---
schema_version: "secwatch.filing_event.v1"
accession: "0001279569-23-000639"
form_type: "8-K"
ticker: "CWBHF"
cik: "0001750155"
company_name: "Charlotte's Web Holdings, Inc."
filed_at: "2023-05-12T23:59:59+00:00"
generated_at: "2026-06-15T02:39:58.194434+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001279569-23-000639
- form_type: 8-K
- ticker: CWBHF
- cik: 0001750155
- company_name: Charlotte's Web Holdings, Inc.
- filed_at: 2023-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1750155/000127956923000639/0001279569-23-000639-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1750155/000127956923000639/charlottes8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001279569-23-000639
- JSON: https://secwatch.observer/filing/0001279569-23-000639.json
- Plain text: https://secwatch.observer/filing/0001279569-23-000639.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1750155/000127956923000639/0001279569-23-000639-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.