Charlotte's Web Q4 net loss $8.5M; FY revenue down 14.8% to $63.2M, launches True North turnaround

Charlotte's Web Holdings, Inc.

Q4 2023 revenue $15.9M (-16% YoY); gross profit $8.9M (56% margin); net loss $8.5M ($0.06/share).
FY 2023 revenue $63.2M (-14.8% from $74.1M); net loss $23.8M ($0.16/share) improved vs $59.3M loss in 2022.
True North turnaround includes eCommerce platform migration, brand consolidation under Charlotte's Web, and price cuts on CBD oils.
Cash balance $47.8M at Dec 31, 2023; Q4 cash burn $2.2M (incl. $2.0M MLB payment); working capital $54.5M.

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 financial results for fourth quarter ended December 31, 2023.

Period: fourth quarter ended December 31, 2023
Result: reported results

Exact text from the filing

Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company”), the market leader in full spectrum hemp extract wellness products, today reported financial results for fourth quarter and year-ended December 31, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Charlotte's Web Holdings, Inc. reported financial results for year-ended December 31, 2023.

Period: year-ended December 31, 2023
Result: reported results

Exact text from the filing

Charlotte’s Web Holdings, Inc. (“Charlotte’s Web” or the “Company”), the market leader in full spectrum hemp extract wellness products, today reported financial results for fourth quarter and year-ended December 31, 2023.

View on SEC.gov

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Charlotte's Web Holdings, Inc. filing history →

Source: SEC EDGAR

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