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Charlotte's Web (CWBHF) investor relations material
Charlotte's Web Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Q3 2025 revenue was $11.5M, down 8.6% year-over-year, mainly due to B2B model changes and lower B2B sales, partially offset by DTC growth.
Net loss for Q3 2025 was $5.8M ($0.04/share), flat compared to Q3 2024, with a year-to-date net loss of $18.3M, improved from $26.5M prior year.
Gross margin for Q3 2025 was 38.9%, down from 53.0% in Q3 2024, impacted by a B2B chargeback reserve and higher production costs.
The MLB Promotional Rights Agreement was terminated, resulting in a $2.3M gain and reduced future obligations.
The company invested in R&D, launched CBN gummies, expanded sleep and cognitive wellness products, and formed a Scientific Advisory Board.
Financial highlights
Q3 2025 revenue: $11.5M (down 8.6% YoY); nine months revenue: $36.6M (down 1.2% YoY).
Gross profit for Q3 2025: $4.5M (38.9% margin); nine months: $16.7M (45.7% margin).
SG&A expenses for Q3 2025: $9.7M (down 23.3% YoY); nine months: $31.4M (down 26.5% YoY).
Cash and equivalents at September 30, 2025: $9.8M; working capital: $25.6M; total assets: $81.6M; total liabilities: $72.4M.
Adjusted EBITDA improved to $(2.1)M from $(3.9)M YoY.
Outlook and guidance
Management expects further SG&A reductions, improved efficiency, and annualized cost savings of ~$9M in 2026.
Gross margin is expected to rebound to the 50% range in Q4 2025 as in-house production scales.
Liquidity is expected to be sufficient for the next 12 months, with ongoing cost control and potential capital raises.
Multiple pathways to positive cash flow in 2026 are supported by a leaner cost structure and steady demand.
Regulatory changes in several states may impact product formulations, labeling, and revenue.
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Next Charlotte's Web earnings date
Q4 202519 Mar, 2026
Next Charlotte's Web earnings date
Q4 202519 Mar, 2026
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Frequently asked questions
Charlotte's Web Holdings Inc. is a producer and distributor of hemp-derived wellness products. The company specializes in the cultivation and manufacturing of cannabidiol (CBD) products, including oils, capsules, gummies, and topicals. These products are designed to support health and wellness through natural solutions. Charlotte's Web operates primarily in the United States, offering its products through retail stores and online platforms. The company focuses on maintaining quality and consistency through vertical integration, from hemp cultivation to product distribution. The company is headquartered in Louisville, Colorado, and its shares are listed on the OTCQX.
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