Filing Flows › Marimed (MRMD) › Q4 2025
Marimed (MRMD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 12, 2026
Marimed (MRMD) reported revenue of $41.6M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +2% from the quarter before. Operating margin was -10.9%, net loss $4.6M (11.1% of revenue).
Marimed, Q4 2025: revenue $41.6M (+7% year over year), operating margin -10.9%, net loss $4.6M, operating cash flow $3.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $41.6M | +2% | +7% |
| Operating profit | −$4.5M | -383% | — |
| Net earnings | −$4.6M | — | — |
| Operating cash flow | $3.4M | +28% | — |
| Free cash flow | $3.4M | +60% | — |
What changed
Revenue was $41.6M in Q4 2025, up 7% year over year and up 2% from the previous quarter.
Gross margin was 25.2%, down 7.3 points from Q4 2024. Operating costs exceeded revenue by $4.5M, an operating margin of -10.9%. Operating expenses grew 6% against revenue growth of 7%. The quarter ended with a net loss of $4.6M, wider than the previous quarter's $2.9M loss. Net interest and other expense of $2.8M was the main reason.
Operating cash flow was $3.4M. Non-cash charges added back $2.1M of depreciation and amortization and $382K of share-based compensation. Working capital and other items added $5.6M. Capital expenditures of $33K left free cash flow of $3.4M.
Questions
What was Marimed's revenue in the fourth quarter 2025?
Marimed (MRMD) reported revenue of $41.6M for the fourth quarter 2025 (Q4 2025), +7% from a year earlier and +2% from the quarter before.
Was Marimed profitable in the fourth quarter 2025?
Operating loss was $4.5M (-10.9% of revenue) and net loss $4.6M.
Source: Marimed 10-K on SEC EDGAR.