Wednesday, January 19, 2022

cbdMD Inc. (YCBD) stock plunged during pre-market trading, following its financial earnings

cbdMD Inc. (NASDAQ: YCBD) stock gained by 17.70% at the last close whereas the YCBD stock price declines by 9.02% in the pre-market trading session. cbdMD is a widely known and well-recognized cannabidiol (CBD) company that offers a full line of THC-free1 CBD products made in the United States, as well as their new Full Spectrum items.


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YCBD stock’ Financial Highlights

cbdMD, Inc. has released its financial outcomes for the fourth quarter and fiscal year 2021.

  • For the full-year fiscal 2021, the net sales climbed by 6% to $44.5, up from $41.8 million in fiscal 2020. Net sales during the fourth quarter of fiscal 2021 fell 16 percent year on year to $9.8 million, down from $11.7 million in the fourth quarter of fiscal 2020.
  • The gross profit margin of YCBD improved from 63 percent in fiscal 2020 to 67 percent in fiscal 2021. In fiscal 2021, their non-GAAP adjusted gross margin was 19.6 percent, compared to 67.7 percent in fiscal 2020. Gross profit margin increased to 58.6 percent in the fourth quarter of fiscal 2021 from 54.4 percent in the fourth quarter of fiscal 2020.
  • In fiscal 2021, the firm lost $19.6 million from operations, relative to a loss of $17.5 million in fiscal 2020, mostly due to higher advertising expenditure and investment in cbdMD Therapeutics. Our operating loss was roughly $7.0 million in the fourth quarter of fiscal 2021, compared to $4.5 million in the previous year’s quarter.
  • In fiscal 2021, the non-GAAP adjusted loss from operations was about $13.6 million, relative to the non-adjusted loss from operations of about $11.5 million in fiscal 2020. The non-GAAP adjusted operating loss was about $4.8 million for the fourth quarter of fiscal 2021, relative to the non-adjusted operating loss of $1.2 million in the previous year’s quarter.

Chairman and co-CEO, Martin A. Sumichrast commented that,


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The firm entered the CBD sector three years ago with the purchase of Cure Based Development, the holder of their flagship brand, cbdMD. In addition, it Is also the third anniversary of the Farm Bill, which legalized CBD in the United States. They have grown from an unheard start-up brand fighting against thousands of other CBD companies, outperforming the pack, to securely place themselves at the peak of the CBD sector, with their three leading brands, in three years’ time.

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