Welcome to our dedicated page for Cv Sciences news (Ticker: CVSI), a resource for investors and traders seeking the latest updates and insights on Cv Sciences stock.
CV Sciences, Inc. (CVSI) operates at the intersection of scientific innovation and natural wellness, developing hemp-derived supplements and plant-based nutrition solutions. This page serves as the definitive source for official company announcements, research breakthroughs, and operational developments.
Investors and industry stakeholders will find curated updates spanning regulatory milestones, product launches, and peer-reviewed studies validating CVSI's formulations. The archive includes earnings reports, manufacturing expansions, and clinical trial outcomes supporting their +PlusCBD and Cultured Foods brands.
All content undergoes rigorous verification to ensure alignment with financial disclosure standards and scientific accuracy. Users can efficiently track the company's progress in obtaining self-affirmed GRAS statuses, scaling global distribution networks, and advancing pet wellness innovations.
Bookmark this resource for real-time access to CV Sciences' advancements in cannabinoid research, nutraceutical safety protocols, and strategic partnerships within the consumer health sector. Regularly updated to reflect the company's evolving role in science-driven wellness solutions.
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.
