World News: 13:30 GMT Wednesday 17th April 2019. [MariMed Inc via Globe Newswire via SPi World News]
NORWOOD, April 17, 2019 (GLOBE NEWSWIRE) -- – (OTCQB: MRMD) one of the largest multi-state cannabis and hemp operators in the U.S., today announced 2018 4 Quarter and Full Year results.
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.
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 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:
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
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 Search MariMed and post on social media with the hash tag #MedicatedByMarimed:
Globe Newswire: 13:30 GMT Wednesday 17th April 2019
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.