MariMed Q3 revenue $33.9M (+2% YoY); adjusted EBITDA falls 32% to $8.6M

MARIMED INC.

2022-Q3 EPS reported $0.02 revenue$98,180,000

Revenue $33.9M vs $33.2M in Q3 2021, a 2% YoY increase.
GAAP net income $2.7M, up from $2.1M YoY.
Non-GAAP adjusted EBITDA $8.6M, down from $12.6M YoY; margin 25% vs 38%.
Gross margin declined to 48% from 55% YoY.
CEO cites industry headwinds but highlights strength in retail and wholesale.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARIMED INC. reported third quarter ended September 30, 2022 results: revenue $33.9, net income $2.7.

Period: third quarter ended September 30, 2022
Revenue: $33.9
Net income: $2.7
Result: reported results

Exact text from the filing

financial highlights for the three months ended September 30, 2022 and 2021 (in millions, except percentage amounts): Three months ended September 30, 2022 2021 Revenue $ 33.9 $ 33.2 Gross margin 48 % 55 % GAAP Net income $ 2.7 $ 2.1 Non-GAAP Adjusted EBITDA $ 8.6 $ 12.6 Non-GAAP Adjusted EBITDA margin 25 % 38 % 1 See the reconciliations of

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Source: SEC EDGAR

accession 0001522767-22-000012

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