secwatch.observer — SEC 8-K summary
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Issuer:     CV Sciences, Inc. (CVSI)
CIK:        0001510964
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0000950170-24-037652
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510964/000095017024037652/0000950170-24-037652-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510964/000095017024037652/cvsi-20240328.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-037652

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer