Investors who may be interested in the cannabis sector could do well to keep a close eye on the MariMed Inc. (CSE: MRMD) (OTC: MRMD) stock this morning. Yesterday, the multi-state cannabis operating company was in sharp focus after it announced its financial results for the fourth fiscal quarter and the earnings for the full 2024 fiscal year.
The Highlights
The unaudited revenues for the fourth fiscal quarter were $39 million, which reflected a marginal improvement on the $38.9 million in revenues generated in the prior year period. The GAAP net loss narrowed to $8.2 million on a year-on-year basis from $10.1 million. In the 2024 fiscal year, MariMed generated revenues of $158 million, which reflected a strong improvement on the $148.6 million in revenues in the previous fiscal year. The GAAP net losses for the fiscal year were $12.1 million, which reflected an improvement on the $16 million net loss in 2023.
Further Information
In the news release, MariMed noted that there was excitement about the record revenues that it had posted in the fiscal year. The company reiterated its belief that it boasted one of the strongest cannabis brand portfolios in the United States.
CFO Quote
MariMed CFO Mario Pinho commented, ”MariMed continues to maintain one of the strongest balance sheets in the cannabis industry, and we are pleased to report that we successfully achieved our revised 2024 financial guidance for revenue growth and adjusted EBITDA. Looking ahead, we are well positioned to leverage our brands and talent to drive continued top-line growth and further enhance profitability in 2025. As we navigate the evolving industry landscape, we remain focused on executing our strategy of delivering the best brands to our customers and delivering long-term value to our shareholders.”
Fundamentals
| P/E Ratio | -3.0700 |
| PEG Ratio | -0.01 |
| Price to Book | 0.63 |
| Price to Cash Flow | 6.27521 |
| Price to Free Cash Flow | – |
| Total Sales (TTM) | 157.86 M |
| Revenue per Share (TTM) | 0.41 |
| Shares Outstanding | 381.306 M |
| Share Float (%) | 342.52 M (89.83%) |
| % Held by Institutions | 0.17 |
