CV Sciences reports FY2021 revenue down 18% to $20.0M; loss narrows to $18.4M

CV Sciences, Inc.

2022-Q1 EPS reported -$0.02 revenue$4,447,000

Revenue of $20.0M for FY2021, down 18% from $24.4M in 2020.
Gross margin declined to 43.0% from 45.1%; cash fell to $1.4M from $4.5M.
Operating loss improved to $18.4M from $22.6M; adjusted EBITDA negative $10.0M.
Retail distribution expanded to 8,400+ stores from 7,300 as of Dec 31, 2021.
Launched new products; GNC distribution agreement; PPP loan forgiveness of $2.9M.

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