cbdMD (YCBD) Stock News, May-Dec 2024

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.

cbdMD, Inc. (NYSE American: YCBD) has received acceptance from NYSE American for its plan to regain compliance with continued listing standards by December 5, 2025. The company, known for its CBD brands cbdMD and Paw CBD, along with functional mushroom brand ATRx Labs, was previously found non-compliant with Section 1003(a)(ii) of the NYSE American Company Guide due to insufficient stockholders' equity and reported losses. cbdMD reported a stockholders' deficit of $3.1 million as of March 31, 2024, and losses in three of its four most recent fiscal years ended September 30, 2023.

During the plan period, cbdMD will undergo quarterly reviews to assess progress. If compliance is not achieved by the deadline or sufficient progress is not made, NYSE American may initiate delisting proceedings. The company's CEO, T. Ronan Kennedy, views this as a critical step in addressing capital structure challenges and re-engaging with Series A preferred shareholders.

cbdMD, Inc. (NYSE American: YCBD) reported financial results for Q3 2024 ending June 30, 2024. Key highlights include:

- Net sales of $5.1 million, down 15% YoY but up 18% sequentially
- Gross profit improved to 65% from 63% in Q3 2023
- Operating loss reduced to $0.38 million from $1.8 million in Q3 2023
- Net income of $0.46 million compared to a net loss of $1.7 million in Q3 2023
- Cash on hand increased to $2.3 million from $1.8 million at fiscal year-end 2023

The company achieved significant operational efficiencies, with SG&A expenses down and the best non-GAAP adjusted EBITDA result in its history. However, cbdMD received a non-compliance notice from NYSE American and must submit a plan to regain compliance by December 5, 2025.

cbdMD, Inc. (NYSE American: YCBD), a leading CBD company, has announced a conference call scheduled for August 14, 2024, at 4:20 p.m. Eastern Time. The call will discuss the company's third quarter fiscal 2024 financial results and business progress for the period ending June 30, 2024. Investors and interested parties can join the call using the following details:

- USA/Canada: 844-763-8274
- International: 647-484-8814
- Replay available: USA/Canada (877-344-7529), International (412-317-0088), Passcode: 5067217

A webcast replay will be accessible until August 14, 2025, via the provided link.

cbdMD (NYSE: YCBD) announced the publication of its human clinical trial data in the Journal of the International Society of Sports Nutrition. The study, conducted by the University of South Carolina, evaluated the effects of daily intake of 100 mg of cbdMD's Broad Spectrum CBD blend over 12 weeks on healthy adults.

Key findings include significant pain reduction, improved psychological well-being in male participants, and reduced perceived stress in female participants. The study confirmed the safety and tolerability of the product, aligning with previous research on safe CBD consumption levels.

cbdMD highlighted the trial as evidence of their commitment to science, safety, and efficacy, reinforcing their leadership in the CBD industry.

cbdMD (NYSE American: YCBD) has received a noncompliance notice from NYSE American, indicating that the company does not meet the continued listing standards. As of March 31, 2024, the company reported stockholders' equity of $3.1 million, below the required $4 million. Additionally, it has reported losses in three of the last four fiscal years. cbdMD must submit a compliance plan by July 5, 2024, to regain compliance by December 5, 2025. Although the notice does not affect the company's immediate operations or trading status, the stocks will carry a "BC" designation for being below compliance. cbdMD aims to achieve profitability and has announced cost reductions to be implemented by August 2024. The company is also considering converting Preferred Stock liabilities to equity to meet compliance but is not assured of success.

cbdMD (NYSE American: YCBD) has launched the ATRx Labs Premium Mushroom Line exclusively at GNC stores nationwide. The line consists of four products targeting various health needs: Energy & Stamina, Memory & Cognition, Digestion & Microbiome, and Immune Support. Each supplement merges powerful mushroom extracts with clinically studied ingredients to support natural wellness. This strategic partnership with GNC aims to meet the increasing consumer demand for natural health solutions, marking cbdMD's expansion in the wellness sector beyond CBD products.