secwatch.observer — SEC 8-K summary
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Issuer:     Charlotte's Web Holdings, Inc. (CWBHF)
CIK:        0001750155
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001279569-24-000988
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Charlotte's Web Q2 revenue $12.3M, net loss $11.0M; cuts costs, launches new e-commerce platform
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- Revenue $12.3M, down 23% YoY; net loss $11.0M ($0.07/sh) vs income $2.8M in Q2 2023.
- Gross margin hit by $3.8M inventory provision; adjusted gross margin 52.2% vs 56.5% YoY.
- SG&A reduced 25% to $14.7M; expects >$20M full-year cut from 2023; cash burn improving.
- Cash and working capital $32.5M and $38.5M, down from $47.8M and $54.5M at Dec 31, 2023.
- Launched new DTC e-commerce platform and expanded Walmart distribution to 827 stores in June 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1750155/000127956924000988/0001279569-24-000988-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1750155/000127956924000988/charlottesweb8k.htm
  HTML page:      https://secwatch.observer/filing/0001279569-24-000988

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer