MariMed Inc (MRMD)
OTHER OTC:MRMD
Want to see MRMD full AI Analyst Report?
Top Page
MariMed
(OTC:MRMD)
Select Model
Select Model
Rating:44Neutral
Price Target:
$0.07
▲(4.29% Upside)
Action:Reiterated
Date:05/16/26
The score is weighed down primarily by weak financial quality (ongoing losses, margin pressure) and elevated balance-sheet leverage. Technicals also signal a sustained downtrend despite oversold indicators. Offsetting factors include a more constructive earnings outlook (positive EBITDA/cash flow and expansion plans) and a financing restructure that reduced a near-term cash obligation, but these are not yet enough to overcome leverage and profitability risks.
Positive Factors
Positive operating and free cash flow
Consistent positive operating and free cash flow (TTM ~$7.4M and ~$5.8M) provides a durable internal funding source to support capex, licensing and modest expansion. Over 2–6 months this reduces reliance on immediate external financing and helps bridge losses, though scale limits remain.
Negative Factors
Very high leverage
Extremely high leverage (debt-to-equity ~13x) materially constrains strategic flexibility, raises refinancing risk and limits capacity to invest or absorb shocks. Even with positive cash flow, interest and principal burdens increase the chance of funding stress over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive operating and free cash flow
Consistent positive operating and free cash flow (TTM ~$7.4M and ~$5.8M) provides a durable internal funding source to support capex, licensing and modest expansion. Over 2–6 months this reduces reliance on immediate external financing and helps bridge losses, though scale limits remain.
Read all positive factors
MariMed (MRMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$29.94M
Dividend YieldN/A
Average Volume (3M)1.40M
Price to Earnings (P/E)―
Beta (1Y)0.91
Revenue Growth2.23%
EPS Growth25.23%
CountryUS
Employees715
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.03
Shares Outstanding399,266,080
10 Day Avg. Volume1,629,378
30 Day Avg. Volume1,398,937
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)0.66
Price to Sales (P/S)0.21
P/FCF Ratio5.25
Enterprise Value/Market Cap4.01
Enterprise Value/Revenue0.74
Enterprise Value/Gross Profit2.07
Enterprise Value/Ebitda11.16
Forecast
1Y Price Target
$0.25Price Target Upside257.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.05
Revenue Forecast (FY)$161.35M
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 bran...
How the Company Makes Money
MariMed primarily makes money through cannabis-related sales in states where adult-use and/or medical cannabis is legal. Key revenue streams include: (1) Wholesale/production revenue: MariMed cultivates cannabis and manufactures branded products, ...
MariMed Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call conveyed a cautiously optimistic tone: the company delivered year-over-year revenue growth, positive adjusted EBITDA, stable gross margins above 40%, strong wholesale momentum in Delaware and Illinois, and robust loyalty/digital adoption—offset by expected seasonal retail softness, sequential declines in revenue and EBITDA, ongoing price compression in several markets, a continued GAAP net loss and a modest decline in cash. Management emphasized brand strength, operational discipline, and opportunities from medical rescheduling and state-level expansion (Massachusetts cap increase, Ohio store opening, licensing activity in NY/PA/Maine) while acknowledging near-term headwinds.Positive Updates
Quarterly Revenue and YoY Growth
Q1 2026 revenue of $39.5 million, up $1.6 million or 4.2% year-over-year, demonstrating continued top-line growth despite seasonal softness.
Negative Updates
Sequential Revenue Decline
Revenue declined $2.2 million sequentially, a 5.2% decrease vs Q4 2025, driven primarily by expected seasonal softness in retail volume and AOV pressure in certain markets.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue and YoY Growth
Q1 2026 revenue of $39.5 million, up $1.6 million or 4.2% year-over-year, demonstrating continued top-line growth despite seasonal softness.
Read all positive updates
Company Guidance
Management guided that licensing revenue in New York and Pennsylvania is expected early next year, they plan to open a second Thrive retail location in Columbus, Ohio before year‑end, will pursue additional retail opportunities in Massachusetts now that the dispensary cap rose from 3 to 6, and will continue a mix of M&A and licensing to expand distribution; they also noted the April 22 rescheduling should immediately reduce 280E taxes for the medical business (medical sales were ~20% of Q1 retail revenue) and that MariMed is registering with the DEA while monitoring implementation. These plans are supported by Q1 results of $39.5M revenue, $15.8M gross profit (40.1% gross margin, +20 bps sequential, -110 bps YoY), $3.6M adjusted EBITDA (9% margin, up ~$1.1M YoY, down ~$800k sequential), $1.4M operating income, GAAP net loss of $3.8M, $7.9M cash, ~ $800k of investment spend, and positive operating cash flow; operational metrics cited include wholesale +4% YoY (-1% QoQ) and retail +5% YoY (-7% QoQ), 84% storefront coverage, Delaware wholesale +13% QoQ/+373% YoY pro forma, Illinois wholesale +25% QoQ/+22% YoY, membership growth +10% in Q1 to ~398,000 active members who drove ~80% of retail revenue with member baskets +2% vs nonmembers, and online/advance orders representing north of 50% of orders.MariMed Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
22
Negative
Cash Flow
54
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 161.51M | 159.83M | 157.96M | 148.60M | 134.01M | 121.46M |
| Gross Profit | 58.17M | 57.88M | 62.87M | 65.92M | 63.96M | 66.26M |
| EBITDA | 10.77M | 9.44M | 13.83M | 11.16M | 25.91M | 28.96M |
| Net Income | -12.63M | -14.48M | -12.16M | -16.03M | 13.47M | 7.22M |
Balance Sheet | ||||||
| Total Assets | 201.19M | 202.56M | 206.99M | 196.12M | 152.20M | 123.20M |
| Cash, Cash Equivalents and Short-Term Investments | 7.94M | 8.88M | 7.28M | 14.73M | 9.86M | 29.93M |
| Total Debt | 98.14M | 100.09M | 88.47M | 80.13M | 37.37M | 24.37M |
| Total Liabilities | 154.67M | 152.56M | 147.11M | 126.21M | 94.89M | 86.91M |
| Stockholders Equity | 48.41M | 51.87M | 61.63M | 71.56M | 58.82M | 37.86M |
Cash Flow | ||||||
| Free Cash Flow | 5.83M | 6.53M | -5.89M | -12.85M | -5.43M | 17.29M |
| Operating Cash Flow | 7.35M | 7.70M | 6.79M | 7.91M | 7.31M | 35.85M |
| Investing Cash Flow | -2.02M | -1.38M | -17.13M | -25.98M | -26.24M | -16.62M |
| Financing Cash Flow | -4.60M | -4.71M | 2.98M | 22.98M | -1.01M | 7.45M |
MariMed Technical Analysis
Neutral
0.07
Price Trends
0.08
Positive
0.08
Negative
0.10
Negative
Market Momentum
>-0.01
Positive
51.82
Neutral
42.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRMD, the sentiment is Neutral. The current price of 0.07 is below the 20-day moving average (MA) of 0.08, below the 50-day MA of 0.08, and below the 200-day MA of 0.10, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 51.82 is Neutral, neither overbought nor oversold. The STOCH value of 42.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MRMD.
MariMed Risk Analysis
MariMed disclosed 39 risk factors in its most recent earnings report. MariMed reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MariMed Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $42.12M | -2.39 | -122.57% | ― | -100.00% | 54.21% | |
49 Neutral | $632.71M | -6.11 | -92.82% | ― | 3.82% | -29.80% | |
47 Neutral | $7.99M | >-0.01 | -40.66% | ― | 2.00% | 94.31% | |
44 Neutral | $29.94M | -1.81 | -28.84% | ― | 2.23% | 25.23% | |
42 Neutral | $1.51M | -0.46 | -93.87% | ― | -6.14% | -24.22% |
* Healthcare Sector Average
MRMD
MariMed
0.08
>-0.01
-6.25%
YCBD
cbdMD
0.76
-0.20
-20.83%
TLRY
Tilray
5.29
0.87
19.58%
IMCC
IM Cannabis Corp
0.24
-1.63
-87.06%
IXHL
Incannex Healthcare Limited Sponsored ADR
3.52
-3.01
-46.10%
MariMed Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
MariMed Restructures Preferred Stock and Secures New Financing
Positive
Mar 2, 2026
On February 24, 2026, MariMed Inc. and major investor Navy Capital Green International restructured a looming obligation tied to legacy Series B preferred shares that would have required a cash payment of about $14.2 million in 2026. The deal canc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.