MariMed Q4 revenue $38.9M (+8.6% YoY); GAAP net loss $10.1M; announces MD dispensary acquisition

MARIMED INC.

Q4 2023 revenue $38.9M, up 8.6% from $35.8M in Q4 2022; full year revenue $148.6M, up 10.9% from $134.0M.
GAAP net loss of $10.1M in Q4 vs net income of $4.8M in prior year; full year net loss $16.0M vs net income $13.6M.
Non-GAAP adjusted EBITDA $5.2M in Q4 (14% margin) vs $4.5M in Q4 2022; full year $24.7M (17% margin) vs $32.4M (24% margin).
Company announces pending acquisition of a dispensary in Upper Marlboro, Maryland, expanding its footprint in the state.
CEO cites sixth consecutive year of double-digit revenue growth and positive adjusted EBITDA; wholesale operations in Illinois contributing to 2024.

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 financial results for the fourth quarter and year ended December 31, 2023.

Period: the fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 6, 2024, MariMed Inc. (the “Company”) issued a press release, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference, announcing its financial results for the three months and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001522767-24-000005

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