Cannabis operator MariMed Q1 revenue rises, adjusted EBITDA improves
MARIMED INC MRMD | 0.00 |
Overview
U.S. cannabis operator's Q1 revenue rose 4% yr/yr to $39.5 mln
Adjusted EBITDA increased to $3.6 mln from $2.5 mln a year earlier
Company restructured Series B preferred stock, extending maturity and enhancing liquidity
Outlook
Company did not provide specific financial guidance for future quarters or the full year
Result Drivers
WHOLESALE AND RETAIL GROWTH - Co said revenue growth was supported by expanded wholesale distribution and retail growth
BRAND EXECUTION - Co said continued execution of its Expand the Brand strategy contributed to results
OPERATIONAL DISCIPLINE - Co cited disciplined operational execution and focus on efficiency and liquidity
Company press release: ID:nGNX7Zy5qR
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Revenue |
Beat |
$39.50 mln |
$38.75 mln (2 Analysts) |
Q1 Adjusted Net Income |
Beat |
-$3.20 mln |
-$3.73 mln (2 Analysts) |
Q1 Net Income |
|
-$3.80 mln |
|
Q1 Adjusted EBITDA |
Miss |
$3.60 mln |
$4 mln (1 Analyst) |
Q1 Gross Margin |
|
39% |
|
Q1 Adjusted EBITDA Margin |
|
9% |
|
Q1 Adjusted Gross Margin |
|
40% |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "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 is $0.17, about 98.8% above its May 12 closing price of $0.08
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