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cbdMD (YCBD) investor relations material

cbdMD Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary14 Aug, 2025

Executive summary

  • Net sales for Q3 2025 were $4.6M, down 10.9–12% year-over-year, with a net loss attributable to common shareholders of $1.2M and operating loss of $0.9M; nine-month net loss reduced to $1.3M from $3.5M prior year.

  • Major restructuring included a reverse stock split and conversion of Series A Preferred Stock to common, eliminating $6.7M in accrued dividends and improving equity and NYSE American compliance.

  • Marketing overhaul and digital team restructuring led to reduced customer acquisition costs and early signs of new customer growth since July.

  • Oasis beverage brand expanded to seven states, with shipments scheduled for August and in-market availability in September, supported by new retail and distributor agreements.

  • Regulatory pressures at state and federal levels created market confusion, impacted wholesale business, and required increased compliance focus.

Financial highlights

  • Total net sales for Q3 were $4.6M, down 10.9–12% year-over-year; nine-month sales were $14.5M, down 3%.

  • Gross margin for Q3 was 61–61.5%, down from 65.8–66% prior year, with cost of sales rising as a percentage of revenue.

  • E-commerce accounted for 77.7–78% of sales, with wholesale at 22–22.3%; both channels declined year-over-year.

  • Operating loss for Q3 was $0.9M, up from $0.38–0.4M prior year; adjusted EBITDA loss was $624K, compared to $84–90K prior year.

  • Cash and equivalents were $1.1M, with working capital of $2M as of June 30, 2025; book value of equity increased to $6.1M post-preferred conversion.

Outlook and guidance

  • Management expects revenue recovery in Q4, driven by Oasis distribution expansion and improved marketing execution.

  • Priorities include direct-to-consumer growth, expanding wholesale in favorable states, operational discipline, and evaluating strategic opportunities.

  • Gross margin is expected to remain in the lower 60% range near-term, with ongoing focus on improvement.

  • Regulatory pressures are expected to persist, requiring continued investment in compliance and advocacy.

  • The company is focused on achieving profitability and maintaining NYSE American listing compliance.

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Frequently asked questions

cbdMD Inc produces and markets cannabidiol (CBD) products derived from hemp. The company offers wellness and personal care items including tinctures, capsules, topicals, and pet products. It distributes products through e-commerce and retail channels. The company is headquartered in Charlotte, North Carolina, and its shares are listed on the NYSE American.

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