cbdMD Generates $4.6 Million of Revenue for the 3rd QuarterAnnounces Oasis Expands into Multiple New StatesAugust 14, 2025 4:08 PM EDT | Source: cbdMDCharlotte, North Carolina--(Newsfile Corp. - August 14, 2025) - cbdMD, Inc. (NYSE American: YCBD), 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, and Herbal Oasis today announced our financial results for the third quarter of fiscal year ended September 3 ...

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 North Carolina 47-3414576 State or Other Jurisdiction of Incorporation or Organization I.R.S. Employer Identification No. 2101 Westinghouse Blvd., Suite A, Charlotte, NC 28273 ...

cbdMD, Inc. to Host Conference Call to Discuss June 30, 2025, Third Quarter of Fiscal Year 2025 ResultsAugust 12, 2025 10:22 AM EDT | Source: cbdMDCharlotte, North Carolina--(Newsfile Corp. - August 12, 2025) - cbdMD, Inc. (NYSE American: YCBD), one of the nation's leading, highly trusted and widely recognized CBD companies, today announces that it will host a conference call at 4:20 p.m., Eastern Time, on Thursday, August 14, 2025, to discuss the company's June 30, 2025 third quarter of fisca ...

Company Overview - cbdMD was acquired in December 2018 and had FY23 net sales of $24 million[9] - The company reduced headcount from 180 to 48[21] - The company achieved $12 million in annual run-rate SG&A cost reductions in 1Q24 compared to 1Q23[20] Market Position and Brand Strength - 95% of cbdMD customers reported product effectiveness in 2023, a 6% increase from 89% in 2022[39, 40] - cbdMD is positioned within the top 10 brands in the US market for both gummies and tinctures categories[33] - The company's products have received several awards, including the 2023 Pet Innovation Award and 2024 Wholefoods Natural Choice Awards[30] Financial Performance - In Q1 2024, revenue was $538 million, gross profit was $355 million, and total SG&A was $465 million[97] - GAAP loss from operations in Q1 2024 was $110 million[97] Market Opportunities - The US CBD market is expected to double to $10 billion by 2028[65] - IBIS World predicts the CBD industry will grow at 28% in 2023 and 2024[67] - The global functional mushroom market was valued at $3171 billion in 2023 and is expected to grow at a CAGR of 112% from 2024 to 2030[70, 71]

Company Overview - cbdMD, Inc. is a leading and trusted brand in the wellness and cannabinoid industry, recognized for its comprehensive line of U.S. produced, THC-free CBD products and Delta 9 products [6] - The company has launched its Herbal Oasis Social Tonics, a premium line of hemp-derived THC seltzers, which debuted in late 2024 [1][5] Product Launch and Expansion - The Herbal Oasis Social Tonics are now available at select Total Wine locations in Charlotte and surrounding areas, marking a significant retail debut [1] - The company aims to expand the availability of Oasis Social Tonics throughout North Carolina, indicating a commitment to growth in the region [2] Product Features - Herbal Oasis Social Tonics are designed for mindful socialization, combining hemp-derived THC and CBG with nootropic mushrooms and adaptogens, offering an alternative to traditional alcoholic beverages [3] - The tonics are available in four flavors: Berry Fusion, Lemon Lift, Mango Bliss, and Tropical Twist, and are low-calorie, infused with L-theanine and B12 [3] Strategic Vision - The CEO of cbdMD, Ronan Kennedy, expressed enthusiasm about the product reaching retail shelves and emphasized this as a key step in the company's broader strategy to expand in the Southeast market [4]

Core Insights - Herbal Oasis has announced a new distribution partnership with Beverage South, enhancing its market presence in Georgia, marking the fourth state launch in two months following Alabama, Florida, and North Carolina [1][2][3] - The THC beverage market is projected to grow significantly, with Brightfield estimating a 50% increase in US sales in 2025, reaching over $571 million [4] Company Overview - Herbal Oasis is a THC-infused social seltzer that combines cannabinoids and nootropic mushrooms, promoting a wellness-oriented, alcohol-free drinking experience [5] - cbdMD, Inc. is the parent company of Herbal Oasis, recognized as a leading brand in the cannabidiol (CBD) market, offering a range of THC-free and Delta-9 compliant products [6] Distribution Partner - Beverage South is a prominent beverage distributor in Georgia and South Carolina, operating in eight key markets and representing a diverse portfolio of beverage brands [9]

Financial Data and Key Metrics Changes - Total net sales for Q2 fiscal 2025 were $4.7 million, representing an 8.6% increase year-over-year but a 7.9% decrease from Q1 [14] - Gross profit margin remained healthy at 62% for Q2 fiscal 2025, despite increased warehouse rent and one-time CAM costs [15] - SG&A expenses decreased to $3.5 million in Q2 fiscal 2025 from $4.1 million in the prior year, primarily due to reductions in payroll and professional fees [15][16] - The net loss for Q2 fiscal 2025 was $480,000, significantly improved from a loss of $3 million in the same quarter of the previous year [16] Business Line Data and Key Metrics Changes - E-commerce direct-to-consumer sales were flat year-over-year at $3.6 million, accounting for 77% of total net sales, down from 83% in the prior year [14] - Wholesale revenue increased by 22% to $1.1 million in Q2 fiscal 2025 compared to $750,000 in the same quarter of the previous year [15] Market Data and Key Metrics Changes - The THC seltzer category is experiencing significant growth, with sales projected to exceed $4 billion by 2028, driven by a shift in consumer preferences towards functional social alternatives [11] Company Strategy and Development Direction - The company aims to drive revenue growth and achieve profitability while resolving its capital structure and regaining compliance with NYSE American listing standards [5] - The successful conversion of Series A preferred stock into common stock and the reverse stock split are seen as major milestones that simplify the capital structure and eliminate legacy obligations [6][7] - The company is focused on three revenue growth priorities: enhancing the direct-to-consumer business, expanding the wholesale business, and scaling the Herbal Oasis brand [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to regulatory changes and emphasized the importance of regulatory clarity for the long-term success of the THC seltzer category [12] - The company is committed to delivering profitable growth in 2025 and is evaluating strategic opportunities for mergers and acquisitions [19][20] Other Important Information - The company reported cash and cash equivalents of approximately $1.7 million and a working capital deficit of $3.7 million as of March 31, 2025 [17] - The company invested approximately $400,000 in inventory during the quarter to bolster key SKUs and support the rollout of the Herbal Oasis brand [18] Q&A Session Summary Question: Update on Herbal Oasis brand expansion - Management indicated that discussions with distributors began in December, with shipments starting in March and April, and further expansion into Charlotte announced in May [25][30] Question: Expectations for Herbal Oasis as a growth driver - Management expects to see contributions from the Herbal Oasis brand toward the end of 2025, with potential for material impact on top-line revenue [30] Question: Impact of preferred to common stock conversion on strategy - The conversion enhances financial flexibility and positions the company to maintain its NYSE listing, allowing for strategic investments and M&A opportunities [31][33] Question: Working capital and cash burn outlook - Management remains comfortable with the liquidity outlook through the end of fiscal 2026, despite recent cash burn trends [39][40] Question: Types of strategic activities being considered - Management is looking for opportunities that provide cost synergies and customer overlap, both within and outside the cannabinoid space [42][44]

Financial Data and Key Metrics Changes - Total net sales for Q2 2025 were $4.7 million, representing an 8.6% increase year-over-year but a 7.9% decrease from Q1 2025 [13] - Gross profit margin remained healthy at 62% for Q2 2025, despite increased warehouse rent and one-time CAM costs [14] - SG&A expenses decreased to $3.5 million in Q2 2025 from $4.1 million in the prior year, primarily due to reductions in payroll and professional fees [15] - The net loss for Q2 2025 was approximately $480,000, significantly improved from a loss of $3 million in Q2 2024 [15] Business Line Data and Key Metrics Changes - E-commerce direct-to-consumer sales were flat year-over-year at $3.6 million, accounting for 77% of total net sales in Q2 2025, down from 83% in the prior year [13] - Wholesale revenue increased by 22% to $1.1 million in Q2 2025 compared to $750,000 in Q2 2024 [14] - The company is focusing on three revenue growth priorities: enhancing direct-to-consumer business, expanding wholesale, and scaling the Herbal Oasis brand [8][10] Market Data and Key Metrics Changes - The THC seltzer category is experiencing significant growth, with sales projected to exceed $4 billion by 2028 [10] - The company is tracking active legislation in over 23 states, which is crucial for the long-term success of the THC seltzer category [11] Company Strategy and Development Direction - The company aims to drive revenue growth and achieve profitability while resolving its capital structure [5] - The successful conversion of Series A preferred stock and the reverse stock split are seen as major milestones for long-term positioning [6] - The company is exploring strategic opportunities, including M&A, to expand into new categories and customer segments [19][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to regulatory changes and emphasized a commitment to profitable growth in 2025 [19][21] - The company believes it is in a stronger position than many public peers, with no debt and a low cash burn rate [21] - Management is optimistic about the potential contributions from the Herbal Oasis brand in the latter half of 2025 [30] Other Important Information - The company has approximately $1.7 million in cash and cash equivalents, with a working capital deficit of $3.7 million as of March 31, 2025 [16] - The capital restructuring has simplified the capital structure, making the stock more investable and increasing interest from potential investors [20] Q&A Session Summary Question: Expansion plans for Herbal Oasis brand - Management indicated that discussions with distributors began in December, and shipments have started, with expectations for growth contributions by the end of 2025 [25][30] Question: Impact of preferred to common equity conversion on strategy - The conversion enhances financial flexibility and positions the company to maintain its NYSE listing, allowing for potential strategic investments [31][33] Question: Working capital situation and cash burn outlook - Management remains comfortable with the liquidity outlook through the end of fiscal 2026, aiming for improved cash generation [39][40] Question: Types of strategic activities being considered - The company is looking for opportunities that provide cost synergies and customer overlap, both within and outside the cannabinoid space [42][44] Question: Financial performance metrics for Herbal Oasis - Revenue impact from Herbal Oasis was minimal in Q2 but is expected to pick up in Q3, with a focus on volume contribution [45]

cbdMD Delivers Continued Revenue Growth and Trend Towards Profitability in Second Fiscal QuarterSuccessfully Completes Capital Structure Reset with Series A Preferred ConversionMay 15, 2025 4:09 PM EDT | Source: cbdMDCharlotte, North Carolina--(Newsfile Corp. - May 15, 2025) - cbdMD, Inc. (NYSE American: YCBD), 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, and Herbal Oasis today announced our financia ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________ to _______________ Commission file number 001-38299 cbdMD, INC. (Exact Name of Registrant as Specified in its Charter) North ...