Charlottes Web Stock Price, News & Analysis

Charlotte's Web Holdings, Inc. has rescheduled its Q3-2022 financial results release to 5:00 PM EST on November 14, 2022, followed by a conference call on November 15, 2022, at 10:00 AM EST. Stakeholders can participate via phone or a live webcast. The call will be accessible for replay until November 22, 2022. The adjustments are due to unexpected scheduling conflicts. Charlotte's Web remains the market leader in hemp extract wellness products, emphasizing quality and innovation in its offerings.

Charlotte's Web Holdings and Tilray Brands have formed a strategic alliance to manufacture and distribute Charlotte's Web CBD products across Canada. This partnership enables the availability of full-spectrum CBD products nationwide, addressing specific wellness needs for Canadians, who previously accessed these products only through special medical exemptions. Expected product launches include oil tinctures, gummies, and topicals in early 2023. The collaboration aims to leverage Tilray's established infrastructure for distribution and enhance market access for Charlotte's Web's trusted hemp extract products.

Charlotte's Web Holdings, Inc. (CWBHF) will release its third-quarter financial results on November 9, 2022. An earnings conference call is set for the same day at 11:00 a.m. Eastern Time. Participants can join by dialing 1-416-764-8659 or 1-888-664-6392, using confirmation number 24797121, or via live webcast. A replay will be available until November 16, 2022.

Charlotte's Web and Major League Baseball (MLB) have announced a pioneering multi-year partnership, marking the first sponsorship between a major sports league and a CBD brand. This agreement follows MLB's decision to open the CBD category for sponsorships and allows Charlotte's Web to be recognized as the 'Official CBD of Major League Baseball.' The partnership promotes the launch of Charlotte's Web SPORT – Daily Edge tincture, which meets NSF Certified for Sport® standards. Through this collaboration, Charlotte's Web aims to tap into the U.S. CBD market, valued at over $4.7 billion in 2021.

Charlotte's Web Holdings, Inc. (CWBHF) has partnered with Gopuff for the national distribution of its full-spectrum hemp extract CBD products, enhancing consumer access to its offerings. The product line includes CBD gummies, oils, topical creams, and pet products, first launched in select markets and expanding throughout 2022 and 2023. CEO Jacques Tortoroli emphasized the importance of making hemp wellness products more convenient for consumers. The partnership aims to tap into the growing e-commerce grocery landscape, which has rapidly matured during the pandemic.

Charlotte's Web Holdings has forged a multi-year distribution partnership with Southern Glazer's Wine & Spirits, expanding its market reach. This agreement enables Charlotte's Web products, including CBD gummies, capsules, and oil tinctures, to be distributed through Southern Glazer's extensive network across 44 U.S. states and the District of Columbia. CEO Jacques Tortoroli highlighted this as a strategic move to enhance visibility in new industry verticals, addressing growing consumer demand for wellness products. This collaboration positions Charlotte's Web for increased product accessibility.

Charlotte's Web Holdings, Inc. (CWBHF) has announced the development of a new product line targeting the sports sector, currently undergoing NSF for Sport® certification. This initiative aims to enhance focus, recovery, and sleep for athletes, assuring compliance with safety standards and no banned substances. The first products, a THC-free tincture and gummy, are expected to launch in 2023. The company has also partnered with Angel City Football Club, marking its entry into sports partnerships, as it seeks to expand its customer base and maintain quality control with NSF certified manufacturing.

On August 9, 2022, Charlotte's Web Holdings, Inc. (CWBHF) announced a strategic expansion in the Central United States through a partnership with Hanson Faso Sales and Marketing Inc. This collaboration aims to enhance the sales force for Charlotte's Web premium CBD products across various retail channels. Hanson Faso will provide critical marketing support and data analytics to optimize sales and inventory management. This initiative is part of Charlotte's Web's growth strategy to increase market presence in regions with high CBD demand, targeting national and regional retailers.

Charlotte's Web Holdings, Inc. reported Q2 2022 results with net revenues of $18.9 million, down 21.8% year-over-year due to decreased retail shipments and e-commerce traffic. Despite challenges, operating expenses improved by 31.5% to $17.3 million. The company witnessed an operating loss of $7.9 million, reflecting a net loss of the same amount per share. Cash and working capital were reported at $14.8 million and $64.6 million, respectively, as of June 30, 2022. The firm is expanding its distribution channels, including partnerships in China and employer wellness programs.