Education
About Us
Working with TipRanks
Follow Us
MariMed Inc (MRMD)
OTHER OTC:MRMD
Top Page
MariMed
(OTC:MRMD)
Select Model
Select Model
Rating:54Neutral
Price Target:
$0.00
▼(-100.00% Downside)
MariMed's overall stock score is primarily influenced by its financial challenges, including declining revenues and high leverage. While technical indicators show bullish momentum, the valuation remains unattractive due to ongoing losses. The earnings call provided some positive sentiment with strategic expansions, but challenges persist.
MariMed (MRMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$56.30M
Dividend YieldN/A
Average Volume (3M)2.21M
Price to Earnings (P/E)―
Beta (1Y)1.00
Revenue Growth0.70%
EPS Growth9.94%
CountryUS
Employees715
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)0.00
Shares Outstanding392,309,970
10 Day Avg. Volume1,329,680
30 Day Avg. Volume2,214,009
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap2.14
Enterprise Value/Revenue0.77
Enterprise Value/Gross Profit1.99
Enterprise Value/Ebitda13.20
Forecast
1Y Price Target
$0.25Price Target Upside78.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
MariMed Business Overview & Revenue Model
Company DescriptionMariMed 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 MoneyMariMed 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 Earnings Call Summary
Earnings Call Date:Aug 06, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Positive
The earnings call reflected a generally positive sentiment with notable growth in sequential revenue, wholesale and retail operations, and successful expansion into new markets like Delaware and Pennsylvania. However, challenges such as year-over-year revenue decline, performance issues in Missouri, and competition affecting the Metropolis dispensary were also highlighted.Q2-2025 Updates
Positive Updates
Sequential Revenue Growth
Consolidated revenue for the second quarter of 2025 was $39.6 million, representing a 4.4% increase sequentially.
Wholesale Revenue Growth
Wholesale revenue grew 2% sequentially and 8% compared to the same period last year.
Retail Revenue Growth
Retail revenue increased 8% sequentially, driven by growth in top line across most dispensaries.
Adjusted EBITDA Increase
Adjusted EBITDA for the second quarter was $4.9 million, an increase of $2.3 million sequentially.
Adult-Use Sales in Delaware
MariMed was ready to take full advantage of adult-use sales beginning in Delaware, contributing to increased growth at both retail and wholesale levels.
Expansion into Pennsylvania
MariMed entered into an MSA agreement to manage a cultivation and processing facility in Pennsylvania, which is expected to contribute to top line and margins starting September 1.
Brand Performance
Betty's Eddies remained the top-selling edible in Massachusetts, Maryland, and Delaware, and Vibations performed well, being a top 10 brand in core markets.
Cash Flow Positive
MariMed was cash flow positive, ending the quarter with $6.1 million in cash and cash equivalents.
Negative Updates
Year-Over-Year Revenue Decline
Second quarter revenue declined 2% year-over-year, largely due to reduced performance at certain dispensaries.
Challenges in Missouri
Performance in Missouri did not meet expectations, and the company is evaluating options to improve profitability in the state.
Metropolis Dispensary Performance
Year-over-year revenue decline was impacted by increased competition near the Metropolis dispensary, although it remains one of the top-performing stores.
Impact of Seed-to-Sale Platform Transition in Illinois
The transition to a new seed-to-sale platform in Illinois negatively impacted wholesale revenue for the quarter.
Company Guidance
During the MariMed Inc. Second Quarter 2025 Financial Results Conference Call, the company reported a sequential revenue increase of 4.4% to $39.6 million, although it was a 2% decline year-over-year. Wholesale revenue grew by 2% sequentially and 8% year-over-year, with Massachusetts showing a significant 5.6% increase. Retail revenue also increased by 8% sequentially, despite a 5% year-over-year decline, primarily due to competition near their Metropolis dispensary. MariMed's adjusted gross margin was 41.9%, slightly up from the previous quarter. The company reported a net loss of $1.3 million, an improvement from both the previous quarter and the same period last year. Adjusted EBITDA rose to $4.9 million, driven by increased revenue and cost management. The balance sheet remained strong with $6.1 million in cash and $38.5 million in operating working capital. The company highlighted its strategic moves, such as the expansion of adult-use sales in Delaware and entry into Pennsylvania, as key growth drivers for the future.MariMed Financial Statement Overview
Summary
MariMed faces significant financial challenges, with declining revenues, negative profitability, and high leverage. Despite some improvements in cash flow, the company needs to address its revenue decline and profitability issues to enhance financial health and stability.Income Statement
MariMed's income statement shows significant challenges, with declining revenue and negative net profit margins. The TTM data indicates a revenue decline of 52.3%, and the net profit margin is negative, reflecting ongoing losses. Gross profit margins have also decreased over time, indicating pressure on profitability. The company needs to address these issues to improve financial performance.45
Neutral
Balance Sheet
The balance sheet reveals a high debt-to-equity ratio of 1.44 in the TTM period, indicating significant leverage. The return on equity is negative, reflecting the company's inability to generate profits from shareholders' equity. The equity ratio is relatively stable, but the high leverage poses a risk to financial stability.50
Neutral
Cash Flow
Cash flow analysis shows some improvement, with a significant increase in free cash flow growth in the TTM period. However, the operating cash flow to net income ratio is low, indicating challenges in converting income into cash. The free cash flow to net income ratio is positive, suggesting some ability to generate cash despite net losses.55
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 157.16M | 157.96M | 148.60M | 134.01M | 121.46M | 50.90M |
| Gross Profit | 60.66M | 62.87M | 65.92M | 63.96M | 66.26M | 31.32M |
| EBITDA | 9.14M | 13.83M | 11.16M | 25.91M | 28.96M | 16.49M |
| Net Income | -15.94M | -12.16M | -16.03M | 13.47M | 7.22M | 2.14M |
Balance Sheet | ||||||
| Total Assets | 204.37M | 206.99M | 196.12M | 152.20M | 123.20M | 76.45M |
| Cash, Cash Equivalents and Short-Term Investments | 5.94M | 7.28M | 14.73M | 9.86M | 29.93M | 4.36M |
| Total Debt | 87.03M | 88.47M | 80.13M | 35.86M | 24.37M | 42.62M |
| Total Liabilities | 145.93M | 147.11M | 126.21M | 94.89M | 86.91M | 68.34M |
| Stockholders Equity | 60.25M | 61.63M | 71.56M | 58.82M | 37.86M | 8.68M |
Cash Flow | ||||||
| Free Cash Flow | 2.21M | -5.89M | -12.85M | -5.43M | 17.29M | -1.56M |
| Operating Cash Flow | 1.98M | 6.79M | 7.91M | 7.31M | 35.85M | 3.38M |
| Investing Cash Flow | -3.99M | -17.13M | -25.98M | -26.24M | -16.62M | -4.46M |
| Financing Cash Flow | -2.04M | 2.98M | 22.98M | -1.01M | 7.45M | 3.34M |
MariMed Technical Analysis
Positive
0.14
Price Trends
0.12
Positive
0.10
Positive
0.11
Positive
Market Momentum
<0.01
Positive
52.86
Neutral
26.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MRMD, the sentiment is Positive. The current price of 0.14 is below the 20-day moving average (MA) of 0.14, above the 50-day MA of 0.12, and above the 200-day MA of 0.11, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 52.86 is Neutral, neither overbought nor oversold. The STOCH value of 26.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $56.30M | ― | -24.41% | ― | 0.70% | 9.94% | |
52 Neutral | 45.79M | -19.94 | -6.90% | ― | -6.79% | 61.56% | |
44 Neutral | 46.96M | -2.65 | -38.65% | ― | -66.30% | 50.52% | |
31 Underperform | 137.82M | -2.89 | 0.00% | ― | 0.00% | 51.27% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
MRMD
MariMed
0.14
-0.03
-17.65%
DRRX
Durect
1.91
0.64
50.39%
RMTI
Rockwell Med
1.33
-2.59
-66.07%
SCYX
SCYNEXIS
1.12
-0.36
-24.32%
KALA
Kala Pharmaceuticals
19.63
13.95
245.60%
SXTC
China SXT Pharmaceuticals
1.95
-2.99
-60.53%
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.