Charlotte's Web Q4 2022 revenue down 23.8% to $18.9M; net loss $35.2M

Charlotte's Web Holdings, Inc.

Full-year 2022 revenue $74.1M (down 22.8% YoY); net loss $59.3M vs $137.7M in 2021.
Q4 2022 gross profit negative $10.5M due to $21.5M inventory provisions; adjusted gross margin 58.1%.
Adjusted EBITDA loss improved to $4.5M (Q4 2021: $8.3M); full-year loss $11.8M vs $20.6M.
Cash balance $67M at year-end 2022, up from $19.5M; net cash from ops improved to -$5.3M vs -$29.6M.
BAT invested $56.8M via convertible debenture; MLB named Official CBD partner (4% equity stake).

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 the fourth quarter ended December 31, 2022 results: revenue $18.9 million, net income $(35.2) million, EPS $(0.23) per diluted share.

Period: the fourth quarter ended December 31, 2022
Revenue: $18.9 million
Net income: $(35.2) million
EPS: $(0.23) per diluted share
Result: reported results

Exact text from the filing

of revenue, an improvement from Q4 2021 Adjusted Gross Profit, which was $13.8 million, or 55.4%. Consolidated net revenue for the fourth quarter ended December 31, 2022, was $18.9 million, a decrease of 23.8% year-over-year from $24.8 million in the fourth quarter of 2021, primarily due to lower retail and online sales through the Company’s webstore. On a

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

Charlotte's Web Holdings, Inc. reported financial results for the year ended December 31, 2022.

Period: the year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 23, 2023, Charlotte’s Web Holdings, Inc. (the “Company”) issued an earnings release announcing its financial results for the quarter and year ended December 31, 2022.

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Charlotte's Web Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001279569-23-000336

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