MariMed's Q3 Revenue Slightly Up YoY As Net Loss Improves, Revises Guidance

After the market closed Wednesday, multi-state cannabis operator MariMed Inc. (CSE:MRMD) (OTCQX:MRMD) reported its financial results for the third quarter ended Sep. 30, 2024. The Massachusetts-headquartered marijuana company disclosed quarterly revenue of $40.6 million, up from $38.8 million in the same period last year.

"We reported year-over-year and sequential revenue growth, sequential EBITDA and net income improvement and we continue to generate positive operating cash flow," stated CEO Jon Levine. "Our wholesale business continues to outpace the industry with another quarter of at least 20% year-over-year growth. Despite continued pressure on U.S. consumers, our retail business transactions grew year-over-year, driven by both same-store sales growth and the new dispensaries opened in the past 12 months. Our heavy investment phase is complete, ...

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