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 December 31, 2021 or ☐ 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 Carolina 47 ...

cbdMD, Inc. (NYSE:YCBD) Q4 2021 Earnings Conference Call December 17, 2021 4:15 PM ET Company Participants Ronan Kennedy - CFO, COO, Secretary & Treasurer Marty Sumichrast - Chairman & Co-CEO Sibyl Swift - VP, Scientific and Regulatory Affairs Conference Call Participants Hunter Diamond - Diamond Equity Operator Good afternoon. Welcome to cbdMD Inc.’s September 30, 2021 Fourth Quarter and Fiscal Year 2021 Earnings Call and Update. This afternoon, the company issued a press release that provided an overview ...

Financial Performance - The company reported losses from operations of $19,615,990 and $17,581,856 for fiscal 2021 and fiscal 2020, respectively[73]. - Net sales increased by $2.6 million, or 6%, to $44.5 million in 2021 compared to $41.9 million in 2020, driven by an increase in total orders year over year[74]. Strategic Plans - The company plans to invest in research and development, sales and marketing, and expand operations both domestically and internationally[77]. - International expansion is a key long-term strategy, but it requires significant investment and carries risks such as compliance with foreign laws and increased competition[87]. Market Challenges - The ongoing COVID-19 pandemic has negatively impacted the business, but the shift to online shopping has increased direct-to-consumer sales[79]. - The company faces challenges in attracting new customers cost-effectively, with increased advertising spending on various platforms[85]. - Fluctuations in the cost and availability of raw materials, labor, and transportation could harm gross margins and the ability to meet customer demand[90]. - The potential impact of mandatory COVID-19 vaccination regulations could result in employee attrition, adversely affecting future revenues[80]. - The company’s brand reputation is crucial for success, and negative publicity could materially affect business operations and growth prospects[82]. - The company relies on third-party vendors for critical raw materials and manufacturing, with no long-term contracts in place, which may lead to supply disruptions and impact future revenues[91]. - The company faces risks related to system interruptions that could adversely impact net sales and order fulfillment[95]. - The implementation of a new ERP system in fiscal 2022 may disrupt business operations and financial reporting[98]. - Changes in federal or state laws regarding industrial hemp could materially impact the company's revenues in future periods[100]. - The company is subject to various regulatory compliance costs that could adversely affect financial results and increase litigation risks[101]. - The company has experienced past security incidents that compromised customer data, which could impact future operations[94]. - The company depends on the talents of senior management and key employees, and the loss of these individuals may disrupt business operations[96]. Financial Liabilities and Equity - As of September 30, 2021, the company has a non-cash contingent liability of $9,440,000 associated with the Earnout Shares from the acquisition of Cure Based Development LLC, which may affect future earnings[104]. - The company recorded a decrease in the contingent liability related to the Twenty Two Earnout Shares to $416,000 due to a decrease in the market price of its common stock[106]. - The potential issuance of Earnout Shares could dilute existing shareholders' ownership by approximately 10%[107]. - The company may not be able to pay dividends on the Series A Convertible Preferred Stock due to insufficient cash flow or financial condition[109]. - Holders of the Series A Convertible Preferred Stock may not qualify for the dividends-received deduction or preferential tax rates due to lack of accumulated earnings and profits[110]. - The Series A Convertible Preferred Stock has a liquidation preference of $10.00 per share, which reduces the amount available to common shareholders in the event of liquidation[117]. - The company may redeem the Series A Convertible Preferred Stock at a price of $11.00 per share upon a Change of Control, plus any accrued but unpaid dividends[115]. - The issuance of shares upon the conversion of the Series A Convertible Preferred Stock may result in dilution of existing shareholders, with an additional 8,335,000 shares potentially being issued[118]. - Executive officers and directors own approximately 31% of the outstanding common stock, which may influence shareholder approval matters[120]. - The Series A Convertible Preferred Stock represents perpetual equity interests with limited voting rights for holders[113]. - The Change of Control redemption feature may discourage third parties from making acquisition proposals[112]. - The company may not have sufficient cash flow from operations to make distributions on common and preferred stock[109]. - The company has no current or accumulated earnings and profits, impacting the qualification of distributions as dividends for tax purposes[110].

cbdMD, Inc. (NYSE:YCBD) Q3 2021 Results Earnings Conference Call August 12, 2021 4:15 PM ET Company Participants Ronan Kennedy - CFO, COO, Secretary & Treasurer Martin Sumichrast - Chairman & Co-CEO Conference Call Participants Operator Good afternoon. Welcome to cbdMD, Incorporated's June 30, 2021 Third Quarter Fiscal 2021 Earnings Call and Update. This afternoon, the company issued a press release that provided an overview of its third quarter fiscal 2021 results, which followed the filing of its quarterl ...

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 June 30, 2021 or ☐ 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 Carolina 47-341 ...

Financial Data and Key Metrics Changes - Total net sales for Q2 fiscal 2021 reached an all-time high of $11.8 million, representing a 26% year-over-year increase and a seasonal sequential dip of 4% [26] - For the six months ending March 2021, total sales were $24.1 million, a 24% increase compared to $19.5 million in the same period last fiscal year [27] - GAAP gross profit margin was 69% for Q2 fiscal 2021, compared to 71% for the same period last year [32] - GAAP loss from operations was approximately $4.1 million for Q2 fiscal 2021, an improvement from a $5.6 million loss in the prior year period [34] Business Line Data and Key Metrics Changes - E-commerce sales for Q2 fiscal 2021 were $8.4 million, a 23% year-over-year increase, representing approximately 71% of total net sales [27] - Wholesale business generated $3.4 million in net sales for Q2 fiscal 2021, compared to $2.6 million in the same quarter of fiscal 2020 [29] - Demand for Paw CBD was strong, and the initial release of cbdMD Botanicals was well received [31] Market Data and Key Metrics Changes - The company has sold products in over 31 countries and is expanding its presence internationally [16] - The U.K. and European Union markets present significant opportunities, with applications filed for regulatory compliance [16][17] Company Strategy and Development Direction - The company aims to be the leading global CBD consumer brand, focusing on new product launches, partnerships, and international market expansion [9] - A new subsidiary, cbdMD Therapeutics, was formed to explore therapeutic applications of CBD [22] - The company is committed to quality and operational excellence, pursuing additional certifications [48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about substantial net sales growth based on new product launches and market expansion [9] - The company anticipates maintaining gross profit margins between 65% and 70% [32] - Management highlighted the importance of brand equity and quality products in driving future growth [19] Other Important Information - The company had cash and cash equivalents of approximately $23.7 million as of March 31, 2021, up from $14.8 million as of September 30, 2020 [44] - The implementation of a new ERP system aims to improve operational efficiency and data visibility [47] Q&A Session Summary - No questions were raised during the Q&A session, and the conference call concluded without further inquiries [50][51]

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, 2021 or ☐ 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) Registrant's Telephone Number, ...

Financial Data and Key Metrics Changes - The company reported record net sales of $12.3 million for the quarter ended December 31, 2020, representing a year-over-year growth of 22% and a sequential increase of 5% [10][33] - Gross profit margins reached a record high of 72%, up from 64% in the prior year [10][35] - The operating loss was approximately $1.76 million, a significant improvement from a loss of $6.11 million in the prior year [36] - Non-GAAP adjusted operating loss decreased to $523,000 from $5 million in the first quarter of fiscal 2020 [37][38] - Cash and cash equivalents increased to $28.8 million, up from $14.8 million as of September 30, 2020 [41][44] Business Line Data and Key Metrics Changes - E-commerce sales hit a record high of $9.7 million, a 41% year-over-year increase, representing approximately 78% of total revenue [33] - The wholesale business generated $2.6 million in net sales, down from $3.2 million in the comparative quarter, attributed to the impact of COVID-19 on brick-and-mortar retailers [34] Market Data and Key Metrics Changes - The company ranks as one of the most visited CBD websites globally, according to SimilarWeb [8] - The customer retention rate increased over the prior quarter, driven by efforts to re-engage existing customers [20] - The average order value declined to just over $90, with a median purchase frequency of 39 days [21] Company Strategy and Development Direction - The company plans to expand into new product categories, including the launch of cbdMD Botanicals, targeting the beauty and skincare market [9][29] - The focus remains on direct-to-consumer e-commerce, which has shown significant growth [11] - The company aims to maintain gross profit margins between 65% and 70% while expanding its product portfolio and marketing efforts [35][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in gaining market share in the global CBD market and achieving positive non-GAAP adjusted operating income during the fiscal year [13] - The company is optimistic about the recovery of brick-and-mortar sales as larger retailers begin to reopen [49] - The management highlighted the importance of regulatory compliance and has engaged a former FDA official to oversee upcoming audits [14][15] Other Important Information - The company has made significant strides in international expansion, particularly in the Caribbean and Mexico [30] - cbdMD has received multiple awards for product quality and consumer satisfaction, reinforcing its brand reputation [27][28] Q&A Session Summary Question: Growth and Cash Utilization - A participant inquired about quarter-over-quarter growth and how the company plans to utilize its $28 million in cash for future growth [48] - Management responded that direct-to-consumer business remains strong, and they are focusing on smaller retailers while preparing for larger retailers' return [49][51] Question: Botanicals and New Demographics - The participant asked about the growth potential of the new Botanicals line targeting the female demographic [55] - Management indicated that marketing efforts are focused on this demographic and expressed optimism about retailer interest in the new product line [56][57]

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 December 31, 2020 or ☐ 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 Carolina 47-3414576 (S ...

Financial Data and Key Metrics Changes - Total net sales for Q4 reached an all-time high of $11.7 million, representing a 23% year-over-year increase and a 10% sequential quarterly gain [31] - For the fiscal year ended September 30, total net sales were $41.9 million, a 77% increase over fiscal 2019 [31] - Direct-to-consumer sales hit a record high of $8.6 million in Q4, a 58% year-over-year increase, totaling $30.5 million for fiscal 2020, which is a 106% increase over fiscal 2019 [32][33] - Gross profit margin for Q4 was 54.4%, down from 56% in the prior year, while fiscal 2020 gross margin improved to 63% from 61.4% in fiscal 2019 [35] Business Line Data and Key Metrics Changes - The wholesale business generated $11.3 million in net sales for fiscal 2020, a 29% year-over-year increase, with Q4 showing a total of $3.1 million in net sales, representing a 29% sequential growth [34] - Paw CBD achieved net sales of approximately $4.5 million for fiscal 2020, with a focus on cross-selling and customer retention strategies [24][25] Market Data and Key Metrics Changes - The global CBD market is expected to grow from over $2 billion to over $10 billion by 2025, indicating significant growth potential [14] - The company has maintained a strong balance sheet with approximately $30 million in cash and virtually no debt, positioning itself favorably in the CBD industry [12] Company Strategy and Development Direction - The company plans to expand into new product categories to drive sales and diversify customer demographics [8] - Strategic partnerships with high-profile brands such as Joe Rogan Experience Podcast and Barstool Sports are expected to enhance brand recognition and customer acquisition [10][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive adjusted operating income in early fiscal 2021, despite potential delays due to marketing opportunities [13] - The regulatory environment for CBD remains uncertain, with no expected FDA guidance in the near future, prompting the company to focus on maintaining high manufacturing standards [16] Other Important Information - The company has made significant operational improvements, including moving to a larger fulfillment space and expanding lab capabilities [45] - The company ended the fiscal year with $14.8 million in cash and cash equivalents, providing ample capital for future strategies [37] Q&A Session Summary Question: What new products can be expected in the coming quarters? - The company plans to roll out new product lines and expand partnerships with larger brands to enhance brand value and recognition [49][50] Question: Is there exclusivity in the Joe Rogan and Barstool Sports partnerships? - The Joe Rogan partnership is exclusive for 2021, while the Barstool partnership is not exclusive but remains strong [60] Question: How does the company view multi-level marketing competitors? - The company does not see multi-level marketing as direct competition due to differences in branding focus and distribution channels [61][62] Question: What growth is expected for the Paw brand in 2021? - While no specific guidance was provided, significant growth is anticipated in the Paw brand due to limited competition in the CBD pet market [65]