MARIMED INC
For the period ended Dec 31, 2024. Filed Mar 6, 2025.
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FY2024 · Filed Mar 6, 2025
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Consolidated Statements of Operations
(in thousands, except per share amounts)
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue | $157,964 | $148,598 |
| Cost of revenue | 95,096 | 82,679 |
| Gross profit | 62,868 | 65,919 |
| Operating expenses: | ||
| Personnel | 27,059 | 22,612 |
| Marketing and promotion | 6,664 | 5,977 |
| General and administrative | 25,618 | 22,132 |
| Acquisition-related and other | 951 | 695 |
| Bad debt (recoveries) | (336) | 118 |
| Total operating expenses | 59,956 | 51,534 |
| Income from operations | 2,912 | 14,385 |
| Interest and other (expense) income: | ||
| Interest expense | (6,944) | (9,185) |
| Interest income | 114 | 270 |
| Loss on extinguishment of debt | — | (10,431) |
| Other expense, net | (50) | (1,635) |
| Total interest and other expense, net | (6,880) | (20,981) |
| Loss before income taxes | (3,968) | (6,596) |
| Provision for income taxes | 8,159 | 9,411 |
| Net loss | (12,127) | (16,007) |
| Less: Net income attributable to noncontrolling interests | 37 | 24 |
| Net loss attributable to common stockholders | $(12,164) | $(16,031) |
| Net loss per share attributable to common stockholders: | ||
| Basic | $(0.03) | $(0.04) |
| Diluted | $(0.03) | $(0.04) |
| Weighted average common shares outstanding: | ||
| Basic | 379,153 | 363,403 |
| Diluted | 379,153 | 363,403 |
See accompanying notes to consolidated financial statements.
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