---
schema_version: "secwatch.filing_event.v1"
accession: "0001522767-23-000075"
form_type: "8-K"
ticker: "MRMD"
cik: "0001522767"
company_name: "MARIMED INC."
filed_at: "2023-05-08T23:59:59+00:00"
generated_at: "2026-06-15T13:04:03.551461+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# MariMed Q1 revenue up 10% YoY to $34.4M but GAAP net loss of $0.7M vs prior-year profit

## Summary
- Revenue $34.4M vs $31.3M YoY (+10%); GAAP gross margin fell to 45% from 54%.
- GAAP net loss $(0.7)M vs net income $4.2M a year ago; non-GAAP net income $0.3M.
- Adjusted EBITDA $7.1M (21% margin) down from $10.4M (33% margin) in Q1 2022.
- CEO notes 13th consecutive quarter of positive adjusted EBITDA; expects 4th straight year of positive operating cash flow.
- Non-GAAP adjusted EBITDA margin declined to 21% from 33% on higher costs and product mix.

## SEC filing metadata
- accession: 0001522767-23-000075
- form_type: 8-K
- ticker: MRMD
- cik: 0001522767
- company_name: MARIMED INC.
- filed_at: 2023-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000075/0001522767-23-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000075/mrmd-20230508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001522767-23-000075
- JSON: https://secwatch.observer/filing/0001522767-23-000075.json
- Plain text: https://secwatch.observer/filing/0001522767-23-000075.txt

## Key facts
- Earnings Releases
  MARIMED INC. reported the first quarter ended March 31, 2023 results: revenue $34.4, net income $(0.7).
  - Period: the first quarter ended March 31, 2023
  - Revenue: $34.4
  - Net income: $(0.7)
  - Result: reported results
  source text: Financial Highlights 1 The following table summarizes the Company's consolidated financial highlights (in millions, except percentage amounts): Three months ended March 31, 2023 2022 Revenue $ 34.4 $ 31.3 GAAP Gross margin 45 % 54 % Non-GAAP Gross margin 46 % 54 % GAAP Net (loss) income $ (0.7) $ 4.2 Non-GAAP Net income $ 0.3 $ 6.9 Non-GAAP Adjusted EBITDA $ 7.1 $ 10.4 Non-GAAP Adjusted EBITDA margin 21 % 33 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/1522767/000152276723000075/0001522767-23-000075-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.