MariMed Inc. (CSE: MRMD) (OTCQX: MRMD) reported its third-quarter earnings report on Thursday for the three months ended Sept. 30, 2023.
Touted as undervalued when compared to its multi-state operator (MSO) peer by cannabis expert Pablo Zuanic, senior analyst at Zuanic & Associates, MariMed is on track to become a top 10 MSO by 2025.
During the quarter, the company's revenue increased to $38.8 million representing a year-over-year increase of over 14% – a testament to its strong operations in Illinois, Massachusetts, Maryland and Ohio. Upcoming operations are expected in Missouri and Delaware.
Zuanic said on initiating the coverage of the company recently that MariMed maintains strong gross margins, high SGA efficiency and competitive EBITDA margins and that its ability to generate positive operating cash flow sets it apart from many of its peers.
Q3 Financial Highlights
- Gross profit totaled …