cbdMD Reports YoY Dip In Q1 Net Sales, Shrinks Operating Loss, Expands Into Hemp And Mushroom Products Markets
Portfolio Pulse from Jelena Martinovic
cbdMD, Inc. (NYSE:YCBD) reported a year-over-year decrease in Q1 net sales to $5.37 million but reduced its operating loss to $1.1 million. The company launched hempMD and ATRx Labs brands, entering the hemp and functional mushroom markets. It secured financing for the national rollout of ATRx Labs products, with positive early reception. Operating expenses decreased, and direct-to-consumer sales constituted 82.3% of total net sales. The company's stock traded 4.11% lower at $0.7 per share.
February 14, 2024 | 3:03 pm
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NEUTRAL IMPACT
cbdMD reported a decrease in Q1 net sales but reduced its operating loss and expanded into new markets with the launch of hempMD and ATRx Labs, despite a 4.11% drop in stock price.
The decrease in net sales and the drop in stock price suggest a negative short-term impact. However, the reduction in operating loss and strategic expansion into new markets could offset this, leading to a neutral short-term outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100