cbdMD Inc (AMEX:YCBD)

$ 0.49 -0.002 (-0.41%) Market Cap: 1.85 Mil Enterprise Value: 3.57 Mil PE Ratio: 0 PB Ratio: 0.61 GF Score: 54/100

Q3 2024 cbdMD Inc Earnings Call Transcript

Aug 14, 2024 / 08:20PM GMT

Release Date Price: $0.485 (+2.06%)

Transcript 10-Q

Key Points

Positve

Gross margins increased to 65% from 63% in the prior year comparative quarter.
SG&A expenses decreased significantly from $5.7 million to $3.8 million.
Sequential revenue growth improved by 18%.
The company generated approximately $200,000 of cash during the third quarter.
The wholesale business saw a 10% increase in net sales compared to the prior year.

Negative

Total net sales for the third quarter decreased by 15% year-over-year.
E-commerce direct-to-consumer sales dropped by 25% year-over-year.
The company has negative working capital of approximately $567,000.
Accrued dividends payable significantly impacted working capital, totaling $3.7 million.
The company received notice from the NYSE American for falling below the minimum book value listing requirement.

Operator

Good afternoon. Welcome to cbdMD's, Inc. June 30, 2024 tird fiscal 2024 quarter and earnings call and Update. This afternoon, the company issued a press release that provided an overview of its third quarter results, which followed the filing of its quarterly report on Form 10-Q.

Today's conference call is being recorded and will be available online along with our earnings press release covering our financial results and non-GAAP presentation at cbdmd.com in accordance with the cbdMD retention policies. (Operator Instructions).

At this time, I would now like to turn the conference over to Brad Whitford, the company's Chief Accounting Officer. Brad, please go ahead.

Brad Whitford

cbdMD Inc - Chief Accounting Officer

Thank you, Brenda and thank you all for joining cbdMD's June 30th, 2024 third quarter of fiscal 2024 earnings call and update. On the call today, we also have Ronan Kennedy, our CEO and Chief Financial Officer.

We'd like to remind everyone that various remarks about future expectations, plans and prospects constitute

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