Revenue Growth Momentum
Achieved a second consecutive quarter of year-over-year revenue growth with net revenue of $12.8 million, representing 4.2% growth from Q2 of last year.
Innovative Product Launches
Successfully launched Brightside low-dose hemp-derived Delta-9 THC gummies, which sold out during Memorial Day weekend, highlighting strong consumer demand.
Cost Optimization and Margin Improvement
Implemented in-house manufacturing for Brightside gummies, expected to yield up to $3 million in annual savings, and reduced SG&A expenses by 31.7% year-over-year.
Positive Regulatory Developments
Promising regulatory developments in the hemp industry could lead to a more favorable market for compliant brands like Charlotte's Web.
Strategic Channel Expansion
Expanded into new digital and specialty channels such as Amazon, TikTok Shop, and Faire, which are delivering incremental revenue.