CbdMD's Financial Results: Cost-Cutting Measures For Positive Cash Flow Amid Increasing Losses
CbdMD's Financial Results: Cost-Cutting Measures For Positive Cash Flow Amid Increasing Losses
cbdMD, Inc. (NYSE:YCBD) announced its financial results for the second quarter of fiscal 2024, ending March 31, 2024. Despite an increase in operational losses from $1.4 million in Q2 fiscal 2023 to $1.5 million in Q2 fiscal 2024, management remains optimistic.
cbdMD, Inc.（紐約證券交易所代碼：YCBD）公佈了截至2024年3月31日的2024財年第二季度的財務業績。儘管運營虧損從2023財年第二季度的140萬美元增加到2024財年第二季度的150萬美元，但管理層仍然樂觀。
"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," Ronan Kennedy, CEO & CFO of cbdMD, stated.
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。”
Cost-Cutting Measures And Financial Projections
削減成本的措施和財務預測
cbdMD reported implementing cost-cutting measures projected to save approximately $2.4 million annually by August, including staff reductions, renegotiated vendor contracts and consolidation operations to save $0.6 million per quarter.
cbdMD報告稱，實施的削減成本措施預計到8月份每年將節省約240萬美元，包括裁員、重新談判供應商合同和整合業務，每季度節省60萬美元。
These efforts aim to position the company for positive cash flow in upcoming quarters.
這些努力旨在使公司在未來幾個季度實現正現金流。
"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," Kennedy added.
“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，” 肯尼迪補充說。
Key Financial Metrics
關鍵財務指標
- Net Sales: $4.4 million for Q2 fiscal 2024, down 30% from $6.2 million in Q2 fiscal 2023. For the six months ended March 2024, net sales were $9.8 million, down from $12.3 million in the prior year period.
- Net Loss: $4.0 million, or $1.35 per share, in Q2 fiscal 2024, compared to $2.3 million, or $1.74 per share, in Q2 fiscal 2023, largely due to a $1.4 million non-cash contingency liability increase.
- Gross Profit: 59% in Q2 fiscal 2024, compared to 64% in Q2 fiscal 2023, impacted by a $0.44 million credit issued to a wholesale customer.
- Wholesale Net Sales: $0.75 million in Q2 fiscal 2024, down 44% from $1.3 million in Q2 fiscal 2023.
- Working Capital: $3.2 million (excluding accrued preferred dividend) and $2.1 million cash on hand at March 31, 2024, compared to $4.1 million working capital and $1.8 million cash on hand at September 30, 2023.
- 淨銷售額：2024財年第二季度的淨銷售額爲440萬美元，較2023財年第二季度的620萬美元下降了30％。在截至2024年3月的六個月中，淨銷售額爲980萬美元，低於去年同期的1,230萬美元。
- 淨虧損：2024財年第二季度爲400萬美元，合每股虧損1.35美元，而2023財年第二季度爲230萬美元，合每股虧損1.74美元，這主要是由於非現金應急負債增加了140萬美元。
- 毛利：受向批發客戶發放的44萬美元信貸的影響，2024財年第二季度爲59％，而2023財年第二季度爲64％。
- 批發淨銷售額：2024財年第二季度爲75萬美元，較2023財年第二季度的130萬美元下降44％。
- 營運資金：截至2024年3月31日，320萬美元（不包括應計優先股息）和210萬澳元的手頭現金，而截至2023年9月30日，營運資金爲410萬美元，手頭現金爲180萬美元。
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Outlook And Future Prospects
展望和未來展望
cbdMD is optimistic about revenue growth in the third fiscal quarter of 2024, expecting it to surpass the March 2024 quarter. The company's ATRx Platinum line's national rollout at GNC is seen as a key growth driver, expanding its market presence into functional mushrooms.
cbdMD對2024年第三財季的收入增長持樂觀態度，預計收入將超過2024年3月的季度。該公司的ATrX Platinum系列在GNC的全國推廣被視爲關鍵的增長動力，將其市場份額擴展到功能性蘑菇。
Photo: AI-Generated Image.
照片：人工智能生成的圖像。
譯文內容由第三人軟體翻譯。