cbdMD, Inc. - YCBD STOCK NEWS

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.

cbdMD, Inc. (NYSE American: YCBD, YCBDPA) will host a conference call on December 17, 2021, at 4:15 p.m. ET to discuss its September 30, 2021 fourth quarter and fiscal year-end financial results and business progress. The call follows a technical delay. Interested participants can join via domestic and international numbers provided. A teleconference replay will be available until January 15, 2022 and a webcast replay will be accessible until December 17, 2022.

cbdMD, Inc. (NYSE American: YCBD) has initiated a preclinical human study in collaboration with the University of South Carolina. The study aims to evaluate the effects of cbdMD’s proprietary cannabinoid blend on sleep, mood, and pain in healthy individuals, while also assessing key safety markers. The outcomes are intended to bolster the efficacy and safety profiles of cbdMD products for regulatory submissions. The company anticipates that findings from this study will facilitate future drug research and applications within its therapeutics division.

cbdMD, Inc. announced a conference call on December 16, 2021, at 4:15 p.m. Eastern Time to discuss its financial results for the fourth quarter and fiscal year ending September 30, 2021. This session will cover key business developments, and there are options for both domestic and international callers to join. The company is recognized for its extensive line of THC-free CBD products and is committed to transparency in its financial performance and future outlook.

cbdMD, Inc. (NYSE American: YCBD, YCBDpA) has appointed Dave Johnson as Senior Vice President of Business Development. With over 30 years in the consumer goods sector, including 20 years at PepsiCo (NASDAQ: PEP), Johnson will spearhead cbdMD's initiatives in expanding retail distribution across the U.S. He believes the CBD industry will experience significant growth in the next two years, positioning cbdMD to capitalize on this trend through its brands, including cbdMD and Paw CBD, and the new cbdMD Botanicals line.