Charlotte's Web Q3 revenue down 28% YoY to $17M; operating loss improves, adjusted EBITDA positive

Charlotte's Web Holdings, Inc.

2022-Q3 EPS reported -$0.17 revenue$55,271,000

Net revenue $17.0M, down 28.1% from $23.7M in Q3-2021; B2B revenue fell 38.1%.
Operating loss improved 58.2% to $3.9M vs $9.4M a year ago; adjusted EBITDA positive $0.6M vs -$4.8M.
Cash increased to $16.5M from $14.8M at June 30; net cash from operations -$2.6M YTD.
Named official CBD of Major League Baseball on Oct 12; launched NSF-certified Sport line.
Distribution deals with Cardinal Health, Southern Glazer, and Tilray alliance for Canadian market.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Charlotte's Web Holdings, Inc. reported third quarter ended September 30, 2022 results: revenue $17.0 million, net income $7.6 million, EPS ($0.05) per share.

Period: third quarter ended September 30, 2022
Revenue: $17.0 million
Net income: $7.6 million
EPS: ($0.05) per share
Result: reported results

Exact text from the filing

Q3-2022 Financial Review For the three-month period ended September 30, 2022, net revenue was $17.0 million, a decrease of 28.1% versus $23.7 million in Q3-2021.

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Charlotte's Web Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001279569-22-001879

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