cbdMD Generates $4.6 Million of Revenue for the 3rd Quarter
cbdMD (NYSE American: YCBD) reported Q3 2025 financial results with revenue of $4.6 million, down 10.9% from $5.2 million in the prior year period. The company's operating loss widened to $905,000 from $382,000 year-over-year, while gross margin decreased from 66% to 61%.
Key developments include the completion of a marketing team overhaul, expansion of Herbal Oasis beverage brand into 7 states, and the conversion of Series A Preferred Stock which eliminated $6.7 million in accrued dividend liability. The company's book value increased to $6.1 million as of June 30, 2025, up from $0.67 million in March 2025.
Direct-to-consumer sales represented 78% of total revenue at $3.6 million, while wholesale revenue contributed 22% at $1.0 million. The company ended the quarter with $1.1 million in cash and working capital of $2.0 million.
cbdMD (NYSE American: YCBD) ha comunicato i risultati finanziari del terzo trimestre 2025 con ricavi per 4,6 milioni di dollari, in calo del 10,9% rispetto ai 5,2 milioni dello stesso periodo dell'anno precedente. La perdita operativa si è ampliata a 905.000 dollari rispetto a 382.000 dollari su base annua, mentre il margine lordo è sceso dal 66% al 61%.
Tra gli sviluppi principali figurano il completamento della riorganizzazione del team marketing, l'espansione del marchio di bevande Herbal Oasis in 7 stati e la conversione delle azioni privilegiate Serie A che ha eliminato 6,7 milioni di dollari di passività per dividendi maturati. Il valore contabile della società è salito a 6,1 milioni di dollari al 30 giugno 2025, rispetto a 0,67 milioni al marzo 2025.
Le vendite dirette ai consumatori hanno rappresentato il 78% dei ricavi totali per 3,6 milioni di dollari, mentre le vendite all'ingrosso hanno contribuito per il 22% con 1,0 milione di dollari. La società ha chiuso il trimestre con 1,1 milioni di dollari in liquidità e un capitale circolante di 2,0 milioni di dollari.
cbdMD (NYSE American: YCBD) presentó los resultados financieros del tercer trimestre de 2025 con ingresos de 4,6 millones de dólares, una disminución del 10,9% respecto a 5,2 millones en el mismo periodo del año anterior. La pérdida operativa se amplió a 905.000 dólares desde 382.000 dólares interanuales, mientras que el margen bruto cayó del 66% al 61%.
Entre los acontecimientos clave figuran la finalización de la reestructuración del equipo de marketing, la expansión de la marca de bebidas Herbal Oasis a 7 estados y la conversión de las acciones preferentes Serie A, que eliminó 6,7 millones de dólares en pasivos por dividendos acumulados. El valor contable de la compañía aumentó a 6,1 millones de dólares al 30 de junio de 2025, frente a 0,67 millones en marzo de 2025.
Las ventas directas al consumidor representaron el 78% de los ingresos totales, con 3,6 millones de dólares, mientras que los ingresos mayoristas contribuyeron con el 22% (1,0 millón de dólares). La compañía finalizó el trimestre con 1,1 millones de dólares en efectivo y un capital de trabajo de 2,0 millones de dólares.
cbdMD (NYSE American: YCBD)는 2025년 3분기 실적을 발표했으며, 매출 460만 달러로 전년 동기 520만 달러 대비 10.9% 감소했습니다. 영업손실은 연간 기준 90만5천 달러로 확대(전년 38만2천 달러)됐고, 총이익률은 66%에서 61%로 하락했습니다.
주요 소식으로는 마케팅 팀 개편 완료, Herbal Oasis 음료 브랜드의 7개 주로의 확장, 그리고 누적 배당부채 670만 달러를 소멸시킨 시리즈 A 우선주 전환이 포함됩니다. 장부가치는 2025년 6월 30일 기준 610만 달러로 2025년 3월의 67만 달러에서 증가했습니다.
직접 소비자 판매는 전체 매출의 78%인 360만 달러를 차지했으며, 도매 매출은 22%인 100만 달러를 기여했습니다. 분기 말 회사 현금은 110만 달러, 운전자본은 200만 달러였습니다.
cbdMD (NYSE American: YCBD) a publié ses résultats financiers du troisième trimestre 2025 avec des revenus de 4,6 millions de dollars, en baisse de 10,9% par rapport à 5,2 millions au même trimestre de l'année précédente. La perte d'exploitation s'est creusée à 905 000 dollars contre 382 000 dollars en glissement annuel, tandis que la marge brute est passée de 66% à 61%.
Parmi les faits marquants : l'achèvement de la refonte de l'équipe marketing, l'expansion de la marque de boissons Herbal Oasis dans 7 États et la conversion des actions privilégiées de série A, qui a éliminé 6,7 millions de dollars de passif de dividendes accumulés. La valeur comptable de la société est passée à 6,1 millions de dollars au 30 juin 2025, contre 0,67 million en mars 2025.
Les ventes directes aux consommateurs ont représenté 78% du chiffre d'affaires total, soit 3,6 millions de dollars, tandis que les ventes en gros ont contribué pour 22% (1,0 million de dollars). La société a terminé le trimestre avec 1,1 million de dollars en trésorerie et un fonds de roulement de 2,0 millions de dollars.
cbdMD (NYSE American: YCBD) meldete die Finanzergebnisse für das dritte Quartal 2025 mit Umsatz in Höhe von 4,6 Mio. USD, ein Rückgang von 10,9% gegenüber 5,2 Mio. USD im Vorjahreszeitraum. Der operative Verlust weitete sich auf 905.000 USD aus gegenüber 382.000 USD im Jahresvergleich, während die Bruttomarge von 66% auf 61% sank.
Wesentliche Entwicklungen sind die abgeschlossene Neustrukturierung des Marketingteams, die Ausweitung der Getränkemarke Herbal Oasis auf 7 Bundesstaaten und die Umwandlung der Series-A-Vorzugsaktien, die 6,7 Mio. USD an aufgelaufenen Dividendenschulden beseitigte. Der Buchwert des Unternehmens stieg zum 30. Juni 2025 auf 6,1 Mio. USD gegenüber 0,67 Mio. USD im März 2025.
Direktvertrieb an Verbraucher machte 78% des Gesamtumsatzes in Höhe von 3,6 Mio. USD aus, während der Großhandelsumsatz 22% bzw. 1,0 Mio. USD beitrug. Das Unternehmen schloss das Quartal mit 1,1 Mio. USD an Barmitteln und einem Working Capital von 2,0 Mio. USD ab.
- Elimination of $6.7 million in accrued dividend liability through Series A Preferred Stock conversion
- Book value increased significantly to $6.1 million from $0.67 million in previous quarter
- Expansion of Oasis beverage brand distribution to 7 states
- Working capital improved to $2.0 million from ($2.2) million deficit
- Revenue declined 10.9% to $4.6 million year-over-year
- Operating loss increased to $905,000 from $382,000 year-over-year
- Gross margin decreased from 66% to 61%
- Cash position decreased to $1.1 million from $2.4 million at fiscal year start
Insights
cbdMD reports declining Q3 revenue and widening losses while expanding Oasis brand distribution amid challenging regulatory environment.
cbdMD's Q3 fiscal 2025 results show concerning financial trends with
The direct-to-consumer channel remains their dominant revenue stream at
Their balance sheet shows
Management attributes the revenue decline to shifting regulations creating uncertainty for wholesale partners. They've implemented a marketing team overhaul to address the multi-year revenue slide, claiming positive trends beginning in July (after this reporting period).
The Herbal Oasis beverage brand expansion represents their growth initiative, now in 7 states with new distribution agreements in Tennessee and Minnesota. Management indicates this product line is scaling at a faster pace since July.
Their non-GAAP adjusted EBITDA loss worsened to
This quarter represents continued challenges for cbdMD, though they've addressed immediate financial structure concerns through the preferred stock conversion. The regulatory environment remains a significant headwind, but management is banking on their marketing overhaul and Oasis brand expansion to reverse their revenue trajectory.
Announces Oasis Expands into Multiple New States
Charlotte, North Carolina--(Newsfile Corp. - August 14, 2025) - cbdMD, Inc. (NYSE American: YCBD), one of the nation's leading and most highly trusted and recognized CBD companies, and operator of the leading CBD brands cbdMD and Paw CBD, and Herbal Oasis today announced our financial results for the third quarter of fiscal year ended September 30, 2025.
The Company delivered
"While our third quarter results were not up to our standard, we have completed a major overhaul to our marketing team and digital designed to reverse our multi-year revenue slide," said Ronan Kennedy, CEO of cbdMD. "These changes are already bearing fruit. We are encouraged by the trends that started in July and believe we are on the right path to revenue growth and can get back to break even in near future. Our beverage brand, Oasis, continues to provide exciting growth potential as the ecommerce business started to scale at much quicker pace during July. We have expanded the distribution of Oasis products to 7 states as of August 14, 2025. Our distribution pipeline continues to grow and we are adding territories and retailers monthly. Regulatory activity in recent months has been markedly higher than usual, spanning multiple states as well as the federal level. cbdMD continues to collaborate with industry associations, engage directly with state legislators, and mobilize customers to ensure elected officials understand the economic and consumer implications of proposed legislation. However, shifting regulations in several states have created uncertainty for many of our wholesale partners, resulting in revenue impacts.
We are encouraged by recent positive developments at the national level, including farm bill progress and statements from the White House regarding cannabis scheduling. We believe that heightened regulatory scrutiny will ultimately favor brands with the compliance expertise and quality systems needed to thrive long term. In parallel, we expect this environment to drive further industry consolidation-an opportunity we are well positioned to capture, particularly given the increased M&A interest we have seen since the conversion and elimination of our Series A Preferred stock.
Highlights for the Third Quarter of Fiscal 2025 and Strategic Updates
- Herbal Oasis Gains Momentum: cbdMD's hemp-derived THC beverage brand has signed distribution agreements in Tennessee and Minnesota and expects to ship these states during August, with product available for consumers in September.
- Series A Preferred Conversion Completed: On May 7, 2025, cbdMD executed a 1:13 conversion of its Series A Preferred Stock, eliminating
$6.7 million in accrued dividend liability and adding equivalent stockholder equity value.
- Book Value Turnaround: Reported book value of equity as of March 31, 2025 was
$0.67 million . As of June 30, 2025 our Book value book value increase to approximately$6.1 million , post-Series A Preferred Stock conversion and elimination of accrued dividends, exceeding NYSE American's equity Continued Listing Standards under Sections 1003(a)(i) and 1003(a)(ii). The Company is required to be in compliance with NYSE American Continued Listing Standards for 2 quarters to regain compliance with NYSE American Continued Listing Standards.
Financial Highlights from our Third Quarter of Fiscal Year 2025:
- Net sales totaled
$4.6 million in the third quarter of fiscal 2025 or a decrease of10.9% compared to$5.2 million in fiscal 2024. Year to date revenues are down from$14.9 million to$14.5 million .
- Our gross margin decreased year over year from
66% to61% during the third quarter of fiscal 2025.
- Our loss from operations was
$905,000 in the third quarter of fiscal 2025 as compared to a loss of$382,000 in the prior year comparative period.
- Net Loss before preferred dividends totaled
$0.9 million in the third quarter of fiscal 2025 as compared to a income of$0.4 million in the prior year period.
- Our non-GAAP adjusted EBITDA loss from operations in the third quarter of fiscal 2025 was approximately
$624,000 compared to a$90,000 loss from operations in third fiscal quarter of 2024.
- Net loss attributable to common shareholders for the third quarter of fiscal 2025 was approximately
$1.2 million or a loss of$0.21 per share as compared to a net loss for the third quarter of fiscal 2024 of approximately$0.5 million , or$8.93 per share.
- At June 30, 2025, we had a working capital of approximately
$2.0 million and cash on hand of approximately$1.1 million as compared to a working capital deficit of approximately ($2.2) million and cash on hand of approximately$2.4 million at September 30, 2024. The increase was due to the elimination of the accrued Series A Preferred dividends.
- We reported direct to consumer (DTC) net sales of
$3.6 million or78% of total net sales in the third quarter of fiscal 2025, as compared with$3.9 million or76% of total net sales in the third quarter of fiscal 2024.
- We reported wholesale net sales of
$1.0 million or22% of total net sales in the third quarter of fiscal 2025, as compared to$1.2 million the third quarter of fiscal 2024.
We will host a conference call at 4:20 p.m., Eastern Time, on Thursday, August 14, 2025, to discuss our June 30, 2025, third fiscal quarter and year to date fiscal 2025 financial results and business progress.
CONFERENCE CALL DETAILS
| Thursday August 14, 2025, 4:20 p.m. Eastern Time | ||
| USA/Canada: | 844-821-3524 | |
| International: | 647-846-2919 | |
| Teleconference Replay dial in: | ||
| USA/Canada: | 855-669-9658 | |
| International: | 412-317-0088 | |
| Replay Passcode: | 5327882 | |
| Webcast/Webcast Replay link- available through August 14, 2026: https://www.gowebcasting.com/14151 | ||
About cbdMD, Inc.
cbdMD, Inc. (NYSE American: YCBD) is one of the leading and most highly trusted and most recognized cannabidiol (CBD) brands with a comprehensive line of U.S. produced, THC-free1 CBD products, and an array of Farm Act compliant Delta 9 products. Our Paw CBD brand of pet products includes veterinarian-formulated products, our ATRx brand features functional mushroom products. In addition, we operate Herbal Oasis, a premium, award winning THC-infused social seltzer that blends cannabinoids and nootropic mushrooms to deliver a fast-acting, functional beverage made for presence and connection. With an alcohol-free formula and wellness-forward ingredients, Oasis invites a better way to drink-one rooted in clarity, balance, and joy. To learn more about cbdMD and our comprehensive line of U.S. grown, THC-free1 CBD and Full Spectrum products as well as our other brands, please visit www.cbdmd.com, www.pawcbd.com, ATRxlabs.com, or Herbaloasis.com, follow cbdMD on Instagram and Facebook, or visit one of the thousands of retail outlets that carry cbdMD's products.
Forward-Looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified using words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict. You are urged to carefully review and consider any cautionary statements, including but not limited to expectations on our ability to continue as a going concern, increasing our revenues, continued cost reductions, potential need for additional working capital, regaining compliance with NYSE American Continued Listing Standards, continued listing on the NYSE American, future profitability, development and sales of new products, and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2024 as filed with the Securities and Exchange Commission (the "SEC") on December 17, 2024, Quarterly Report on Form 10-Q for the period ended March 31, 2025 filed with the SEC on May 15, 2025, and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.
1 THC-free is defined as below the level of detection using validated scientific analytical methods.
Non-GAAP Financial Measures
This press release includes a financial measure that excludes the impact of certain items and therefore has not been calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). cbdMD, Inc. has included adjusted loss from operations because management uses this measure to assess operating performance in order to highlight trends in our business that may not otherwise be apparent when relying on financial measures calculated in accordance with GAAP. The adjusted operating loss has not been prepared in accordance with GAAP. This non-GAAP financial measure should not be considered as an alternative to, or more meaningful than, net loss from operations as an indicator of our operating performance. Further, this non-GAAP financial measure, as presented by cbdMD, Inc., may not be comparable to similarly titled measures reported by other companies. cbdMD, Inc. has attached to this press release a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure.
cbdMD, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
JUNE 30, 2025 AND SEPTEMBER 30, 2024
(Unaudited)
| June 30, | September 30, | |||||
| 2025 | 2024 | |||||
| Assets | ||||||
| Cash and cash equivalents | $ | 1,059,559 | $ | 2,452,553 | ||
| Accounts receivable, net | 967,310 | 983,910 | ||||
| Inventory, net | 2,798,682 | 2,365,187 | ||||
| Inventory prepaid | 380,039 | 159,006 | ||||
| Prepaid sponsorship | 23,505 | 21,754 | ||||
| Prepaid expenses and other current assets | 367,907 | 406,674 | ||||
| Total current assets | 5,597,002 | 6,389,084 | ||||
| Other assets: | ||||||
| Property and equipment, net | 345,361 | 454,268 | ||||
| Operating lease assets | 874,406 | 85,817 | ||||
| Deposits for facilities | 62,708 | 62,708 | ||||
| Intangible assets, net | 2,315,779 | 2,889,580 | ||||
| Investment in other securities, noncurrent | 700,000 | 700,000 | ||||
| Total other assets | 4,298,254 | 4,192,373 | ||||
| Total assets | $ | 9,895,256 | $ | 10,581,457 | ||
| CONSOLIDATED BALANCE SHEETS | ||||||
| JUNE 30, 2025 AND SEPTEMBER 30, 2024 | ||||||
| (continued) | ||||||
| June 30, | September 30, | |||||
| 2025 | 2024 | |||||
| Liabilities and shareholders' equity | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 1,217,507 | $ | 1,541,108 | ||
| Accrued expenses | 1,095,310 | 632,674 | ||||
| Accrued dividends | - | 4,671,000 | ||||
| Deferred revenue | 509,198 | 503,254 | ||||
| Operating leases - current portion | 761,503 | 98,696 | ||||
| Convertible notes, at fair value | - | 1,171,308 | ||||
| Total current liabilities | 3,583,518 | 8,618,040 | ||||
| Long term liabilities: | ||||||
| Operating leases - long term portion | 201,235 | - | ||||
| Total long term liabilities | 201,235 | - | ||||
| Total liabilities | 3,784,753 | 8,618,040 | ||||
| cbdMD, Inc. shareholders' equity: | ||||||
| Preferred stock, authorized 50,000,000 shares, | ||||||
| par value, 0 and 5,000,000 shares issued and outstanding, respectively | - | 5,000 | ||||
| Common stock, authorized 150,000,000 shares, | ||||||
| par value, 8,908,444 and 492,383 shares issued and outstanding, respectively | 8,908 | 492 | ||||
| Additional paid in capital | 185,192,277 | 184,033,012 | ||||
| Comprehensive other expense | - | (7,189 | ) | |||
| Accumulated deficit | (179,090,682 | ) | (182,067,898 | ) | ||
| Total cbdMD, Inc. shareholders' equity | 6,110,503 | 1,963,417 | ||||
| Total liabilities and shareholders' equity | $ | 9,895,256 | $ | 10,581,457 |
cbdMD, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2025 and 2024
(unaudited)
| Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Gross Sales | $ | 4,606,796 | $ | 5,173,878 | $ | 14,469,698 | $ | 15,365,953 | ||||
| Allowances | - | - | - | (440,152 | ) | |||||||
| Total Net Sales | 4,606,796 | 5,173,878 | 14,469,698 | 14,925,801 | ||||||||
| Cost of sales | 1,775,709 | 1,770,364 | 5,278,638 | 5,384,061 | ||||||||
| Gross Profit | 2,831,087 | 3,403,514 | 9,191,060 | 9,541,740 | ||||||||
| Operating expenses | 3,735,773 | 3,785,542 | 10,667,834 | 12,540,595 | ||||||||
| Loss from operations | (904,686 | ) | (382,028 | ) | (1,476,774 | ) | (2,998,855 | ) | ||||
| Decrease of contingent liability | - | - | - | 74,580 | ||||||||
| Decrease (increase) in fair value of convertible debt | - | 854,506 | 87,380 | (591,494 | ) | |||||||
| Interest expense (income) | 9,414 | (12,741 | ) | 28,460 | (31,558 | ) | ||||||
| Loss before provision for income taxes | (895,272 | ) | 459,737 | (1,360,934 | ) | (3,547,327 | ) | |||||
| Net (loss) income | (895,272 | ) | 459,737 | (1,360,934 | ) | (3,547,327 | ) | |||||
| Preferred dividends | 333,500 | 1,000,500 | 2,334,501 | 3,001,501 | ||||||||
| Net Loss attributable to cbdMD, Inc. common shareholders | $ | (1,228,772 | ) | $ | (540,763 | ) | $ | (3,695,435 | ) | $ | (6,548,828 | ) |
| Net Loss per share: | ||||||||||||
| Basic and diluted earnings per share | $ | (0.21 | ) | $ | (8.93 | ) | $ | (1.56 | ) | $ | (16.39 | ) |
| Weighted average number of shares Basic and Diluted: | 5,783,354 | 449,121 | 2,376,157 | 399,496 | ||||||||
cbdMD, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2025 and 2024
(unaudited)
| Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Net (Loss) | $ | (895,272 | ) | $ | 459,737 | $ | (1,360,934 | ) | $ | (3,547,327 | ) | |
| Comprehensive (Loss) income | (895,272 | ) | 459,737 | (1,360,934 | ) | (3,547,327 | ) | |||||
| Other Comprehensive income (loss) | $ | 4,800 | $ | 7,189 | $ | (1,200 | ) | |||||
| Preferred dividends | (333,500 | ) | (1,000,500 | ) | (2,334,501 | ) | (3,001,501 | ) | ||||
| Comprehensive Loss attributable to cbdMD, inc. common shareholders | $ | (1,228,772 | ) | $ | (535,963 | ) | $ | (3,688,246 | ) | $ | (6,550,028 | ) |
cbdMD, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED JUNE 30, 2025 and 2024
(unaudited)
| June 30, | June 30, | |||||
| 2025 | 2024 | |||||
| Cash flows from operating activities: | ||||||
| Net Loss | $ | (1,360,934 | ) | $ | (3,547,327 | ) |
| Adjustments to reconcile net loss to net | ||||||
| cash used by operating activities: | ||||||
| Stock based compensation | - | 10,019 | ||||
| Restricted stock expense | 3,693 | 2,073 | ||||
| Issuance of stock for services | 82,250 | - | ||||
| Amortization | 573,801 | 518,526 | ||||
| Depreciation | 290,275 | 343,527 | ||||
| Decrease in contingent liability | - | (74,580 | ) | |||
| Increase in fair value of convertible debt | (87,380 | ) | 591,494 | |||
| Amortization of operating lease asset | 499,309 | 882,399 | ||||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | 17,351 | 253,361 | ||||
| Deposits | - | 6,505 | ||||
| Inventory | (433,495 | ) | 827,057 | |||
| Prepaid inventory | (221,034 | ) | 102,810 | |||
| Prepaid expenses and other current assets | 37,017 | 152,429 | ||||
| Accounts payable and accrued expenses | (194,632 | ) | 449,686 | |||
| Operating lease liability | (423,855 | ) | (949,829 | ) | ||
| Deferred revenue / customer deposits | 6,008 | (88,319 | ) | |||
| Cash flows from operating activities | (1,211,626 | ) | (520,169 | ) | ||
| Cash flows from investing activities: | ||||||
| Purchase of property and equipment | (181,368 | ) | (180,015 | ) | ||
| Cash flows from investing activities | (181,368 | ) | (180,015 | ) | ||
| Cash flows from financing activities: | ||||||
| Proceeds from issuance of common stock | - | 50,000 | ||||
| Note payable | - | 1,247,499 | ||||
| Cash flows from financing activities | - | 1,297,499 | ||||
| Net increase (decrease) in cash | (1,392,994 | ) | 597,315 | |||
| Cash and cash equivalents, beginning of period | 2,452,553 | 1,797,860 | ||||
| Cash and cash equivalents, end of period | $ | 1,059,559 | $ | 2,395,175 | ||
| Supplemental Disclosures of Cash Flow Information: | ||||||
| 2025 | 2024 | |||||
| Cash paid for interest | $ | - | $ | 31,558 | ||
| Non-cash financing/investing activities: | ||||||
| Issuance of shares for conversion of debt and accrued interest | $ | 1,079,639 | $ | - | ||
| Change in lease asset related to extinguishment of HQ lease and new warehouse lease | $ | (1,723,544 | ) | $ | - | |
| Conversion accrued preferred dividends to common stock | $ | 2,334,504 | $ | 3,001,501 | ||
| Preferred dividends accrued but not paid | $ | 6,672,652 | $ | - |
cbdMD, Inc.
SUPPLEMENTAL FINANCIAL INFORMATION
FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2025 and 2024
(unaudited)
| Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| GAAP loss from operations | $ | (904,686 | ) | $ | (382,028 | ) | $ | (1,476,774 | ) | $ | (2,998,855 | ) |
| Adjustments: | ||||||||||||
| Depreciation & Amortization (1) | 280,172 | 287,754 | 864,076 | 862,053 | ||||||||
| Employee and director stock compensation (2) | 825 | 9,321 | 5,841 | 16,835 | ||||||||
| Mergers and Acquistions and financing transaction expenses | - | - | - | 58,239 | ||||||||
| Non-cash expense incurred as a credit (3) | - | - | - | 439,926 | ||||||||
| Non-cash accelerated amortization of expense related to terminated IT contracts | - | - | - | 72,101 | ||||||||
| Non-GAAP adjusted loss from operations | $ | (623,689 | ) | $ | (84,953 | ) | $ | (606,857 | ) | $ | (1,549,701 | ) |
(1) Represents depreciation of property, plant and equipment and amortization of the Company's intangible assets. (2) Represents non-cash expense related to options, warrants, restricted stock expenses that have been amortized during the period. (3) Represents non-cash expense incurred as a credit provided to GNC to replace expired product. | ||||||||||||
Contacts:
Investors:
cbdMD, Inc.
Ronan Kennedy
Chief Executive Officer and Chief Financial Officer
IR@cbdmd.com
(704) 445-3064
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262516
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