CV Sciences Q2 revenue $4.0M; gross margin 43.3%, operating loss narrows to $1.1M

CV Sciences, Inc.

2023-Q2 EPS reported $0.03 revenue$8,114,000

Revenue of $4.0M, down 4% YoY from $4.1M; units sold down 16%, offset by higher average selling price.
Gross margin improved to 43.3% vs 30.7% YoY; operating loss narrowed to $1.1M from $2.3M.
Cash balance $1.7M at quarter-end vs $0.6M at FY2022; generated $2.4M cash from operations in H1 2023 (incl. $2.5M ERC).
Extinguished outstanding note payable; evaluating strategic options including merger or sale.
Maintained #1 hemp extract brand in natural product retail channel; launched PlusCBD Reserve Collection Extra Gummies.

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 0.9

CV Sciences, Inc. reported the quarter ended June 30, 2023 results: revenue $4.0 million.

Period: the quarter ended June 30, 2023
Revenue: $4.0 million
Result: reported results

Exact text from the filing

and products, today announced its financial results for the quarter ended June 30, 2023. Second Quarter 2023 and Recent Financial and Operating Highlights • Generated revenue of $4.0 million for the second quarter 2023 compared to $4.1 million for second quarter 2022; • Recognized gross margin of 43.3% for the second quarter 2023 compared to 30.7% for the second

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Source: SEC EDGAR

accession 0001510964-23-000030

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