MariMed Inc. (MRMD), a multi-state cannabis operator, disclosed its financial outcomes Wednesday evening for the first quarter of 2024, which ended on March 31. The company reported a revenue of $37.9 million, an increase from $34.4 million in the corresponding quarter last year. Jon Levine, the CEO highlighted the substantial growth in their wholesale business as a key driver behind the quarter's success, marking their 17th consecutive quarter of positive adjusted EBITDA. Revenue And Gross Margin Despite the revenue growth, MariMed's gross margin showed a decline. The GAAP gross margin was recorded at 43%, down from 45% in Q1 2023. Similarly, the non-GAAP gross margin decreased to 44% from 46%. This probably indicates a tightening in profitability, which could be attributed to increased costs or changes in product mix. Net Loss And Profitability The financials also revealed a widening net loss. The GAAP net loss deepened to $1.3 million from a loss of ...