CV Sciences Q3 revenue $4.1M (+9% YoY); margin expands; signs LOI for European acquisition

CV Sciences, Inc.

2023-Q3 EPS reported $0.03 revenue$12,203,000

Revenue $4.1M, +9% YoY from $3.8M; gross margin 45.1% vs 41.6%.
Operating loss narrowed to $0.4M from $0.9M; adjusted EBITDA -$0.4M vs -$1.2M.
Cash balance $1.6M (up from $0.6M end 2022); operating cash flow $2.4M (incl. $2.5M ERC).
Signed non-binding LOI to acquire a plant-based food company in Europe as part of new M&A strategy.
Maintained #1 hemp extract brand in natural retail; launched PlusCBD Reserve Sleep 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 0.95

CV Sciences, Inc. reported the quarter ended September 30, 2023 results: revenue $4.1 million.

Period: the quarter ended September 30, 2023
Revenue: $4.1 million
Result: reported results

Exact text from the filing

products, today announced its financial results for the quarter ended September 30, 2023. Third Quarter 2023 and Recent Financial and Operating Highlights • Increased revenue to $4.1 million for the third quarter 2023 compared to $3.8 million for third quarter 2022 and a sequential improvement from $4.0 million for the second quarter 2023; • Recognized gross margin

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Source: SEC EDGAR

accession 0001510964-23-000036

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