CV Sciences, Inc. Reports Second Quarter 2025 Financial Results
CV Sciences (OTCQB:CVSI), a consumer wellness company focused on hemp extracts, reported its Q2 2025 financial results. Revenue reached $3.6 million, down 8% from Q2 2024's $4.0 million, primarily due to state regulatory pressures affecting sales volume.
The company achieved its highest gross margin in 23 quarters at 50.9%, up from 47.0% in Q2 2024. CV Sciences reported positive adjusted EBITDA of $0.1 million, its first positive EBITDA since Q2 2019, compared to a $6,000 loss in Q2 2024. Cash balance improved to $0.9 million from $0.5 million at 2024 year-end.
Notably, 39% of Q2 2025 revenue came from new products launched since January 2023, with 34 new products introduced during this period. The company continues to focus on organic growth through product development and M&A opportunities while working to improve profitability through in-sourcing production via its Elevated Softgels acquisition.
CV Sciences (OTCQB:CVSI), azienda del settore benessere specializzata negli estratti di canapa, ha comunicato i risultati finanziari del Q2 2025. I ricavi sono stati di $3.6 million, in calo dell'8% rispetto ai $4.0 million del Q2 2024, principalmente a causa di pressioni regolatorie statali che hanno ridotto i volumi di vendita.
La società ha registrato il margine lordo più alto in 23 trimestri, pari al 50.9%, rispetto al 47.0% del Q2 2024. CV Sciences ha riportato un EBITDA rettificato positivo di $0.1 million, il primo EBITDA positivo dal Q2 2019, rispetto a una perdita di $6,000 nel Q2 2024. La posizione di cassa è migliorata a $0.9 million dai $0.5 million a fine 2024.
Da notare che il 39% dei ricavi del Q2 2025 è derivato da prodotti lanciati da gennaio 2023, con 34 nuovi prodotti introdotti in questo periodo. L'azienda continua a puntare sulla crescita organica tramite sviluppo prodotto e opportunità di M&A, lavorando per migliorare la redditività internalizzando la produzione grazie all'acquisizione di Elevated Softgels.
CV Sciences (OTCQB:CVSI), empresa de bienestar centrada en extractos de cáñamo, presentó sus resultados financieros del Q2 2025. Los ingresos alcanzaron $3.6 million, una caÃda del 8% respecto a los $4.0 million del Q2 2024, principalmente por presiones regulatorias estatales que afectaron el volumen de ventas.
La compañÃa logró su margen bruto más alto en 23 trimestres, del 50.9%, frente al 47.0% del Q2 2024. CV Sciences reportó un EBITDA ajustado positivo de $0.1 million, su primer EBITDA positivo desde el Q2 2019, comparado con una pérdida de $6,000 en el Q2 2024. El saldo de caja mejoró a $0.9 million desde $0.5 million a finales de 2024.
En particular, el 39% de los ingresos del Q2 2025 provino de productos lanzados desde enero de 2023, con 34 nuevos productos introducidos en ese perÃodo. La empresa continúa centrada en el crecimiento orgánico a través del desarrollo de producto y oportunidades de M&A, y busca mejorar la rentabilidad mediante la internalización de la producción a través de la adquisición de Elevated Softgels.
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ÐëŒì‚¬µç� 23분기 ë§Œì— ê°€ìž� ë†’ì€ 50.9%ì� 매출ì´ì´ìµë¥ ì� 기ë¡í–ˆìœ¼ë©�, ì´ëŠ” 2024ë…� 2분기ì� 47.0%ì—서 ê°œì„ ë� 수치입니ë‹�. CV SciencesëŠ� ì¡°ì • EBITDAê°€ $0.1 million í‘ìžë¥� 기ë¡í•� 2019ë…� 2분기 ì´í›„ 처ìŒìœ¼ë¡œ í‘ìžë¥� 달성했으ë©�, 2024ë…� 2분기ì—는 $6,000ì� ì†ì‹¤ì� ë³´ê³ í–ˆìŠµë‹ˆë‹¤. 현금 ìž”ì•¡ì€ 2024ë…� ë§� $0.5 millionì—서 $0.9 million으로 ê°œì„ ë습니다.
특히 2025ë…� 2분기 매출ì� 39%ê°€ 2023ë…� 1ì›� ì´í›„ 출시ë� ì‹ ì œí’ˆì—ì„� ë°œìƒí–ˆìœ¼ë©�, ì� 기간 ë™ì•ˆ 34ê°œì˜ ì‹ ì œí’ˆì„ ì„ ë³´ì˜€ìŠµë‹ˆë‹�. ÐëŒì‚¬µç� ì œí’ˆ 개발ê³� M&A 기회ë¥� 통한 ìœ ê¸°ì � 성장ì—� ê³„ì† ì£¼ë ¥í•˜ëŠ” 한편, Elevated Softgels ì¸ìˆ˜ë¥� 통해 ìƒì‚°ì� 내부화하ì—� 수ìµì„� ê°œì„ ì� ì¶”ì§„í•˜ê³ ìžˆìŠµë‹ˆë‹¤.
CV Sciences (OTCQB:CVSI), société de bien‑être spécialisée dans les extraits de chanvre, a publié ses résultats financiers du T2 2025. Le chiffre d'affaires s'est élevé à $3.6 million, en baisse de 8% par rapport aux $4.0 million du T2 2024, principalement en raison de pressions réglementaires au niveau des États qui ont réduit le volume des ventes.
L'entreprise a enregistré la marge brute la plus élevée en 23 trimestres, à 50.9%, contre 47.0% au T2 2024. CV Sciences a déclaré un EBITDA ajusté positif de $0.1 million, son premier EBITDA positif depuis le T2 2019, comparé à une perte de $6,000 au T2 2024. La trésorerie est passée de $0.5 million à la fin 2024 à $0.9 million.
Notamment, 39% des revenus du T2 2025 provenaient de produits lancés depuis janvier 2023, avec 34 nouveaux produits introduits sur cette période. La société poursuit sa stratégie de croissance organique via le développement de produits et des opportunités de M&A, tout en cherchant à améliorer la rentabilité en internalisant la production grâce à l'acquisition d'Elevated Softgels.
CV Sciences (OTCQB:CVSI), ein auf Hanfextrakte fokussiertes Wellness-Unternehmen, veröffentlichte seine Finanzergebnisse für Q2 2025. Der Umsatz lag bei $3.6 million, ein Rückgang von 8% gegenüber $4.0 million im Q2 2024, hauptsächlich aufgrund staatlicher Regulierungsdrucke, die das Verkaufsvolumen beeinträchtigten.
Das Unternehmen erzielte die höchste Bruttomarge seit 23 Quartalen von 50.9%, gegenüber 47.0% im Q2 2024. CV Sciences meldete ein bereinigtes EBITDA von $0.1 million positiv, das erste positive EBITDA seit Q2 2019, im Vergleich zu einem Verlust von $6,000 im Q2 2024. Die liquiden Mittel stiegen von $0.5 million zum Jahresende 2024 auf $0.9 million.
Bemerkenswert ist, dass 39% des Umsatzes im Q2 2025 aus seit Januar 2023 eingeführten neuen Produkten stammten; in diesem Zeitraum wurden 34 neue Produkte eingeführt. Das Unternehmen setzt weiterhin auf organisches Wachstum durch Produktentwicklung und M&A‑Chancen und arbeitet daran, die Rentabilität durch Insourcing der Produktion mittels der Übernahme von Elevated Softgels zu verbessern.
- Achieved highest gross margin (50.9%) in 23 quarters
- First positive adjusted EBITDA ($0.1M) since Q2 2019
- Cash balance increased to $0.9M from $0.5M at 2024 year-end
- 39% of revenue from new products launched since 2023
- Operating loss improved to $0.1M from $0.6M in Q2 2024
- Revenue declined 8% year-over-year to $3.6M
- Unit sales volume decreased by 7.0%
- Average sales prices dropped by 2.8%
- Continued pressure from state regulatory environment
- Still operating at a loss despite improvements
SAN DIEGO, CA / / August 13, 2025 / CV Sciences, Inc. (OTCQB:CVSI) (the "Company", "CV Sciences", "our", "us" or "we"), a preeminent consumer wellness company specializing in hemp extracts and other proven science-backed, natural ingredients and products, today announced its financial results for the quarter ended June 30, 2025.
Second Quarter 2025 and Recent Financial and Operating Highlights
Generated revenue of
$3.6 million for the second quarter 2025 compared to$4.0 million for the second quarter 2024 and compared to$3.6 million for the first quarter 2025;Recognized gross margin of
50.9% for the second quarter 2025 compared to47.0% for the second quarter 2024 and compared to46.0% for the first quarter 2025; highest gross margin since the third quarter 2019;Cash balance of
$0.9 million at quarter end compared to$0.5 million at the end of 2024; andRecognized positive adjusted EBITDA of
$0.1 million for the second quarter 2025 compared to an adjusted EBITDA loss of$6,000 for the second quarter 2024 and compared to an adjusted EBITDA loss of$0.3 million for the first quarter 2025; first positive adjusted EBITDA since the second quarter 2019.
"We are pleased with our second quarter 2025 results. Our gross margin of
Operating Results - Second Quarter 2025 Compared to Second Quarter 2024
Sales for second quarter 2025 were
We generated an operating loss of
Conference Call and Webcast
The Company will host a conference call and webcast to discuss these results today at 4:30 pm EDT/1:30 pm PDT. The webcast of the conference call will be available on the Investor Relations section of the Company's website at https://ir.cvsciences.com/news-events or directly at . Investors interested in participating in the live call can also dial (877) 407-0784 from the U.S. or international callers can dial (201) 689-8560. A telephone replay will be available approximately three hours after the call concludes, and will be available through Wednesday, August 20, 2025, by dialing (844) 512-2921 from the U.S. or (412) 317-6671 from international locations, and entering confirmation code 13754956.
About CV Sciences, Inc.
CV Sciences, Inc. (OTCQB:CVSI) is a consumer wellness company specializing in nutraceuticals and plant-based foods. The Company's hemp extracts and other proven, science-backed, natural ingredients and products are sold through a range of sales channels from B2B to B2C. The Company's +PlusCBD� branded products are sold at select retail locations throughout the U.S. and are the top-selling hemp-extract brand in the natural products market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. With a commitment to science, PlusCBD� product benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on PubMed.gov. +PlusCBD� was the first hemp extract supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. The Company also produces cannabinoid-free supplements under its +PlusHLTH� brand, with targeted formulations to optimize health, improve performance, and increase vitality. Our Cultured Foods� brand provides a variety of
Forward Looking Statements
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risk and uncertainties. CV Sciences does not undertake any obligation to publicly update any forward-looking statements, except as required by applicable law. As a result, investors should not place undue reliance on such forward-looking statements.
Contact Information
CV SCIENCES, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands, except per share data)
Three Months Ended | Six Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Product sales, net | $ | 3,620 | $ | 3,954 | $ | 7,226 | $ | 7,956 | ||||||||
Cost of goods sold | 1,776 | 2,094 | 3,724 | 4,243 | ||||||||||||
Gross profit | 1,844 | 1,860 | 3,502 | 3,713 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | 50 | 28 | 80 | 64 | ||||||||||||
Selling, general and administrative | 1,925 | 2,415 | 4,064 | 4,852 | ||||||||||||
Benefit from reversal of accrued payroll taxes | - | - | (522 | ) | - | |||||||||||
Total operating expenses | 1,975 | 2,443 | 3,622 | 4,916 | ||||||||||||
Operating loss | (131 | ) | (583 | ) | (120 | ) | (1,203 | ) | ||||||||
Gain on extinguishment of debt | - | - | (38 | ) | - | |||||||||||
Interest expense, net | 130 | 1 | 281 | 3 | ||||||||||||
Loss before income taxes | (261 | ) | (584 | ) | (363 | ) | (1,206 | ) | ||||||||
Income tax expense | - | - | 7 | 6 | ||||||||||||
Net loss | $ | (261 | ) | $ | (584 | ) | $ | (370 | ) | $ | (1,212 | ) | ||||
Weighted average common shares outstanding, basic and diluted | 184,264 | 172,418 | 184,264 | 167,823 | ||||||||||||
Net loss per common share, basic and diluted | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) |
CV SCIENCES, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except per share data)
June 30, | December 31, 2024 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash | $ | 886 | $ | 454 | ||||
Accounts receivable, net | 545 | 522 | ||||||
Inventory | 4,216 | 4,897 | ||||||
Prepaid expenses and other | 295 | 370 | ||||||
Total current assets | 5,942 | 6,243 | ||||||
Property and equipment, net | 363 | 399 | ||||||
Right of use assets | 472 | 94 | ||||||
Intangibles, net | 88 | 93 | ||||||
Goodwill | 1,013 | 971 | ||||||
Other assets | 72 | 127 | ||||||
Total assets | $ | 7,950 | $ | 7,927 | ||||
Liabilities and stockholders' equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 1,440 | $ | 1,925 | ||||
Accrued expenses | 3,003 | 3,424 | ||||||
Current portion of operating lease liability | 239 | 83 | ||||||
Current portion of long-term debt, net of debt issuance costs | 1,023 | 677 | ||||||
Total current liabilities | 5,705 | 6,109 | ||||||
Operating lease liability | 230 | 19 | ||||||
Debt, net of debt issuance costs | 208 | - | ||||||
Deferred tax liability | 4 | 4 | ||||||
Total liabilities | 6,147 | 6,132 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity | ||||||||
Preferred stock, par value | - | - | ||||||
Common stock, par value | 18 | 18 | ||||||
Additional paid-in capital | 89,083 | 88,773 | ||||||
Accumulated deficit | (87,351 | ) | (86,981 | ) | ||||
Accumulated other comprehensive income (loss) | 53 | (15 | ) | |||||
Total stockholders' equity | 1,803 | 1,795 | ||||||
Total liabilities and stockholders' equity | $ | 7,950 | $ | 7,927 |
CV SCIENCES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
Six Months Ended | ||||||||
2025 | 2024 | |||||||
OPERATING ACTIVITIES | ||||||||
Net loss | $ | (370 | ) | $ | (1,212 | ) | ||
Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities: | ||||||||
Depreciation and amortization | 140 | 139 | ||||||
Stock-based compensation | 250 | 67 | ||||||
Amortization of debt discount | 279 | - | ||||||
Amortization of right of use assets | 112 | 78 | ||||||
Gain on debt extinguishment | (38 | ) | - | |||||
Benefit from reversal of accrued payroll tax | (522 | ) | - | |||||
Other | 105 | 158 | ||||||
Change in operating assets and liabilities: | ||||||||
Accounts receivable, net | (12 | ) | (200 | ) | ||||
Inventory | 698 | 513 | ||||||
Prepaid expenses and other | 77 | 125 | ||||||
Accounts payable and accrued expenses | (513 | ) | (243 | ) | ||||
Net cash flows provided by (used in) operating activities | 206 | (575 | ) | |||||
INVESTING ACTIVITIES | ||||||||
Purchases of property and equipment | (89 | ) | - | |||||
Acquisition of business, net of cash acquired | - | (40 | ) | |||||
Net cash flows used in investing activities | (89 | ) | (40 | ) | ||||
FINANCING ACTIVITIES | ||||||||
Proceeds from note payable | 1,200 | - | ||||||
Debt issuance costs related to note payable | (82 | ) | - | |||||
Repayment of note payable | (686 | ) | (50 | ) | ||||
Repayment of unsecured debt | (119 | ) | (173 | ) | ||||
Net cash flows provided by (used in) financing activities | 313 | (223 | ) | |||||
Effect of exchange rate changes on cash | 2 | (2 | ) | |||||
Net increase (decrease) in cash | 432 | (840 | ) | |||||
Cash, beginning of period | 454 | 1,317 | ||||||
Cash, end of period | $ | 886 | $ | 477 | ||||
Supplemental cash flow disclosures: | ||||||||
Interest paid | $ | 4 | $ | 6 | ||||
Income tax paid | $ | 7 | $ | 6 | ||||
Supplemental disclosure of non-cash transactions: | ||||||||
Services paid with common stock | $ | 60 | $ | 62 | ||||
Right of use asset financed by lease liabilities | $ | 486 | $ | - | ||||
Original issuance discount for note payable | $ | (400 | ) | $ | - | |||
Fair value of net assets acquired, excluding cash | $ | - | $ | 447 | ||||
Goodwill on acquisition | $ | - | $ | 393 | ||||
Common stock consideration | $ | - | $ | (700 | ) | |||
Contingent consideration | $ | - | $ | (100 | ) | |||
Cash paid for acquisition | $ | - | $ | 40 |
CV SCIENCES, INC.
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
We prepare our consolidated financial statements in accordance with generally accepted accounting principles for the United States (GAAP). The non-GAAP financial measures, such as net income (loss) per share and Adjusted EBITDA included in this press release are different from those otherwise presented under GAAP. We use non-GAAP measures internally to evaluate our performance and make financial and operational decisions that are presented in a manner that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. The non-GAAP financial measures exclude non-cash compensation expense for stock options. When evaluating the performance of our business and developing short and long-term plans, we do not consider share-based compensation charges. Although share-based compensation is necessary to attract and retain quality employees, our consideration of share-based compensation places its primary emphasis on overall shareholder dilution rather than the accounting charges associated with such grants. Because of the varying availability of valuation methodologies and subjective assumptions, we believe that the exclusion of share-based compensation allows for more accurate comparison of our financial results to previous periods. In addition, we believe it useful to investors to understand the specific impact of the application of the fair value method of accounting for share-based compensation on our operating results.
Adjusted EBITDA is defined by us as EBITDA (net loss plus depreciation, amortization, interest, and income tax expense, further adjusted to exclude certain non-cash expenses and other adjustments as set forth below. We use Adjusted EBITDA because we believe it more clearly highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since Adjusted EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.
We use Adjusted EBITDA in communicating certain aspects of our results and performance, including in this press release, and believe that Adjusted EBITDA, when viewed in conjunction with our GAAP results and the accompanying reconciliation, can provide investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of Adjusted EBITDA is useful to investors in making period-to-period comparison of results because the adjustments to GAAP are not reflective of our core business performance.
A reconciliation from our GAAP net loss to non-GAAP net income (loss) for the three and six months ended June 30, 2025 and 2024 is detailed below (in thousands, except per share data):
Three Months Ended | Six Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net loss - GAAP | $ | (261 | ) | $ | (584 | ) | $ | (370 | ) | $ | (1,212 | ) | ||||
Stock-based compensation (1) | 132 | 37 | 250 | 67 | ||||||||||||
Benefit from reversal of accrued payroll tax (2) | - | - | (522 | ) | - | |||||||||||
Gain on debt extinguishment (3) | - | - | (38 | ) | - | |||||||||||
Note discount (4) | 130 | - | 279 | - | ||||||||||||
Net income (loss) - non-GAAP | $ | 1 | $ | (547 | ) | $ | (401 | ) | $ | (1,145 | ) | |||||
Diluted EPS - GAAP | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | ||||
Stock-based compensation (1) | - | - | - | - | ||||||||||||
Benefit from reversal of accrued payroll tax (2) | - | - | - | - | ||||||||||||
Gain on debt extinguishment (3) | - | - | - | - | ||||||||||||
Note discount (4) | - | - | - | - | ||||||||||||
Diluted EPS - non-GAAP | $ | 0.00 | $ | (0.00 | ) | $ | (0.00 | ) | $ | (0.01 | ) | |||||
Shares used to calculate diluted EPS - GAAP and non-GAAP | 184,264 | 172,418 | 184,264 | 167,823 |
Represents stock-based compensation expense related to stock options awarded to employees and non-executive directors based on the grant date fair value using the Black-Scholes valuation model.
Represents benefit from reversal of accrued payroll tax associated with RSU release to founder in 2019.
Represents gain on extinguishment of debt related to our Streeterville note payable.
Represents amortization of OID/debt issuance costs for notes payable.
A reconciliation from our net loss to Adjusted EBITDA, a non-GAAP measure, for the three and six months ended June 30, 2025 and 2024 is detailed below (in thousands):
Three Months Ended | Six Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net loss | $ | (261 | ) | $ | (584 | ) | $ | (370 | ) | $ | (1,212 | ) | ||||
Depreciation expense | 52 | 71 | 128 | 130 | ||||||||||||
Amortization expense | 6 | 5 | 12 | 9 | ||||||||||||
Interest expense, net | 130 | 1 | 281 | 3 | ||||||||||||
Income tax expense | - | - | 7 | 6 | ||||||||||||
EBITDA | (73 | ) | (507 | ) | 58 | (1,064 | ) | |||||||||
Stock-based compensation (1) | 132 | 37 | 250 | 67 | ||||||||||||
Professional fees associated with legal dispute (2) | - | 464 | - | 693 | ||||||||||||
Benefit from reversal of accrued payroll tax (3) | - | - | (522 | ) | - | |||||||||||
Gain on debt extinguishment (4) | - | - | (38 | ) | - | |||||||||||
Adjusted EBITDA | $ | 59 | $ | (6 | ) | $ | (252 | ) | $ | (304 | ) |
Represents stock-based compensation expense related to stock options awarded to employees and non-executive directors based on the grant date fair value using the Black-Scholes valuation model.
Represents legal and other professional expenses incurred during 2024 associated with the legal dispute with founder.
Represents benefit from reversal of accrued payroll tax associated with RSU release to founder in 2019.
Represents gain on extinguishment of debt related to our Streeterville note payable.
SOURCE: CV Sciences, Inc.
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