CV Sciences, Inc. Reports Second Quarter-End 2026 Financial Results
Rhea-AI Summary
CV Sciences (OTCQB:CVSI) reported second quarter 2026 revenue of $3.0 million, down 17.5% from $3.6 million a year earlier and slightly below $3.2 million in Q1 2026. Gross margin was 48.6%, versus 50.9% in Q2 2025 and 48.9% in Q1 2026.
Operating expenses fell 11.3% year over year to $1.7 million, contributing to an operating loss of $0.3 million compared with a $0.1 million loss in Q2 2025. Net loss widened to $0.8 million from $0.3 million, while adjusted EBITDA was a $0.1 million loss versus positive $0.1 million last year. Cash at June 30, 2026 was $0.27 million.
The company said 44% of Q2 2026 net revenue came from 52 new products launched since January 1, 2023, and it expanded its +PlusHLTH™ portfolio and launched PlusHLTH.com. According to CV Sciences, a recent U.S. Senate Continuing Resolution delays restrictive hemp-derived cannabinoid provisions, providing additional time to shape longer-term regulation.
Positive
- Q2 2026 operating expenses reduced 11.3% year over year to $1.7 million
- 44% of Q2 2026 net revenue from new products launched since January 1, 2023
- Q2 2026 gross margin maintained at 48.6%, only modestly below 50.9% in Q2 2025
- Six months ended June 30, 2026 generated positive operating cash flow of $0.1 million
- Common shares outstanding increased to 213.1 million, boosting stockholders’ equity to $1.6 million
- U.S. Senate Continuing Resolution H.R. 6500 delays restrictive hemp-derived rules, giving CV Sciences more regulatory runway
Negative
- Q2 2026 revenue declined 17.5% year over year to $3.0 million
- Total units sold in Q2 2026 decreased 14.9% versus Q2 2025, with minor price declines
- Q2 2026 net loss widened to $0.8 million from $0.3 million in Q2 2025
- Adjusted EBITDA turned negative at -$0.1 million versus +$0.1 million a year earlier
- Cash balance at June 30, 2026 was low at $0.27 million, down from $0.89 million a year earlier
- Other expense in Q2 2026 rose to $0.47 million, driven by convertible note-related items
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN DIEGO, CA / ACCESS Newswire / August 13, 2026 / CV Sciences, Inc. (OTCQB:CVSI) (the "Company", "CV Sciences", "our", "us" or "we"), a preeminent consumer wellness company specializing in hemp extracts and other proven science-backed, natural ingredients and products, today announced its financial results for the quarter ended June 30, 2026.
Second Quarter 2026 and Recent Financial, Operating and Regulatory Highlights
Generated revenue of
$3.0 million for the second quarter 2026 compared to$3.6 million for the second quarter 2025 and compared to$3.2 million for the first quarter 2026;Recognized gross margin of
48.6% for the second quarter 2026 compared to50.9% for the second quarter 2025 and compared to48.9% for the first quarter 2026;Cash balance of
$0.3 million at quarter and year end;Reduced operating expenses by
11.3% to$1.7 million for the second quarter 2026 compared to$2.0 million for the second quarter 2025, and by6.9% from$1.9 million in the first quarter 2026;Recognized an adjusted EBITDA loss of
$0.1 million for the second quarter 2026 compared to positive adjusted EBITDA of$0.1 million for second quarter 2025 and compared to an adjusted EBITDA loss of$0.1 million for the first quarter 2026;Expanded the +PlusHLTH™ portfolio with personalized wellness solutions for healthy aging;
Launched PlusHLTH.com, a new dedicated e-commerce platform strengthens the Company's strategy to build a leading science-backed health and wellness portfolio; and
U.S. Senate voted 61-32 to approve Continuing Resolution H.R. 6500, which delays the implementation of restrictive provisions for hemp-derived cannabinoid products, allowing valuable time to develop a longer-term solution and sensible regulatory framework for hemp-derived products.
"Our second quarter results reflect continued disciplined execution despite a challenging regulatory and consumer environment. While revenue remained under pressure, we maintained healthy gross margins, further reduced operating expenses, and continued to strengthen the financial foundation of the business. We believe these actions position us to improve profitability and generate positive cash flow as market conditions normalize," stated Joseph Dowling, Chief Executive Officer of CV Sciences. "During the quarter, we also expanded our +PlusHLTH™ portfolio with personalized wellness solutions designed to support healthy aging, further advancing our strategy to diversify beyond cannabinoids into broader science-based wellness categories. Looking ahead, we remain focused on disciplined capital allocation, operational excellence, and selectively pursuing strategic opportunities that strengthen our brands and create long-term shareholder value."
Operating Results - Second Quarter 2026 Compared to Second Quarter 2025
Sales for the second quarter 2026 were
We generated an operating loss of
Conference Call and Webcast
The Company will host a conference call and webcast to discuss these results today at 4:30 pm EDT/1:30 pm PDT. The webcast of the conference call will be available on the Investor Relations section of the Company's website at https://ir.cvsciences.com/news-events or directly at https://viavid.webcasts.com/starthere.jsp?ei=1769578&tp_key=ae0ce79bc9. Investors interested in participating in the live call can also dial (877) 407-0784 from the U.S. or international callers can dial (201) 689-8560. A telephone replay will be available approximately three hours after the call concludes, and will be available through Thursday, August 20, 2026, by dialing (844) 512-2921 from the U.S. or (412) 317-6671 from international locations, and entering confirmation code 13761707.
About CV Sciences, Inc.
CV Sciences, Inc. (OTCQB:CVSI) is a consumer wellness company specializing in nutraceuticals and plant-based foods. The Company's hemp extracts and other proven, science-backed, natural ingredients and products are sold through a range of sales channels from B2B to B2C. The Company's +PlusCBD™ branded products are sold at select retail locations throughout the U.S. and are the top-selling hemp-extract brand in the natural products market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. With a commitment to science, +PlusCBD™ product benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. +PlusCBD™ was the first hemp extract supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. The Company also produces non-cannabinoid supplements under its +PlusHLTH™ brand, with targeted formulations to optimize health, improve performance, and increase vitality. Our Cultured Foods™ brand provides a variety of
Forward Looking Statements
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risk and uncertainties. CV Sciences does not undertake any obligation to publicly update any forward-looking statements, except as required by applicable law. As a result, investors should not place undue reliance on such forward-looking statements.
Contact Information
ir@cvsciences.com
CV SCIENCES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands, except per share data)
Three Months Ended | Six Months Ended | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Product sales, net | $ | 2,985 | $ | 3,620 | $ | 6,180 | $ | 7,226 | ||||||||
Cost of goods sold | 1,535 | 1,776 | 3,168 | 3,724 | ||||||||||||
Gross profit | 1,450 | 1,844 | 3,012 | 3,502 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 18 | 50 | 36 | 80 | ||||||||||||
Selling, general and administrative | 1,733 | 1,925 | 3,595 | 4,064 | ||||||||||||
Benefit from reversal of accrued payroll taxes | - | - | - | (522 | ) | |||||||||||
Total operating expenses | 1,751 | 1,975 | 3,631 | 3,622 | ||||||||||||
Operating loss | (301 | ) | (131 | ) | (619 | ) | (120 | ) | ||||||||
Other expense (income): | ||||||||||||||||
Gain on extinguishment of debt | - | - | (20 | ) | (38 | ) | ||||||||||
Loss on debt conversion | 104 | - | 249 | - | ||||||||||||
Change in fair value of convertible notes | 364 | - | 471 | - | ||||||||||||
Interest expense, net | 1 | 130 | 94 | 281 | ||||||||||||
Total other expense | 469 | 130 | 794 | 243 | ||||||||||||
Loss before income taxes | (770 | ) | (261 | ) | (1,413 | ) | (363 | ) | ||||||||
Income tax expense | 5 | - | 5 | 7 | ||||||||||||
Net loss | $ | (775 | ) | $ | (261 | ) | $ | (1,418 | ) | $ | (370 | ) | ||||
Weighted average common shares outstanding, basic and diluted | 205,086 | 184,264 | 198,943 | 184,264 | ||||||||||||
Net loss per common share, basic and diluted | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | $ | (0.00 | ) | ||||
CV SCIENCES, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except per share data)
June 30, | December 31, 2025 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash | $ | 266 | $ | 278 | ||||
Accounts receivable, net | 348 | 402 | ||||||
Inventory | 3,965 | 4,087 | ||||||
Prepaid expenses and other | 300 | 366 | ||||||
Total current assets | 4,879 | 5,133 | ||||||
Property and equipment, net | 319 | 344 | ||||||
Right of use assets | 215 | 347 | ||||||
Intangibles, net | 62 | 76 | ||||||
Goodwill | 999 | 1,015 | ||||||
Other assets | 47 | 47 | ||||||
Total assets | $ | 6,521 | $ | 6,962 | ||||
Liabilities and stockholders' equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 1,059 | $ | 1,044 | ||||
Accrued expenses | 2,631 | 2,447 | ||||||
Current portion of operating lease liability | 218 | 247 | ||||||
Convertible notes, at fair value | 1,017 | - | ||||||
Current portion of long-term debt, net | 18 | 1,262 | ||||||
Total current liabilities | 4,943 | 5,000 | ||||||
Operating lease liability | - | 100 | ||||||
Debt, net | - | 387 | ||||||
Deferred tax liability | 7 | 7 | ||||||
Total liabilities | 4,950 | 5,494 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity | ||||||||
Preferred stock, par value | - | - | ||||||
Common stock, par value | 21 | 18 | ||||||
Additional paid-in capital | 90,881 | 89,330 | ||||||
Accumulated deficit | (89,357 | ) | (87,939 | ) | ||||
Accumulated other comprehensive income | 26 | 59 | ||||||
Total stockholders' equity | 1,571 | 1,468 | ||||||
Total liabilities and stockholders' equity | $ | 6,521 | $ | 6,962 | ||||
CV SCIENCES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
Six Months Ended | ||||||||
2026 | 2025 | |||||||
OPERATING ACTIVITIES | ||||||||
Net loss | $ | (1,418 | ) | $ | (370 | ) | ||
Adjustments to reconcile net loss to net cash flows provided by operating activities: | ||||||||
Depreciation and amortization | 45 | 140 | ||||||
Stock-based compensation | 296 | 250 | ||||||
Amortization of debt discount | 91 | 279 | ||||||
Loss on debt conversion | 26 | - | ||||||
Initial fair value of true-up convertible notes issued | 223 | - | ||||||
Change in fair value of convertible notes | 471 | - | ||||||
Amortization of right of use assets | 131 | 112 | ||||||
Gain on debt extinguishment | (20 | ) | (38 | ) | ||||
Benefit from reversal of accrued payroll tax | - | (522 | ) | |||||
Other | (12 | ) | 105 | |||||
Change in operating assets and liabilities: | ||||||||
Accounts receivable, net | 66 | (12 | ) | |||||
Inventory | 110 | 698 | ||||||
Prepaid expenses and other | 64 | 77 | ||||||
Accounts payable and accrued expenses | 177 | (390 | ) | |||||
Operating lease liabilities | (129 | ) | (123 | ) | ||||
Net cash flows provided by operating activities | 121 | 206 | ||||||
INVESTING ACTIVITIES | ||||||||
Purchases of property and equipment | (10 | ) | (89 | ) | ||||
Net cash flows used in investing activities | (10 | ) | (89 | ) | ||||
FINANCING ACTIVITIES | ||||||||
Proceeds from note payable | - | 1,200 | ||||||
Debt issuance costs related to note payable | (15 | ) | (82 | ) | ||||
Repayment of note payable | - | (686 | ) | |||||
Repayment of unsecured debt | (107 | ) | (119 | ) | ||||
Net cash flows provided by (used in) financing activities | (122 | ) | 313 | |||||
Effect of exchange rate changes on cash | (1 | ) | 2 | |||||
Net increase (decrease) in cash | (12 | ) | 432 | |||||
Cash, beginning of period | 278 | 454 | ||||||
Cash, end of period | $ | 266 | $ | 886 | ||||
Supplemental cash flow disclosures: | ||||||||
Interest paid | $ | 3 | $ | 4 | ||||
Income tax paid | $ | 6 | $ | 7 | ||||
Supplemental disclosure of non-cash transactions: | ||||||||
Conversion of convertible notes | $ | (1,257 | ) | $ | - | |||
Issuance of convertible notes | $ | 1,805 | $ | - | ||||
Services paid with common stock | $ | - | $ | 60 | ||||
Right of use asset financed by lease liabilities | $ | - | $ | 486 | ||||
Original issuance discount for note payable | $ | - | $ | (400 | ) | |||
CV SCIENCES, INC.
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
We prepare our consolidated financial statements in accordance with generally accepted accounting principles for the United States (GAAP). The non-GAAP financial measures, such as net loss per share and Adjusted EBITDA included in this press release are different from those otherwise presented under GAAP. We use non-GAAP measures internally to evaluate our performance and make financial and operational decisions that are presented in a manner that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. The non-GAAP financial measures exclude non-cash compensation expense for stock options. When evaluating the performance of our business and developing short and long-term plans, we do not consider share-based compensation charges. Although share-based compensation is necessary to attract and retain quality employees, our consideration of share-based compensation places its primary emphasis on overall shareholder dilution rather than the accounting charges associated with such grants. Because of the varying availability of valuation methodologies and subjective assumptions, we believe that the exclusion of share-based compensation allows for more accurate comparison of our financial results to previous periods. In addition, we believe it useful to investors to understand the specific impact of the application of the fair value method of accounting for share-based compensation on our operating results.
Adjusted EBITDA is defined by us as EBITDA (net loss plus depreciation, amortization, interest, and income tax expense, further adjusted to exclude certain non-cash expenses and other adjustments as set forth below. We use Adjusted EBITDA because we believe it more clearly highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since Adjusted EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.
We use Adjusted EBITDA in communicating certain aspects of our results and performance, including in this press release, and believe that Adjusted EBITDA, when viewed in conjunction with our GAAP results and the accompanying reconciliation, can provide investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of Adjusted EBITDA is useful to investors in making period-to-period comparison of results because the adjustments to GAAP are not reflective of our core business performance.
A reconciliation from our GAAP net loss to non-GAAP net loss for the three and six months ended June 30, 2026 and 2025 is detailed below (in thousands, except per share data):
Three Months Ended | Six Months Ended | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Net loss - GAAP | $ | (775 | ) | $ | (261 | ) | $ | (1,418 | ) | $ | (370 | ) | ||||
Stock-based compensation (1) | 148 | 132 | 296 | 250 | ||||||||||||
Loss on debt conversions (2) | 104 | - | 249 | - | ||||||||||||
Change in fair value of convertible notes (3) | 364 | - | 471 | - | ||||||||||||
Gain on debt extinguishment (4) | - | - | (20 | ) | (38 | ) | ||||||||||
Note discount (5) | - | 130 | 91 | 279 | ||||||||||||
Benefit from reversal of accrued payroll tax (6) | - | - | - | (522 | ) | |||||||||||
Net income (loss) - non-GAAP | $ | (159 | ) | $ | 1 | $ | (331 | ) | $ | (401 | ) | |||||
Diluted EPS - GAAP | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | $ | (0.00 | ) | ||||
Stock-based compensation (1) | - | - | - | - | ||||||||||||
Loss on debt conversions (2) | - | - | - | - | ||||||||||||
Change in fair value of convertible notes (3) | - | - | 0.01 | - | ||||||||||||
Gain on debt extinguishment (4) | - | - | - | - | ||||||||||||
Note discount (5) | - | - | - | - | ||||||||||||
Benefit from reversal of accrued payroll tax (6) | - | - | - | - | ||||||||||||
Diluted EPS - non-GAAP | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | ||||
Shares used to calculate diluted EPS - GAAP and non-GAAP | 205,086 | 184,264 | 198,943 | 184,264 | ||||||||||||
(1) Represents stock-based compensation expense related to stock options awarded to employees and non-executive directors based on the grant date fair value using the Black-Scholes valuation model.
(2) Represents the loss on debt conversions related to the true-up obligation.
(3) Represents change in fair value of our convertible notes.
(4) Represents gain on extinguishment of debt related to our Streeterville note payable in 2025 and the extinguishment of our note payable with an Investor in 2026.
(5) Represents amortization of OID/debt issuance costs for notes payable.
(6) Represents benefit from reversal of accrued payroll tax associated with RSU release to founder in 2019.
A reconciliation from our net loss to Adjusted EBITDA, a non-GAAP measure, for the three and six months ended June 30, 2026 and 2025 is detailed below (in thousands):
Three Months Ended | Six Months Ended | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Net loss | $ | (775 | ) | $ | (261 | ) | $ | (1,418 | ) | $ | (370 | ) | ||||
Depreciation expense | 16 | 52 | 32 | 128 | ||||||||||||
Amortization expense | 5 | 6 | 12 | 12 | ||||||||||||
Interest expense, net | 1 | 130 | 94 | 281 | ||||||||||||
Income tax expense | 5 | - | 5 | 7 | ||||||||||||
EBITDA | (748 | ) | (73 | ) | (1,275 | ) | 58 | |||||||||
Stock-based compensation (1) | 148 | 132 | 296 | 250 | ||||||||||||
Loss on debt conversions (2) | 104 | - | 249 | - | ||||||||||||
Change in fair value of convertible notes (3) | 364 | - | 471 | - | ||||||||||||
Gain on debt extinguishment (4) | - | - | (20 | ) | (38 | ) | ||||||||||
Benefit from reversal of accrued payroll tax (5) | - | - | - | (522 | ) | |||||||||||
Adjusted EBITDA | $ | (132 | ) | $ | 59 | $ | (279 | ) | $ | (252 | ) | |||||
(1) Represents stock-based compensation expense related to stock options awarded to employees and non-executive directors based on the grant date fair value using the Black-Scholes valuation model.
(2) Represents the loss on debt conversions related to the true-up obligation.
(3) Represents change in fair value of our convertible notes.
(4) Represents gain on extinguishment of debt related to our notes payable.
(5) Represents benefit from reversal of accrued payroll tax associated with RSU release to founder in 2019.
SOURCE: CV Sciences, Inc.
View the original press release on ACCESS Newswire