secwatch.observer — SEC 8-K summary
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Issuer:     CV Sciences, Inc. (CVSI)
CIK:        0001510964
Form:       8-K
Filed at:   2023-05-15T23:59:59+00:00
Accession:  0001510964-23-000022
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1510964/000151096423000022/0001510964-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1510964/000151096423000022/cvsi-20230515.htm
  HTML page:      https://secwatch.observer/filing/0001510964-23-000022

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