IM Cannabis (IMCC)2024-11-14 15:43Financial Data and Key Metrics Changes - Revenue for Q3 2024 increased by 12.2% compared to Q3 2023, driven mainly by a 278% increase in German revenue [19][21] - Operating expenses decreased by 16% versus Q3 2023, resulting in an operating expenses ratio of 30% in Q3 2024 compared to 40% in Q3 2023, indicating a 25% increase in efficiency [13][30] - Net loss for Q3 2024 was 2.1 million in Q3 2023 [32] Business Line Data and Key Metrics Changes - Sales in Germany increased by 66% from Q2 to Q3 2024, reaching 6.2 per gram in Q3 2024 [19] Company Strategy and Development Direction - The company is focusing on building a solid foundation for accelerated growth in Germany in 2025, emphasizing the integration of German and Israeli teams [6][11] - A strategic shift to concentrate resources on the German market has proven successful, with plans to enhance supply chain efficiency [10][15] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of a stable supply chain and resource management to sustain growth, particularly in light of challenges in the Israeli market [12][14] - The company aims to continue leveraging its understanding of premium market drivers to maximize profitability in Israel while supporting growth in Germany [16][17] Other Important Information - The company reported a gross profit of 40.4 million as of September 30, 2024, primarily due to the cancellation of the Oranim agreement [35][36] Q&A Session Summary - There were no questions during the Q&A session, indicating a lack of immediate inquiries from participants [38]