Cannabinoid Leader Innocan Pharma's Q3: 174% YoY Revenue Growth

Innocan Pharma Corporation (OTC:INNPF), an Israel-based cannabinoids-focused pharmaceutical company, reported a 174% year-over-year revenue growth, reaching $24 million for the first nine months of 2024. Quarterly revenues rose 111% YoY to $8.6 million, driven by robust sales from its subsidiary, BI Sky Global Ltd.

Q3 2024 Financial Highlights

• Revenue was $8.6 million for the third quarter, up 111% year-over-year, and $24 million for the nine-month period, up 174% year-over-year.
• Net income was $0.3 million, an increase of $2.1 million compared to a net loss of $1.8 million in Q3 2023.
• Adjusted EBITDA was not stated in the press release.
• Gross profit was $7.8 million for the third quarter, up 112% year-over-year.

Gross profit surged ...

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