MariMed (OTCMKTS:MRMD) Posts Earnings Results, Hits Estimates

MariMed (OTCMKTS:MRMD) released its earnings results on Wednesday. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01), Zacks reports. MariMed had a negative return on equity of 5.00% and a negative net margin of 7.82%.The firm had revenue of $41.92 million during the quarter, compared to analysts’ expectations of $39.80 million.

MariMed Trading Down 8.0%

Shares of MRMD opened at $0.06 on Thursday. The firm has a market cap of $25.71 million, a P/E ratio of -2.14 and a beta of 1.33. MariMed has a 1 year low of $0.06 and a 1 year high of $0.23. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.34. The company has a 50 day simple moving average of $0.07 and a two-hundred day simple moving average of $0.08.

MariMed Company Profile

MariMed Inc is a multi‐state cannabis company focused on the development, ownership and operation of regulated facilities for the medical and adult‐use cannabis markets. Headquartered in New Bedford, Massachusetts, the company cultivates, processes and dispenses cannabis through an integrated business model that encompasses cultivation, formulation, manufacturing and retail operations. MariMed operates under its own licensed brands and through strategic partnerships to expand its presence across the United States.

The company’s product portfolio includes branded flower, pre‐rolls, vaporizer cartridges, tinctures, edibles and topicals designed to meet a range of consumer and patient needs.