CV Sciences Q2 2024 revenue flat at $4.0M; gross margin improves to 47%, adjusted EBITDA near breakeven

CV Sciences, Inc.

2024-Q2 EPS reported -$0.01 revenue$7,956,000

Revenue $4.0M flat YoY and sequentially; B2C sales up 4% offset by B2B decline of 3%.
Gross margin 47.0% vs 43.3% YoY, best in 13 quarters; operating loss narrowed to $0.6M from $1.1M.
Adjusted EBITDA loss just $6,000, near cash-flow breakeven; cash balance $0.5M vs $1.3M year-end 2023.
Closed acquisition of Elevated Softgels in May 2024; appointed Maxim Group as financial advisor for strategic options.
Received net proceeds of $0.9M from Streeterville financing; remains top hemp extract brand per SPINS.

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