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Marimed vs Natural Alternatives International: MRMD and NAII compared
Marimed is the larger company: $41.9M of revenue in its latest quarter (Q2 2026) against $34.5M for Natural Alternatives International (Q4 FY26). Marimed is growing faster (+6% against +2% a year earlier). Marimed is more profitable, with an operating margin of 1.0% against -38.2%.
Where the money goes: MRMD and NAII
Marimed (MRMD) · Q2 2026
Marimed, Q2 2026: revenue $41.9M (+6% year over year), operating margin 1.0%, net loss $3.6M, operating cash flow $2.2M. The chart follows the revenue to costs, profit and cash.
Natural Alternatives International (NAII) · Q4 FY26
Natural Alternatives International, Q4 FY26: revenue $34.5M (+2% year over year), operating margin -38.2%, net loss $13.5M, operating cash flow −$1.1M. The chart follows the revenue to costs, profit and cash.
| Marimed (MRMD) | Natural Alternatives International (NAII) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q4 FY26 |
| Revenue | $41.9M | $34.5M |
| Revenue growth, Y/Y | +6% | +2% |
| Operating margin | 1.0% | -38.2% |
| Net earnings | −$3.6M | −$13.5M |
| Net margin | -8.5% | -39.2% |
| Operating cash flow | $2.2M | −$1.1M |
| Free cash flow | $1.9M | — |
Where the revenue comes from
Marimed
- Product sales - retail: $23.2M (55%)
- Product sales - wholesale: $18.5M (44%)
- Other revenue: $193K (0%)
Questions
Which is bigger, Marimed or Natural Alternatives International?
Marimed is the larger company: $41.9M of revenue in its latest quarter (Q2 2026) against $34.5M for Natural Alternatives International (Q4 FY26).
Is Marimed or Natural Alternatives International growing faster?
Marimed is growing faster (+6% against +2% a year earlier).
Which is more profitable, Marimed or Natural Alternatives International?
Marimed is more profitable, with an operating margin of 1.0% against -38.2%.
More: Marimed earnings · how Marimed makes money · Natural Alternatives International earnings · how Natural Alternatives International makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 13, 2026; 10-K filed Sep 28, 2026). Fiscal quarters can end on different dates. Not investment advice.