MariMed Q2 revenue $36.5M (+11% YoY); GAAP net loss $0.9M vs $1.9M profit

MARIMED INC.

2023-Q2 EPS reported $0.00 revenue$70,899,000

Revenue $36.5M, up 11% from $33.0M year-over-year; wholesale set monthly and quarterly records.
GAAP net loss $0.9M vs income $1.9M in Q2 2022; non-GAAP net income $0.6M vs $5.5M.
Adjusted EBITDA $6.3M (17% margin) down from $8.9M (27% margin) last year; 14th straight positive quarter.
Non-GAAP gross margin 46% flat YoY; balance sheet remains one of strongest in industry.
Adult-use sales in Maryland commenced July 1, 2023, driving expected acceleration.

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