MariMed Q3 revenue $38.8M (+14% YoY), GAAP net loss of $4.3M vs profit a year ago

MARIMED INC.

2023-Q3 EPS reported -$0.02 revenue$109,699,000

Revenue of $38.8M for Q3 2023, up 14% from $33.9M in Q3 2022.
GAAP net loss of $4.3M, compared to net income of $2.7M in the prior-year quarter.
Non-GAAP adjusted EBITDA of $6.1M (16% margin) vs $8.6M (25% margin) a year ago.
Reported 15th consecutive quarter of positive adjusted EBITDA.
Maryland adult-use sales launched July 1; wholesale business set quarterly records.

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 three months ended September 30, 2023 results: revenue $ 38.8, net income $ (4.3).

Period: three months ended September 30, 2023
Revenue: $ 38.8
Net income: $ (4.3)
Result: reported results

Exact text from the filing

Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Revenue $ 38.8 $ 33.9 $ 109.7 $ 98.2 GAAP Gross margin 43 % 48 % 44 % 49 % Non-GAAP Gross margin 45 % 48 % 45 % 49 % GAAP Net (loss) income $ (4.3) $ 2.7 $ (5.9) $ 8.9 Non-GAAP Net (loss) income $ (3.1) $ 4.7 $ (2.2) $ 17.0 Non-GAAP Adjusted EBITDA $ 6.1 $ 8.6 $ 19.4 $ 27.9 Non-GAAP Adjusted EBITDA margin 16 % 25 % 18 % 28 %

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MARIMED INC. reported nine months ended September 30, 2023 results: revenue $ 109.7, net income $ (5.9).

Period: nine months ended September 30, 2023
Revenue: $ 109.7
Net income: $ (5.9)
Result: reported results

Exact text from the filing

Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 Revenue $ 38.8 $ 33.9 $ 109.7 $ 98.2 GAAP Gross margin 43 % 48 % 44 % 49 % Non-GAAP Gross margin 45 % 48 % 45 % 49 % GAAP Net (loss) income $ (4.3) $ 2.7 $ (5.9) $ 8.9 Non-GAAP Net (loss) income $ (3.1) $ 4.7 $ (2.2) $ 17.0 Non-GAAP Adjusted EBITDA $ 6.1 $ 8.6 $ 19.4 $ 27.9 Non-GAAP Adjusted EBITDA margin 16 % 25 % 18 % 28 %

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MARIMED INC. filing history →

Source: SEC EDGAR

accession 0001522767-23-000119

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