cbdMD Reports Q3 2023 Performance: Net Loss Improves, Focus On Cost Management & Strategic Growth
Portfolio Pulse from Joana Scopel
cbdMD, Inc. (AMEX:YCBD) (NYSE:YCBD) reported Q3 2023 financial results, showing improved net loss and focus on cost management and strategic growth. Net sales were flat from Q2 2023 at $6.1 million, down 28% YoY. Direct-to-consumer sales decreased by 26% from 2022, while e-commerce sales increased by 2.3%. The company reported a net loss of $1.7 million, a significant improvement from the $31.6 million net loss in Q3 2022. The company also completed a 1-for-45 reverse stock split and raised $2.8 million in a public offering.
August 10, 2023 | 11:25 pm
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POSITIVE IMPACT
cbdMD's Q3 2023 results show improved net loss and strategic growth focus. Despite a decrease in net sales, the company's cost management efforts and capital market activities may positively impact the stock.
The company's improved net loss and strategic growth focus, along with its capital market activities such as the reverse stock split and public offering, indicate a potential positive impact on the stock. Despite a decrease in net sales, the company's cost management efforts may also contribute to a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100