Cbdmd Inc Stock Price, News & Analysis

cbdMD, Inc. (NYSE American: YCBD) celebrated success at the Rogue Invitational, with athletes Justin Medeiros and Annie Thorisdottir winning gold and silver medals, respectively. The event took place in Austin, Texas, featuring top competitors in CrossFit. Medeiros praised his recovery routine post-CrossFit Games as key to his victory, while Thorisdottir expressed pride in her team's accomplishments. cbdMD's EVP of Sports Marketing, Hans Molenkamp, highlighted the athletes' achievements as inspiration, noting the brand's deep ties to the CrossFit community.

cbdMD has announced an exclusive partnership with Wodapalooza, the premier fitness festival happening from January 13-16, 2022, in Miami, Florida. As the Official CBD Partner, cbdMD will provide wellness solutions, product samples, and educational materials to athletes and gym owners. This partnership follows cbdMD's successful activation at the 2021 NOBULL CrossFit Games and aims to enhance its brand presence in the functional fitness community. The event will feature over $500k in prize money and aims to elevate the fitness community experience.

cbdMD, Inc. (NYSE American: YCBD) announced on October 7 the launch of cbdMD Therapeutics, a research division partnering with the University of Mississippi's National Center for Natural Products Research. The collaboration focuses on identifying and patenting novel cannabinoids for therapeutic use. Research will explore minor cannabinoids' chemistry, biology, and receptor activity, commencing in Fall 2021. Dr. Sibyl Swift emphasizes that this work sets a new standard in the cannabinoid industry, aiming for significant consumer benefits.

cbdMD, Inc. has entered a three-year exclusive partnership with Troon, the largest golf management company, to promote cbdMD products across over 600 affiliated facilities worldwide. This collaboration aims to enhance distribution opportunities for cbdMD's renowned CBD products, leveraging Troon's extensive network in the golf sector. The partnership features marketing initiatives including displays for retail locations, aiming to engage millions of golfing enthusiasts. This strategic move aligns with cbdMD's goal to expand its market reach, leveraging its brand ambassadors, including professional golfers.

cbdMD, Inc. (NYSE American: YCBD) has announced the launch of its new full spectrum product line, which includes tinctures and softgels with trace THC levels compliant with the 2018 Farm Bill. This expansion marks a significant milestone for the company, as full spectrum products account for over 50% of the total CBD market, according to the Brightfield Group. The introduction of these new offerings aims to broaden cbdMD's customer base while maintaining its commitment to THC-free options. Current available products can be found on cbdMD.com.

cbdMD, Inc. (NYSE American: YCBD) has partnered with four top CrossFit athletes, including 2021 champion Justin Medeiros and two-time champion Annie Thorisdottir, to enhance its presence in the fitness sector. This announcement follows their role as the Official CBD Partner of the 2021 NOBULL CrossFit Games. The partnerships aim to reach over three million Instagram followers and increase product awareness within the CrossFit community, which comprises around four million members globally.

cbdMD, Inc. (NYSE American: YCBD) has launched a full line of CBD drink mixes, available in four flavors: Strawberry Kiwi, Lemonade, Peach, and Fruit Punch. Each packet contains 25 mg of CBD and added vitamin C, utilizing Nano-Encapsulated Technology for rapid absorption. The new products aim to simplify CBD consumption for busy lifestyles and are designed for on-the-go use. The company anticipates introducing more innovative products this Fall, indicating a commitment to product diversification and customer convenience.

cbdMD reported third-quarter results for fiscal 2021 with net sales of $10.6 million, steady year-over-year, marking record trailing twelve-month net sales over $46.4 million.

Gross profit margin improved to approximately 68%, up from 65% a year earlier. Despite a 4.9% decline in e-commerce sales, wholesale sales increased by 13.7%.

Operating expenses surged 40.6% to $13.9 million, resulting in a loss from operations of $6.7 million. The company adjusted its net sales guidance for Q1 fiscal 2022, estimating $14.9 million to $15.5 million.

cbdMD, Inc. (NYSE American: YCBD) has signed a binding letter of intent with IM Cannabis Corp. (CSE: IMCC) for the exclusive rights to import and market its products in Israel, pending legislative approval. The collaboration aims to tap into the projected $475 million Israeli CBD market by 2025. This partnership reflects cbdMD's commitment to expanding its international presence, with operations in over 30 countries. CEO Martin Sumichrast emphasized the potential to leverage IMC's distribution capabilities to reach new consumers.