Welcome to our dedicated page for Marimed news (Ticker: MRMD), a resource for investors and traders seeking the latest updates and insights on Marimed stock.
MariMed Inc. reports news on its multi-state cannabis operating platform, including cultivation, production, branded consumer products and retail dispensaries. Company updates commonly cover financial results, earnings-call schedules, wholesale distribution, branded product activity and retail operations tied to names such as Betty's Eddies, Bubby’s Baked, InHouse, Nature’s Heritage, Vibations and Thrive Dispensary.
Recurring developments also include capital-structure actions, preferred-stock obligations, hemp-derived THC product launches, cannabis regulatory commentary and community initiatives associated with the company's dispensary and 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.
MariMed, a leading multi-state cannabis operator, has received approval to commence adult-use retail sales at its Panacea Wellness dispensary in Quincy, Massachusetts. This makes it MariMed's third adult-use dispensary in the state, hitting the maximum allowed by law. The Quincy location began adult-use sales on July 2, 2024, offering a variety of products including Nature's Heritage flower and concentrates, Betty's Eddies fruit chews, and Bubby's Baked goods.
Additionally, MariMed announced regulatory updates in Ohio and Maryland. They received a provisional dual-use license for recreational sales in Tiffin, Ohio, pending final state inspection. In Maryland, MariMed received approval to operate a newly expanded cultivation facility in Hagerstown and expects to commence operations at a second Thrive dispensary in Upper Marlboro later this month.
These developments are expected to positively impact MariMed's future operational and financial results.
MariMed has completed the acquisition of Our Community Wellness & Compassionate Care Center in Prince George's County, Maryland, effective April 5th. This dispensary, closed since July 1st, 2023, will reopen for adult-use cannabis sales by the end of the second quarter, pending regulatory approval. MariMed paid the state’s adult-use conversion fee and obtained the necessary retail license from the Maryland Cannabis Administration. This acquisition marks the company's second adult-use Thrive Wellness dispensary in Maryland. MariMed also operates a dispensary in Annapolis and a cultivation and processing facility in Hagerstown. The company plans further acquisitions to reach the state-allowed maximum of four dispensaries. The new Upper Marlboro location will feature MariMed’s branded products, including Nature’s Heritage, Betty’s Eddies, Bubby’s Baked, and Vibations.
MariMed Inc. reported strong financial results for the first quarter of 2024, with revenue reaching $37.9 million and a positive adjusted EBITDA for the 17th consecutive quarter. The company outperformed its competition in all markets, including Illinois, with significant growth in its wholesale business. MariMed also announced key operational highlights, such as expanding its branded products in Illinois, opening a new dispensary in Maryland, and forming partnerships with Boston music venues. The company's 2024 financial targets include revenue growth of 5-7% and non-GAAP Adjusted EBITDA growth of 0-2%.
MariMed Inc. CEO Jon Levine praises the DEA's decision to move cannabis to Schedule III, highlighting benefits for consumers, patients, communities, investors, and the industry. The reclassification will ease research, boost product innovation, remove tax burdens, and potentially open up financial opportunities.
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