MariMed Q1 revenue flat at $38.0M; net loss widens to $5.4M from $1.3M YoY

MARIMED INC.

2025-Q1 EPS reported -$0.01 revenue$37,955,000

Revenue of $38.0M flat vs $37.9M a year ago; GAAP gross margin fell to 40% from 43%.
GAAP net loss of $5.4M widened from $1.3M loss; Non-GAAP net loss $3.8M vs $0.6M.
Non-GAAP Adjusted EBITDA dropped to $2.6M (7% margin) from $4.7M (12% margin).
Wholesale sales rose to 44% of revenue; 70 new storefronts added; Betty's Eddies top edible in MA, MD, DE.
Management cites soft retail quarter, ramp-up costs in IL and MO; eyes M&A, licensing, hemp entry.

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