MariMed Q3 revenue $40.8M, adjusted EBITDA $5.1M; expands brands to 3 new states

MARIMED INC.

2025-Q3 EPS reported -$0.03 vs consensus -$0.01 ▼ miss (-194.1%)

Revenue flat at $40.8M (Q3 2024: $40.6M); GAAP net loss widened to $2.9M from $1.0M.
Adjusted EBITDA rose to $5.1M from $4.7M; margin improved to 13% from 12% YoY.
Sequential growth in wholesale and retail; new brand distribution agreements in Maine, Pennsylvania, and New York.
Delaware adult-use sales launched; Metropolis, IL location impacted by new competition.
Nine-month revenue $118.2M vs $118.8M; GAAP net loss $9.8M vs $4.2M.

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