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CV Sciences, Inc. (CVSI) is a consumer wellness company dedicated to improving health through the integration of science and nature. Specializing in hemp extracts and science-backed natural ingredients, CV Sciences offers a range of products such as hemp extracts, softgels, and plant-based foods. The company's commitment to consumer well-being is evident in its mission to make healthy people healthier. With a focus on research-supported, plant-based alternatives, CV Sciences aims to provide high-quality products that cater to the well-being of both humans and pets. The recent launch of +PlusCBD™ Pet wellness treats, including the Pet Hip and Joint Health Chews and Pet Calming Care Chews, showcases CV Sciences' dedication to innovation and safety, validated by the National Animal Supplement Council (NASC). These premium CBD-infused chews, designed to support pet health, are crafted using organic hemp-derived CBD and a blend of antioxidants, anti-inflammatory agents, and essential supplements. The safety, efficacy, and quality of each product are ensured through rigorous testing by independent laboratories, aligning with NASC's stringent standards.
CV Sciences' strategic acquisitions, such as Elevated Softgels, further enhance its operational capabilities, allowing for in-house manufacturing and new product development. By leveraging Elevated Softgels' manufacturing expertise, CV Sciences aims to streamline production, increase operational efficiency, and expand its product offerings. The company's financial performance reflects its resilience and growth trajectory, with sequential revenue increases, improved gross margins, and strategic investments driving long-term value creation. As CV Sciences continues to innovate and expand its product portfolio, it remains committed to delivering science-backed, plant-based solutions that promote holistic well-being.
CV Sciences (OTCQB: CVSI) has launched +PlusHLTH, a new line of cannabinoid-free supplements designed to enhance focus, mood, energy, and metabolism. The product line includes three variations:
1. Clarity: A cognitive enhancer with DMAE, Huperzine A, Rhodiola, and Lion's Mane.
2. Peace: A stress-relief formula with Holy Basil, Lemon Balm, St. John's Wort, and L-Theanine.
3. ReShape: A metabolism and weight management supplement with Berberine, OEA, and Cinnamon.
The new products are available nationwide at select retailers and on the company's website. CEO Joseph Dowling stated that +PlusHLTH fills a growing demand for natural supplements addressing key wellness challenges, offering a cannabinoid-free alternative or complement to their CBD-based product line.
CV Sciences, Inc. (OTCQB:CVSI) reported its Q2 2024 financial results, showing stable revenue of $4.0 million, consistent with Q2 2023 and Q1 2024. The company achieved a gross margin of 47.0%, its best in 13 quarters, up from 43.3% in Q2 2023. CV Sciences maintained its position as the top-selling hemp extract brand in natural product retail sales. The company acquired Elevated Softgels and appointed Maxim Group as a financial advisor. Despite an operating loss of $0.6 million, this was an improvement from the $1.1 million loss in Q2 2023. CV Sciences reported negative adjusted EBITDA of $6,000, close to break-even, compared to $0.9 million in Q2 2023. The company's cash balance stood at $0.5 million at quarter-end, down from $1.3 million at the end of 2023.
CV Sciences (OTCQB: CVSI), a leading consumer wellness company specializing in hemp extracts and natural products, has announced its plans to release financial results for the second quarter of 2024 on Tuesday, August 13, 2024, before the stock market opens. The company will host a conference call with investors at 7:00 a.m. Pacific Time on the same day.
Investors can access the webcast through the company's Investor Relations website or directly via a provided link. For those preferring to participate by phone, U.S. callers can dial (877) 407-0784, while international callers should use (201) 689-8560. A replay of the call will be available until August 20, 2024.
CV Sciences (OTCQB: CVSI) announced its first quarter 2024 financial results.
The company generated $4.0 million in revenue, a 2.6% rise from the previous quarter but a 4% year-over-year decline. Its gross margin improved to 46.3% compared to 43.0% in Q1 2023 and 45.8% in Q4 2023. However, the cash balance dropped to $0.7 million from $1.3 million at the end of 2023. The company reported a $0.6 million operating loss, partly due to decreased B2B sales, although B2C sales rose by 3%. The acquisition of Elevated Softgels was highlighted as a strategic move for future growth. CV Sciences remains the top-selling hemp extract brand in natural product retail channels.
CV Sciences (OTCQB:CVSI) has acquired Elevated Softgels, a GMP-certified and FDA-registered manufacturer of encapsulated softgels and tinctures. Elevated Softgels' flexible production capabilities allow CV Sciences to in-source production of key products, potentially leading to significant cost savings. The acquisition involves a total consideration of up to $1,000,000, including a cash payment of $100,000, shares valued at $700,000, and up to $200,000 in performance-based earn-outs. Elevated Softgels, now a wholly-owned subsidiary, is expected to contribute to immediate growth and long-term shareholder value.
CV Sciences, Inc. will announce its first-quarter 2024 financial results on May 14, 2024. The company specializes in hemp extracts and natural products. The conference call with the investment community will take place at 7:00 a.m. Pacific Time on the same day. Interested investors can access the webcast on the Investor Relations section of the company's website, and a telephone replay will be available.
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