MariMed Inc. (OTCQX:MRMD) is hoping to expand its presence into seven more states in the next 18 months.
MariMed has grown from a consulting company to a full multistate, vertically integrated operator, President and CEO Robert Fireman told Tim Seymour, portfolio manager of the Amplify Seymour Cannabis ETF (NYSE:CNBS), on Wednesday at the Benzinga Cannabis Capital Conference in Miami Beach.
Fireman pinpointed MariMed's formula for success.
"I think it's about the team. We grind it out every day. We've got a validated management team, unlike other MSOs that have been together over 10 years."
MariMed CEO Breaks Down MSO's Performance: MariMed has a culture of work and commitment to quality, Fireman told Seymour. Its revenue is sustainable, the CEO said, adding that he's "very comfortable" MariMed will meet or exceed its guidance.
The company maintained double-digit growth in 2020 and 2021, he said.
The Last Word: To further cement the idea of how important the flower is at MariMed, Firemen said that in the company's Massachusetts facility, it has special music for each plant to create specific growing conditions. He calls this method "making love to the plant."
CNBC's Tim Seymour, left, and MariMed CEO Robert Fireman chat Wednesday at the Benzinga Cannabis Capital Conference. Photo by Dez Smith.
