• 🌎 Worldwide
    • 🇺🇸 U.S.
    • 🇨🇦 Canada
    • 🇬🇧 United Kingdom
    • 🌏 Asia
    • 🌍 Europe
    • 🌎 Latin America
    • 🌏 Oceania and Australasia
The Daily Marijuana Observer
SUBSCRIBE
  • Home
  • Latest
  • Business
  • Investments
  • Law
  • People
  • Health
  • Databases
No Result
View All Result
The Daily Marijuana Observer
  • Home
  • Latest
  • Business
  • Investments
  • Law
  • People
  • Health
  • Databases
No Result
View All Result
The Daily Marijuana Observer
No Result
View All Result
Home Investments

MariMed, Inc. Reports 2018 Fourth Quarter and Year End Results; Strong Revenue and EBITDA Growth

Globe Newswire by Globe Newswire
April 17, 2019
in Investments, Marijuana Stocks, Press Releases
Cannabis Stock Earnings News

Photo by Pixabay on Pexels.com

45
SHARES
ShareShare

NORWOOD, April 17, 2019 (GLOBE NEWSWIRE) —  – MariMed Inc.(OTCQB: MRMD) one of the largest multi-state cannabis and hemp operators in the U.S., today announced 2018 4th Quarter and Full Year results.

Continued Strong Revenue Growth – In the fourth quarter ended December 31, 2018, revenues grew 118% to $3.44 million, compared to $1.58 million in 2017.

For the full year 2018, revenues grew to $11.85 million, up 95% over $6.07 million reported for 2017; Adjusted EBITDA grew 53% to $2.4M.

Reported net loss for the year of $13.6 million was the result of non-cash amortization relating to equity compensation granted during the year ($13.97 million). Loss per share was $0.71 for the full year.

Financial strength and improved operational cash flow – At year end, MariMed’s balance sheet was considerably stronger year over year; cash and current assets more than tripled during 2018, partially as a result of capital raised during the year, and total debt to equity improved to .34 from 1.93 at the end of FY2017. Net cash from operations grew 78% to $3.6 million.

MariMed CEO Bob Fireman noted, “We are encouraged that the Company maintained its strong operating performance and dynamic growth. We made a series of key investments to leverage opportunities we see for the years ahead, from branding and marketing to a major investment in GenCanna Global, perhaps the world’s leader in industrial hemp genetics and production. Demand for cannabis and CBD products is driven by consumers’ recognition of the health and wellness benefits available from the compounds found in cannabis and hemp for a growing variety of conditions. We expect to continue to enhance shareholder value in this exciting segment of our industry.”

Additional achievements of FY 2018 include:

Consolidation of Client Licenses – In 2018, MariMed began a process to consolidate the ownership of its clients’ licensed cannabis businesses in seven states, which MariMed developed and continues to manage. The Company anticipates completing this process by fiscal year 2020. As consolidations are completed on a state by state basis, total revenues of these operations will be reflected in the Company’s reported results.

Strategic Acquisitions and Investments – MariMed completed several strategic transactions that it believes will enhance its vertical integration, competitive position and long-term profitability:

  • Marketing, CRM and Data – In August 2018, the Company made a strategic investment in Sprout, a company that provides a customer relationship management and marketing platform specifically designed for companies in the cannabis industry. The Company will help market Sprout to companies within the cannabis industry.
  • Technology and New Products – In December 2018, the Company made a strategic investment in Iconic Ventures Inc. based upon their new product DabTabs™ and other technology under development. MariMed secured the exclusive distribution rights in multiple states.
  • Hemp-based CBD – In November 2018, MariMed made a $30 million investment in GenCanna Global USA Inc. Based in Kentucky, GenCanna is a global innovator in hemp genetics, and with MariMed support will be one of the largest US producers of CBD derived from hemp. MariMed has established a new division, MariMed Hemp which will develop CBD brands and products, as well as pursue other high-margin business opportunities, as the hemp CBD industry separates from the cannabis industry.

MariMed CEO Bob Fireman concluded, “Our ongoing consolidation and these strategic investments position us for continued growth, geographic expansion, and brand development. We look forward to continuing rapid growth in the coming year.”

MariMed’s 10-K SEC filing is available at www.SEC.gov

A photo accompanying this announcement is available at “Quarterly Revenue Growth“

About MariMed Inc.

MariMed, Inc. is dedicated to improving health and wellness with the highest quality hemp and cannabis products. The company offers a full range of cannabis products, operates state of the art cannabis dispensaries in six states, and has recently announced the formation of a separate division, MariMed Hemp is focused on the development of industrial hemp-derived CBD products. MariMed owns a significant stake in Kentucky-based GenCanna, a recognized genetic innovator in industrial hemp, and recently acquired MediTaurus, a purveyor of high-quality CBD wellness products in the US and Europe under the Florance™ brand. Across its branded products, MariMed is in the forefront of precision dosed products for the treatment of specific medical symptoms. MariMed currently distributes its branded hemp and CBD products in select states and is expanding licensing and distribution to numerous additional markets encompassing thousands of dispensaries, pharmacies and wholesalers.

For additional information, visit www.MariMedAdvisors.com. Search MariMed and post on social media with the hash tag #MedicatedByMarimed:

Twitter: @MariMedInc   Facebook: @MariMedInc Instagram: MariMedInc YouTube: MariMedInc

Forward Looking Statements:
This release contains certain forward-looking statements and information relating to MariMed Inc. that is based on the beliefs of MariMed Inc.’s management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement and changes in the economic environment. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “planned, “estimated,” “preparing,” “potential,” “expected,” “looks” or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.

Share this:

  • Click to email this to a friend (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pocket (Opens in new window)
Tags: earnings announcementsMariMed Inc.OTC:MRMD

Get Real-Time Updates from MJobserver.com

Unsubscribe
Globe Newswire

Globe Newswire

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Related Posts

Amended: Naturally Splendid Closes Private Placement and Secures Laboratory Facility
Investments

MediPharm Labs Reports Fourth Quarter and Full Year 2020 Results

March 31, 2021
Cannabis News - Marijuana Becomes Legal in Michigan Starting December 6th
Investments

Acreage Announces Fourth Quarter And Full Year 2020 Earnings Date

February 8, 2021
Cannabis Stock Earnings News
Briefs

Grapefruit USA, Inc. Announces Preliminary Revenue Growth of 714% for Calendar Year 2020 Over Calendar Year 2019

February 8, 2021
Khiron Life Sciences Corp KHRN KHRNF Cannabis Stock News
Press Releases

Khiron Announces Live Webcast and Upcoming Investor Events

February 4, 2021
Cannabis Stock News
Investments

MariMed’s CEO to Participate in Fireside Chat at the Benzinga Virtual Cannabis Capital Conference on October 15th

October 14, 2020
Middleborough Massachusetts Cannabis News
Massachusetts

MariMed To Commence Adult-Use Operations at Panacea Wellness Dispensary in Middleborough, Massachusetts

September 14, 2020
Load More
Next Post
Cresco Labs Welcomes Additions to Senior Leadership Team – Crisis-Proven, with the Depth and Experience to Drive Growth at Scale

Blueberries Medical Appoints Former Abbott Laboratories/AbbVie Pharmaceutical Executive Eduardo Molinari as Chief Marketing Officer

Leave a Comment! Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

🚨 Subscribe to Stock Alerts

Get Live Updates on Breaking News

Subscribe Now

✉️ Subscribe to Our Newsletter!

* indicates required

🔎 Search Marijuana Stocks

📰 Recent News

  • Is Medterra a Publicly-Traded Company?
  • Skye Bioscience to Present at Upcoming Investment Conferences in April
  • What Is Hash And Why Is It Making A Comeback?
  • Verano Upgraded to OTCQX Best Market
  • Green Thumb Industries Announces Launch of Leading Cannabis-Infused Social Tonic Brand Cann in Illinois Ahead of 4/20 Cannabis Holiday
Facebook Twitter Instagram LinkedIn Youtube

Cannabis News by Region

  • 🇺🇸 United States
  • 🇨🇦 Canada
  • 🇬🇧 United Kingdom
  • 🌏 Asia
  • 🌍 Europe
  • 🌎 Latin America
  • 🌏 Oceania and Australasia

Cannabis Tools & Resources

  • 📅 Calendar
  • 📊 Databases
  • 📇 Directories
  • 🔔 RSS Feeds
  • 📺 Videos

Find Cannabis Business Services

  • ⚖️ Attorneys & Law Firms
  • 📊 Accountants & Accounting Firms
  • 💡 Consultants & Consulting Firms
  • 📲 Marketing Agencies & Firms

The Daily Marijuana Observer

  • Subscribe
  • About MJobserver.com
  • Affiliate Marketing Disclosure
  • Legal Disclaimer
  • Privacy Policy
  • Contact Us

Advertise with Us

  • 👀 Advertise
  • 📣 DMO Newswire
  • 📇 List in Our Databases

© 2018 - 2021 D.M.O. Holdings Corp.
DISCLAIMER: DMO Holdings Corp., which owns The Daily Marijuana Observer™ (MJobserver.com), is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. DMO Holdings Corp., which owns MJobserver.com, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. DMO Holdings Corp. or its affiliates, which owns MJobserver.com, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two.

No Result
View All Result
  • Home
  • Latest
  • 🔒 PRO
    • 🔒 A.M. Watchlist
    • 🔒 Analyst Action
  • 💼 Business
  • 📈 Investments
    • 📈 Stocks
    • 💰 ETFs and Funds
    • 💭 Market Commentary
    • 📰 Press Releases
    • 📅 Earnings Calendar
  • ⚖️ Law
    • Laws
    • Politics
    • Intellectual Property
    • Attorneys & Law Firms Database
  • 👥 People
    • ⚽ Athletes
    • 💼 Executives
    • 🌟 Celebrities
    • 🛒 Consumers
    • ⚕️ Doctors
    • 💊 Patients
  • 💊 Health
  • 📇 Databases
    • 📈 Stock Databases
    • 💰 Fund Databases
    • 💼 Service Providers Databases
    • 🏦 Marijuana Stock Brokers
    • 💲 Marijuana Cryptocurrencies

© 2018 - 2021 D.M.O. Holdings Corp.
DISCLAIMER: DMO Holdings Corp., which owns The Daily Marijuana Observer™ (MJobserver.com), is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. DMO Holdings Corp., which owns MJobserver.com, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. DMO Holdings Corp. or its affiliates, which owns MJobserver.com, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.