MariMed Inc. (MRMD) Financial Statements (2024 and earlier)

Company Profile

Business Address 10 OCEANA WAY
NORWOOD, MA 02062
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2833 - Medicinal Chemicals and Botanical Products (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments14,7339,86029,9344,3562,1884,104
Cash and cash equivalents14,6459,73729,6832,9997394,104
Short-term investments 881232511,3571,449 
Receivables7,3566,8231,9207,9922,2919,340
Inventory, net of allowances, customer advances and progress billings25,30619,4779,7686,8311,219 
Inventory25,30619,4779,7686,8311,219 
Other current assets3,4077,2821,441583192219
Other undisclosed current assets6307041,5511,2821,4862,045
Total current assets:51,43244,14644,61321,0437,37715,709
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization3,2957134678111
Operating lease, right-of-use asset9,7164,9315,0815,2475,787
Property, plant and equipment89,10371,64162,15045,63742,79234,100
Long-term investments and receivables1,0357,4678,9872,1312,9641,212
Due from related parties    120
Long-term investments221  1,1661,325 
Accounts and financing receivable, after allowance for credit loss8147,4678,9879651,6391,092
Intangible assets, net (including goodwill)29,00522,2802,2302,2292,364185
Goodwill11,9938,079    
Intangible assets, net (excluding goodwill)17,01214,2012,2302,2292,364185
Other noncurrent assets12,5371,024988017683
Other undisclosed noncurrent assets      31,672
Total noncurrent assets:144,691108,05678,59255,40254,19567,252
TOTAL ASSETS:196,123152,202123,20576,44561,57282,961
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities12,5509,71724,7128,66610,1155,504
Taxes payable18,265   
Accounts payable9,0016,6265,0995,0454,7193,915
Accrued liabilities3,5493,0911,3493,6215,3961,588
Debt1,9334,011378,89824,0693,878
Deferred rent credit      106
Other liabilities   21,077858 
Due to related parties  1,1581,455276
Other undisclosed current liabilities16,37912,7622,4713,428224125
Total current liabilities:30,86226,49027,22323,22736,7209,889
Noncurrent Liabilities
Long-term debt and lease obligation2,14026,4045,04515,5495,475 
Long-term debt, excluding current maturities  25,94344810,682  
Finance lease, liability2,140461224475
Liabilities, other than long-term debt8,5554,273100100100338
Other liabilities100100100100100338
Operating lease, liability8,4554,1734,5744,8225,399
Other undisclosed noncurrent liabilities65,652 16,81314,74412,94810,969
Total noncurrent liabilities:76,34730,67721,95830,39318,52311,307
Total liabilities:107,20957,16749,18153,62055,24421,196
Temporary equity, carrying amount19,00037,72537,72514,725  
Equity
Equity, attributable to parent71,56458,78237,8628,6674,54661,646
Common stock375341334314228211
Common stock, share subscribed but unissued, subscriptions receivable    (5)(1,168)(169)
Additional paid in capital171,144142,365134,920112,974112,24687,180
Accumulated deficit(99,955)(83,924)(97,392)(104,617)(106,761)(25,576)
Equity, attributable to noncontrolling interest(1,650)(1,511)(1,563)(577)(553)(220)
Other undisclosed equity  39 112,336338
Total equity:69,91457,31036,2998,1006,32861,764
TOTAL LIABILITIES AND EQUITY:196,123152,202123,20576,44561,57282,961

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues148,598134,010121,46450,89545,60511,852
Operating lease, lease income1,7873,52618,70013,900 
Revenue from related parties   29,029 
Cost of revenue(82,679)(70,053)(55,201)(19,570)(26,903)(4,041)
Gross profit:65,91963,95766,26331,32518,7027,811
Operating expenses(51,534)(43,588)(39,400)(16,794)(60,300)(13,167)
Operating income (loss):14,38520,36926,86314,531(41,598)(5,356)
Nonoperating income (expense)(20,981)(861)(3,048)(10,034)(40,283)7,953
Investment income, nonoperating   (1,107)   
Interest and debt expense(10,431)(1,693)(2,356)(45)(5)4,133
Income (loss) from continuing operations before equity method investments, income taxes:(17,027)17,81521,4604,452(81,886)6,730
Other undisclosed income from continuing operations before income taxes10,4311,6932,35645  
Income (loss) from continuing operations before income taxes:(6,596)19,50823,8164,496(81,886)6,730
Income tax expense(9,411)(5,894)(16,192)(2,067)  
Income (loss) from continuing operations:(16,007)13,6147,6242,429(81,886)6,730
Income (loss) before gain (loss) on sale of properties:7,6242,429(81,886)6,730
Other undisclosed net income (loss)     5(20,039)
Net income (loss):(16,007)13,6147,6242,429(81,881)(13,309)
Net income (loss) attributable to noncontrolling interest(24)(146)(399)(285)696(295)
Net income (loss) available to common stockholders, diluted:(16,031)13,4687,2252,144(81,185)(13,604)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(16,007)13,6147,6242,429(81,881)(13,309)
Comprehensive income (loss):(16,007)13,6147,6242,429(81,881)(13,309)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(24)(146)(399)(285)696(295)
Comprehensive income (loss), net of tax, attributable to parent:(16,031)13,4687,2252,144(81,185)(13,604)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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