cbdMD, Inc. - YCBD STOCK NEWS

cbdMD reported third-quarter results for fiscal 2021 with net sales of $10.6 million, steady year-over-year, marking record trailing twelve-month net sales over $46.4 million.

Gross profit margin improved to approximately 68%, up from 65% a year earlier. Despite a 4.9% decline in e-commerce sales, wholesale sales increased by 13.7%.

Operating expenses surged 40.6% to $13.9 million, resulting in a loss from operations of $6.7 million. The company adjusted its net sales guidance for Q1 fiscal 2022, estimating $14.9 million to $15.5 million.

cbdMD, Inc. (NYSE American: YCBD) has signed a binding letter of intent with IM Cannabis Corp. (CSE: IMCC) for the exclusive rights to import and market its products in Israel, pending legislative approval. The collaboration aims to tap into the projected $475 million Israeli CBD market by 2025. This partnership reflects cbdMD's commitment to expanding its international presence, with operations in over 30 countries. CEO Martin Sumichrast emphasized the potential to leverage IMC's distribution capabilities to reach new consumers.

cbdMD, Inc. (NYSE American: YCBD) announced a conference call to discuss its financial results for the third quarter ended June 30, 2021. The call is scheduled for August 12, 2021, at 4:15 p.m. ET. Interested parties can join via domestic at 1-888-506-0062 or international at 1-973-528-0011. A replay will be available until August 12, 2022, using the passcode 42434. The company highlights its extensive portfolio of THC-free CBD products, including over 130 SKUs across various categories.

cbdMD, Inc. (NYSE American: YCBD) has signed a letter of intent to acquire DirectCBDOnline.com from Twenty Two Capital, LLC. This acquisition aims to enhance cbdMD's direct-to-consumer e-commerce capabilities and gain insights into consumer trends within the CBD market. John Wiesehan III, co-founder of DirectCBDOnline.com, will be appointed as Chief Revenue Officer post-acquisition. The transaction is expected to finalize by July 31, 2021, but is subject to customary closing conditions which could affect completion.

cbdMD, Inc. (NYSE American: YCBD) announced that its cbdMD Therapeutics division is in discussions with a prominent US cannabinoid research institute to explore novel cannabinoids for therapeutic use. The company plans to finalize an agreement and start studies by Fall 2021, focusing on data for its research pipeline. The research aims to support clinical trials and potential FDA applications, which could enable cbdMD to make scientifically backed claims for its products. This initiative is expected to boost brand reputation and expand distribution opportunities across various channels.

cbdMD, Inc. (NYSE American: YCBD) has successfully closed its public offering, raising $16.5 million in gross proceeds. The company sold 2,200,000 shares of its 8.0% Series A Cumulative Convertible Preferred Stock at a price of $7.50 per share, including an over-allotment option of 286,900 shares. The net proceeds are intended for working capital. ThinkEquity served as the underwriter for this offering.

cbdMD, Inc. (NYSE American: YCBD, YCBDpA) has priced its public offering of 1,913,100 shares of 8.0% Series A Cumulative Convertible Preferred Stock at $7.50 each, aiming to raise gross proceeds of $14,348,250. Closing is expected around July 1, 2021, pending customary conditions. Shares are convertible at $6.00 per share unless certain trading conditions are met. The company plans to use net proceeds for working capital and general corporate purposes. ThinkEquity is the book-running manager for this offering.

cbdMD, Inc. (NYSE American: YCBD) announced the launch of its new subsidiary, cbdMD Therapeutics, which is collaborating with Colorado State University to study the effects of its proprietary cannabinoid blend on dogs with osteoarthritis. This research aims to provide data on the efficacy of their products in alleviating pain and improving joint mobility in affected dogs. The study is expected to conclude by Spring 2022. cbdMD's Paw CBD brand is recognized as a leading name in CBD pet products, targeting a significant market of dogs suffering from this common condition.

cbdMD, a leading CBD brand, reported a strong second quarter for fiscal 2021 with net sales reaching $11.8 million, a 26% increase year-over-year. E-commerce sales rose by 23.3% to $8.4 million, while wholesale sales grew 31.3% to $3.4 million. Despite achieving a gross profit margin of 69%, the company recorded a net loss of approximately $13.1 million or ($0.24) per share, largely due to an $8.9 million increase in non-cash liabilities. The company also expanded into the beauty sector and invested in ADRA Acquisitions. A conference call is scheduled for May 12, 2021.