This Cannabis Stock Poised To Excel Even Without Federal Weed Reform, Posts Q3 Results
Portfolio Pulse from Jelena Martinovic
MariMed Inc. (MRMD) reported Q3 earnings with revenue of $38.8 million, a YoY increase of over 14%. The company's gross profit totaled $16.8 million, up from $16.1 million in the prior year’s period. However, net loss was $4.2 million, compared to the net income of $2.7 million in the prior year’s period. The company's guidance for full-year 2023 includes revenue of $148 million to $150 million and a gross margin of approximately 45%. MariMed’s shares traded 1.5625% lower at $0.315 per share at the time of writing on Thursday morning.
November 09, 2023 | 6:49 pm
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MariMed reported a YoY revenue increase of over 14% in Q3, but also a net loss of $4.2 million. The company's shares traded 1.5625% lower following the report.
MariMed's Q3 earnings report showed a significant YoY revenue increase, indicating strong business performance. However, the company also reported a net loss, which is a negative signal for investors. This could explain the drop in the company's share price following the report.
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IMPORTANCE 80
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