MariMed (MRMD) AI Stock Analysis

• Market Cap: $38.68M
• Dividend Yield: N/A
• Average Volume (3M): 1.40M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.97
• 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: 395,073,640
• 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: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $0.25
• Price Target Upside: 108.33% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $0.11 ▼(-12.50% Downside)

MariMed's overall stock score reflects significant financial challenges, including negative profit margins and high leverage. While there is some positive momentum in technical indicators, the valuation remains unattractive due to ongoing losses. The earnings call provided mixed insights, with growth in certain areas but also notable challenges.

Positive Factors

Regulatory Change

The reclassification of cannabis will reduce tax burdens and enhance profitability, allowing MariMed to operate more like traditional consumer goods companies.

Wholesale Revenue Growth

Sustained growth in wholesale revenue indicates strong demand and effective distribution strategies, supporting long-term revenue stability.

Expansion into Hemp Market

Entering the hemp market diversifies MariMed's product offerings and taps into a growing segment, potentially boosting future revenue streams.

Negative Factors

High Leverage

High leverage can limit financial flexibility and increase risk, potentially impacting MariMed's ability to invest in growth opportunities.

Retail Revenue Challenges

Stagnant retail revenue growth highlights competitive pressures and pricing challenges, which could affect long-term market positioning.

Net Loss and Margins

Ongoing net losses and declining margins suggest operational inefficiencies and profitability challenges that may hinder financial performance.

MariMed Business Overview & Revenue Model

Company Description

MariMed (MRMD) is a leading multi-state operator in the cannabis industry, focusing on the cultivation, production, and retail of cannabis and hemp-derived products. The company operates in several sectors, including medical and recreational cannabis, and is committed to providing high-quality products, including edibles, oils, and other cannabis-infused items. With a strong emphasis on compliance and sustainability, MariMed aims to enhance the overall cannabis experience for consumers while contributing positively to the communities it serves.

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: 0.12
• 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 0.12 is above the 20-day moving average (MA) of 0.09, above the 50-day MA of 0.11, and above the 200-day MA of 0.11, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 49.35 is Neutral, neither overbought nor oversold. The STOCH value of 35.27 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%
TLRY	47 Neutral	$1.22B	-0.46	-85.59%	―	2.31%	-726.28%
MRMD	46 Neutral	$38.68M	-2.09	-24.41%	―	-0.34%	-24.00%
FLGC	46 Neutral	$5.42M	-0.22	-37.38%	―	-22.60%	53.82%
IMCC	45 Neutral	$7.71M	-1.87	-93.87%	―	-0.74%	81.49%
YCBD	40 Underperform	$14.87M	-0.42	-44.42%	―	-1.50%	80.17%
IXHL	39 Underperform	$139.74M	-0.37	-114.52%	―	-86.05%	24.17%

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.