MariMed Reports Second Quarter 2025 Earnings

Core Insights - MariMed Inc. reported financial results for Q2 2025, highlighting growth in operations and revenue, driven by its "Expand the Brand" strategy [1][2] - The company anticipates further growth through new market entries and expanded product distribution [2] Financial Performance - Q2 2025 revenue was $39.6 million, a slight decrease from $40.4 million in Q2 2024 [3] - GAAP gross margin for Q2 2025 was 40%, down from 42% in Q2 2024, while non-GAAP gross margin remained stable at 42% [3] - The company reported a GAAP net loss of $1.3 million for Q2 2025, compared to a loss of $1.6 million in Q2 2024 [3] - Non-GAAP adjusted EBITDA for Q2 2025 was $4.9 million, an increase from $4.4 million in Q2 2024, with an adjusted EBITDA margin of 12% [3] Operational Highlights - The company expanded its product offerings and market presence, including the launch of new products and entry into Pennsylvania [5][9] - MariMed's retail and wholesale revenues showed sequential growth, reflecting strong execution in key markets [2][5] Strategic Initiatives - The management emphasized the importance of brand leverage as a growth engine and highlighted plans for adult-use sales in Delaware and a new licensing agreement in Maine [2][5] - The company is exploring M&A and licensing opportunities, supported by a strong balance sheet [2][5] Cash Flow and Balance Sheet - Cash and cash equivalents at the end of Q2 2025 were $6.1 million, down from $7.3 million at the end of 2024 [19][22] - Total assets decreased to $204.4 million from $207.0 million at the end of 2024, while total liabilities increased to $131.2 million [19][20]