Marimed (MRMD) Investor Presentation summary

Business overview and market position

• Operates in six states with 13 dispensaries and nine cultivation/production facilities, serving a total addressable market of $6.6B–$7.95B and an adult population over 45 million.

• Portfolio includes five brands, with leading positions in edibles and baked goods in multiple states.

• Wholesale network covers over 656 accounts and 500+ dispensaries, with strong partnerships in limited-license states.

• Focuses on high-barrier, limited-license markets for both retail and wholesale expansion.

• Mission centers on improving lives through cannabis, with deep community engagement and wellness-focused retail environments.

Financial performance and growth

• FY 2024 revenue reached $158M, with Q2 2025 revenue at $39.6M and a GAAP gross margin of 40%.

• Adjusted EBITDA for Q2 2025 was $4.9M, with a margin of 12%.

• Q2 2025 saw a GAAP net loss of $1.3M but a non-GAAP net income of $0.4M.

• Wholesale revenue grew 29% year-over-year, now representing 43% of Q2 2025 revenue.

• Retail sales contributed 57% of Q2 2025 revenue, with over 200,000 monthly transactions.

Brand and product innovation

• Launched 47 new products in 2024, driving 6.8% growth in MA and MD product revenue and 13% in Q2 2025.

• Betty's Eddies remains the #1 edible in MA, MD, and DE; Nature's Heritage launched in IL and is rapidly gaining shelf space.

• Recent launches include 2g vapes, Betty's Caramelt Away, and Nature's Heritage Microdose.

• Strategic licensing and MSAs in Pennsylvania and Maine expand distribution without retail capex.

• Product innovation and R&D execution cater to evolving consumer preferences.