MRMD on OTC
MARIMED INC.
American medicinal chemicals and botanical products company. Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerMRMD on OTC1
- IndustryMedicinal Chemicals & Botanical Products1
- HeadquartersNorwood, Massachusetts1
- Incorporated inDE2
- Business address10 Oceana Way, 2Nd Floor, Norwood, Ma 020622
- Filer category, Emerging growth company2
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Unless expressly indicated or the context requires otherwise, the terms "MariMed", "company", "we", "us", "our", and "Company" in this document refer to MariMed Inc., a Delaware corporation, and, where appropriate, its subsidiaries.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
36.2%Gross margin4
-1.8%Operating margin4
-9.1%Net margin4
1.3%Revenue growth, 20254
-29.0%Return on equity4
1.52×Debt to equity4
$6.5MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product Sales brought in 56% of the revenue MARIMED INC. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Product Sales | $91.3M | $89.0M |
| Product Sales - Wholesale | $62.9M | $69.6M |
| Other | $3.5M | $1.2M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue64¢$101.9M
- Other costs34¢$54.3M
- Income tax2¢$3.6M
Out of $159.8M in revenue.4 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending15¢$1.2M
- Kept or used elsewhere85¢$6.5M
Out of $7.7M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenue | $159.8M | $157.7M |
| Cost of revenue | $101.9M | $95.1M |
| Gross profit | $57.9M | $62.6M |
| Personnel | $28.5M | $27.1M |
| Marketing and promotion | $4.0M | $6.7M |
| General and administrative | $26.1M | $25.6M |
| Acquisition-related and other | $486.0K | $951.0K |
| Bad debt expense (income) | $1.6M | -$336.0K |
| Total operating expenses | $60.7M | $60.0M |
| (Loss) income from operations | -$2.8M | $2.6M |
| Interest expense | -$7.5M | -$6.9M |
| Interest income | $177.0K | $114.0K |
| Other expense, net | -$717.0K | -$50.0K |
| Total interest and other expense, net | -$8.0M | -$6.9M |
| Loss before income taxes | -$10.9M | -$4.3M |
| Provision for income taxes | $3.6M | $8.2M |
| Net loss | -$14.5M | -$12.4M |
| Less: Net income attributable to noncontrolling interests | $28.0K | $37.0K |
| Net loss attributable to common stockholders | -$14.5M | -$12.5M |
| Basic (in dollars per share) | -$0.04 | -$0.03 |
| Diluted (in dollars per share) | -$0.04 | -$0.03 |
| Basic (in shares) | 390.1M shares | 379.2M shares |
| Diluted (in shares) | 390.1M shares | 379.2M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash, cash equivalents and restricted cash | $8.9M | $7.3M | |
| Accounts receivable, net | $9.1M | $8.7M | |
| Inventory | $36.6M | $33.5M | |
| Deferred rents receivable | $0 | $556.0K | |
| Notes receivable, current portion | $866.0K | $52.0K | |
| Other current assets | $3.8M | $3.4M | |
| Total current assets | $59.3M | $53.5M | |
| Property and equipment, net | $89.4M | $94.2M | |
| Intangible assets, net | $17.2M | $18.6M | |
| Goodwill | $24.0M | $15.8M | $12.0M |
| Notes receivable, net of current portion | $0 | $840.0K | |
| Operating lease right-of-use assets | $7.7M | $8.7M | |
| Finance lease right-of-use assets | $4.0M | $4.1M | |
| Other assets | $931.0K | $11.2M | |
| Total assets | $202.6M | $207.0M | |
| Mortgages and notes payable, current portion | $2.6M | $5.1M | |
| Accounts payable | $14.6M | $13.2M | |
| Accrued expenses and other | $9.5M | $4.4M | |
| Deferred revenue | $1.4M | $1.3M | |
| Income taxes payable | $27.0M | $21.9M | |
| Operating lease liabilities, current portion | $2.0M | $2.0M | |
| Finance lease liabilities, current portion | $2.1M | $2.0M | |
| Total current liabilities | $59.1M | $50.0M | |
| Mortgages and notes payable, net of current portion | $70.2M | $69.9M | |
| Operating lease liabilities, net of current portion | $6.6M | $7.5M | |
| Finance lease liabilities, net of current portion | $2.0M | $1.9M | |
| Other liabilities | $0 | $100.0K | |
| Total liabilities | $137.8M | $129.4M | |
| Total mezzanine equity | $14.7M | $19.0M | |
| Undesignated preferred stock, $0.001 par value; 32,659,235 shares authorized; zero shares issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | |
| Common stock, $0.001 par value; 700,000,000 shares authorized; 396,911,368 and 381,476,581 shares issued and outstanding at December 31, 2025 and 2024, respectively | $397.0K | $381.0K | |
| Additional paid-in capital | $179.4M | $173.4M | |
| Accumulated deficit | -$127.9M | -$113.4M | |
| Noncontrolling interests | -$1.9M | -$1.8M | |
| Total stockholders equity | $50.0M | $58.5M | $68.9M |
| Total liabilities, mezzanine equity, and stockholders equity | $202.6M | $207.0M | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, authorized (in shares) | 32.7M shares | 32.7M shares | |
| Preferred stock, issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, authorized (in shares) | 700.0M shares | 700.0M shares | |
| Common stock, issued (in shares) | 396.9M shares | 381.5M shares | |
| Common stock, outstanding (in shares) | 396.9M shares | 381.5M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash, cash equivalents and restricted cash | $8.9M | $7.3M | |
| Accounts receivable, net | $9.1M | $8.7M | |
| Inventory | $36.6M | $33.5M | |
| Deferred rents receivable | $0 | $556.0K | |
| Notes receivable, current portion | $866.0K | $52.0K | |
| Other current assets | $3.8M | $3.4M | |
| Total current assets | $59.3M | $53.5M | |
| Property and equipment, net | $89.4M | $94.2M | |
| Intangible assets, net | $17.2M | $18.6M | |
| Goodwill | $24.0M | $15.8M | $12.0M |
| Notes receivable, net of current portion | $0 | $840.0K | |
| Operating lease right-of-use assets | $7.7M | $8.7M | |
| Finance lease right-of-use assets | $4.0M | $4.1M | |
| Other assets | $931.0K | $11.2M | |
| Total assets | $202.6M | $207.0M | |
| Mortgages and notes payable, current portion | $2.6M | $5.1M | |
| Accounts payable | $14.6M | $13.2M | |
| Accrued expenses and other | $9.5M | $4.4M | |
| Deferred revenue | $1.4M | $1.3M | |
| Income taxes payable | $27.0M | $21.9M | |
| Operating lease liabilities, current portion | $2.0M | $2.0M | |
| Finance lease liabilities, current portion | $2.1M | $2.0M | |
| Total current liabilities | $59.1M | $50.0M | |
| Mortgages and notes payable, net of current portion | $70.2M | $69.9M | |
| Operating lease liabilities, net of current portion | $6.6M | $7.5M | |
| Finance lease liabilities, net of current portion | $2.0M | $1.9M | |
| Other liabilities | $0 | $100.0K | |
| Total liabilities | $137.8M | $129.4M | |
| Total mezzanine equity | $14.7M | $19.0M | |
| Undesignated preferred stock, $0.001 par value; 32,659,235 shares authorized; zero shares issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | |
| Common stock, $0.001 par value; 700,000,000 shares authorized; 396,911,368 and 381,476,581 shares issued and outstanding at December 31, 2025 and 2024, respectively | $397.0K | $381.0K | |
| Additional paid-in capital | $179.4M | $173.4M | |
| Accumulated deficit | -$127.9M | -$113.4M | |
| Noncontrolling interests | -$1.9M | -$1.8M | |
| Total stockholders equity | $50.0M | $58.5M | $68.9M |
| Total liabilities, mezzanine equity, and stockholders equity | $202.6M | $207.0M | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, authorized (in shares) | 32.7M shares | 32.7M shares | |
| Preferred stock, issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, authorized (in shares) | 700.0M shares | 700.0M shares | |
| Common stock, issued (in shares) | 396.9M shares | 381.5M shares | |
| Common stock, outstanding (in shares) | 396.9M shares | 381.5M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss attributable to common stockholders | -$14.5M | -$12.5M |
| Net income attributable to noncontrolling interests | $28.0K | $37.0K |
| Depreciation and amortization of property and equipment | $8.1M | $7.9M |
| Amortization of intangible assets | $3.4M | $2.9M |
| Stock-based compensation | $1.9M | $1.1M |
| Amortization of warrants issued as payment for services received | $0 | $218.0K |
| Amortization of debt discount | $459.0K | $358.0K |
| Amortization of debt issuance costs | $73.0K | $73.0K |
| Payment-in-kind interest | $30.0K | $104.0K |
| Bad debt expense (income) | $1.6M | -$336.0K |
| Obligations settled with common stock | $3.0K | $10.0K |
| Loss on disposal of assets | $834.0K | $13.0K |
| Loss on changes in fair value of investments | $0 | $145.0K |
| Accounts receivable, net | -$429.0K | -$1.2M |
| Inventory | -$6.0K | -$8.2M |
| Deferred rents receivable | $12.0K | $74.0K |
| Other current assets | $1.0M | $883.0K |
| Other assets | -$2.6M | $1.4M |
| Accounts payable | $841.0K | $4.2M |
| Accrued expenses and other | $3.2M | $1.8M |
| Deferred revenue | $65.0K | $303.0K |
| Income taxes payable | $3.7M | $7.5M |
| Net cash provided by operating activities | $7.7M | $6.8M |
| Purchases of property and equipment | -$1.2M | -$12.0M |
| Business acquisitions, net of cash acquired | $231.0K | -$4.2M |
| Advances toward future business acquisitions | -$50.0K | -$100.0K |
| Purchases and renewals of cannabis licenses | -$465.0K | -$712.0K |
| Proceeds from notes receivable | $26.0K | $50.0K |
| Return on investment | $0 | $44.0K |
| Proceeds from disposal of assets | $45.0K | $22.0K |
| Due from third party | $0 | -$227.0K |
| Net cash used in investing activities | -$1.4M | -$17.1M |
| Proceeds from Construction to Permanent Commercial Real Estate Mortgage Loan | $0 | $5.1M |
| Proceeds from mortgages | $2.0M | $1.2M |
| Payment of third-party debt issuance costs in connection with debt | -$9.0K | $0 |
| Principal payments of mortgages | -$1.5M | -$382.0K |
| Repayment and retirement of mortgages | -$689.0K | $0 |
| Principal payments of promissory notes | -$3.1M | -$1.2M |
| Principal payments of finance leases | -$1.3M | -$1.6M |
| Distributions | -$137.0K | -$139.0K |
| Net cash (used in) provided by financing activities | -$4.7M | $3.0M |
| Net increase (decrease) to cash, cash equivalents and restricted cash | $1.6M | -$7.4M |
| Cash paid for interest | $6.9M | $6.7M |
| Cash (refunded) paid for income taxes, net | -$713.0K | $705.0K |
| Common stock issued to purchase property and equipment | $0 | $396.0K |
| Present value of promissory notes issued as purchase consideration | $0 | $3.0M |
| Entry into new finance leases | $1.3M | $2.9M |
| Write-off of finance leases | $0 | $1.1M |
| Common stock issued as purchase consideration | $0 | $991.0K |
| Notes payable issued to purchase property and equipment | $447.0K | $0 |
| Common stock issued under licensing agreement | $0 | $10.0K |
| Conversion of preferred stock to common stock | $4.3M | $0 |
| Return of common stock to the Company in connection with withholding taxes | $83.0K | $41.0K |
| Adjustment to purchase price allocation to reclassify certain acquired intangible assets to goodwill | $0 | $3.8M |
No quarter-by-quarter statement was filed.
Leadership
Who has led MARIMED INC., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
201520202025
- Chief executive officerRobert N. Fireman Nov 25, 2019 to Oct 31, 202213
- PresidentRobert N. Fireman Nov 25, 2019 to Oct 31, 202213
- Chief financial officerMario Pinho Aug 15, 2024 to now14
- Chief financial officerSusan M. Villare May 18, 2022 to Mar 14, 202315
Board members and other officers (8)
- Chief Commercial OfficerRyan Crandall Apr 14, 2025 to now16
- Board memberKathleen Tucker Apr 19, 2023 to now17
- Board memberDavid R. Allen Jun 28, 2019 to now18
- Board memberEva M.d. Selhub Oct 1, 2019 to now19
- Board memberThomas Kidrin Feb 1, 2018 to May 3, 201920
- Board memberEdward J. Gildea Feb 15, 2017 to now21
- Board memberJay Coleman Aug 19, 2011 to Aug 19, 201122
- Board memberRobert N. Fireman Aug 19, 2011 to Oct 31, 202223
Former names
- WORLDS ONLINE INC.Jun 9, 2011 to May 15, 20172
Timeline
- Nov 25, 2019New chief executive Robert N. Fireman becomes CEO13
Filings
226 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 39 major events, 154 insider forms, 12 other. The latest 20:
- Oct 15, 20264 EDGAR
- Oct 15, 20264 EDGAR
- Oct 15, 20264 EDGAR
- Oct 15, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Sep 28, 20264 EDGAR
- Sep 23, 20268-K EDGAR
- Sep 22, 2026DEF 14A EDGAR
- Sep 11, 2026PRE 14A EDGAR
- Sep 1, 20264 EDGAR
- Aug 13, 202610-Q EDGAR
- Aug 12, 20268-K EDGAR
- Jul 17, 20264 EDGAR
- Jul 17, 20264 EDGAR
- Jul 17, 20264 EDGAR
- Jul 17, 20264 EDGAR
- Jul 17, 20264 EDGAR
- Jul 17, 20264 EDGAR
- Jul 17, 20264 EDGAR
The 226 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
11 open-market trades by officers, directors and large owners since October 2021: 3 buys and 8 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 22, 2026 | Levine Jon RPresident and CEO | Buy | 60,000 | $0.08 | $4.6K | Form 4 |
| May 20, 2026 | Levine Jon RPresident and CEO | Buy | 40,000 | $0.08 | $3.2K | Form 4 |
| Dec 12, 2025 | Shaw TimothyChief Operating Officer | Buy | 45,455 | $0.11 | $5.0K | Form 4 |
| Apr 29, 2024 | Shaw TimothyChief Operating Officer | Sale | 40,205 | $0.26 | $10.5K | Form 4 |
| Apr 29, 2024 | Levine Jon RPresident and CEO | Sale | 50,031 | $0.26 | $13.0K | Form 4 |
| Mar 7, 2024 | Shaw TimothyChief Operating Officer | Sale | 15,348 | $0.23 | $3.5K | Form 4 |
| Mar 7, 2024 | Levine Jon RPresident and CEO | Sale | 16,529 | $0.23 | $3.8K | Form 4 |
| Oct 27, 2023 | Levine Jon RPresident and CEO | Sale | 41,590 | $0.32 | $13.3K | Form 4 |
| Oct 27, 2023 | Shaw TimothyChief Operating Officer | Sale | 33,272 | $0.32 | $10.6K | Form 4 |
| Apr 28, 2023 | Shaw TimothyChief Operating Officer | Sale | 39,371 | $0.37 | $14.6K | Form 4 |
| Apr 28, 2023 | Levine Jon RPresident and CEO | Sale | 49,393 | $0.38 | $18.8K | Form 4 |
From Forms 4 filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Canton Hathaway, LLC | 645,100 | $45.2K | 0.0% | No change |
| Game Plan Financial Advisors, LLC | 100 | $7 | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARMARIMED INC. filings on SEC EDGAR
- 2SEC EDGARMARIMED INC. filings on SEC EDGAR
- 3
- 4SEC EDGARMARIMED INC. 10-K for fiscal 2025
- 5SEC EDGARMARIMED INC. 10-K for fiscal 2019
- 6SEC EDGARMARIMED INC. 10-K for fiscal 2020
- 7SEC EDGARMARIMED INC. 10-K for fiscal 2021
- 8SEC EDGARMARIMED INC. 10-K for fiscal 2022
- 9SEC EDGARMARIMED INC. 10-K for fiscal 2023
- 10SEC EDGARMARIMED INC. 10-Q for fiscal 2026
- 11SEC EDGARMARIMED INC. 10-Q for fiscal 2026
- 12SEC EDGARMARIMED INC. 10-K for fiscal 2019
- 13
- 14SEC EDGARMario Pinho, Chief financial officer
- 15
- 16
- 17SEC EDGARKathleen Tucker, Board member
- 18SEC EDGARDavid R. Allen, Board member
- 19SEC EDGAREva M.d. Selhub, Board member
- 20SEC EDGARThomas Kidrin, Board member
- 21SEC EDGAREdward J. Gildea, Board member
- 22SEC EDGARJay Coleman, Board member
- 23SEC EDGARRobert N. Fireman, Board member