Press Release

Water Tower Research Publishes Initiation of Coverage Report on MariMed, Inc. Titled, “A Leading US Cannabis Company with a Strong Balance Sheet and Double-Digit Revenue Growth”

May 2, 2023, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on MariMed, Inc. (OTC: MRMD) titled, “A Leading US Cannabis Company with a Strong Balance Sheet and Double-Digit Revenue Growth”. The report can be accessed here.

MariMed is a US multi-state cannabis operator based in Norwood, Massachusetts. Founded in 2014, the company has rapidly established itself as a leader in the cannabis industry, with a diverse portfolio of cannabis-related businesses, including cultivation, manufacturing, distribution, and retail operations. MariMed operates dispensaries in Massachusetts, Maryland, Illinois, and Delaware.

MariMed operates state-of-the-art cultivation facilities that produce premium products. The company’s cultivation facilities are equipped with cutting-edge technology, including automated irrigation, climate control, and lighting systems that ensure the highest-quality output. MariMed’s manufacturing facilities utilize proprietary extraction methods to produce oils, tinctures, and edibles. It even has a GMP-certified kitchen in Maryland that allows it to produce higher-dose edibles.

The company produces high-quality products, has a strong balance sheet, and is led by an experienced team. As the cannabis industry continues to grow and evolve, MariMed is well-positioned financially and from a leadership perspective to capitalize on new opportunities and continue leading the industry forward.

MariMed trades at 1.08x 2023 sales and 4.5x 2023 adjusted EBITDA estimates, both of which are under the peer group averages. It is forecast to grow revenues at 14.27% annually over the next two years, which is 88% faster than the average for the top five US multi-state operators. Finally, even with the 280E tax burden, MariMed generated $12.3 million in after-tax operational cash flow, which is second to only Green Thumb Industries.

About Water Tower Research

Water Tower Research is modernizing Investor Relations through research-driven communications and Investor Engagement. Sound investment research begins with good information. At WTR, we help companies and investors connect by creating expert information flow and strategies that are the foundation of a successful modern investor relations platform. Our analysts and capital markets professionals bring decades of unrivaled Wall Street experience and insight to a new digital world of investor communications and engagement. Our research and investor content is distributed across traditional research aggregators like Bloomberg, FactSet, etc., proprietary direct distribution lists, social media, search engines, and our website. As a result, every institutional and retail investor has equal access to our high-quality company research. Our mission is to help companies take control of their IR program and proactively reach investors while bringing investors a consistent flow of quality information to help them understand our clients’ businesses, industries, and the investment opportunities they present.

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Contact Information:

Name: Water Tower Research LLC
Email: [email protected]
Job Title: WTR Investor Engagement

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