Charlotte's Web Q1 revenue falls 29% to $12.1M; net loss widens to $9.7M

Charlotte's Web Holdings, Inc.

2024-Q1 EPS reported -$0.06 vs consensus -$0.06 ▲ beat (+2.0%)

Revenue $12.1M (down 29% YoY); net loss $9.7M vs $2.9M loss in Q1 2023.
Adjusted EBITDA loss $4.0M vs loss $3.3M; SG&A reduced 12.8% to $15.3M.
Cash and working capital $38.5M and $48.6M; net cash used in ops $7.2M.
Targets $15M SG&A reduction in 2024; e-commerce platform migration on track for Q2 launch.
DeFloria completes Phase 1 trial dosing; IND submission to FDA planned this year.

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 0.95

Charlotte's Web Holdings, Inc. reported first quarter ended March 31, 2024 results: revenue $12.1, net income $(9.7), EPS $(0.06).

Period: first quarter ended March 31, 2024
Revenue: $12.1
Net income: $(9.7)
EPS: $(0.06)
Result: reported results

Exact text from the filing

The following table sets forth selected financial information for the periods indicated. Three Months Ended, March 31, U.S. $ millions, except per share data 2024 2023 Revenue $12.1 $17.0 Cost of goods sold 5.2 7.1 Gross profit 6.9 9.9 Selling, general and administrative expenses 15.3 17.5 Operating loss (8.4) (7.6) Other income (expense), net 0.6 (0.7)

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Source: SEC EDGAR

accession 0001279569-24-000553

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