MariMed Q1 2024 revenue up 10% to $37.9M; net loss widens to $1.3M, adjusted EBITDA down

MARIMED INC.

2024-Q1 EPS reported $0.00 revenue$37,933,000

Revenue of $37.9M (+10% YoY); GAAP gross margin 43% vs 45% in prior year.
GAAP net loss $1.3M (vs $0.7M loss); non-GAAP net loss $0.6M (vs $0.3M income).
Adjusted EBITDA $4.7M vs $7.1M; margin 12% vs 21%; CEO cites wholesale growth.
17th consecutive quarter of positive adjusted EBITDA; management reaffirms strategic plan.

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 the first quarter ended March 31, 2024 results: revenue $ 37.9, net income $ (1.3).

Period: the first quarter ended March 31, 2024
Revenue: $ 37.9
Net income: $ (1.3)
Result: reported results

Exact text from the filing

1 The following table summarizes the Company's consolidated financial highlights (in millions, except percentage amounts): Three months ended March 31, 2024 2023 Revenue $ 37.9 $ 34.4 GAAP Gross margin 43 % 45 % Non-GAAP Gross margin 44 % 46 % GAAP Net loss $ (1.3) $ (0.7) Non-GAAP Net (loss) income $ (0.6) $ 0.3 Non-GAAP Adjusted EBITDA $ 4.7 $ 7.1

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Source: SEC EDGAR

accession 0001522767-24-000040

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