CV Sciences ( (CVSI) ) has issued an announcement.
CV Sciences reported its financial results for the fiscal year ending December 31, 2024, with revenues of $15.7 million, a slight decline from the previous year. The company achieved a gross margin improvement to 45.6% and reduced operating expenses by 5.4%. Despite an operating loss of $2.2 million, the adjusted EBITDA loss improved significantly. The company expanded its product offerings with new launches and strategic partnerships, including the acquisition of Elevated Softgels and the launch of the Lunar Fox plant-based product line. CV Sciences aims to continue its growth trajectory through innovation and strategic mergers and acquisitions.
More about CV Sciences
CV Sciences, Inc. is a consumer wellness company specializing in nutraceuticals and plant-based foods. The company offers hemp extracts and other science-backed natural ingredients, with products sold through B2B and B2C channels. Their +PlusCBD brand is a leading hemp-extract brand in the natural products market, and they also produce cannabinoid-free supplements under the +PlusHLTH brand. Additionally, CV Sciences owns Elevated Softgels, a manufacturer of encapsulated softgels and tinctures, and offers plant-based food products under the Cultured Foods brand.
YTD Price Performance: 3.33%
Average Trading Volume: 217,432
Technical Sentiment Signal: Buy
Current Market Cap: $5.71M
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