CBD of Denver Achieves 26% Revenue Growth and Returns to Positive Operating Income in 2024
Rhea-AI Summary
CBD of Denver (OTC Pink: CBDD) reported strong financial results for fiscal year 2024, with revenue increasing 26% to $3.75 million from $2.98 million in 2023. The growth was primarily driven by the company's wholesale CBD division performance.
Key financial achievements include a return to positive operating income with a $338,000 year-over-year improvement, and a 58% reduction in operating expenses. The company maintained a cleaner capital structure with no new convertible debt issuance during the year, while improving shareholders' equity.
The company announced a strategic repositioning as a dynamic holding company, focusing on incubating and accelerating innovative businesses in the tech sector. Future opportunities will be explored in digital payments, blockchain, AI, and other technology-driven solutions, marking a shift from its traditional CBD focus.
Positive
- Revenue grew 26% to $3.75 million in 2024
- Returned to positive operating income with $338,000 improvement
- Operating expenses reduced by 58%
- No new convertible debt issued, maintaining cleaner capital structure
- Improved shareholders' equity
Negative
- Significant strategic shift away from core CBD business introduces execution risk
News Market Reaction 1 Alert
On the day this news was published, CBDD declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Denver, Colorado--(Newsfile Corp. - March 31, 2025) - CBD of Denver, Inc. (OTC Pink: CBDD), a diversified holding company, today announced key financial highlights for the fiscal year ended December 31, 2024, demonstrating strong revenue growth and a return to positive operating income.
2024 Highlights:
Revenue grew to
Operating income turned positive, improving by more than
Operating expenses were reduced by
No new convertible debt was issued during the year, maintaining a cleaner capital structure.
Shareholders' equity improved, further stabilizing the balance sheet.
"We're proud of the progress we made in 2024," said Jan Schwager, CEO of CBD of Denver. "With strong top-line growth and significant cost savings, we've created a leaner, more agile company that is now well-positioned to pursue new opportunities in tech-driven sectors."
The Company remains focused on expanding its revenue base, maintaining financial discipline, and creating long-term shareholder value.
New Strategic Alignment
CBD of Denver is repositioning itself as a dynamic holding company focused on incubating and accelerating a broad range of innovative businesses, with an emphasis on the tech sector. Building on its operational and financial turnaround, the company will explore opportunities across digital payments, blockchain, AI, and other scalable technology-driven solutions. This strategic shift reflects CBD of Denver's long-term vision to create a diversified portfolio of forward-thinking ventures that can deliver sustainable value to shareholders.
About CBD of Denver, Inc.
CBD of Denver, Inc. is focused on acquiring profitable assets at attractive valuations to create value for shareholders. The company's team is dedicated to sourcing high-margin, innovative products that align with its values.
For inquiries, please contact Investor Relations: info@cbdofdenverinc.com.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/246723
FAQ
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