MRMD - MariMed sets 2022 guidance ahead of consensus after Q2 topline beat

Norwood, Massachusetts-based cannabis company, MariMed (OTCQX:MRMD) posted better than expected revenue for Q4 2021 on Wednesday and projected guidance ahead of estimates for this year after its annual revenue more than doubled in 2021. Fourth-quarter revenue rose ~52% YoY to $31.0M as revenue from retail dispensary operations and wholesale sales increased ~89% YoY and ~5% from a year ago. respectively. While quarterly gross profits jumped ~33% YoY, the adj. EBITDA slipped ~7% YoY to $8.3M as operating expenses nearly quadrupled to $14.3M. Full-year revenue rose ~139% YoY to $121.5M as revenue from retail dispensary operations and wholesale sales increased ~177% YoY and ~151% from 2020, respectively. While gross profit more than doubled to $66.3M in 2021, adj. EBITDA jumped ~144% YoY to $43.1M. “Our strict financial discipline combined with our outstanding operations give us confidence we will meet or beat our full-year financial guidance once again in 2022,” Chief Financial Officer

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MariMed sets 2022 guidance ahead of consensus after Q2 topline beat