secwatch.observer — SEC 8-K summary
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Issuer:     CV Sciences, Inc. (CVSI)
CIK:        0001510964
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0000950170-24-059152
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510964/000095017024059152/0000950170-24-059152-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510964/000095017024059152/cvsi-20240514.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-059152

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