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The Marimed Inc (OTCMKTS:MRMD) Outperformance Story Remains Intact

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We continue to view Marimed Inc (OTCMKTS:MRMD) as one of the most interesting stories in the cannabis space right now, given the stock’s combination of a genuine under-the-radar feel and its clear sector outperformance. To that end, the company just reported its Q3 financial numbers, which helped to hold it above all of its major technical markers, including both major moving averages.

According to the release, “For the quarter ended September 30, 2018, revenues nearly doubled from the same period a year ago, increasing 98% from approximately $1.7 million to approximately $3.4 million. The Company continued to grow quarterly year-over-year revenue since the second quarter of 2016. Also during this time period, operating income nearly tripled from the same period a year ago, increasing 200% from approximately $287,000 to approximately $861,000.”

Marimed Inc (OTCMKTS:MRMD) is an industry leader in the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities. MariMed’s team has developed state-of-the-art, regulatory-compliant legal cannabis facilities in multiple states.

These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. MariMed is on the forefront of precision dosed cannabis medicine for the treatment of specific medical conditions. MariMed branded products are being licensed and distributed in legal cannabis states across the country.

We have licensed Tikun Olam world renown Israeli cannabis genetics with 5 years of clinical data for our Delaware managed facility.

Moreover, MariMed Inc. provides consulting services for the design, development, operation, funding, and optimization of medical cannabis cultivation, production, and dispensary facilities. The company also develops and manages facilities for the cultivation, production, and dispensing of legal cannabis and cannabis-infused products under the Kalm Fusion brand name. In addition, it offers legal, accounting, human resources, and other corporate and administrative services.

As of December 31, 2017, it developed and managed six operating cannabis facilities for clients in Delaware, Illinois, Nevada, and Maryland. MariMed Inc. was incorporated in 2011 and is based in Newton, Massachusetts.

According to company materials, “MariMed designs, develops, finances, and optimizes the success of medical cannabis cultivation, production, and dispensary facilities through its validated management. MariMed’s team has developed or is in the process of developing state-of-the-art regulatory-compliant facilities in DE, IL, NV, MD, MA, and RI. These facilities are models of excellence in horticultural principals, cannabis production, product development, and dispensary operations. In addition, MariMed is on the forefront of precision dosed branded products for the treatment of specific medical symptoms. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional states encompassing thousands of dispensaries.”

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As noted above, MRMD just announced its Q3 data. In all, the chart shows 10% tacked on to share pricing for the name in the past month. Furthermore, the listing has seen a growing influx of trading interest, with the stock’s recent average trading volume running 29% above the average volume levels in play in this stock over the longer term.

“Our results this quarter reflect the execution of our original business strategy and success of our licensed cannabis clients under MariMed’s professional management in multiple states,” said Robert Fireman, CEO of MariMed Inc. “With consistent investment to expand our footprint, and our new Massachusetts and Maryland facilities generating leasing, management and product licensing revenue, plus strong execution on product sales, we achieved better than expected performance in each of these areas.”

At this time, carrying a capital value in the market of $904.45M, MRMD has a significant war chest ($5.1M) of cash on the books, which must be weighed relative to about $16.1M in total current liabilities. MRMD is pulling in trailing 12-month revenues of $10M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 97.7%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $MRMD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $MRMD, either long or short, and we have not been compensated for this article.

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