| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 41.93 | 6.2% | 5.9% |
| Total Income | 41.93 | 6.2% | 5.9% |
| Expenditure | 41.51 | 5.5% | 7.9% |
| PBT | -1.55 | 38.4% | 167.2% |
| Net Profit | -3.59 | 5.3% | 182.7% |
| OPM | 1.00% | 0.68pp | 1.88pp |
| NPM | -8.56% | 1.03pp | 5.36pp |
| EPS | -0.01 | 0.0% |
MariMed Reports Second Quarter 2026 Earnings
13 Aug 2026 · 13 Aug, 2:42 am
Summary
MariMed Inc. announced its financial results for the second quarter ended June 30, 2026, reporting its highest quarterly revenue in history. Both wholesale and retail revenues saw sequential and year-over-year increases, driven by operational discipline and product innovation. Despite a sequential increase in adjusted EBITDA, the metric was down year-over-year to $3.9 million, and the company reported a GAAP Net loss of $3.6 million for the quarter. Management expressed optimism about building on these results through their 'Expand the Brand' strategy and noted potential positive impacts from federal cannabis reform.
Key Highlights
- 1
MariMed reported its highest quarterly revenue in history for the second quarter ended June 30, 2026.
- 2
Revenue increased sequentially and year over year in both wholesale and retail businesses.
- 3
Non-GAAP Adjusted EBITDA for the second quarter was $3.9 million, a decrease from $4.8 million in the prior year's quarter.
- 4
GAAP Net loss for the three months ended June 30, 2026, was $3.6 million, compared to a net loss of $1.4 million in the same period of 2025.
- 5
Wholesale revenue increased 6% sequentially, with branded products growing 70 basis points faster than the broader industry.
- 6
Retail revenue increased 7% sequentially, with revenue increasing at 12 out of 13 Thrive Dispensary locations.
- 7
Adjusted gross margin held flat sequentially at 40%.
Management Comments
Jon Levine
The second quarter represented meaningful progress for MariMed. Revenue increased in both our wholesale and retail businesses sequentially and year over year, resulting in the highest quarterly revenue in our history. These results also reflect a substantial increase in sequential adjusted EBITDA and another quarter in which we generated positive cash flow from operations. Our stronger financial performance was driven by a continued focus on our priorities: operational discipline, product innovation and quality, customer experience and thoughtful capital allocation. Our balance sheet remains healthy, our brands keep resonating with consumers, and our operating model gives us the flexibility to respond quickly as markets and new opportunities evolve. Looking ahead, we will build on this quarter’s results by continuing to implement our ‘Expand the Brand’ growth strategy, centered on building a leading cannabis consumer packaged goods company that owns top-selling national brands in the most popular categories. To achieve that goal, we will keep investing in product innovation, while broadening our depth in existing states. We will also pursue opportunities to enter new markets through capital-light strategies, including brand licensing. Our innovation, brand portfolio, operating model, healthy balance sheet and tremendous team keep positioning us for long-term, sustainable value creation. We will also keep a close eye on the positive momentum behind additional Federal cannabis reform following this spring’s rescheduling of medical cannabis. The potential rescheduling of recreational cannabis, the implementation of 280E tax relief and broader banking reform are all catalysts that would improve the operating environment for our industry, and we are positioned to capitalize on these new opportunities if and when they emerge.
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