Sequential Growth in Wholesale and Retail Revenue
MariMed reported sequential growth in both wholesale and retail revenue. Wholesale sales in Illinois increased by 23% despite a statewide decline of 1.5%, and sales in Massachusetts increased 5% despite a 2% statewide decline.
Strong Performance in Delaware
Delaware saw a 48% sequential increase in retail revenue driven by the start of adult-use sales, broader product availability, and successful brand activation. MariMed is the largest producer in the state.
Wholesale Revenue Growth
Wholesale revenue grew 5% sequentially and 11% year-over-year, now accounting for 44% of product revenue, up from 43% last quarter.
Expansion into Hemp Market
MariMed announced entry into the hemp market, with plans to launch a hemp-based THC version of Vibations in Rhode Island by Q1 2026. The hemp beverage market is projected to nearly double by 2029.
Positive Cash Flow and Cost Discipline
MariMed generated $2.7 million in cash flow from operations, a significant increase from $297,000 in the previous quarter. Operating expenses were flat sequentially and down 4% year-over-year.