CV Sciences FY2023 revenue $16.0M (flat), gross margin improves to 44.3% from 34.2%

CV Sciences, Inc.

Revenue $16.0M for FY2023, flat vs $16.2M in 2022; Q4 revenue $3.8M down 2% YoY.
Gross margin 44.3% (FY2022: 34.2%); operating income $3.4M vs loss $6.8M, helped by $6.2M payroll tax reversal.
Cash $1.3M at year-end; cash from operations $2.3M including $2.5M employee retention credit.
Adjusted EBITDA negative $2.3M in FY2023, improved from negative $6.1M in FY2022.
Acquired Cultured Foods in Q4 2023; launched new products; #1 hemp extract brand in natural retail per SPINS.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CV Sciences, Inc. reported the fourth quarter of 2023 results: revenue $3.8 million.

Period: the fourth quarter of 2023
Revenue: $3.8 million
Result: reported results

Exact text from the filing

Revenue of $3.8 million for the fourth quarter 2023 compared to $4.1 million in the third quarter 2023;

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CV Sciences, Inc. reported fiscal year ended December 31, 2023 results: revenue $16.0 million.

Period: fiscal year ended December 31, 2023
Revenue: $16.0 million
Result: reported results

Exact text from the filing

Generated revenue of $16.0 million for fiscal 2023 compared to $16.2 million for 2022;

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1362 earnings releases filed in the last 30 days. Browse all earnings releases →

CV Sciences, Inc. filing history →

Source: SEC EDGAR

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