Cbdmd Inc Stock Price, News & Analysis

cbdMD (NYSE American: YCBD) has announced the full satisfaction of its Senior Secured Convertible Notes through conversion into common stock. As of January 14, 2025, the company has 6,262,833 shares of common stock outstanding. The conversion, completed ahead of maturity, has strengthened the company's financial position and enhanced cash reserves.

CEO & CFO Ronan Kennedy highlighted that the Notes provided essential working capital over the past year, and their conversion has left the company debt-free, excluding normal operational accounts payable. This development provides greater flexibility for capital allocation toward profitable revenue growth.

cbdMD is known for its THC-free CBD products, including the cbdMD, Paw CBD, and ATRx Labs brands, offering various products from CBD tinctures and gummies to pet products and functional mushroom supplements.

cbdMD (NYSE American: YCBD) has announced significant debt reduction through conversions of its Senior Secured Convertible Notes. The outstanding principal amount has been reduced to approximately $56,000 as of January 8, 2025, following conversions that resulted in the issuance of 609,717 shares of common stock. The conversions reduced the principal by about $309,000 plus accrued interest.

The company reported having $2.1 million in cash and cash equivalents at the end of the first fiscal quarter, with a total of 6,152,841 shares of common stock outstanding as of January 8, 2024. CEO & CFO Ronan Kennedy highlighted improved balance sheet conditions and favorable liquidity position entering calendar 2025.

cbdMD (NYSE American: YCBD) has received a notice of noncompliance from NYSE American dated December 31, 2024, for failing to maintain stockholders' equity of $2 million or more. The company reported stockholders' equity of $1,963,417 as of September 30, 2024, and losses in four of its five most recent fiscal years.

The company remains under a previously accepted compliance plan from August 20, 2024, addressing noncompliance with the $4 million stockholders' equity requirement. cbdMD must regain compliance by December 5, 2025, or face potential delisting. During this period, both common stock (YCBD) and preferred stock (YCBD-PA) will continue trading with a 'BC' (below compliance) designation.

The company has reduced cash consumption from $4.9 million in fiscal 2023 to approximately $0.7 million in fiscal 2024. To achieve compliance, cbdMD is considering converting preferred stock and its accrued dividend ($4.67 million as of September 30, 2024) into common stock, subject to shareholder approval.

cbdMD (NYSE American: YCBD) announced the appointment of T. Ronan Kennedy, the company's CEO and CFO, to its Board of Directors effective December 18, 2024. This expansion brings the board to five members. According to Chairman Scott Stephen, Kennedy has shown exceptional leadership over the past two years in stabilizing the business and creating a more efficient organization.

Kennedy's achievements include optimizing cost structure, improving operational fundamentals, and strengthening the company's cash position. cbdMD is known for its THC-free CBD products, including the brands cbdMD, Paw CBD for pets, and ATRx Labs for functional mushroom support.

cbdMD (NYSE: YCBD) reported significant financial improvements for fiscal year 2024, reducing its operational loss to $3.3 million, a $19.1 million year-over-year improvement from the $22.9 million loss in 2023. Despite revenue challenges with net sales decreasing 19.1% to $19.5 million, the company maintained a 62% gross profit margin.

Key developments include launching ATRx Labs functional mushrooms, expanding D-9 products into beverages, and eliminating HQ lease obligations for $1.2 million annual savings. The company projects Q1 fiscal 2025 revenues to approach $5 million and aims for positive non-GAAP EBITDA in 2025.

However, cbdMD faces NYSE American compliance challenges, needing to increase its net book value of equity from $2.0 million to at least $4 million by December 2025 to maintain listing.

cbdMD (NYSE American: YCBD) has scheduled a conference call on Wednesday, December 18, 2024, at 4:20 p.m. Eastern Time to discuss their fourth quarter and fiscal year 2024 financial results ending September 30, 2024. The company will provide updates on financial performance and business progress. Participants can join via USA/Canada (844-763-8274) or International (647-484-8814) lines. A replay will be available through January 18, 2026, accessible via USA/Canada (855-669-9658) or International (412-317-0088) numbers using passcode 5369354.

cbdMD, Inc. (NYSE: YCBD) has postponed its Q4 and fiscal year 2024 financial results release and conference call from December 17 to December 18, 2024. The company cited the need for additional time to complete its year-end reporting process. The financial results will be released after market close on December 18, followed by a conference call at 4:20 p.m. Eastern Standard Time. The company expects to file its Annual Report on Form 10-K for the fiscal year ended September 30, 2024, on the same day.

cbdMD (NYSE American: YCBD) has scheduled a conference call to discuss its fourth quarter and fiscal year 2024 financial results and business progress. The call will take place on Tuesday, December 17, 2024, at 4:20 p.m. Eastern Time. Investors can access the call through USA/Canada (844-763-8274) or International (647-484-8814) numbers. A replay will be available with passcode 4840580, and a webcast replay will be accessible through January 17, 2026.

cbdMD (NYSE: YCBD) has launched Herbal Oasis Social Tonics, a new line of hemp-derived THC seltzers. Available in four flavors, each can contains 5mg THC, 5mg CBG, and adaptogenic mushrooms. The product features nano-liposomal technology for fast-acting effects within 10-15 minutes. According to Euromonitor International, the adult hemp beverage market reached $230 million in 2023, is expected to triple in 2024, and projected to exceed $4 billion by 2028. The products are currently available on cbdMD.com and in select markets in North Carolina and Alabama, with plans for broader distribution.