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: 18.04
• 1Y Price Target: $0.25
• Price Target Upside: 150.00% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.00 ▼(-100.00% Downside)

MariMed's overall stock score is primarily impacted by its weak financial performance and challenging valuation. While there is some positive momentum from strategic initiatives and revenue growth, the company's high leverage and ongoing losses present significant risks.

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 through multiple streams, primarily from the sale of cannabis products across its dispensaries and through wholesale distribution to other retailers. The company's revenue model is built on the cultivation and processing of cannabis, which allows it to maintain a high level of quality control and product consistency. Key revenue streams include direct retail sales from its owned dispensaries, wholesale sales to third-party dispensaries, and licensing agreements that allow other operators to use MariMed's brand and products. Additionally, strategic partnerships with local growers and distributors enhance its market presence and contribute to earnings through operational efficiencies and increased market access.

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	6.69M	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	35.86M	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: 0.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 0.1 is below the 20-day moving average (MA) of 0.14, below the 50-day MA of 0.15, and below the 200-day MA of 0.11, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 32.56 is Neutral, neither overbought nor oversold. The STOCH value of 18.97 is Positive, 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%
TLRY	49 Neutral	$1.44B	―	-85.59%	―	2.31%	-726.17%
MRMD	41 Neutral	$40.80M	-2.49	-24.41%	―	-0.34%	-24.00%
YCBD	40 Underperform	$7.21M	-0.13	-33.13%	―	-7.80%	90.17%
IXHL	39 Underperform	$118.01M	-0.25	-381.09%	―	616.67%	-22.13%
IMCC	38 Underperform	$6.72M	-2.36	-36.94%	―	2.17%	88.34%
FLGC	38 Underperform	$6.77M	-0.23	-37.38%	―	-22.60%	53.82%

MariMed Corporate Events

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.

MariMed Earnings Call: Growth Amidst Challenges

The recent earnings call of MariMed Inc. presented a mixed sentiment, highlighting positive growth in certain areas such as market expansion, brand performance, and EBITDA growth, while also addressing challenges in specific operations, notably in Missouri, and a year-over-year revenue decline. This dual narrative of growth and challenges paints a complex picture for investors and stakeholders.

MariMed Reports Growth and Strategic Expansion in Q2 2025

MariMed Inc. is a prominent multi-state cannabis operator known for its innovative cannabis consumer packaged goods and award-winning brands, operating in cultivation, production, and retail sectors. In its latest earnings report for the second quarter of 2025, MariMed highlighted its strategic growth and operational expansion, despite a slight decrease in revenue compared to the previous year. The company reported a revenue of $39.6 million for the quarter, with a GAAP net loss of $1.3 million, though it achieved a non-GAAP net income of $0.4 million, reflecting effective cost management and operational efficiencies. Key financial metrics showed a sequential growth in wholesale and retail revenues, an increase in adjusted EBITDA to $4.9 million, and a positive cash flow, indicating strong performance in core markets like Massachusetts and Delaware. Strategic initiatives included the launch of new products and expansion into new markets such as Pennsylvania and Maine, aligning with their ‘Expand the Brand’ strategy. Looking ahead, MariMed remains optimistic about leveraging its strong brand portfolio and expanding product distribution to drive shareholder value, with plans to capitalize on adult-use sales in Delaware and new market entries.