its twelfth consecutive half-year of positive Adjusted EBITDA.

Revenue for 2025 represents an increase of approximately 11% compared to 2024, while revenue for the second half of 2025 is nearly 20% higher than the corresponding period in the prior year.

During the second half of 2025, the Companygenerated its first significant revenues from the German market.

NEW YORK and HERZLIYA, Israel, Feb. 19, 2026 (GLOBE NEWSWIRE) --InterCure Ltd.(Nasdaq: INCR) (TASE: INCR) (“InterCure” or the “Company”) today announced preliminary results for the full year of2025. All amounts are expressed in New Israeli Shekels (NIS), unless otherwise noted.

Preliminary full year2025 Financial Highlights and Milestones

The Company plans to file itsAnnualReport on form 20-F, which will include its full financial results for the year ended December 31,2025 by the end of April,2026.

Alexander Rabinovich, ChiefExecutiveOfficerand ChairmanofInterCure,noted:“2025 marked a year of disciplined execution and renewed growth forInterCure. We deliveredmeaningful acceleration in the second half of the year with nearly 20%revenue growth and achieved our twelfth consecutive half-year of positive Adjusted EBITDA. Theanticipatedcommencement of operations under theBotanico transaction and our strategic collaboration withCannasoulare expected tofurther strengthen our pharmaceutical platform and global positioning.This marks another key milestone with our first significant revenues in the German market, as we expect continued execution of our global expansion strategy in Germany and additional markets throughout 2026. As regulatory frameworks continue to evolve, particularly in the United States and Europe, we believeInterCure is strategically positioned to leverage its vertically integrated model, scientific leadership, and international partnerships to drive long-term value for patients and shareholders.”

AboutInterCure (dbaCanndoc)

InterCure (dbaCanndoc) (Nasdaq: INCR) (TASE: INCR) is the leading, profitable, andone ofthefastest growing cannabiscompaniesoutside of North America.Canndoc, a wholly owned subsidiary ofInterCure, 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 releasemakes reference to certain non-IFRS financial measures. Adjusted EBITDA, as defined byInterCure, 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 inrevenues andAdjusted EBITDA, success of its global expansion plans, its expansion strategy to major markets worldwide,the Company’s ability to leverage its vertically integrated model, scientific leadership, and international partnerships to drive long-term value for patients and shareholders, its ability to benefit from the evolving market in the United States, the potential outcome of theBazelet proceedings,expected receipt of additional compensation from the Israeli government, and the expected completion of the acquisitions ofBotanico Ltd. andCannasoul R&D Ltd. and benefits therefrom, as well as statements, other than historical facts, that address activities, events or developments thatInterCure 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 causeInterCure’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 acquisitions ofBotanico Ltd. (ISHI) andCannasoul R&D Ltd.), 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 ona number of assumptions and is subject to a number of risks and uncertainties, many of which are beyondInterCure’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 uncertaintiesinclude, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U.S. regulatory landscape andenforcement 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 thatthe Company has 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

¹Including restricted cash and deposits.

²Adjusted 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.

³The claim is not final and remains subject to adjustment. The total amount claimed may be increased as further information becomes available.

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