Welcome to our dedicated page for cbdMD news (Ticker: YCBD), a resource for investors and traders seeking the latest updates and insights on cbdMD stock.
cbdMD, Inc. (NYSE American: YCBD) is a premier provider of high-quality, hemp-derived cannabidiol (CBD) products. Founded in 2015 and headquartered in Charlotte, North Carolina, cbdMD has quickly become one of the most highly trusted and recognized names in the CBD industry. The company offers a broad range of CBD products under its flagship brand cbdMD, as well as its pet-focused brand Paw CBD and its newly launched ATRx Labs line of functional mushroom supplements.
The company's product portfolio includes CBD tinctures, gummies, topicals, capsules, bath bombs, bath salts, sleep aids, and veterinarian-formulated pet CBD products like tinctures, chews, and topicals. It has built a robust distribution network, leveraging its own e-commerce platform, third-party online marketplaces, wholesalers, and a variety of brick-and-mortar retailers across the United States.
In recent developments, cbdMD has introduced innovative products such as the THCV+CBG Energy Softgels, which combine the potency of two dynamic cannabinoids with caffeine and B12 to enhance energy, focus, and clarity. The company's dedication to innovation is also evident in the launch of its CBD+CBG Oil Tincture and the introduction of a new Vice President of Wholesale Sales to expand its market reach.
Financially, cbdMD has been proactive in securing funding to support its growth. Recently, the company entered a securities purchase agreement, raising $1.25 million in gross proceeds to bolster working capital and support the national rollout of its ATRx Labs functional mushroom products. Despite reporting operational losses, cbdMD has implemented cost-cutting measures and strategic initiatives aimed at achieving profitability and enhancing shareholder value.
cbdMD's latest product,
cbdMD, Inc. (NYSE American: YCBD) announced on October 7 the launch of cbdMD Therapeutics, a research division partnering with the University of Mississippi's National Center for Natural Products Research. The collaboration focuses on identifying and patenting novel cannabinoids for therapeutic use. Research will explore minor cannabinoids' chemistry, biology, and receptor activity, commencing in Fall 2021. Dr. Sibyl Swift emphasizes that this work sets a new standard in the cannabinoid industry, aiming for significant consumer benefits.
cbdMD, Inc. has entered a three-year exclusive partnership with Troon, the largest golf management company, to promote cbdMD products across over 600 affiliated facilities worldwide. This collaboration aims to enhance distribution opportunities for cbdMD's renowned CBD products, leveraging Troon's extensive network in the golf sector. The partnership features marketing initiatives including displays for retail locations, aiming to engage millions of golfing enthusiasts. This strategic move aligns with cbdMD's goal to expand its market reach, leveraging its brand ambassadors, including professional golfers.
cbdMD, Inc. (NYSE American: YCBD) has announced the launch of its new full spectrum product line, which includes tinctures and softgels with trace THC levels compliant with the 2018 Farm Bill. This expansion marks a significant milestone for the company, as full spectrum products account for over 50% of the total CBD market, according to the Brightfield Group. The introduction of these new offerings aims to broaden cbdMD's customer base while maintaining its commitment to THC-free options. Current available products can be found on cbdMD.com.
cbdMD, Inc. (NYSE American: YCBD) has partnered with four top CrossFit athletes, including 2021 champion Justin Medeiros and two-time champion Annie Thorisdottir, to enhance its presence in the fitness sector. This announcement follows their role as the Official CBD Partner of the 2021 NOBULL CrossFit Games. The partnerships aim to reach over three million Instagram followers and increase product awareness within the CrossFit community, which comprises around four million members globally.
cbdMD, Inc. (NYSE American: YCBD) has launched a full line of CBD drink mixes, available in four flavors: Strawberry Kiwi, Lemonade, Peach, and Fruit Punch. Each packet contains 25 mg of CBD and added vitamin C, utilizing Nano-Encapsulated Technology for rapid absorption. The new products aim to simplify CBD consumption for busy lifestyles and are designed for on-the-go use. The company anticipates introducing more innovative products this Fall, indicating a commitment to product diversification and customer convenience.
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.
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