Marimed Stock Price, News & Analysis

MariMed's Nature's Heritage launches 'Amplify Your Experience' campaign, offering local musicians a chance to be featured in promotions for their high-quality vapes. The campaign includes opportunities for artists to perform at brand pop-ups, in-store activations, and on social media platforms. Musicians can apply through the Nature's Heritage Instagram page until November 1.

The initiative builds on previous successful music programs, including partnerships with Boston music venues MGM Music Hall Fenway and Citizens House of Blues Boston. Nature's Heritage aims to celebrate the connection between music and cannabis while providing a platform for local talent. The campaign will involve billboards, venue signage, live activations, and digital advertising to promote their premium, organically cultivated products.

Betty's Eddies, a brand produced by MariMed Inc. (CSE: MRMD) (OTCQX: MRMD), has announced its second annual collaboration with the Keep A Breast Foundation (KAB) to promote breast cancer awareness education. The initiative includes:

• Redesigned pink packaging for Ache Away Eddies fruit chews
• Promotion of the KAB app for self-checking education
• Distribution of Betty's Loves Boobies bracelets and t-shirts
• A monetary donation to KAB from MariMed

The campaign will be available in Massachusetts, Maryland, Illinois, and Delaware. Additionally, Betty's Eddies will sponsor the 2024 Susan G. Komen More Than Pink Walk in Cambridge, Massachusetts, further supporting Breast Cancer Awareness Month.

MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) has launched adult-use retail sales at its Thrive Wellness dispensary in Tiffin, Ohio. The dispensary, which opened in June 2023 as a medical-only facility, now offers a wide range of branded flower and edible products to both medical and recreational customers.

CEO Jon Levine expressed enthusiasm for the expansion, stating that Ohio is expected to become one of the largest cannabis markets in the country. MariMed is prioritizing Ohio in its mergers and acquisitions strategy to become a vertical operator as quickly as possible.

Ohio's medical marijuana industry generated nearly $500 million in retail sales in 2023, with significant growth anticipated following the introduction of adult-use sales. As the seventh most populous state in the U.S. with 11.8 million residents, Ohio presents a substantial market opportunity for cannabis operators like MariMed.

MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) has launched a new -edition product under its Bubby's Baked brand: Pumpkin Bread Bites. These cannabis-infused mini muffins feature real pumpkin and a blend of fall spices, catering to the seasonal flavor trend. The product is now available in Massachusetts for both adult-use and medical cannabis customers, with plans to expand to Maryland, Illinois, and Delaware soon.

Bubby's Baked products are made from scratch with real, simple ingredients and no artificial additives. The Pumpkin Bread Bites join other popular flavors in the Bubby's Baked line, including Brownie Bites, Choco Chip Bites, and Snickerdoodle Bites. This launch follows MariMed's successful strategy of introducing -edition seasonal products across its brand portfolio.

MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) has opened its second adult-use cannabis dispensary in Maryland. The new Thrive Wellness location in Upper Marlboro, Prince George's County, began operations on August 19, 2024. This expansion aligns with MariMed's strategic goal to reach the state's maximum allowable four dispensaries. The company already operates another Thrive Wellness dispensary in Annapolis and a cultivation and processing facility in Hagerstown.

CEO Jon Levine expressed excitement about the growth opportunity in Maryland's vibrant adult-use cannabis market. The new dispensary will offer MariMed's award-winning product portfolio, including Nature's Heritage, Betty's Eddies, Bubby's Baked, Vibations, and InHouse branded products. While not part of the original 2024 financial plan, this opening is expected to accelerate revenue growth for the multi-state cannabis operator.

MariMed Inc. (MRMD) reported its Q2 2024 financial results, showing strong revenue growth both year-over-year and sequentially. Key highlights include:

- Revenue increased to $40.4 million, up from $36.5 million in Q2 2023
- GAAP Gross margin decreased to 42% from 45% in Q2 2023
- GAAP Net loss widened to $(1.6) million from $(0.9) million in Q2 2023
- Non-GAAP Adjusted EBITDA decreased to $4.4 million from $6.3 million in Q2 2023

The company remains on track to meet its 2024 financial targets, with wholesale business performing exceptionally well and retail transactions up 24% year-over-year. MariMed also announced operational updates, including new dispensary acquisitions and expanded cultivation facilities.

MariMed Inc. (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator, has appointed Mario Pinho as Chief Financial Officer, effective August 9, 2024. Pinho, a Certified Public Accountant with nearly 25 years of experience, joins MariMed from Rakuten USA, where he served as CFO since 2016. His extensive background includes executive roles at American Express and KPMG LLP.

Pinho brings expertise in FP&A, accounting, tax, procurement, and treasury, as well as experience in M&A and financial transactions. CEO Jon Levine expressed enthusiasm about Pinho's addition to the executive team, highlighting his valuable experience in financial reporting, mergers and acquisitions, SOX reporting, and investor relations as MariMed continues to implement its strategic growth plan.

MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) has commenced operations in the newly expanded area of its cultivation and processing facility in Hagerstown, Maryland. This expansion will double the facility's flower capacity, enabling MariMed to meet growing demand for its products in the state. The company plans to fill all nine new grow rooms with plantings over the next two months, with the first harvest expected to be ready for sale in Q4 2024.

CEO Jon Levine emphasized the importance of increasing flower production capacity in Maryland, a high-growth adult-use market. In addition to the expanded cultivation facility, MariMed operates a GMP-certified kitchen in Hagerstown and a Thrive Wellness Dispensary in Annapolis, offering products from its award-winning brand portfolio.

MariMed, a leading multi-state cannabis operator, announced it will release its second quarter 2024 financial results on August 7, 2024, after market close. A conference call to discuss these results will be held on August 8, 2024, at 8:00 a.m. EST. Both the live webcast and playback of the call will be accessible through MariMed’s Investor Relations website.