Host Shadd Dales and millennial entrepreneur Anthony Varrell get a chance to catch up with MariMed CEO Jon Levine in this cannabis exclusive episode of The Dales Report. Jon brings us up to date on MariMed’s latest news, including a potentially game-changing reveal of debt refinancing.
It’s been a while since we touched base with MariMed (MRMD). In October, they unveiled an adult-use Thrive dispensary in Casey Illinois, expanding MariMed’s retail footprint once again. They also delivered a remarkable earnings report in August. Year over year, MariMed grew revenue 11%—the only company aside from Ascend Wellness to deliver double-digit YoY performance in that earning’s season.
Today, Jon Levine reveals the details of the $58.7M debt refinancing. It’s anticipated that this move will bring significant cash savings for the company. Shadd Dales and Anthony Varrell explore the financial intricacies of MariMed’s inner workings that reveal their strategic advantage over Cresco despite a seemingly lower rate. What does this mean for MariMed’s future? It could herald some robust future expansion plans, and if you tune in, you’ll hear all about it.
The discussion then shifts to the industry’s financial landscape. After September’s surge, things have been a bit quiet on the cannabis front, but the companies are still actively navigating hurdles – even if now they’re more financial in nature. We explore the benefits of leveraging traditional lenders and the challenges posed by high-interest rates.
Where do things go from here? Jon explains the growth trajectory of MariMed’s wholesale business, driven by facility expansion, new retail stores, and heightened product demand in Maryland. Credit cards are making an impact on industry dynamics. Is speculation on potential basket size increases warranted?
We wrap up with a discussion about the complexities of Maryland sales, insights into Missouri’s regulatory environment, and the departure of MariMed’s former CFO, Susan Blair. Don’t miss this entertaining and informative conversation with MariMed CEO Jon Levine.
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