{"url_path":"/sec/mrmd/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1522767/0001522767-26-000073-index.html","accession_number":"0001522767-26-000073","cik":"0001522767","ticker":"MRMD","issuer_name":"MARIMED INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1522767/0001522767-26-000073-index.html","primary_entity_key":"0001522767","primary_entity_name":"MARIMED INC."},"word_count":932,"has_tables":true,"body_markdown":"mrmd-20260331\n0001522767Q12026false12-31http://fasb.org/us-gaap/2025#PrimeRateMemberP6MP6MP20Donexbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:puremrmd:propertymrmd:dispensarymrmd:ownermrmd:noteutr:Ratemrmd:segmentmrmd:lease00015227672026-01-012026-03-3100015227672026-05-1100015227672026-03-3100015227672025-12-310001522767mrmd:SeriesBConvertiblePreferredStockMember2025-12-310001522767mrmd:SeriesBConvertiblePreferredStockMember2026-03-310001522767mrmd:NewSeriesBConvertiblePreferredStockMember2026-03-310001522767mrmd:NewSeriesBConvertiblePreferredStockMember2025-12-3100015227672025-01-012025-03-310001522767us-gaap:CommonStockMember2025-12-310001522767us-gaap:AdditionalPaidInCapitalMember2025-12-310001522767us-gaap:RetainedEarningsMember2025-12-310001522767us-gaap:NoncontrollingInterestMember2025-12-310001522767us-gaap:CommonStockMember2026-01-012026-03-310001522767us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001522767us-gaap:NoncontrollingInterestMember2026-01-012026-03-310001522767us-gaap:RetainedEarningsMember2026-01-012026-03-310001522767us-gaap:CommonStockMember2026-03-310001522767us-gaap:AdditionalPaidInCapitalMember2026-03-310001522767us-gaap:RetainedEarningsMember2026-03-310001522767us-gaap:NoncontrollingInterestMember2026-03-310001522767us-gaap:CommonStockMember2024-12-310001522767us-gaap:AdditionalPaidInCapitalMember2024-12-310001522767us-gaap:RetainedEarningsMember2024-12-310001522767us-gaap:NoncontrollingInterestMember2024-12-3100015227672024-12-310001522767us-gaap:CommonStockMember2025-01-012025-03-310001522767us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001522767us-gaap:NoncontrollingInterestMember2025-01-012025-03-310001522767us-gaap:RetainedEarningsMember2025-01-012025-03-310001522767us-gaap:CommonStockMember2025-03-310001522767us-gaap:AdditionalPaidInCapitalMember2025-03-310001522767us-gaap:RetainedEarningsMember2025-03-310001522767us-gaap:NoncontrollingInterestMember2025-03-3100015227672025-03-310001522767us-gaap:CreditCardReceivablesMember2026-01-012026-03-310001522767us-gaap:TradeAccountsReceivableMember2026-01-012026-03-310001522767mrmd:FirstStateCompassionCenterMember2023-07-012023-07-010001522767mrmd:FirstStateCompassionCenterMember2023-07-010001522767mrmd:FirstStateCompassionCenterMember2025-03-010001522767mrmd:FirstStateCompassionCenterMember2025-01-012025-03-310001522767mrmd:FirstStateCompassionCenterMember2026-01-012026-03-310001522767mrmd:FirstStateCompassionCenterMember2025-09-300001522767mrmd:FirstStateCompassionCenterMemberus-gaap:TrademarksAndTradeNamesMember2025-09-300001522767mrmd:FirstStateCompassionCenterMemberus-gaap:CustomerRelationshipsMember2025-09-300001522767mrmd:RobustMissouriProcessAndManufacturing1LLCMember2022-09-300001522767mrmd:RobustMissouriProcessAndManufacturing1LLCMember2022-09-012022-09-300001522767mrmd:RobustMissouriProcessAndManufacturing1LLCMember2025-10-012025-12-310001522767mrmd:HealerLLCMember2026-03-310001522767mrmd:HealerLLCMember2025-12-310001522767mrmd:HealerLLCMemberus-gaap:SubsequentEventMember2026-05-060001522767mrmd:HealerLLCMemberus-gaap:SubsequentEventMember2026-05-062026-05-060001522767us-gaap:LandMember2026-03-310001522767us-gaap:LandMember2025-12-310001522767mrmd:BuildingsandBuildingImprovementsMember2026-03-310001522767mrmd:BuildingsandBuildingImprovementsMember2025-12-310001522767mrmd:TenantImprovementsMember2026-03-310001522767mrmd:TenantImprovementsMember2025-12-310001522767us-gaap:FurnitureAndFixturesMember2026-03-310001522767us-gaap:FurnitureAndFixturesMember2025-12-310001522767us-gaap:MachineryAndEquipmentMember2026-03-310001522767us-gaap:MachineryAndEquipmentMember2025-12-310001522767us-gaap:ConstructionInProgressMember2026-03-310001522767us-gaap:ConstructionInProgressMember2025-12-310001522767us-gaap:TrademarksAndTradeNamesMember2026-01-012026-03-310001522767us-gaap:TrademarksAndTradeNamesMember2026-03-310001522767mrmd:LicensesAndCustomerBaseMember2026-01-012026-03-310001522767mrmd:LicensesAndCustomerBaseMember2026-03-310001522767us-gaap:NoncompeteAgreementsMember2026-01-012026-03-310001522767us-gaap:NoncompeteAgreementsMember2026-03-310001522767us-gaap:TrademarksAndTradeNamesMember2025-01-012025-12-310001522767us-gaap:TrademarksAndTradeNamesMember2025-12-310001522767mrmd:LicensesAndCustomerBaseMember2025-01-012025-12-310001522767mrmd:LicensesAndCustomerBaseMember2025-12-310001522767us-gaap:NoncompeteAgreementsMember2025-01-012025-12-310001522767us-gaap:NoncompeteAgreementsMember2025-12-3100015227672025-01-012025-12-310001522767mrmd:FSCAcquisitionMember2026-01-012026-03-310001522767mrmd:FSCAcquisitionMember2025-01-012025-03-310001522767mrmd:CREMLoanMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:CREMLoanMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:BankOfNewEnglandWilmingtonDEPropertyMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:BankOfNewEnglandWilmingtonDEPropertyMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:DuQuoinStateBankAnnaILAndHarrisburgILPropertiesRefinancedMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:DuQuoinStateBankAnnaILAndHarrisburgILPropertiesRefinancedMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:DuQuoinStateBankMetropolisILPropertiesMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:DuQuoinStateBankMetropolisILPropertiesMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:DuQuoinStateBankMt.VernonILPropertyRetailMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:DuQuoinStateBankMt.VernonILPropertyRetailMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:DuQuoinStateBankMt.VernonILPropertyGrowAndProductionMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:DuQuoinStateBankMt.VernonILPropertyGrowAndProductionMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:LoanRepurchaseAgreementNoteNumberOneMemberus-gaap:NotesPayableOtherPayablesMember2026-03-310001522767mrmd:LoanRepurchaseAgreementNoteNumberOneMemberus-gaap:NotesPayableOtherPayablesMember2025-12-310001522767mrmd:LoanRepurchaseAgreementNoteNumberTwoMemberus-gaap:NotesPayableOtherPayablesMember2026-03-310001522767mrmd:LoanRepurchaseAgreementNoteNumberTwoMemberus-gaap:NotesPayableOtherPayablesMember2025-12-310001522767mrmd:ErmontAcquisitionMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:ErmontAcquisitionMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:ErmontAcquisitionMemberus-gaap:NotesPayableOtherPayablesMember2026-03-310001522767mrmd:ErmontAcquisitionMemberus-gaap:NotesPayableOtherPayablesMember2025-12-310001522767mrmd:GreenhouseNaturalsAcquisitionMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:GreenhouseNaturalsAcquisitionMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:GreenhouseNaturalsAcquisitionMemberus-gaap:NotesPayableOtherPayablesMember2026-03-310001522767mrmd:GreenhouseNaturalsAcquisitionMemberus-gaap:NotesPayableOtherPayablesMember2025-12-310001522767mrmd:PromissoryNoteIssuedToPurchaseLandMemberus-gaap:NotesPayableOtherPayablesMember2026-03-310001522767mrmd:PromissoryNoteIssuedToPurchaseLandMemberus-gaap:NotesPayableOtherPayablesMember2025-12-310001522767mrmd:PromissoryNotesIssuedToPurchaseMotorVehiclesMemberus-gaap:NotesPayableOtherPayablesMember2026-03-310001522767mrmd:PromissoryNotesIssuedToPurchaseMotorVehiclesMemberus-gaap:NotesPayableOtherPayablesMember2025-12-310001522767mrmd:PromissoryNotesIssuedToPurchaseOtherMachineryAndEquipmentMemberus-gaap:NotesPayableOtherPayablesMember2026-03-310001522767mrmd:PromissoryNotesIssuedToPurchaseOtherMachineryAndEquipmentMemberus-gaap:NotesPayableOtherPayablesMember2025-12-310001522767mrmd:MortgagesAndNotesPayableMember2026-03-310001522767mrmd:MortgagesAndNotesPayableMember2025-12-310001522767mrmd:CREMLoanMemberus-gaap:MortgagesMember2023-11-160001522767mrmd:CREMLoanMemberus-gaap:MortgagesMember2023-11-162023-11-160001522767us-gaap:SecuredDebtMembermrmd:LoanAndSecurityAgreementMemberus-gaap:SecuredDebtMember2023-11-162023-11-160001522767mrmd:BankOfNewEnglandNewBedfordMAInitialMortgageMemberus-gaap:MortgagesMember2023-11-162023-11-160001522767mrmd:ErmontAcquisitionMembermrmd:PromissoryNotesMember2023-11-162023-11-160001522767mrmd:CREMLoanMemberus-gaap:MortgagesMember2026-01-012026-03-310001522767mrmd:CREMLoanMemberus-gaap:MortgagesMember2025-01-012025-03-310001522767mrmd:CREMLoanMemberus-gaap:MortgagesMember2026-01-012026-01-310001522767mrmd:BNEDelawareMortgageMemberus-gaap:MortgagesMember2016-12-3100015227672016-12-310001522767mrmd:BNEDelawareMortgageMemberus-gaap:MortgagesMember2016-01-012016-12-310001522767mrmd:BankOfNewEnglandWilmingtonDEPropertyMemberus-gaap:MortgagesMember2016-01-012016-12-310001522767mrmd:BNEDelawareMortgageMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:BNEDelawareMortgageMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:DuQuoinStateBankAnnaILAndHarrisburgILPropertiesMemberus-gaap:MortgagesMember2016-05-310001522767mrmd:DuQuoinStateBankAnnaILAndHarrisburgILPropertiesRefinancedMemberus-gaap:MortgagesMember2025-05-310001522767mrmd:DuQuoinStateBankAnnaILAndHarrisburgILPropertiesMemberus-gaap:MortgagesMember2025-05-012025-05-310001522767mrmd:DuQuoinStateBankAnnaILAndHarrisburgILPropertiesRefinancedMember2026-03-310001522767mrmd:DuQuoinStateBankAnnaILAndHarrisburgILPropertiesRefinancedMember2025-12-310001522767mrmd:DuQuoinMetropolisMortgageMemberus-gaap:MortgagesMember2021-07-310001522767mrmd:MariHoldingsMetropolisLLCMembermrmd:MetropolisILFacilityMember2021-07-012021-07-310001522767mrmd:MariMedIncMembermrmd:MetropolisILFacilityMember2021-07-310001522767mrmd:DuQuoinMetropolisMortgageMember2026-03-310001522767mrmd:DuQuoinMetropolisMortgageMember2025-12-310001522767mrmd:DuQuoinMountVernonMortgageMembermrmd:MariHoldingsMtVernonLLCMemberus-gaap:SecuredDebtMember2022-07-310001522767mrmd:DuQuoinMountVernonMortgageMemberus-gaap:MortgagesMember2022-07-310001522767us-gaap:PrimeRateMembermrmd:DuQuoinMountVernonMortgageMemberus-gaap:MortgagesMember2022-07-310001522767mrmd:FloorRateMembermrmd:DuQuoinMountVernonMortgageMemberus-gaap:MortgagesMember2022-07-012022-07-310001522767mrmd:SouthPorteBankMortgageMemberus-gaap:MortgagesMember2024-01-310001522767us-gaap:PrimeRateMembermrmd:SouthPorteBankMortgageMemberus-gaap:MortgagesMember2024-01-310001522767mrmd:SouthPorteBankMortgageMemberus-gaap:MortgagesMember2026-03-310001522767mrmd:SouthPorteBankMortgageMemberus-gaap:MortgagesMember2025-12-310001522767mrmd:LoanRepurchaseAgreementMembermrmd:PromissoryNoteMember2026-02-240001522767mrmd:LoanRepurchaseAgreementNoteNumberOneMembermrmd:PromissoryNoteMember2026-02-240001522767mrmd:LoanRepurchaseAgreementNoteNumberTwoMembermrmd:PromissoryNoteMember2026-02-240001522767mrmd:LoanRepurchaseAgreementNoteNumberTwoMembermrmd:PromissoryNoteMember2026-02-242026-02-240001522767mrmd:NewSeriesBPreferredStockMember2026-02-240001522767mrmd:SeriesBObligationMembermrmd:NewSeriesBPreferredStockMember2026-01-012026-03-310001522767mrmd:LoanRepurchaseAgreementNoteNumberOneMemberus-gaap:NotesPayableOtherPayablesMember2026-02-240001522767mrmd:LoanRepurchaseAgreementNoteNumberTwoMemberus-gaap:NotesPayableOtherPayablesMember2026-02-240001522767mrmd:ErmontAcquisitionMembermrmd:PromissoryNotesMember2023-03-092023-03-090001522767mrmd:ErmontAcquisitionMembermrmd:PromissoryNotesMember2023-03-090001522767mrmd:ErmontAcquisitionMembermrmd:PromissoryNotesMember2023-11-262023-11-260001522767mrmd:ErmontAcquisitionMembermrmd:PromissoryNotesMember2026-03-310001522767mrmd:ErmontAcquisitionMembermrmd:PromissoryNotesMember2025-12-310001522767mrmd:ErmontPromissoryNoteMembermrmd:PromissoryNotesMember2026-03-310001522767mrmd:GreenhouseNaturalsLLCBeverlyAssetPurchaseMember2022-12-012022-12-310001522767mrmd:GreenhouseNaturalsLLCBeverlyAssetPurchaseMembermrmd:BeverlyNoteMembermrmd:PromissoryNotesMember2022-12-300001522767mrmd:GreenhouseNaturalsLLCBeverlyAssetPurchaseMembermrmd:PromissoryNotesMember2026-03-310001522767mrmd:GreenhouseNaturalsLLCBeverlyAssetPurchaseMembermrmd:PromissoryNotesMember2025-12-310001522767mrmd:MedLeafAcquisitionMembermrmd:PromissoryNotesMember2024-02-012024-02-010001522767mrmd:MedLeafAcquisitionMembermrmd:PromissoryNotesMember2024-02-010001522767mrmd:AllgreensDispensaryLLCMembermrmd:PromissoryNotesMember2022-08-012022-08-310001522767mrmd:AllgreensDispensaryLLCMembermrmd:PromissoryNotesMember2022-08-310001522767mrmd:ExtinguishmentOfDebtPaymentOccurrenceOneMembermrmd:AllgreensDispensaryLLCMembermrmd:PromissoryNotesMember2025-04-162025-04-160001522767mrmd:ExtinguishmentOfDebtPaymentOccurrenceTwoMembermrmd:AllgreensDispensaryLLCMembermrmd:PromissoryNotesMember2025-04-012025-04-300001522767mrmd:ExtinguishmentOfDebtPaymentOccurrenceThreeMembermrmd:AllgreensDispensaryLLCMembermrmd:PromissoryNotesMember2025-04-012025-04-300001522767mrmd:ExtinguishmentOfDebtPaymentOccurrenceFourMembermrmd:AllgreensDispensaryLLCMembermrmd:PromissoryNotesMember2025-04-012025-04-300001522767mrmd:AllgreensDispensaryLLCMembermrmd:PromissoryNotesMember2025-04-012025-04-300001522767mrmd:ThreeVehicleNotesMemberus-gaap:SecuredDebtMember2026-03-310001522767mrmd:ThreeVehicleNotesMemberus-gaap:SecuredDebtMember2025-12-310001522767mrmd:MiddleboroughNoteMember2026-03-310001522767mrmd:MiddleboroughNoteMember2025-12-310001522767mrmd:PromissoryNotesIssuedToPurchaseOtherMachineryAndEquipmentMemberus-gaap:SecuredDebtMember2025-05-310001522767mrmd:PromissoryNotesIssuedToPurchaseOtherMachineryAndEquipmentMemberus-gaap:SecuredDebtMember2026-03-310001522767mrmd:PromissoryNotesIssuedToPurchaseOtherMachineryAndEquipmentMemberus-gaap:SecuredDebtMember2025-12-310001522767mrmd:ExchangeAgreementMembermrmd:SeriesBConvertiblePreferredStockMembermrmd:TwoUnaffiliatedInstitutionalShareholdersMember2025-01-012025-12-310001522767mrmd:SeriesBConvertiblePreferredStockMember2026-02-282026-02-280001522767mrmd:SeriesBConvertiblePreferredStockMember2026-02-280001522767mrmd:NewSeriesBPreferredStockMember2026-02-242026-02-240001522767mrmd:MixedUnitWithConvertiblePreferredStockAndWarrantMember2021-01-012021-12-310001522767mrmd:HadronHealthcareMasterFundMembersrt:MaximumMemberus-gaap:CommonStockMember2021-12-310001522767us-gaap:CommonStockMember2021-12-310001522767mrmd:HadronHealthcareMasterFundMemberus-gaap:WarrantMember2021-12-310001522767mrmd:SeriesCConvertiblePreferredStockMember2026-01-012026-03-310001522767us-gaap:CommonStockMember2026-01-012026-03-310001522767mrmd:SeriesCConvertiblePreferredStockMember2026-03-310001522767mrmd:AmendedAndRestatedTwoThousandEighteenStockAwardAndIncentivePlanMember2026-01-012026-03-310001522767us-gaap:RestrictedStockUnitsRSUMember2025-12-310001522767us-gaap:RestrictedStockUnitsRSUMember2026-01-012026-03-310001522767us-gaap:RestrictedStockUnitsRSUMember2026-03-310001522767mrmd:ReportableSegmentMember2026-01-012026-03-310001522767mrmd:ReportableSegmentMember2025-01-012025-03-310001522767mrmd:ProductSalesRetailMember2026-01-012026-03-310001522767mrmd:ProductSalesRetailMember2025-01-012025-03-310001522767mrmd:ProductSalesWholesaleMember2026-01-012026-03-310001522767mrmd:ProductSalesWholesaleMember2025-01-012025-03-310001522767mrmd:OtherRevenueMember2026-01-012026-03-310001522767mrmd:OtherRevenueMember2025-01-012025-03-310001522767srt:ChiefExecutiveOfficerMember2026-03-310001522767srt:ChiefExecutiveOfficerMember2026-01-012026-03-310001522767srt:ChiefExecutiveOfficerMember2025-01-012025-03-310001522767srt:ChiefOperatingOfficerMember2025-01-012025-03-310001522767srt:ChiefOperatingOfficerMember2026-01-012026-03-310001522767mrmd:BettysEddiesProductsMemberus-gaap:SalesChannelDirectlyToConsumerMembersrt:ExecutiveOfficerMember2026-01-012026-03-310001522767mrmd:BettysEddiesProductsMemberus-gaap:SalesChannelThroughIntermediaryMembersrt:ExecutiveOfficerMembersrt:MinimumMember2026-01-012026-03-310001522767mrmd:BettysEddiesProductsMemberus-gaap:SalesChannelThroughIntermediaryMembersrt:ExecutiveOfficerMembersrt:MaximumMember2026-01-012026-03-310001522767mrmd:FutureDevelopedProductsMemberus-gaap:SalesChannelDirectlyToConsumerMembersrt:ExecutiveOfficerMember2026-01-012026-03-310001522767mrmd:FutureDevelopedProductsMemberus-gaap:SalesChannelThroughIntermediaryMembersrt:ExecutiveOfficerMembersrt:MinimumMember2026-01-012026-03-310001522767mrmd:FutureDevelopedProductsMemberus-gaap:SalesChannelThroughIntermediaryMembersrt:ExecutiveOfficerMembersrt:MaximumMember2026-01-012026-03-310001522767mrmd:BettysEddiesProductsMembermrmd:RoyaltyAgreementMember2026-01-012026-03-310001522767mrmd:BettysEddiesProductsMembermrmd:RoyaltyAgreementMember2025-01-012025-03-310001522767mrmd:MajorityOwnedSubsidiaryMembersrt:ChiefExecutiveOfficerMember2024-06-100001522767mrmd:MajorityOwnedSubsidiaryMembersrt:ChiefOperatingOfficerMember2024-06-100001522767mrmd:MajorityOwnedSubsidiaryMembersrt:ChiefExecutiveOfficerMember2026-01-012026-03-310001522767mrmd:MajorityOwnedSubsidiaryMembersrt:ChiefOperatingOfficerMember2026-01-012026-03-310001522767mrmd:MajorityOwnedSubsidiaryMembersrt:ChiefExecutiveOfficerMember2025-01-012025-03-310001522767mrmd:MajorityOwnedSubsidiaryMembersrt:ChiefOperatingOfficerMember2025-01-012025-03-310001522767mrmd:FixedAssetsPurchasedMembersrt:ChiefExecutiveOfficerMember2026-03-310001522767mrmd:FixedAssetsPurchasedMembersrt:ChiefExecutiveOfficerMember2025-12-310001522767mrmd:FixedAssetsPurchasedRelatedToAcquisitionMembersrt:ChiefExecutiveOfficerMember2026-03-310001522767mrmd:FixedAssetsPurchasedAmountsAssumedInAcquisitionMembersrt:ChiefExecutiveOfficerMember2026-03-310001522767mrmd:FixedAssetsPurchasedAmountAdvancedToCompanyMembersrt:ChiefExecutiveOfficerMember2026-03-310001522767mrmd:FixedAssetsPurchasedAmountAdvancedToCompanyMembersrt:ChiefExecutiveOfficerMember2025-12-3100015227672026-02-012026-02-2800015227672025-06-012025-06-300001522767mrmd:OGGUSABankruptcyProceedingsMemberus-gaap:RelatedPartyMember2019-12-310001522767mrmd:OGGUSABankruptcyProceedingsMemberus-gaap:RelatedPartyMember2023-01-012023-12-310001522767mrmd:MariMedHempIncMember2024-09-300001522767mrmd:MariMedHempIncMember2025-10-0100015227672023-07-012023-09-300001522767mrmd:NonOfficerDirectorShareholderMember2023-09-300001522767mrmd:NonOfficerDirectorShareholderMember2023-07-012023-09-300001522767us-gaap:SubsequentEventMember2026-04-012026-05-14\n\n[Table of Contents](#i327bf62f622341eba4cf4dc1b602a298_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-Q\n\nx QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the Quarterly Period ended March 31, 2026\n\no TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from ___________________ to ___________________\n\nCommission File number 0-54433\n\nMARIMED INC.\n\n(Exact Name of Registrant as Specified in Its Charter)\n\nDelaware27-4672745\n\n(State or Other Jurisdiction of\nIncorporation or Organization)(I.R.S. Employer\nIdentification No.)\n\n10 Oceana Way\n\nNorwood, MA 02062\n\n(Address of Principal Executive Offices)\n\n781-277-0007\n\n(Registrant’s Telephone Number, Including Area Code)\n\nSecurities registered pursuant to Section 12(b) of the Act: None.\n\nTitle of each classTicker symbol(s)Name of each exchange on which registered\n\nNot ApplicableNot ApplicableNot Applicable\n\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge Accelerated filer\noAccelerated filero\n\nNon-accelerated filer\nxSmaller reporting companyx\n\nEmerging growth companyx\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x\n\nAs of May 11, 2026, 399,266,091 shares of the registrant’s common stock were outstanding.\n\n[Table of Contents](#i327bf62f622341eba4cf4dc1b602a298_7)\n\nMariMed Inc.\n\nTable of Contents\n\nPage\n\n[PART I – FINANCIAL INFORMATION](#i327bf62f622341eba4cf4dc1b602a298_13)\n\n[Cautionary Note Regarding Forward-Looking Statements](#i327bf62f622341eba4cf4dc1b602a298_10)\n\n[3](#i327bf62f622341eba4cf4dc1b602a298_10)\n\n[Item 1.](#i327bf62f622341eba4cf4dc1b602a298_16)\n\n[Financial Statements](#i327bf62f622341eba4cf4dc1b602a298_16)\n\n[4](#i327bf62f622341eba4cf4dc1b602a298_16)\n\n[Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 (unaudited)](#i327bf62f622341eba4cf4dc1b602a298_19)\n\n[4](#i327bf62f622341eba4cf4dc1b602a298_19)\n\n[Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026 and 2025 (unaudited)](#i327bf62f622341eba4cf4dc1b602a298_22)\n\n[6](#i327bf62f622341eba4cf4dc1b602a298_22)\n\n[Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2026 and 2025 (unaudited)](#i327bf62f622341eba4cf4dc1b602a298_25)\n\n[7](#i327bf62f622341eba4cf4dc1b602a298_25)\n\n[Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (unaudited)](#i327bf62f622341eba4cf4dc1b602a298_28)\n\n[8](#i327bf62f622341eba4cf4dc1b602a298_28)\n\n[Notes to Condensed Consolidated Financial Statements (unaudited)](#i327bf62f622341eba4cf4dc1b602a298_31)\n\n[10](#i327bf62f622341eba4cf4dc1b602a298_31)\n\n[Item 2.](#i327bf62f622341eba4cf4dc1b602a298_106)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i327bf62f622341eba4cf4dc1b602a298_106)\n\n[30](#i327bf62f622341eba4cf4dc1b602a298_106)\n\n[Item 3.](#i327bf62f622341eba4cf4dc1b602a298_133)\n\n[Quantitative and Qualitative Disclosure About Market Risk](#i327bf62f622341eba4cf4dc1b602a298_133)\n\n[39](#i327bf62f622341eba4cf4dc1b602a298_133)\n\n[Item 4.](#i327bf62f622341eba4cf4dc1b602a298_136)\n\n[Controls and Procedures](#i327bf62f622341eba4cf4dc1b602a298_136)\n\n[39](#i327bf62f622341eba4cf4dc1b602a298_136)\n\n[PART II – OTHER INFORMATION](#i327bf62f622341eba4cf4dc1b602a298_139)\n\n[Item 1.](#i327bf62f622341eba4cf4dc1b602a298_142)\n\n[Legal Proceedings](#i327bf62f622341eba4cf4dc1b602a298_142)\n\n[39](#i327bf62f622341eba4cf4dc1b602a298_142)\n\n[Item 1A.](#i327bf62f622341eba4cf4dc1b602a298_145)\n\n[Risk Factors](#i327bf62f622341eba4cf4dc1b602a298_145)\n\n[39](#i327bf62f622341eba4cf4dc1b602a298_145)\n\n[Item 2.](#i327bf62f622341eba4cf4dc1b602a298_148)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#i327bf62f622341eba4cf4dc1b602a298_148)\n\n[40](#i327bf62f622341eba4cf4dc1b602a298_148)\n\n[Item 3.](#i327bf62f622341eba4cf4dc1b602a298_151)\n\n[Defaults Upon Senior Securities](#i327bf62f622341eba4cf4dc1b602a298_151)\n\n[40](#i327bf62f622341eba4cf4dc1b602a298_151)\n\n[Item 4.](#i327bf62f622341eba4cf4dc1b602a298_154)\n\n[Mine Safety Disclosures](#i327bf62f622341eba4cf4dc1b602a298_154)\n\n[40](#i327bf62f622341eba4cf4dc1b602a298_154)\n\n[Item 5.](#i327bf62f622341eba4cf4dc1b602a298_157)\n\n[Other Information](#i327bf62f622341eba4cf4dc1b602a298_157)\n\n[40](#i327bf62f622341eba4cf4dc1b602a298_157)\n\n[Item 6.](#i327bf62f622341eba4cf4dc1b602a298_163)\n\n[Exhibits](#i327bf62f622341eba4cf4dc1b602a298_163)\n\n[41](#i327bf62f622341eba4cf4dc1b602a298_163)\n\n[Signature](#i327bf62f622341eba4cf4dc1b602a298_166)\n\n[43](#i327bf62f622341eba4cf4dc1b602a298_166)\n\n2\n\n[Table of Contents](#i327bf62f622341eba4cf4dc1b602a298_7)\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis Quarterly Report on Form 10-Q contains certain forward-looking statements and information relating to MariMed Inc. that is based on the beliefs of MariMed Inc.’s management, as well as assumptions made by and information currently available to the Company. In some cases, you can identify these statements by forward-looking words such as “anticipates,” “believes,” “could,” “should,” “estimates,” “expects,” “intends,” “may,” “plans,” “predicts,” “projects,” “will,” or other similar or comparable words. Any statements contained in this Quarterly Report on Form 10-Q that are not statements of historical facts may be deemed to be forward-looking statements. Such statements reflect the current views of the Company with respect to future events, including consummation of pending transactions, launch of new products, expanded distribution of existing products, obtainment of new licenses, estimates and projections of revenue, EBITDA and Adjusted EBITDA and other information about the Company's business, business prospects and strategic growth plan, which are based on certain assumptions of its management, including those described in this Quarterly Report on Form 10-Q. These statements are not a guarantee of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement, timing and outcome of regulatory processes and changes in the economic environment.\n\nAdditional important factors that could cause actual results to differ materially from those in these forward-looking statements are also discussed in Part I, Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Part II, Item 1A, “Risk Factors” included in this Quarterly Report on Form 10-Q and Part I, Item 1A, “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Any forward-looking statement made by the Company in this Quarterly Report on Form 10-Q speaks only as of the date on which this Quarterly Report on Form 10-Q was first filed. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.\n\n3\n\n[Table of Contents](#i327bf62f622341eba4cf4dc1b602a298_7)\n\nPART I FINANCIAL INFORMATION"}