Saturday, 18 May 2024


CV Sciences posts a revenue of $4 million By

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CV Sciences (OTC:), a leader in the natural product retail channel, has reported a revenue of $4 million for the first quarter of 2024, marking an improvement from the previous quarter. The company also noted a gross margin of 46.3%, the highest in the last 12 quarters, and the completion of Elevated Softgels acquisition. With a focus on revenue growth and cost efficiency, CV Sciences is preparing to launch new products, including Cultured Foods in the US, and is looking to expand in the EU and other non-US markets. Despite a 3% increase in B2C revenue and a higher gross margin, the company experienced an operating loss of $0.6 million. CV Sciences, which trades under the ticker CVSI, remains debt-free and optimistic about future growth in the health and wellness industry.

Key Takeaways

  • Q1 2024 revenue reached $4 million, with a gross margin of 46.3%.
  • CV Sciences maintained its top position in the natural product retail channel and increased market share.
  • The company completed the acquisition of Elevated Softgels and has integrated Cultured Foods into its financials.
  • New product launches are planned, including a wellness line and Cultured Foods products in the US market.
  • CV Sciences reported a 3% increase in B2C revenue and aims for profitability and positive cash flow in the second half of 2024.
  • Operating loss for Q1 was $0.6 million, with SG&A expenses rising to $2.4 million due to legal and professional fees.
  • The company ended the quarter with $0.7 million in cash and $1.4 million in working capital.

Company Outlook

  • CV Sciences is focused on increasing revenue and cost efficiency through mergers and acquisitions (M&A).
  • Plans to launch several new products throughout the year to strengthen its wellness line.
  • Aiming to achieve profitability and positive cash flow in the future.
  • Looking to expand sales in the EU and non-US markets by leveraging Cultured Foods’ European infrastructure.
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Bearish Highlights

  • The company reported an operating loss of $0.6 million for the first quarter.
  • SG&A expenses increased by 13% primarily due to higher legal and professional fees.

Bullish Highlights

  • The company continues to be the number one brand in the natural product retail channel.
  • Improved revenue and highest gross margin in the last 12 quarters.
  • Positive outlook on long-term opportunities in the health and wellness industry.


  • Despite the increase in B2C revenue, the company faced an…

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