CV Sciences Q1 revenue down 7% to $4.1M; gross margin improves to 43% vs 26% YoY

CV Sciences, Inc.

2023-Q1 EPS reported $0.04 revenue$4,148,000

Revenue $4.1M vs $4.4M YoY; sequential increase of 7% from Q4 2022.
Gross margin 43.0% vs 26.0% YoY; operating income $5.8M (incl. $6.2M payroll tax reversal).
Adjusted EBITDA loss narrowed to $0.2M from $2.5M YoY; cash balance $0.7M.
Received $2.5M employee retention credit; extinguished outstanding note in Q2 2023.
Maintained #1 hemp extract brand in natural product retail per SPINS; preliminary approval of shareholder derivative lawsuit settlement.

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 quarter ended March 31, 2023 results: revenue $4.1 million.

Period: the quarter ended March 31, 2023
Revenue: $4.1 million
Result: reported results

Exact text from the filing

CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent consumer wellness company specializing in hemp extracts and other proven science-backed, natural ingredients and products, today announced its financial results for the quarter ended March 31, 2023. First Quarter 2023 and Recent Financial and Operating Highlights • Generated revenue of $4.1 million for the first quarter 2023 compared to $4.4 million for first quarter 2022 and a sequential increase of 7% from $3.9 million in the fourth quarter 2022;

View on SEC.gov

Browse all earnings releases →

CV Sciences, Inc. filing history →

Source: SEC EDGAR

accession 0001510964-23-000022

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.