MariMed (MRMD) AI Stock Analysis

• Market Cap: $40.80M
• Dividend Yield: N/A
• Average Volume (3M): 1.40M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.81
• Revenue Growth: -0.34%
• EPS Growth: -24.00%
• Country: US
• Employees: 715
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.01
• Shares Outstanding: 392,309,970
• 10 Day Avg. Volume: 1,629,378
• 30 Day Avg. Volume: 1,398,937
• PEG Ratio: 0.13
• Price to Book (P/B): 0.71
• Price to Sales (P/S): 0.28
• P/FCF Ratio: -7.40
• Enterprise Value/Market Cap: 2.96
• Enterprise Value/Revenue: 0.77
• Enterprise Value/Gross Profit: 2.00
• Enterprise Value/Ebitda: 9.81
• 1Y Price Target: $0.25
• Price Target Upside: 212.50% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 38 Underperform
• Price Target: $0.00 ▼(-100.00% Downside)

MariMed's overall stock score is primarily impacted by its weak financial performance and bearish technical indicators. The company's high leverage and negative profit margins pose significant risks. The stock's valuation is unattractive due to its negative P/E ratio and lack of dividend yield. While there are some positive developments from the earnings call, they are not enough to offset the broader challenges.

Positive Factors

Revenue Growth

Sequential growth in revenue, particularly in wholesale, indicates expanding market reach and effective sales strategies, which are crucial for long-term business sustainability.

Expansion into Hemp Market

Entering the hemp market represents a strategic diversification, potentially tapping into a growing industry, which could enhance revenue streams and market presence over time.

Positive Cash Flow

Improved cash flow from operations suggests better financial management and operational efficiency, providing a stronger foundation for future investments and growth.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, potentially impacting the company's ability to invest in growth opportunities and manage economic downturns.

Net Loss and Margins

Ongoing net losses and declining margins highlight operational inefficiencies and financial challenges, which could hinder long-term profitability and competitiveness.

Retail Revenue Challenges

Stagnant retail revenue growth amidst increased competition and pricing pressures suggests potential market saturation and challenges in maintaining competitive advantage.

MariMed Business Overview & Revenue Model

Company Description

MariMed Inc. engages in cultivation, production, and dispensing of medicinal and recreational cannabis in the United States and internationally. The company offers cannabis genetics produce flowers and concentrates under the Nature's Heritage brand; cannabis-infused products in the form of chewable tablets and powder drink mixes under the brand Kalm Fusion; natural fruit chews under the Betty's Eddies brand; brownies, cookies, and other social sweets under the Bubby's Baked brand; and cannabidiol formulations under the Florance brand. It also licenses its brands and product formulations, as well as leases cannabis facilities. MariMed Inc. was incorporated in 2011 and is based in Norwood, Massachusetts.

How the Company Makes Money

MariMed generates revenue primarily through the sale of cannabis products across its retail dispensaries and wholesale distribution channels. The company's revenue model includes direct sales from its owned dispensaries, where it offers a range of cannabis products to consumers. Additionally, MariMed benefits from wholesale partnerships with other dispensaries and retailers, supplying them with its proprietary products. The company also engages in cultivation and production, which allows it to control quality and reduce costs. Significant partnerships with local and state governments, as well as collaborations with other cannabis companies, further enhance its market presence and revenue potential.

MariMed Financial Statement Overview

Summary

MariMed's financial performance is challenged by negative profit margins and high leverage. Despite revenue growth, the company struggles with profitability and cash flow conversion, indicating significant financial risks.

Income Statement

MariMed's income statement shows a mixed performance. The company has experienced revenue growth, with a TTM growth rate of 11%. However, profitability metrics are concerning, with a negative net profit margin of -10.14% and declining gross profit margins over the years. The EBIT and EBITDA margins are also low, indicating challenges in operational efficiency.

Balance Sheet

The balance sheet reveals high leverage, with a debt-to-equity ratio of 1.44 in the TTM period, indicating significant reliance on debt financing. The return on equity is negative, reflecting the company's inability to generate profits from shareholders' equity. The equity ratio is low, suggesting potential financial instability.

Cash Flow

Cash flow analysis shows a decline in free cash flow growth, with a negative growth rate of -27.06% in the TTM period. The operating cash flow to net income ratio is low, indicating challenges in converting income into cash. However, the free cash flow to net income ratio is positive, suggesting some ability to generate cash despite losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	157.33M	157.96M	148.60M	134.01M	121.46M	50.90M
Gross Profit	60.24M	62.87M	65.92M	63.96M	66.26M	31.32M
EBITDA	12.30M	13.83M	11.16M	25.91M	28.96M	16.49M
Net Income	-17.87M	-12.16M	-16.03M	13.47M	7.22M	2.14M
Balance Sheet
Total Assets	205.60M	206.99M	196.12M	152.20M	123.20M	76.45M
Cash, Cash Equivalents and Short-Term Investments	6.60M	7.28M	14.73M	9.86M	29.93M	4.36M
Total Debt	86.40M	88.47M	80.13M	37.37M	24.37M	42.62M
Total Liabilities	136.55M	147.11M	126.21M	94.89M	86.91M	68.34M
Stockholders Equity	14.72M	61.63M	71.56M	58.82M	37.86M	8.68M
Cash Flow
Free Cash Flow	1.61M	-5.89M	-12.85M	-5.43M	17.29M	-1.56M
Operating Cash Flow	3.85M	6.79M	7.91M	7.31M	35.85M	3.38M
Investing Cash Flow	-2.38M	-17.13M	-25.98M	-26.24M	-16.62M	-4.46M
Financing Cash Flow	-893.00K	2.98M	22.98M	-1.01M	7.45M	3.34M

MariMed Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.08
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRMD, the sentiment is Negative. The current price of 0.08 is below the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.12, and below the 200-day MA of 0.11, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 33.39 is Neutral, neither overbought nor oversold. The STOCH value of 50.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MRMD.

MariMed Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IMCC	42 Neutral	$6.72M	-2.36	-93.87%	―	-0.74%	81.49%
FLGC	40 Neutral	$6.77M	-0.23	-37.38%	―	-22.60%	53.82%
YCBD	40 Underperform	$7.21M	-0.13	-33.13%	―	-7.80%	90.17%
TLRY	40 Underperform	$878.53M	―	-85.59%	―	2.31%	-726.17%
IXHL	39 Underperform	$122.46M	―	-114.52%	―	-86.05%	24.17%
MRMD	38 Underperform	$40.80M	-2.49	-24.41%	―	-0.34%	-24.00%

MariMed Corporate Events

MariMed’s Betty’s Eddies™ Launches Limited-Edition Winter Fruit Chew

MariMed Inc.’s brand, Betty’s Eddies™, has launched a new limited-edition winter seasonal fruit chew called Bundle Up Betty’s, featuring cranberry, orange, and warming spices. This product, infused with THC and CBD, is available in select dispensaries across Massachusetts, Maryland, Illinois, and Delaware, aiming to provide consumers with a comforting and relaxing experience during the winter season.

The most recent analyst rating on (MRMD) stock is a Buy with a $0.25 price target. To see the full list of analyst forecasts on MariMed stock, see the MRMD Stock Forecast page.

MariMed Reports Growth Amid Strategic Expansions

MariMed Inc. is a prominent multi-state cannabis operator renowned for its cultivation, production, and retail facilities, offering a diverse portfolio of award-winning cannabis brands. In its third-quarter earnings report for 2025, MariMed highlighted sequential growth in revenue, adjusted EBITDA, and operating cash flow, despite facing increased competition. The company reported a slight increase in revenue to $40.8 million compared to the same quarter last year, although it faced a net loss of $2.9 million. Key strategic moves included expanding its brand distribution to new states such as Maine, Pennsylvania, and New York, and launching adult-use sales in Delaware. The company also exited the Missouri market and plans to introduce hemp-derived THC products in Rhode Island by early 2026. Looking ahead, MariMed remains focused on expanding its brand presence in high-growth states and enhancing profitability through operational efficiencies.

MariMed’s Earnings Call: Growth Amidst Challenges

The recent earnings call for MariMed Inc. presented a mixed bag of positive developments and ongoing challenges. The company reported sequential growth in revenue and positive cash flow, largely driven by strong performance in Delaware and strategic expansion into the hemp market. However, challenges such as retail revenue struggles, increased net losses, and the decision to exit the Missouri market highlight the pressures the industry is currently facing.