CV Sciences, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 02:00 pm
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CV Sciences, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 0.447 million compared to USD 1.03 million a year ago.
For the nine months, net income was USD 3.97 million compared to net loss of USD 5.9 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
CV Sciences, Inc. is a consumer wellness company specializing in nutraceuticals and plant-based foods. Its hemp extracts, and other science-backed, natural ingredients and products are sold through a range of sales channels from business-to-business to business-to-consumer. It operates a drug development program focused on developing and commercializing cannabidiol (CBD)-based therapeutics. It develops, manufactures, markets and sells herbal supplements, CBD products and plant-based food products under brands: +PlusCBD and Cultured Foods in the healthcare market sector: nutraceutical, beauty care, specialty foods, and pet products. +PlusCBD branded products are sold at select retail locations throughout the United States. Cultured Foods brand provides a variety of plant-based food products and caters to individuals seeking vegan, gluten-free, or flexitarian options for a culinary experience. It manufactures encapsulated softgels and tinctures for the supplement and nutrition industry.