CV Sciences Q1 2024 revenue $4.0M, gross margin 46.3%, operating loss $0.6M

CV Sciences, Inc.

2024-Q1 EPS reported $0.00 revenue$4,002,000

Revenue $4.0M, down 4% YoY from $4.1M, up sequentially from $3.8M in Q4 2023.
Gross margin 46.3%, best in 12 quarters, up from 43.0% in Q1 2023.
Operating loss $0.6M vs operating income $5.8M in Q1 2023 (due to reversal of accrued payroll tax of $6.2M).
Adjusted EBITDA negative $0.5M vs negative $0.2M in Q1 2023; cash $0.7M down from $1.3M.
Acquired Elevated Softgels, a Colorado softgel and tincture manufacturer; no deal terms disclosed.

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 0.95

CV Sciences, Inc. reported for the quarter ended March 31, 2024 results: revenue $4.0 million.

Period: for the quarter ended March 31, 2024
Revenue: $4.0 million
Result: reported results

Exact text from the filing

and products, today announced its financial results for the quarter ended March 31, 2024. First Quarter 2024 and Recent Financial and Operating Highlights • Generated revenue of $4.0 million for first quarter 2024 compared to $4.1 million for the first quarter 2023 and a sequential improvement from $3.8 million for the fourth quarter 2023; • Recognized gross margin

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Source: SEC EDGAR

accession 0000950170-24-059152

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