Overview

* MariMed ( MRMD ) Q3 revenue misses analyst expectations, adjusted EBITDA also missed estimates

* Company reports sequential growth in wholesale and retail revenues for Q3

* MariMed ( MRMD ) expands brand distribution to Maine, Pennsylvania, and New York

Outlook

* Company anticipates distribution in Pennsylvania and New York to begin in 2026

* MariMed ( MRMD ) plans to launch hemp-derived THC products in Rhode Island by early 2026

Result Drivers

* WHOLESALE EXPANSION - Sequential growth in wholesale revenues driven by expansion in Massachusetts and Illinois

* NEW MARKET ENTRY - Expansion into Maine, Pennsylvania, and New York as part of strategic growth plan

* COST MANAGEMENT - Improved profitability through disciplined cost management and operational efficiencies

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $40.80 $42.40

Revenue mln mln (3

Analysts

)

Q3 Slight -$1.50 -$1.49

Adjusted Miss* mln mln (2

Net loss Analysts

)

Q3 GAAP -$2.90

Net loss mln

Q3 Miss $5.10 $5.89

Adjusted mln mln (3

EBITDA Analysts

)

Q3 Gross 40.00%

Margin

Q3 13.00%

Adjusted

EBITDA

Margin

Q3 41.00%

Adjusted

Gross

Margin

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the drug retailers peer group is "buy"

* Wall Street's median 12-month price target for MariMed Inc ( MRMD ) is $0.23, about 53.8% above its November 4 closing price of $0.10

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)