Quarterly ResultMay 14, 2026, 04:14 PM
cbdMD Q2 Net Loss $(1.08)M; Sales Up 8.05%; Going Concern Warning
AI Summary
cbdMD reported a net loss of $(1.08) million for the six months ended March 31, 2026, an increase from $(0.47) million in the prior year, despite an 8.05% rise in total net sales to $10.66 million. The company's accumulated deficit reached approximately $180.6 million, leading to a substantial doubt about its ability to continue as a going concern. During the period, cbdMD completed the acquisition of Bluebird Botanicals and issued Series C Preferred Stock.
Key Highlights
- Net loss for six months ended March 31, 2026, was $(1,081,111), up from $(465,662) YoY.
- Total net sales for six months increased 8.05% to $10,656,964 from $9,862,902 YoY.
- Gross profit for six months decreased 1.6% to $6,258,213 from $6,359,973 YoY.
- Cash and cash equivalents increased to $2,638,243 at March 31, 2026, from $2,261,242.
- Cash used in operating activities for six months increased to $(1,534,964) from $(507,426) YoY.
- Acquired Bluebird Botanicals for $936,992, primarily through an all-stock purchase.
- Issued Series C Preferred Stock, generating $2,026,088 in proceeds.
- E-commerce sales were $7,398,085 (69.4%) and wholesale sales $3,258,879 (30.6%).