cbdMD, Inc. (YCBD) cannabidiol (CBD) brands include tinctures, capsules, gummies, topicals, bath bombs, and pet products and are carried in over 6,000 retail outlets. It also is a partner of Bellator MMA and Life Time, Inc. It announced its Q4, 2020 financial and operating results on Tuesday for the period ended September 30, 2020, as follows:
Q4 Financial Highlights
(All results are presented in USD and compared to the previous quarter. Go here to convert into other currencies.)
- Net Revenue: +10% to $11.7M
- e-commerce: +5% to $8.6M
- pet brands: +31% to $1.7M
- Gross Profit: increased to $6.4M from $(1.3)M
- Gross Margin: reduced to 54% from 65%
- Net Loss: improved 50.5% to $(4.5)M
- Cash/Equiv.: N/C at $14.8M
Management Commentary
Chairman and co-CEO Martin A. Sumichrast said:
- “... We have grown quarterly sales over 900% in eight fiscal quarters...[by remaining] focused on our core competency, which is e-commerce direct-to-consumer sales...
- We have also maintained one of the strongest balance sheets in the CBD industry and we believe we have more than ample enough capital to execute our 2021 strategy...
- We dramatically reduced our non-GAAP adjusted loss from operations from over $10 million in the first half of fiscal 2020 to approximately $1.3 million in the second half of fiscal 2020...[and are] are confident that we will achieve positive adjusted operating income...fiscal 2021...
- We expect continued robust sales growth in fiscal 2021.”
Stock Performance
cbdMD is a constituent in the munKNEE Pure-Play Pot Stock Index and is one of the 15 of 25 stocks in the index which is up YTD (+22.0%) as illustrated in the chart below:
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