The following is a summary of the IM Cannabis Corp. (IMCC) Q3 2024 Earnings Call Transcript:

Financial Performance:

• IM Cannabis reported a revenue increase of 12.2% in Q3 2024 compared to Q3 2023, mainly driven by a 278% increase in German revenue.

• Operating expenses decreased by 16% compared to Q3 2023, resulting in an operating expenses ratio of 30% in Q3 2024 versus 40% in Q3 2023.

• The gross profit for Q3 2024 increased to $3.1 million, up 19% over Q3 2023.

Business Progress:

• Focus on building a solid foundation for accelerated growth in Germany in 2025 with full integration of German and Israeli teams for efficient resource usage.

• Introduction of three Israeli-grown cannabis strains in Germany representing successful supply chain integration.

Opportunities:

• Market expansion: Growth driven by partial legalization in Germany and increasing number of patients using cannabis-based treatments.

• Product Innovation: Launch of three new cannabis strains in Germany represents product innovation aligned with market needs.

• Operational Efficiency: Enhanced operating efficiency through team integration and resource optimization.

Risks:

• External factors like the ongoing war impacting Israeli operations, leading to supply chain delays and affecting medical cannabis license renewals.

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