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Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

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<div><div><div><div><ul style="list-style-type: disc;"><li><p>MariMed reported second-quarter revenue of $36.5 million, which was modestly ahead of our estimate of $36.0 million.</p></li><li><p>This is a 10.6% Y/Y increase in revenue and a 6.2% improvement Q/Q.</p></li><li><p>Higher revenue was driven by the opening of the adult-use Panacea Wellness Store in Beverly Massachusetts on April 25 and the Thrive Wellness medical dispensary in Tiffin, Ohio that opened on June 12. During 2Q, MariMed also benefited from its recent approval to begin manufacturing and selling high- dose edibles in Maryland.</p></li></ul></div></div></div></div>

MariMed reported second-quarter revenue of $36.5 million, which was modestly ahead of our estimate of $36.0 million.This is a 10.6% Y/Y increase in revenue and a 6.2% improvement Q/Q.Higher revenue was driven by the opening of the adult-use Panacea Wellness Store in Beverly Massachusetts on April 25 and the Thrive Wellness medical dispensary in Tiffin, Ohio that opened on June 12. During 2Q, MariMed also benefited from its recent approval to begin manufacturing and selling high- dose edibles in Maryland.

MariMed, Inc. - 2Q Revenue Expands While Adjusted EBITDA Declines