Massachusetts-based marijuana multistate operator MariMed reported a record year for revenue growth and a net loss in its full-year and fourth-quarter earnings report.
MariMed’s 2023 revenue grew by nearly 11% to $148.6 million, up from $134 million the previous year, driven in large part by wholesale growth, according to CEO Jon Levine.
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“We had a record year with respect to revenue generation, particularly in wholesale, new asset openings, and leveraging our balance sheet strength to secure capital,” Levine said in a statement.
The company turned a profit of $13.6 million in 2022 and reported a net loss of $16 million for 2023.
For the fourth quarter ending Dec. 31, MariMed reported a net loss of $10.1 million and revenue of $38.9 million.
Revenue
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