CV Sciences FY2022 revenue $16.2M, down 19% YoY; operating loss narrows to $6.8M

CV Sciences, Inc.

Revenue $16.2M for FY2022 vs $20.0M in 2021 (-19%); Q4 revenue $3.9M, up 3% sequentially.
Gross margin 34.2% in FY2022 vs 43.0% in 2021; Q4 gross margin 40.4%.
Operating expenses cut 54% to $12.4M; operating loss improved to $6.8M from $18.4M.
Cash balance $0.6M at year-end; Q4 generated $0.2M positive operating cash flow.
Regained #1 hemp extract brand in natural retail; launched new products; evaluating M&A.

item 2.02 item 7.01 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

CV Sciences, Inc. reported the year and quarter ended December 31, 2022 results: revenue $16.2 million.

Period: the year and quarter ended December 31, 2022
Revenue: $16.2 million
Result: reported results

Exact text from the filing

its financial results for the year and quarter ended December 31, 2022. Fiscal 2022, Fourth Quarter 2022 and Recent Financial and Operating Highlights • Generated revenue of $16.2 million for fiscal year 2022 compared to $20.0 million for 2021; Revenue of $3.9 million for the fourth quarter 2022 sequential increase of 3% from $3.8 million in the third quarter

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Source: SEC EDGAR

accession 0001510964-23-000012

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