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CbdMD Reports Second Quarter Results

CbdMD Reports Second Quarter Results

cbdMD 公佈第二季度業績
newsfile ·  05/16 04:09

cbdMD's new line of functional mushroom products, ATRx, launches into national retailer

cbdMD 的新功能性蘑菇產品系列 atRx 向全國零售商推出

Charlotte, North Carolina--(Newsfile Corp. - May 15, 2024) - cbdMD, Inc. (NYSE American: YCBD) (NYSE American: YCBDpA), 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, along with its new functional mushroom brand ATRx Labs today announced its financial results for the March 31, 2024 second quarter of fiscal 2024 year end.

北卡羅來納州夏洛特--(Newsfile Corp.,2024 年 5 月 15 日)-cbdMD, Inc. (紐約證券交易所美國股票代碼:YCBD)(紐約證券交易所美國股票代碼:YcbdPA),美國領先的、最值得信賴和認可的CBD公司之一,也是領先的CBD品牌的運營商 cbdMD 和 Paw CBD, 以及其新的功能性蘑菇品牌 ATRx 實驗室 今天公佈了2024年3月31日2024財年第二季度的財務業績。

While year-over-year operational losses showed a slight increase from $1.4 million in the second quarter of fiscal 2023 ending March 31, 2023 to $1.5 million in second fiscal quarter 2024, management believes recently implemented expense reductions are poised to generate significant savings in the second half of the fiscal year.

儘管同比運營虧損從截至2023年3月31日的2023財年第二季度的140萬美元略有增加至2024年第二財季的150萬美元,但管理層認爲,最近實施的支出削減有望在本財年下半年節省大量開支。

"Transformation is not always linear, and while our second fiscal quarter 2024 results fell short of our ambitions, we believe the operational changes we've enacted are set to propel us forward," remarked Ronan Kennedy, cbdMD's CEO & CFO. "We're particularly excited about our ATRx Platinum line national rollout at GNC, which not only broadens our market presence but also validates our expansion into functional mushrooms."

cbdMD首席執行官兼首席財務官羅南·肯尼迪表示:“轉型並不總是線性的,儘管我們在2024年第二財季的業績沒有達到我們的目標,但我們認爲我們實施的運營變革將推動我們向前發展。”“我們對我們在GNC全國推出ATrX Platinum系列感到特別興奮,這不僅擴大了我們的市場佔有率,而且證實了我們向功能性蘑菇的擴張。”

In response to financial challenges, cbdMD has executed aggressive cost-cutting measures, projecting approximately $2.4 million in annualized savings that should be realized by August. These measures include reducing non-essential staff numbers, eliminating non-critical expenses, renegotiating vendor contracts, and consolidating its executive offices with its warehouse facility by entering into agreements to terminate its executive headquarters lease. These efforts are expected to reduce related expenses by approximately $0.6 million per quarter, positioning the company to potentially achieve positive cash flow in the upcoming quarters.

爲了應對財務挑戰,cbdMD已經採取了積極的削減成本的措施,預計到8月份將實現約240萬美元的年化儲蓄。這些措施包括減少不必要的員工人數、取消非關鍵開支、重新談判供應商合同,以及通過簽訂終止其執行總部租約的協議將其執行辦公室與倉庫設施合併。這些努力預計將使每季度相關支出減少約60萬美元,使公司有可能在未來幾個季度實現正現金流。

Kennedy added, "Our shareholders have spoken: profitability is imperative. Their input has further fueled our commitment to making tough yet crucial decisions, setting us up for success by the fiscal year's end. With revenues currently on pace for third fiscal quarter 2024 to surpass those of the March 2024 quarter, we are optimistic about making significant strides in this current fiscal period."

肯尼迪補充說:“我們的股東已經說過:盈利勢在必行。他們的意見進一步推動了我們對做出艱難而關鍵的決定的承諾,爲我們在財政年度末取得成功做好了準備。目前,2024年第三財季的收入有望超過2024年3月的季度,我們對在本財年取得重大進展持樂觀態度。”

Financial Highlights from our Second Quarter of Fiscal 2024:

我們2024財年第二季度的財務摘要:

  • Net sales totaled $4.4 million for the March 31, 2024 quarter or a decrease of 30% compared to $6.2 million for the prior year comparative fiscal quarter. For the six months ended March 2024, Net sales totaled $9.8 million as compared to $12.3 million for the prior year period.
  • 2024年3月31日季度的淨銷售額總額爲440萬美元,與上一財年的620萬美元相比下降了30%。在截至2024年3月的六個月中,淨銷售額總額爲980萬美元,而去年同期爲1,230萬美元。
  • We reported direct to consumer (DTC) net sales of $3.6 million or 82.8% of total net sales in the second quarter of fiscal 2024, a decrease from $4.9 million, or 26% from first quarter of fiscal 2023.
  • 我們報告稱,2024財年第二季度直接面向消費者(DTC)的淨銷售額爲360萬美元,佔總淨銷售額的82.8%,低於490萬美元,比2023財年第一季度下降26%。
  • We reported wholesale net sales of $0.75 million in the second quarter of fiscal 2024, a decrease from $1.3 million, or 44% from second quarter of fiscal 2023.
  • 我們報告稱,2024財年第二季度的批發淨銷售額爲75萬美元,較2023財年第二季度下降了130萬美元,下降了44%。
  • During the quarter we incurred a $0.44 million credit issued to a wholesale customer related to related to the $1 million order shipped during the March 2022 quarter.
  • Our gross profit for the quarter totaled 59% in compared to 64% in the second quarter of fiscal 2023, mostly due to the issued credit.
  • 在本季度,我們向批發客戶發放了44萬美元的信用額度,該信用額度與2022年3月季度發貨的100萬美元訂單有關。
  • 我們本季度的總利潤爲59%,而2023財年第二季度爲64%,這主要歸因於已發行的信貸。
  • Our loss from operations was $1.5 million during the second quarter of fiscal 2024 as compared to a loss of $1.4 million in second quarter of fiscal 2023.
  • 我們在2024財年第二季度的運營虧損爲150萬美元,而2023財年第二季度的虧損爲140萬美元。
  • Net loss attributable to common shareholders for second quarter of 2024 was approximately $4.0 million, or $1.35 per share, as compared to a net loss for the second fiscal quarter of 2023 of approximately $2.3 million, or $1.74 per share. The decrease in the second fiscal quarter of 2024 was principally attributable to a $1.4 million non-cash contingency liability increase related to the potential convertible liability of the Notes issued during the quarter along with a corresponding increase in the Company's stock price from issuance to March 31, 2024.
  • 2024年第二季度歸屬於普通股股東的淨虧損約爲400萬美元,合每股虧損1.35美元,而2023年第二財季的淨虧損約爲230萬美元,合每股虧損1.74美元。2024年第二財季的下降主要歸因於該季度發行的票據的潛在可轉換負債增加了140萬澳元的非現金或有負債,以及公司股價從發行到2024年3月31日的相應上漲。
  • At March 31, 2024, we had working capital of approximately $3.2 million (excluding the accrued preferred dividend) and cash on hand of approximately $2.1 million as compared to working capital of approximately $4.1 million (excluding the accrued preferred dividend) and cash on hand of approximately $1.8 million at September 30, 2023.
  • 截至2024年3月31日,我們的營運資金約爲320萬美元(不包括應計優先股息),手頭現金約爲210萬美元,而截至2023年9月30日,營運資金約爲410萬美元(不包括應計優先股息),手頭現金約爲180萬美元。
  • Our non-GAAP adjusted loss from operations during the second quarter of fiscal 2024 was approximately $0.68 million as compared to our non-GAAP adjusted loss from operations during the second quarter of fiscal 2023 of approximately $0.80 million, despite the decrease in overall revenue.
  • 儘管總收入有所下降,但我們在2024財年第二季度的非公認會計准則調整後運營虧損約爲68萬美元,而我們在2023財年第二季度的非公認會計准則調整後的運營虧損約爲80萬美元。

Highlights for the Second Quarter of 2024 and Notable Business Updates

2024年第二季度的亮點和重要的業務更新

  • During the quarter, the Company closed on $1.25 million in net financing through a series of Convertible Notes ("Notes") with a total principal balance of approximately $1.54 million. The Company intends to use the proceeds from the issuance of the Notes for working capital and general corporate purposes. As of the filing date, there is approximately $1 million in principal balance remaining on the Notes.
  • 在本季度,公司通過一系列可轉換票據(“票據”)完成了125萬美元的淨融資,本金餘額總額約爲154萬美元。公司打算將發行票據的收益用於營運資金和一般公司用途。截至申報日,票據剩餘的本金餘額約爲100萬美元。
  • The Company has consolidated its executive offices and warehouse and entered into agreements with its current landlord on its historical executive offices. Should the Company fulfill the obligations in these agreements, including making payments through July, the lease would terminate at the end of July 2024.
  • 該公司已合併了其執行辦公室和倉庫,並與其現任房東就其歷史執行辦公室簽訂了協議。如果公司履行這些協議中的義務,包括在7月之前付款,則租約將在2024年7月底終止。
  • The Company has implemented what it believes are over $200,000 in monthly operating costs savings that will be in place by August.
  • 該公司已經實施了它認爲每月可節省超過20萬美元的運營成本,該計劃將在8月之前到位。
  • Since January the Company made several non-executive personnel changes, including the hiring of a new VP of Wholesale and Director of Digital Marketing to combat ongoing revenue attrition and focus on profitability. We anticipate revenues to increase over the $4.8 million adjusted net revenue (excluding the $0.44 million credit) during the third quarter of fiscal 2024.
  • 自1月份以來,公司進行了幾次非執行人事變動,包括聘請了新的批發副總裁兼數字營銷董事,以應對持續的收入流失並專注於盈利能力。我們預計,在2024財年第三季度,收入將超過480萬美元的調整後淨收入(不包括44萬美元的信貸)。
  • As a follow-up to the Company's launch of its functional mushroom brand, ATRx Labs, during the first fiscal quarter, the Company launched the ATRx Platinum line throughout GNC's approximate 1,500 corporate locations during the second ficcal quarter of 2024. GNC national presence gives the brand the support and added credibility of a national retailer and further substantiates the growing demand for functional, natural products.
  • 作爲公司在第一財季推出其功能性蘑菇品牌ATrX Labs的後續行動,該公司在2024年第二財政季度在GNC約1,500個公司所在地推出了ATrX Platinum系列。GNC的全國影響力爲該品牌提供了全國性零售商的支持和信譽,進一步證實了對功能性天然產品不斷增長的需求。

We will host a conference call at 4:20 p.m., Eastern Time, on Wednesday, May 15, 2024, to discuss our March 31, 2024, second quarter of fiscal 2024 financial results and business progress.

我們將於美國東部時間2024年5月15日星期三下午4點20分舉行電話會議,討論我們2024年3月31日,即2024財年第二季度的財務業績和業務進展。

CONFERENCE CALL DETAILS

電話會議詳情

Wednesday, May 15, 2024, 4:20 p.m. Eastern Time
USA/Canada: 844-763-8274
International: 647-484-8814
Teleconference Replay dial in:
USA/Canada: 855-669-9658
International: 412-317-0088
Replay Passcode: 0905
Webcast/Webcast Replay link- available through May 15, 2025:
美國東部時間 2024 年 5 月 15 日星期三下午 4:20
美國/加拿大: 844-763-8274
國際: 647-484-8814
電話會議重播撥入:
美國/加拿大: 855-669-9658
國際: 412-317-0088
重播密碼: 0905
網絡直播/網絡直播重播鏈接-2025 年 5 月 15 日前可用:

About cbdMD, Inc.

關於 cbdMD, Inc.

cbdMD, Inc. 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, including NSF Certified for Sport products, as well as our new Full Spectrum products. Our cbdMD brand currently includes high-grade, premium CBD products including CBD tinctures, CBD gummies, CBD topicals, CBD capsules, CBD sleep aids, and an array of Farm Act compliant Delta 9 products. Our Paw CBD brand of pet products includes veterinarian-formulated products including tinctures and chews products in varying strengths, and our ATRx brand of natural functional mushroom support. To learn more about cbdMD and our comprehensive line of U.S. grown, THC-free1 CBD oil and Full Spectrum products as well as our other brands, please visit , , or ATRxlabs.com, follow cbdMD on Instagram and Facebook, or visit one of the thousands of retail outlets that carry cbdMD's products.

cbdMD, Inc. 是領先的、最受信賴和最受認可的大麻二酚 (CBD) 品牌之一,其產品種類齊全,在美國生產,不含四氫大麻酚1 CBD 產品,包括經過 NSF 認證的運動產品,以及我們的全新全光譜產品。我們的cbdMD品牌目前包括高檔的優質CBD產品,包括CBD酊劑、CBD軟糖、CBD外用藥、CBD膠囊、CBD助眠劑和一系列符合農場法案的Delta 9產品。我們的 Paw CBD 品牌寵物產品包括獸醫配方的產品,包括不同強度的酊劑和口香糖產品,以及我們的 ATrX 品牌的天然功能性蘑菇支持劑。要詳細了解 cbdMD 和我們在美國種植、不含四氫大麻酚的全系列產品1 CBD石油和全譜產品以及我們的其他品牌,請訪問或atrxLabs.com,在Instagram和Facebook上關注cbdMD,或訪問銷售cbdMD產品的數千家零售店中的一家。

1 THC-free is defined as below the level of detection using validated scientific analytical methods.

1 使用經過驗證的科學分析方法,不含四氫大麻酚的定義爲低於檢測水平。

Forward-Looking Statements

前瞻性陳述

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, cost reductions, potential need for additional working capital, 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, 2023 as filed with the Securities and Exchange Commission (the "SEC") on December 22, 2023, as amended on January 29, 2024, Form 10-Q for the quarterly period ended December 31, 2023 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.

本新聞稿包含某些前瞻性陳述,這些陳述基於當前預期,涉及1995年《美國私人證券訴訟改革法》所指的某些風險和不確定性。此類前瞻性陳述可以使用 “應該”、“可能”、“打算”、“預期”、“相信”、“估計”、“項目”、“預測”、“期望”、“計劃” 和 “提議” 等詞語來識別。這些前瞻性陳述不能保證未來的表現,並且受風險、不確定性和其他因素的影響,其中一些因素是我們無法控制的,難以預測。我們敦促您仔細審查和考慮任何警示性聲明,包括但不限於對我們持續經營能力、增加收入、降低成本、額外營運資金的潛在需求、未來盈利能力、新產品的開發和銷售以及其他披露的預期,包括cbdMD, Inc.在 “風險因素” 標題下發表的聲明2023年12月22日向美國證券交易委員會(“SEC”)提交的截至2023年9月30日財年的10-K表年度報告,經2024年1月29日修訂,截至2023年12月31日的季度期的10-Q表以及我們向美國證券交易委員會提交的其他文件。所有前瞻性陳述都涉及重大風險和不確定性,可能導致實際結果與前瞻性陳述存在重大差異,其中許多前瞻性陳述通常不在cbdMD, Inc.的控制範圍之內,難以預測。除非法律要求,否則cbdMD, Inc.不承擔任何更新任何前瞻性陳述的責任。出現在我們的網站和社交媒體平台(包括但不限於Instagram和Facebook)上的信息不在本新聞稿中。

Non-GAAP Financial Measures

非公認會計准則財務指標

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.

本新聞稿包括一項不包括某些項目影響的財務指標,因此沒有根據美國公認會計原則(“GAAP”)進行計算。cbdMD, Inc.之所以納入調整後的運營虧損,是因爲管理層使用該指標來評估經營業績,以突出在依賴根據公認會計原則計算的財務指標時可能不明顯的業務趨勢。調整後的營業虧損未按照公認會計原則編制。不應將這種非公認會計准則財務指標視爲衡量我們經營業績的運營淨虧損的替代方案,也不應比之更有意義。此外,cbdMD, Inc. 提出的這項非公認會計准則財務指標可能無法與其他公司報告的類似標題的指標相提並論。cbdMD, Inc.在本新聞稿中附上了該非公認會計准則財務指標與其最直接可比的GAAP財務指標的對賬情況。

cbdMD, INC.
CONSOLIDATED BALANCE SHEETS
MARCH 31, 2024 AND SEPTEMBER 30, 2023
(unaudited)
March 31, September 30,
2024 2023
Assets
Cash and cash equivalents $ 2,105,396 $ 1,797,860
Accounts receivable, net of allowance for credit losses of $179,419 and $42,180, respectively 868,217 1,216,090
Inventory 3,174,005 4,052,972
Inventory prepaid 277,794 182,675
Prepaid sponsorship 52,078 70,061
Prepaid expenses and other current assets 932,770 750,383
Total current assets 7,410,260 8,070,041
Other assets:
Property and equipment, net 667,979 716,579
Operating lease assets 2,766,290 3,350,865
Deposits for facilities 132,203 138,708
Intangible assets, net 2,873,406 3,219,090
Investment in other securities, noncurrent 700,000 700,000
Total other assets 7,139,878 8,125,242
Total assets $ 14,550,138 $ 16,195,283
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2023 AND SEPTEMBER 30, 2023
(continued)
December 31, September 30,
2023 2023
Liabilities and shareholders' equity
Current liabilities:
Accounts payable $ 1,291,306 $ 1,906,319
Accrued expenses 1,282,028 629,648
Accrued dividends 2,668,000 667,000
Deferred revenue 468,472 187,793
Operating leases - current portion 1,226,764 1,277,089
Note payable - 2,492
Total current liabilities 6,936,570 4,670,341
Long term liabilities:
Convertible notes 2,702,000 -
Other long term liabilities - 9
Operating leases - long term portion 1,824,721 2,403,286
Contingent liability - 90,363
Total long term liabilities 4,526,721 2,493,658
Total liabilities 11,463,291 7,163,999
cbdMD, Inc. shareholders' equity:
Preferred stock, authorized 50,000,000 shares, $0.001
par value, 5,000,000 and 500,000 shares issued and outstanding, respectively 5,000 5,000
Common stock, authorized 150,000,000 shares, $0.001
par value, 3,045,204 and 2,960,573 shares issued and outstanding, respectively 3,045 2,961
Additional paid in capital 183,456,639 183,387,095
Comprehensive other expense (6,000) -
Accumulated deficit (180,371,837) (174,363,772)
Total cbdMD, Inc. shareholders' equity 3,086,847 9,031,284
Total liabilities and shareholders' equity $ 14,550,138 $ 16,195,283
cbdMD, INC.
合併資產負債表
2024 年 3 月 31 日和 2023 年 9 月 30 日
(未經審計)
3月31日 九月三十日
2024 2023
資產
現金和現金等價物 $ 2,105,396 $ 1,797,860
應收賬款,扣除信貸損失備抵金分別爲179,419美元和42,180美元 868,217 1,216,090
庫存 3,174,005 4,052,972
預付庫存 277,794 182,675
預付費贊助 52,078 70,061
預付費用和其他流動資產 932,770 750,383
流動資產總額 7,410,260 8,070,041
其他資產:
財產和設備,淨額 667,979 716,579
經營租賃資產 2,766,290 3,350,865
設施按金 132,203 138,708
無形資產,淨額 2,873,406 3,219,090
投資其他證券,非流動證券 700,000 700,000
其他資產總額 7,139,878 8,125,242
總資產 $ 14,550,138 $ 16,195,283
合併資產負債表
2023 年 12 月 31 日和 2023 年 9 月 30 日
(續)
十二月三十一日 九月三十日
2023 2023
負債和股東權益
流動負債:
應付賬款 $ 1,291,306 $ 1,906,319
應計費用 1,282,028 629,648
應計股息 2,668,000 667,000
遞延收入 468,472 187,793
經營租約-當前部分 1,226,764 1,277,089
應付票據 - 2,492
流動負債總額 6,936,570 4,670,341
長期負債:
可轉換票據 2,702,000 -
其他長期負債 - 9
經營租賃-長期部分 1,824,721 2,403,286
或有負債 - 90,363
長期負債總額 4,526,721 2,493,658
負債總額 11,463,291 7,163,999
CbdMD, Inc. 股東權益:
優先股,授權5000萬股,0.001美元
面值,分別爲已發行和流通的5,000,000股和50萬股 5,000 5000
普通股,授權1.5億股,0.001美元
面值分別爲3,045,204和2,960,573股已發行和流通股票 3,045 2,961
額外已繳資本 183,456,639 183,387,095
綜合其他費用 (6,000) -
累計赤字 (180,371,837) (174,363,772)
cbdMD, Inc. 股東權益總額 3,086,847 9,031,284
負債和股東權益總額 $ 14,550,138 $ 16,195,283
cbdMD, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2024 and 2023
(Unaudited)
Three months Three months Six Months Six Months
Ended Ended Ended Ended
March 31 March 31 March 31 March 31
2024 2023 2024 2023
Gross Sales $ 4,816,444 $ 6,584,666 $ 10,192,075 $ 12,825,191
Allowances (439,926) (344,646) (440,152) (499,954)
Total Net Sales 4,376,518 6,240,020 9,751,923 12,325,237
Cost of sales 1,795,790 2,224,512 3,613,698 4,741,964
Gross Profit 2,580,728 4,015,508 6,138,225 7,583,273
Operating expenses 4,131,719 5,416,151 8,755,053 13,030,097
Loss from operations (1,550,991) (1,400,643) (2,616,828) (5,446,824)
(Increase) decrease of contingent liability 4,828 48,000 74,580 109,000
(increase) decrease in fair value of convertible debt (1,446,000) - (1,446,000) -
Other income - 17,787 - 49,543
Interest expense (18,399) (1,946) (18,817) (4,583)
Loss before provision for income taxes (3,010,562) (1,336,802) (4,007,065) (5,292,864)
Benefit for income taxes - - - -
Net Loss (3,010,562) (1,336,802) (4,007,065) (5,292,864)
Preferred dividends 1,000,500 1,000,500 2,001,000 2,001,002
Net Loss available to cbdMD, Inc. common shareholders $ (4,011,062) $ (2,337,302) $ (6,008,065) $ (7,293,866)
Net Loss per share:
Basic and diluted earnings per share $ (1.35) $ (1.74) $ (2.03) $ (5.43)
Weighted average number of shares Basic and Diluted: 2,961,057 1,345,589 2,961,000 1,343,394
cbdMD, INC.
合併運營報表
在截至2024年和2023年3月31日的三個月和六個月中
(未經審計)
三個月 三個月 六個月 六個月
已結束 已結束 已結束 已結束
3 月 31 日 3 月 31 日 3 月 31 日 3 月 31 日
2024 2023 2024 2023
總銷售額 $ 4,816,444 $ 6,584,666 $ 10,192,075 $ 12,825,191
津貼 (439,926) (344,646) (440,152) (499,954)
淨銷售總額 4,376,518 6,240,020 9,751,923 12,325,237
銷售成本 1,795,790 2,224,512 3,613,698 4,741,964
毛利 2,580,728 4,015,508 6,138,225 7,583,273
運營費用 4,131,719 5,416,151 8,755,053 13,030,097
運營損失 (1,550,991) (1,400,643) (2,616,828) (5,446,824)
或有負債(增加)減少 4,828 48,000 74,580 109,000
可轉換債務的公允價值(增加)下降 (1,446,000) - (1,446,000) -
其他收入 - 17,787 - 49,543
利息支出 (18,399) (1,946) (18,817) (4,583)
所得稅準備金前的虧損 (3,010,562) (1,336,802) (4,007,065) (5,292,864)
所得稅優惠 - - - -
淨虧損 (3,010,562) (1,336,802) (4,007,065) (5,292,864)
優先股息 1,000,500 1,000,500 2,001,000 2,001,002
cbdMD, Inc. 普通股股東可獲得淨虧損 $ (4,011,062) $ (2,337,302) $ (6,008,065) $ (7,293,866)
每股淨虧損:
每股基本收益和攤薄收益 $ (1.35) $ (1.74) $ (2.03) $ (5.43)
基本和攤薄後的加權平均股票數量: 2,961,057 1,345,589 2,961,000 1,343,394
cbdMD, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2024 and 2023
(Unaudited)
Three months Three months Six Months Six Months
Ended Ended Ended Ended
March 31 March 31 March 31 March 31
2024 2023 2024 2023
Net Loss Income $ (3,010,562) $ (1,336,802) $ (4,007,065) $ (5,292,864)
Comprehensive Loss (3,010,562) (1,336,802) (4,007,065) (5,292,864)
Other comprehensive loss (6,000) - (6,000) -
Preferred dividends (1,000,500) (1,000,500) (2,001,000) (2,001,002)
Comprehensive Loss attributable to cbdMD, inc. common shareholders $ (4,017,062) $ (2,337,302) $ (6,014,065) $ (7,293,866)
cbdMD, INC.
綜合損失合併報表
在截至2024年和2023年3月31日的三個月和六個月中
(未經審計)
三個月 三個月 六個月 六個月
已結束 已結束 已結束 已結束
3 月 31 日 3 月 31 日 3 月 31 日 3 月 31 日
2024 2023 2024 2023
淨虧損收入 $ (3,010,562) $ (1,336,802) $ (4,007,065) $ (5,292,864)
綜合損失 (3,010,562) (1,336,802) (4,007,065) (5,292,864)
其他綜合損失 (6,000) - (6,000) -
優先股息 (1,000,500) (1,000,500) (2,001,000) (2,001,002)
歸屬於cbdMD, inc.普通股股東的綜合虧損 $ (4,017,062) $ (2,337,302) $ (6,014,065) $ (7,293,866)
cbdMD, INC.
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE THREE AND SIX ENDED MARCH 31, 2024 AND 2023
(Unaudited)
Six Months Six Months
March 31 March 31
2024 2023
Cash flows from operating activities:
Net Loss $ (4,007,065) $ (5,292,864)
Adjustments to reconcile net loss to net
cash used by operating activities:
Stock based compensation 2,852 96,216
Restricted stock expense 992 100,249
Write off of prepaid assets due to termination of contractual obligation - 884,892
Issuance of stock for services - 1,459,193
Intangibles amortization 345,684 554,709
Depreciation 228,615 100,112
Increase (decrease) in contingent liability (74,580) (109,000)
Increase (decrease) in fair value of convertible debt 1,446,000 -
Amortization of operating lease asset 584,574 556,646
Changes in operating assets and liabilities:
Accounts receivable 301,132 286,278
Deposits 6,505 105,898
Inventory 878,967 135,176
Prepaid inventory (95,119) 100,307
Prepaid expenses and other current assets (164,404) (1,544,308)
Accounts payable and accrued expenses 449,287 (855,872)
Operating lease liability (628,891) (580,325)
Deferred revenue / customer deposits (84,497) 203,341
Collection on discontinued operations accounts receivable - 1,375
Cash used by operating activities (809,948) (3,797,977)
Cash flows from investing activities:
Proceeds from sale of other investment securities - -
Purchase of property and equipment (180,015) (74,980)
Other securities - 1,000,000
Cash used by investing activities (180,015) 925,020
Cash flows from financing activities:
Proceeds from issuance of common stock 50,000 -
Note payable 1,247,499 (127,725)
Preferred dividend distribution - (2,001,000)
Cash used by financing activities 1,297,499 (2,128,725)
Net decrease in cash 307,536 (5,001,682)
Cash and cash equivalents, beginning of period 1,797,860 6,720,234
Cash and cash equivalents, end of period $ 2,105,396 $ 1,718,552
Supplemental Disclosures of Cash Flow Information:
2023 2022
Cash Payments for:
Interest expense $ 88,961 $ 2,638
Non-cash financial activities:
Preferred dividends accrued but not paid $ 2,001,000 $ -
cbdMD, INC.
合併現金流量表
截至2024年3月31日和2023年3月31日的三和六輪比賽
(未經審計)
六個月 六個月
3 月 31 日 3 月 31 日
2024 2023
來自經營活動的現金流:
淨虧損 $ (4,007,065) $ (5,292,864)
爲調節淨虧損與淨虧損而進行的調整
經營活動使用的現金:
基於股票的薪酬 2,852 96,216
限制性股票支出 992 100,249
因合同義務終止而註銷預付資產 - 884,892
發行服務股票 - 1,459,193
無形資產攤銷 345,684 554,709
折舊 228,615 100,112
或有負債增加(減少) (74,580) (109,000)
可轉換債務公允價值的增加(減少) 1,446,000 -
經營租賃資產的攤銷 584,574 556,646
運營資產和負債的變化:
應收賬款 301,132 286,278
存款 6,505 105,898
庫存 878,967 135,176
預付庫存 (95,119) 100,307
預付費用和其他流動資產 (164,404) (1,544,308)
應付賬款和應計費用 449,287 (855,872)
經營租賃責任 (628,891) (580,325)
遞延收入/客戶存款 (84,497) 203,341
已終止業務應收賬款的收款 - 1,375
經營活動使用的現金 (809,948) (3,797,977)
來自投資活動的現金流:
出售其他投資證券的收益 - -
購買財產和設備 (180,015) (74,980)
其他證券 - 1,000,000
投資活動使用的現金 (180,015) 925,020
來自融資活動的現金流:
發行普通股的收益 50,000 -
應付票據 1,247,499 (127,725)
優先股息分配 - (2,001,000)
融資活動使用的現金 1,297,499 (2,128,725)
現金淨減少 307,536 (5,001,682)
現金和現金等價物,期初 1,797,860 6,720,234
現金和現金等價物,期末 $ 2,105,396 $ 1,718,552
現金流信息的補充披露:
2023 2022
以下各項的現金支付:
利息支出 $ 88,961 $ 2,638
非現金金融活動:
已累計但未支付的優先股息 $ 2,001,000 $ -
cbdMD, Inc.
SUPPLEMENTAL FINANCIAL INFORMATION
RECONCILIATION OF NON-GAAP ADJUSTED LOSS FROM OPERATIONS
(unaudited)
Three months Three months Six Months Six Months
Ended Ended Ended Ended
March 31 March 31 March 31 March 31
2024 2023 2024 2023
GAAP loss from operations $ (1,550,991) $ (1,400,643) $ (2,616,828) $ (5,446,824)
Adjustments:
Depreciation & Amortization 290,592 379,744 574,299 757,210
Employee and director stock compensation (1) 11,944 117,821 28,486 254,965
Other non-cash stock compensation for services (2) - - - 884,892
Expenses related to Convertible Note financing (3) 58,239 - 58,239 -
Accrual for severance - - - 129,761
Non-cash expense incurred as a credit (4) 439,926 - 439,926 -
Mergers and Acquisitions and financing transaction expenses (5) - - 67,599 -
Non-cash accelerated amortization of expense related to terminated IT contracts 72,101 - 72,101 -
a-369 non-cash trade credit - 107,608 - 107,608
Non-GAAP adjusted loss from operations $ (678,189) $ (795,470) $ (1,376,178) $ (3,312,387)
cbdMD, Inc.
補充財務信息
非公認會計准則調整後的運營虧損的對賬
(未經審計)
三個月 三個月 六個月 六個月
已結束 已結束 已結束 已結束
3 月 31 日 3 月 31 日 3 月 31 日 3 月 31 日
2024 2023 2024 2023
GAAP 運營虧損 $ (1,550,991) $ (1,400,643) $ (2,616,828) $ (5,446,824)
調整:
折舊和攤銷 290,592 379,744 574,299 757,210
員工和董事的股票薪酬 (1) 11,944 117,821 28,486 254,965
服務的其他非現金股票補償 (2) - - - 884,892
與可轉換票據融資相關的費用 (3) 58,239 - 58,239 -
遣散費應計金額 - - - 129,761
貸方產生的非現金支出 (4) 439,926 - 439,926 -
併購和融資交易費用 (5) - - 67,599 -
以非現金方式加速攤銷與終止的IT合同相關的費用 72,101 - 72,101 -
a-369 非現金貿易信貸 - 107,608 - 107,608
非公認會計准則調整後的運營虧損 $ (678,189) $ (795,470) $ (1,376,178) $ (3,312,387)

(1) Represents non-cash expense related to options, warrants, restricted stock expenses that have been amortized during the period.
(2) Represents non-cash expense related to options, warrants, restricted stock expenses that have been amortized during the period.
(3) Represents expenses incurred related to the issuance of the Notes.
(4) Represents non-cash expense incurred as a credit provided to GNC to replace expired product.
(5) Represents expenses incurred in relation to M&A and financing activities during the six months ended March 31, 2024.

(1) 代表該期間已攤銷的與期權、認股權證、限制性股票支出相關的非現金支出。
(2) 代表該期間已攤銷的與期權、認股權證、限制性股票支出相關的非現金支出。
(3) 代表與發行票據相關的費用。
(4) 代表向GNC提供信貸以更換過期產品而產生的非現金支出。
(5) 代表截至2024年3月31日的六個月中與併購和融資活動相關的費用。

Contacts:

聯繫人:

Investors:
cbdMD, Inc.
Ronan Kennedy
Chief Executive Officer and Chief Financial Officer
IR@cbdmd.com
(704) 445-3064

投資者:
cbdMD, Inc.
羅南·肯尼迪
首席執行官兼首席財務官
IR@cbdmd.com
(704) 445-3064

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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