Marimed ( (MRMD) ) has released its Q4 earnings. Here is a breakdown of the information Marimed presented to its investors.
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MariMed Inc., a prominent multi-state cannabis operator, is dedicated to enhancing lives through its high-quality cannabis products and operations. The company has reported its financial results for the fourth quarter and full year of 2024, showcasing record revenues and improved adjusted EBITDA, despite a net loss. Key highlights from the earnings report include a 29% growth in annual wholesale revenue and significant market share gains for its brands, particularly in Massachusetts and Maryland. The company also completed the expansion of 10 revenue-generating assets over the past two years, which is expected to contribute to future growth. Additionally, MariMed has strengthened its presence in Illinois, Missouri, and Maryland, and has consolidated Delaware’s First State Compassion Center, positioning itself for adult-use sales in the state. Looking ahead, MariMed’s management remains optimistic about leveraging its strong brand portfolio and strategic initiatives to drive continued growth and profitability in 2025, while navigating the evolving cannabis industry landscape.