Charlotte's Web Q1 revenue falls 12.1% to $17M; net loss narrows to $2.9M

Charlotte's Web Holdings, Inc.

2023-Q1 EPS reported -$0.02 revenue$17,010,000

Revenue $17.0M, down 12.1% YoY from $19.4M; driven by lower oil tincture volume and mix shift to gummies.
Net loss $2.9M vs $8.6M YoY; included $5.4M fair value gain on debt; adjusted EBITDA loss $3.3M.
Operating expenses reduced 14% YoY to $17.5M; operating loss improved to $7.6M from $8.6M.
Cash $60.8M; launched ReCreate broad-spectrum CBD tincture (NSF Certified for Sport) with MLB partnership.
Formed DeFloria LLC with AJNA BioSciences and BAT for botanical IND pathway targeting neurological condition.

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 the first quarter ended March 31, 2023 results: revenue $17.0 million, net income Net loss $ (2.9 ), EPS $(0.02) per share.

Period: the first quarter ended March 31, 2023
Revenue: $17.0 million
Net income: Net loss $ (2.9 )
EPS: $(0.02) per share
Result: reported results

Exact text from the filing

5.4 0.1 Net loss $ (2.9 ) $ (8.6 ) Net loss per common share, basic and diluted $ (0.02 ) $ (0.06 ) Consolidated net revenue for the first quarter ended March 31, 2023, was $17.0 million, a decrease of 12.1% from $19.4 million in the first quarter of 2022. The decrease was primarily due to lower oil tincture sales volume and related product mix for the periods.

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

Charlotte's Web Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001279569-23-000639

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.