---
schema_version: "secwatch.filing_event.v1"
accession: "0001510964-23-000022"
form_type: "8-K"
ticker: "CVSI"
cik: "0001510964"
company_name: "CV Sciences, Inc."
filed_at: "2023-05-15T23:59:59+00:00"
generated_at: "2026-06-15T01:04:36.845464+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001510964-23-000022
- form_type: 8-K
- ticker: CVSI
- cik: 0001510964
- company_name: CV Sciences, Inc.
- filed_at: 2023-05-15T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1510964/000151096423000022/0001510964-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1510964/000151096423000022/cvsi-20230515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001510964-23-000022
- JSON: https://secwatch.observer/filing/0001510964-23-000022.json
- Plain text: https://secwatch.observer/filing/0001510964-23-000022.txt

## Key facts
- Earnings Releases
  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
  source text: 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;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1510964/000151096423000022/0001510964-23-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.