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Marimed (MRMD) investor relations material
Marimed Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Record Q3 revenue of $44.227M, up 5.5% QoQ and 8.5% YoY; Adjusted EBITDA rose 18% sequentially to $4.657M, its 27th consecutive positive quarter.
Wholesale and retail growth, brand share gains, loyalty engagement and positive operating cash flow supported results amid pricing pressure.
Financial highlights
Q3 revenue was $44.227M versus $40.764M a year ago; nine-month revenue was $125.633M versus $118.176M.
Q3 GAAP net loss was $3.487M and adjusted non-GAAP net loss was $2.252M; GAAP operating income was $1.221M.
Q3 GAAP gross margin was 38.8%, and non-GAAP gross margin was 40.0%, down from 41.4% a year ago.
Income tax provision was $2.743M despite a $0.744M pretax loss; interest expense was $2M.
Q3 operating cash flow was $3.5M versus $2.7M a year ago; nine-month operating cash flow was $7.240M.
Outlook and guidance
No formal Q4 guidance; priorities include leveraging brands, production capacity and operating efficiencies to grow market share, open accounts and invest in the business.
New York processing kitchen remains on schedule for H1 2027; licensing and third-party distribution aim to extend brand reach with limited capital.
Growth strategy emphasizes brand innovation, edibles and beverages, broader distribution, licensing, MSA expansion and high-ROIC opportunities.
Pricing compression, especially in Massachusetts, and inflation-driven production costs may pressure margins and profitability.
- Shareholders will vote on a reverse stock split to support potential uplisting and address share price.MRMD
Proxy filing - Shareholders will vote on a reverse stock split aimed at meeting major exchange listing requirements.MRMD
Proxy filing - Q2 2026 revenue rose 6% to $41.9M, with strong retail, wholesale, and positive cash flow.MRMD
Q2 2026 - Board re-elections and auditor approval passed; management optimistic on regulatory and market outlook.MRMD
AGM 2026 - Revenue up 4.2% to $39.5M, adjusted EBITDA improved, and liquidity enhanced by restructuring.MRMD
Q1 2026 - Shareholders will vote on director elections and auditor approval, with robust governance and compensation disclosures.MRMD
Proxy filing - 2025 revenue rose 7% to $159.8M, driven by 11% wholesale growth and improved liquidity.MRMD
Q4 2025 - Q3 2024 revenue up 4.6% to $40.6M, net loss narrows, and wholesale outperforms.MRMD
Q3 2024 - Q2 revenue up 11% to $40.4M; margin pressure persists but 2024 growth targets reaffirmed.MRMD
Q2 2024
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