MariMed

What MariMed does

MariMed Inc. is a multi-state cannabis operator (MSO) that runs a vertically integrated seed-to-sale business spanning cultivation, processing, branded product manufacturing, and retail. As of December 31, 2025, the company held 33 cannabis licenses across six states — Massachusetts, Delaware, Illinois, Maryland, Ohio, and Pennsylvania — with full vertical integration in Illinois, Maryland, Massachusetts, and Delaware. It operates 13 Thrive Dispensary retail locations across five states and distributes a portfolio of five proprietary consumer brands (Nature's Heritage, Betty's Eddies, Bubby's Baked, Vibations, and InHouse) wholesale to hundreds of third-party dispensaries via dedicated sales teams. Core technology consists of proprietary cannabis strains and formulations developed in-house, supported by registered trademarks across the brand portfolio and DEA registration applications submitted in June 2026 to access federal safe harbor under the December 2025 Schedule III rescheduling.

Name

MariMed

Legal name

MariMed Inc.

Website

https://marimedinc.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

501–1,000 employees

Short description

MariMed Inc. is a publicly-traded multi-state cannabis operator running vertically integrated cultivation, processing, and retail across six U.S. states via 13 Thrive Dispensaries and a portfolio of five proprietary branded product lines sold to medical patients, adult-use consumers, and wholesale dispensaries.

Ownership category

akta.pro rank

Product category

Cannabis Products and Retail

NAICS

Medicinal and Botanical Manufacturing (325411), Beverage Manufacturing (3121)

SIC

Medicinal Chemicals & Botanical Products (2833), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Cannabis Dispensary + Delivery/Online Pickup (Omnichannel Retail) (CRANAFAG)

akta.pro secondary industries

Adult-Use (Recreational) Cannabis Dispensaries (CRANAFAA), Medical Cannabis Dispensaries (CRANAFAB)

Keywords

• Cannabis cultivation
• Cannabis retail
• Cannabis edibles
• Multi-state operator
• Hemp derived thc

Headquarters

HQ city

Norwood

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Product Sales - Retail: Direct sales of cannabis products through company's own Thrive Dispensary retail locations. Revenue generated from sales of proprietary products and those marketed by other cannabis license holders. Q4 2025 retail revenue was $21.5M.
2. Product Sales - Wholesale: Wholesale distribution of proprietary branded cannabis products to hundreds of dispensaries operated by other cannabis license holders through dedicated sales teams.
3. Licensing Revenue: Licensing of proprietary brands to wholesalers and regulated dispensaries in select domestic markets. Revenues are not material to overall results.
4. Other Revenue: Includes management fees, real estate rental income, and supply procurement fees - not material to consolidated results.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

MariMed is a multi-state cannabis operator that cultivates, processes, manufactures, and distributes a portfolio of proprietary cannabis brands (Nature's Heritage, Betty's Eddies, Bubby's Baked, Vibations, InHouse) through its 13 company-owned Thrive Dispensaries and wholesale channels serving hundreds of third-party dispensaries across six U.S. states. The company operates vertically integrated seed-to-sale operations in Illinois, Maryland, Massachusetts, and Delaware, with cultivation, processing, and retail assets licensed under 33 state-issued cannabis licenses.

Product overview

MariMed is a multi-state cannabis operator offering a vertically integrated seed-to-sale operation spanning cultivation, production, and retail. The company's product portfolio centers on five proprietary consumer brands: Betty's Eddies (cannabis fruit chews), Bubby's Baked (infused baked goods), InHouse (value-priced products), Nature's Heritage (premium flower/concentrates), and Vibations (hydrating drink mixes). These branded products are sold through company-operated Thrive Dispensary retail locations (13 stores across five states) and distributed wholesale to hundreds of third-party dispensaries. The company also operates cultivation and manufacturing facilities, providing vertical integration in Illinois, Maryland, Massachusetts, and Delaware.

Differentiator

Problem solved

Functional benefit

Brands

• Nature's Heritage: Premium brand of cannabis flower, vapes, and concentrates
• Betty's Eddies
• Bubby's Baked
• Vibations
• InHouse
• Thrive

Products and services

• Nature's Heritage

Quantifiable outcome

• Record $159.8M revenue in 2025
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Craft Collective HomegrowncoreChannel Partner/ Reseller/ Distributor · 23 January 2026Rhode Island distribution partner for hemp-derived THC products including Vibations brand. Products distributed through licensed liquor stores.
• Modern Infusions (Theory Wellness)coreGTM or Marketing Partner · 22 January 2026Sales execution and local marketing partner for Rhode Island hemp THC market launch.
• DeHydr8coreChannel Partner/ Reseller/ Distributor · 3 November 2025Manufacturing partner for hemp-derived THC products including Vibations hydrating drink mix and Betty's Eddies gummies for the hemp THC market.
• CountermeasurescoreGTM or Marketing Partner · 3 November 2025National sales and marketing partner for hemp-derived THC product launches.
• Farm 2 HandcoreChannel Partner/ Reseller/ Distributor · 23 October 2025Licensing agreement to expand product distribution in New York State. Products produced in new kitchen at Farm 2 Hand's Bronx facility, expected to reach over 500 dispensaries in 2026.
• Standard Farms, LLC (TILT Holdings)coreStrategic or Co-development Partner · 1 September 2025Management Services Agreement for day-to-day management of Standard Farms cultivation and processing facility in White Haven, Pennsylvania. Includes licensing arrangement for brand production and distribution pending regulatory approval.
• Artis LLC (Little Dog Delivery)minorChannel Partner/ Reseller/ Distributor · 1 April 2023Home delivery service partner in Massachusetts following April 2023 investment.
• First State Compassion Center (FSC)coreStrategic or Co-development PartnerAcquired March 1, 2025. Leading cannabis operator in Delaware with dispensaries in Wilmington and Lewes, cultivation in Milford, and production kitchen in Wilmington.

Scale indicators9 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Ascend Wellness Holdings: Mid-sized multi-state cannabis operator with vertical integration in Illinois, Massachusetts, Michigan, New Jersey, and Ohio. Highly comparable to MariMed in scale, vertical integration strategy, and state footprint, making it one of the closest direct comparables on size and operating model.
• Ayr Wellness: Multi-state cannabis operator with retail dispensaries and cultivation/processing operations across multiple states including Massachusetts and Pennsylvania. Comparable to MariMed in scale, business model, and geographic footprint, with similar brand-and-wholesale strategy.
• iAnthus Capital Holdings: Multi-state cannabis operator with retail, cultivation, and processing operations in states including Massachusetts, Maryland, Florida, and New York. Similar size and operating profile to MariMed, with comparable state-by-state licensing and distribution challenges.
• Jushi Holdings: Multi-state cannabis operator with retail, cultivation, and processing operations across states including Illinois, Massachusetts, Pennsylvania, and Virginia. Comparable to MariMed in revenue scale and operational footprint, with overlapping competitive dynamics in core states.

Broad incumbents

• Curaleaf Holdings: One of the largest U.S. multi-state cannabis operators with vertical integration across cultivation, processing, and retail in numerous states including Massachusetts, Illinois, and Maryland. Directly comparable to MariMed's vertically integrated MSO model but at substantially larger scale (multi-billion dollar revenue).
• Cresco Labs: Multi-state cannabis operator with cultivation, processing, and retail across Illinois, Massachusetts, Pennsylvania, and other states where MariMed operates. Competes directly with MariMed in wholesale branded products and dispensary retail, with similar vertical integration strategy.
• Green Thumb Industries: Large multi-state cannabis operator with cultivation, processing, and retail operations across multiple states including Massachusetts, Illinois, Maryland, and Pennsylvania, overlapping directly with MariMed's footprint. Operates the Rise Dispensary brand and competes with MariMed's wholesale brands in shared markets.
• Trulieve Cannabis: Vertically integrated multi-state operator with retail and wholesale operations across the eastern U.S., including Massachusetts and Pennsylvania where MariMed operates. Trulieve's scale and product breadth provide a direct competitive comparison for MariMed's wholesale and retail strategy.
• Verano Holdings: Vertically integrated multi-state cannabis operator with retail dispensaries and wholesale branded products across multiple states including Illinois, Maryland, and Massachusetts. Operates comparable brand portfolio (e.g., MentaL, Encore) competing for shelf space and consumer mindshare against MariMed's brands.
• Tilray Brands: Large multi-state cannabis operator with significant hemp-THC product portfolio and beverage-adjacent brands. Relevant peer for MariMed's hemp-THC Vibations product line in Rhode Island liquor stores and broader hemp-derived THC strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/MariMed_Inc
• LinkedInlinkedin.com/company/marimed-inc
• Facebookfacebook.com/MariMed-Inc-104481748454371

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MariMed