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. is a multi-state cannabis operator dedicated to enhancing lives daily through high-quality products, values, and actions. The company develops, owns, and manages state-licensed cannabis facilities, excelling in horticultural principles, cannabis cultivation, infused products, and dispensary operations. With expert management, MariMed has seen consistent growth and success through proprietary formulations reflected in award-winning brands like Betty's Eddies, Nature’s Heritage, InHouse, Bubby’s Baked, K Fusion, Kalm Fusion, and Vibations.
MariMed Inc. (OTCQX: MRMD) reported its Q3 2024 financial results with revenue of $40.6 million, up from $38.8 million in Q3 2023. The company showed year-over-year and sequential revenue growth, though faced margin pressure with GAAP gross margin declining to 41% from 43%. The wholesale business maintained over 20% year-over-year growth, while retail transactions increased driven by same-store sales and new dispensaries. The company updated its 2024 guidance, projecting revenue growth of 6-8% and adjusted EBITDA decline of 18-20%. Notable operational developments include expanded cultivation facilities in Maryland and Illinois, and new dispensary openings in Maryland and Ohio.
InHouse, MariMed's value-priced cannabis brand, announces Help on the Homefront, a new initiative supporting veterans with housing challenges. The program will award $5,000 to selected veterans in Maryland, Massachusetts, Delaware, and Illinois to help with housing expenses or home improvements. Starting November 1, eligible veterans aged 21+ can enter online at inhousecannabis.com/veterans, with winners to be randomly selected after November 30. No purchase is necessary, and friends and family can submit entries on behalf of veterans.
MariMed Inc. (CSE: MRMD) has begun cannabis product manufacturing operations in Missouri, marking its expansion into a sixth state. The company plans to distribute its award-winning products statewide by the end of November, including Betty's Eddies™ fruit chews, Bubby's Baked™ confections, Vibations™ drink mixes, and InHouse™ branded products. The facility will operate under a Managed Services Agreement pending license transfer approval. MariMed now operates in Delaware, Illinois, Maryland, Massachusetts, Ohio, and Missouri.
MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) has commenced cultivation operations at its new facility in Mt. Vernon, Illinois. The company expects its first harvest in early 2025, when it will begin selling its Nature's Heritage flower and concentrates through retail and wholesale channels statewide. The Mt. Vernon facility also houses a processing kitchen, which started producing cannabis-infused products last December.
MariMed operates five Thrive dispensaries in Illinois, offering a range of products including Betty's Eddies fruit chews, Bubby's Baked soft-baked goods, Vibations hydrating drink mixes, and InHouse branded products. The company's CEO, Jon Levine, stated that this expansion strengthens MariMed's position in Illinois and supports their mission to deliver high-quality cannabis products to customers in the growing adult-use market.
MariMed Inc. (CSE: MRMD, OTCQX: MRMD), a leading multi-state cannabis operator, has announced the date for its third quarter 2024 earnings report. The company will release its financial results on November 6, 2024 after market close. Following the release, MariMed's management will host a conference call on November 7, 2024, at 8:00 a.m. EST to discuss the financial results.
Investors and interested parties can access the webcast through MariMed's Investor Relations website. For those unable to attend the live call, a playback will be made available on the same website. This announcement demonstrates MariMed's commitment to transparency and shareholder communication.
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.
FAQ
What is the current stock price of MARIMED (MRMD)?
What is the market cap of MARIMED (MRMD)?
What is MariMed Inc. known for?
What are MariMed Inc.'s core operations?
Who leads MariMed Inc.'s management team?
What products does MariMed Inc. offer?
How can one access MariMed Inc.'s products?
What recent acquisitions has MariMed Inc. made?
What significant development has MariMed Inc. celebrated in the cannabis industry?
What financial strength does MariMed Inc. demonstrate?
How does MariMed Inc. view the future of the cannabis industry?
Where can one get more information about MariMed Inc.?
