Quarterly ResultMay 13, 2026, 05:16 PM
MariMed Q1 Revenue $39.5M, Adj. EBITDA $3.6M; Net Loss Narrows
AI Summary
MariMed Inc. reported its first-quarter 2026 financial results, showing a revenue increase to $39.5 million from $37.9 million year-over-year. The company significantly improved its GAAP net loss to $3.8 million from $5.5 million and saw a substantial rise in Non-GAAP Adjusted EBITDA to $3.6 million from $2.5 million. Management highlighted continued year-over-year growth, expanded distribution, and disciplined operational execution, alongside a strategic restructuring of Series B Convertible Preferred Stock to enhance liquidity and eliminate near-term refinancing risk.
Key Highlights
- Revenue increased 4.2% to $39.5 million for Q1 2026, up from $37.9 million in Q1 2025.
- Non-GAAP Adjusted EBITDA rose 44% to $3.6 million in Q1 2026, compared to $2.5 million in Q1 2025.
- GAAP Net loss improved to $(3.8) million in Q1 2026 from $(5.5) million in Q1 2025.
- Non-GAAP Adjusted EBITDA margin expanded to 9% in Q1 2026 from 7% in Q1 2025.
- Retail product sales grew to $21.7 million in Q1 2026 from $20.7 million in Q1 2025.
- Wholesale product sales increased to $17.5 million in Q1 2026 from $16.8 million in Q1 2025.
- Completed a Restructuring and Exchange Agreement for $14.725 million Series B Preferred Stock, extending maturity to 4.6 years.