MariMed Q2 revenue $39.6M, adjusted EBITDA $4.9M; net loss narrows YoY

MARIMED INC.

2025-Q2 EPS reported -$0.02 vs consensus -$0.01 ▼ miss (-96.1%)

Revenue of $39.6M for Q2 2025, down 2% YoY from $40.4M; GAAP net loss improved to $1.3M from $1.6M.
Non-GAAP adjusted EBITDA of $4.9M (12% margin), up from $4.4M (11% margin) in Q2 2024; company was cash flow positive.
CEO cites 'Expand the Brand' strategy; growth in Massachusetts, full-quarter Delaware contributions, and entry into Pennsylvania.
Six-month net loss widened to $6.7M from $2.9M, while non-GAAP net loss also widened; adjusted EBITDA margin fell to 10%.
Company anticipates catalysts in H2: adult-use Delaware, new Maine license, Pennsylvania entry, and M&A optionality.

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