Medical cannabis company cbdMD has reported financial results for its first quarter of fiscal 2024. Operating loss improved to $1.1m compared to $4.1m for the same period in the previous year. Gross profit was flat at around $3.5m, while operating expenses were $4.6m, down from $7.6m in the previous year. Total net sales declined to $5.37m from almost $6m in the corresponding prior-year period. Direct-to-consumer net sales represented 82.3% of total net sales, a decrease from 90% in Q1 2023. On 31 December 2023, cbdMD had total working capital of roughly $1.4m compared to approximately $3.4m on 30 September, with cash on hand dropping to roughly $1.5m from $1.8m over the same period. The Charlotte-based company recently struck a securities purchase agreement with five institutional investors to fund the national rollout of its ATRx Labs functional mushroom products, as well as launching the hempMD and ATRx Labs brands.
cbdMD, Inc. , one of the nation s leading and most highly trusted and recognized CBD companies, and operator of the leading CBD brands - its flagship brand cbdMD, its animal health brand Paw CBD,.
cbdMD, Inc (YCBD) Misses Q1 EPS by 67c streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
cbdMD Reduces Year over Year Net Loss from Operations by $3 0 Million streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
cbdMD Welcomes Vice President of Wholesale Sales, Joe Baghadjian- Paving the Way for Future Growth streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.