Marimed Inc Up 0.54% To $0.24 After Earnings Beat

Marimed Inc (MRMD) said after close Wednesday that it earned $0.004 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $38.9 million, beating estimates by $99 thousand.

In the same quarter a year ago, the company earned $0.01 per share on revenue of $35.8 million.

The stock is up 0.54% to $0.24 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 10.

MariMed Inc offers turnkey solutions to cannabis cultivators, producers, and dispensaries. It advises its clients in securing cannabis licenses, and in turn, develops and manages, regulatory-compliant facilities for the cultivation, production, and dispensary of legal cannabis. The company also has created a brand of precision-dosed cannabis-infused products, under the brand name Kalm Fusion which are licensed and distributed nationally. It has approximately five active and fully operational facilities in Delaware, Illinois, and Nevada and three facilities under stages of acquisition in Maryland. It has two segments online portal operations and cannabis operations. Maximum revenue is generated from cannabis segment.