cbdMD, Inc. - YCBD STOCK NEWS

Adara Acquisition Corp. has successfully closed its initial public offering, raising $115 million by selling 11.5 million units at $10 each, including an additional 1.5 million units from an over-allotment option. The units are listed on NYSE American under the ticker symbol 'ADRA.U'. The company, sponsored by cbdMD, Inc. and Blystone & Donaldson, aims to identify potential merger or acquisition targets in the consumer products sector. Each unit includes one share of Class A common stock and half a warrant to purchase additional shares at $11.50 each.

cbdMD, Inc. (NYSE American: YCBD) announced the launch of its Paw CBD pet product line's first national TV advertising campaign during Puppy Bowl XVII on February 7, 2021. This initiative positions Paw CBD as the only featured CBD company in the program, reaching an audience of 2.5 million adults aged 18-49. Paw CBD, known for its THC-free, veterinarian-formulated products, continues to expand its presence in retail, with new agreements with Save Mart Companies adding 100 new locations in California and Nevada. The campaign aims to enhance brand recognition among pet owners.

cbdMD, Inc. (NYSE American: YCBD) reported strong financial results for Q1 FY 2021, with net sales increasing by 22% year-over-year to $12.3 million. Gross profit margin improved to 72.2%, up from 63.5% in the previous quarter. E-commerce sales soared 41% to $9.7 million, and Paw CBD net sales grew by 83% to $1.5 million. Operating expenses decreased by 15% to $10.7 million, while the loss from operations fell 71% to $1.8 million. However, the net loss attributable to shareholders was $9.5 million, primarily due to a non-cash contingent liability related to previous acquisitions.

cbdMD, Inc. (NYSE American: YCBD) has retained Dr. Sibyl Swift, a former FDA official, as a regulatory consultant. Dr. Swift will oversee regulatory initiatives and prepare products for certifications, emphasizing cbdMD's commitment to quality and safety. With a notable background at the FDA and the Natural Products Association, Dr. Swift's expertise aims to enhance cbdMD's compliance and product standards. The move signifies cbdMD's strategy to align with regulatory requirements and strengthen market position in the CBD industry.

cbdMD, Inc. (NYSE American: YCBD) announced a conference call scheduled for February 9, 2021, at 4:15 p.m. ET to discuss its Q1 2021 financial results and business updates. Investors can join the call using domestic dial-in number 1-888-267-2822 or international number 1-973-528-0011. A replay will be available through March 11, 2021 using the passcode 39768. The company is recognized for its extensive line of THC-free CBD products, available through various retail outlets and online.

cbdMD announced a renewed sponsorship with rally driver Ken Block, enhancing brand visibility in his racing events. Block will display the cbdMD logo on his fire suit and rally car while promoting the brand through various marketing initiatives. He expressed confidence in cbdMD products, integrating them into his health regimen and opting for part of his sponsorship in the company's stock. cbdMD aims to leverage Block's 8 million social media followers to boost awareness of its CBD offerings for athletes and everyday users.

cbdMD, Inc. (NYSE American: YCBD, YCBDpA) has launched a new beauty and skincare line called cbdMD Botanicals, featuring 15 luxury products. The line aims to combine cbdMD’s patented CBD formula with all-natural ingredients, promoting a vegan and gluten-free approach. Products range from facial oils and serums to moisturizers and masks. The launch is poised to position cbdMD in the expanding global beauty and skincare market, aiming to meet consumer demand for natural, high-quality options.

cbdMD, Inc. (NYSE American: YCBD) has announced the launch of its direct-to-consumer operations in the United Kingdom, featuring a dedicated website for U.K. customers. This expansion follows a partnership with Ultra Sport EU for comprehensive distribution. U.K. consumers can now purchase cbdMD's popular products, including CBD oil tinctures, softgel capsules, and gummies, with fulfillment from a local warehouse. co-CEO Martin Sumichrast emphasized the growing demand for CBD products globally, positioning this launch as a significant growth opportunity in the U.K. market.