cbdMD, Inc. - YCBD STOCK NEWS

cbdMD, Inc. (NYSE American: YCBD) releases its 1500 mg Tropical Mix Gummies, the latest addition to its NSF Certified for Sport® line of CBD products.

The gummies, containing 50 mg of CBD per serving, expand the company's market-leading range of Certified for Sport® products. cbdMD emphasizes its commitment to providing athletes and professionals with THC-free options that won't trigger drug tests. With the largest selection and the highest potency at the lowest prices, cbdMD aims to position itself as the premier choice for consumers. The certification assures users that products meet rigorous safety standards, allowing peace of mind for various professionals, including first responders and educators.

cbdMD, Inc. (NYSE American: YCBD) has announced the expansion of its product offerings at GNC, adding 11 new SKUs to its existing lineup of CBD products, now available in over 840 stores nationwide. This follows a successful partnership that began in August 2020. The new products include various ingestibles like CBD gummies, sleep aids, softgels, and tinctures, enhancing consumer accessibility to CBD wellness solutions. This initiative is aimed at increasing brand visibility and meeting growing consumer demand in the wellness sector.

cbdMD, Inc. (NYSE American: YCBD) announced a Citizen's Petition filed by the Natural Products Association with the FDA, requesting the removal of the drug exclusion for CBD. This move aims to create market clarity and enable cbdMD to submit a New Dietary Ingredient Notification, which could help expand its sales across mass retail channels in the U.S. The company stresses its commitment to safety and quality, supporting its petition with an extensive dossier that meets FDA requirements. The UK and EU agencies are also reviewing the company’s safety data for its products.

cbdMD, Inc. has announced validation of its Novel Food application from the UK's Food Standards Agency, marking it as the first American CBD brand to achieve this milestone. The company anticipates similar validation from the European Food Safety Authority soon. Although over 800 applications were submitted, cbdMD's proprietary toxicological data allowed it to stand out, enabling sales of its validated products in the UK. This validation supports future studies and regulatory approvals in international markets, enhancing its market position in the growing CBD industry.

cbdMD, a prominent CBD company, reported a 26% decline in net sales for the December 2021 quarter, falling from $12.3 million to $9.3 million year-over-year. The company attributes this decrease to weak CBD demand and lack of FDA regulatory clarity. Despite generating $118.7 million in net sales over the past three years, gross profit margin also decreased to 54.4% from 72.1%. In response, cbdMD is implementing cost-cutting measures to reduce over $10 million in operating expenses while preparing a Citizens Petition for regulatory action.

cbdMD, Inc. has become the first CBD company to receive the NSF Certified for Sport® designation, allowing its products to be accepted by major sports leagues in the USA and internationally. Four of its flagship products, including CBD oil softgels, successfully passed rigorous safety and contaminant tests by NSF International. This certification assures athletes and consumers of the product's quality, safety, and compliance with Good Manufacturing Practices. The program aims to help consumers make informed supplement choices, especially in competitive sports.

cbdMD, Inc. (NYSE American: YCBD) will host a conference call on February 10, 2022, at 4:15 p.m. ET to discuss its first quarter financial results for the period ending December 31, 2021. Interested parties can join domestically by calling 888-506-0062 and internationally at 973-528-0011, using access code 623328. A replay will be available until March 12, 2022, with domestic and international dial-in options provided. The conference will be accessible via a webcast that remains available until February 10, 2023.

cbdMD announced its fourth quarter and fiscal year results for the period ending September 30, 2021. Despite a challenging market with only 2.5% expected growth in the US CBD sector, cbdMD's net sales increased by 6% year-over-year to $44.5 million. Gross profit margin improved to a record 67%. However, the company reported a loss from operations of $19.6 million and a net loss of approximately $25.9 million. The fourth quarter saw a 16% decline in net sales to $9.8 million. cbdMD aims to outpace industry growth and achieve positive adjusted EBITDA, withdrawing previous sales guidance.