Cannabis Rescheduling Likely ‘In The Next 12 Months,’ Says MariMed CEO As Company Invests In Key Markets
Senior analyst Pablo Zuanic hosted a fireside chat Monday evening with Jon Levine, CEO of MariMed Inc. (OTC: MRMD) who outlined the company’s operations, growth strategies and financial outlook. The discussion provided insights into MariMed’s performance in key states as well as expansion plans and future projections, offering valuable information for cannabis investors.
Strong Q2 Results And Financial Projections
Levine noted MariMed’s robust performance in the second quarter of 2024, maintaining a year-over-year sales growth guidance of 5% to 7%. Despite industry-wide pressures, MariMed has achieved 11% year-to-date growth, driven by its wholesale business in Illinois, Maryland, and Massachusetts.
“Our revenue continues to outpace the industry, and we are on track to meet our guidance for the year and beyond,” Levine said.
MariMed’s focus on strategic growth has led to short-term pressure on margins and EBITDA. Levine explained that investments in new facilities, such as doubling the growth capacity in Maryland, will start yielding results later this year, contributing to long-term profitability.
Expansion Plans In Key Markets
MariMed is actively expanding its footprint in several states. …