secwatch.observer — SEC 8-K summary
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Issuer:     CV Sciences, Inc. (CVSI)
CIK:        0001510964
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0000950170-24-095801
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510964/000095017024095801/0000950170-24-095801-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510964/000095017024095801/cvsi-20240813.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-095801

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