May 2, 2023, ST. PETERSBURG, FL – Water Tower Research ( 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.

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