- MRMD improved its adjusted EBITDA in Q1 2019 by 76 percent
- The company’s multipronged strategy for growth includes continued consolidation of cannabis operations and the launch of a subsidiary
- MariMed CEO identified the company as a “significant early mover” in the burgeoning CBD health and wellness market
MariMed Inc. (OTCQB: MRMD) recorded a 69 percent jump in revenues to $3,515,815 for the three months ended March 31, 2019, as compared to $2,082,950 for the comparable period of the prior year. The company’s gross profit for the quarter rose 90 percent, to $2,261,025, from $1,194,081 for the same period in 2018. MRMD is actively pursuing additional growth as it moves to expand brand licensing and open more cannabis facilities in several states (http://nnw.fm/T9Tz2).
MRMD’s adjusted EBITDA increased 76 percent to $585,000 in Q1 2019, up from $332,000 in the comparable period of the prior year. Reported net loss for the same quarter was $23,211, marking a 99 percent improvement from the $1,895,142 loss reported in…
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