CV Sciences, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 09:00 am EDT
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CV Sciences, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net loss was USD 1.29 million compared to USD 2.65 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.03 a year ago.
For the six months, net income was USD 4.42 million compared to net loss of USD 4.87 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. The Company's hemp extracts and other science-backed, natural ingredients and products are sold through a range of sales channels from business-to-business (B2B) to business-to-consumer (B2C). It also 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, such as +PlusCBD and Cultured Foods in the healthcare market sector, including nutraceutical, beauty care, specialty foods, and pet products. Its +PlusCBD branded products are sold at select retail locations throughout the United States. The Company's Cultured Foods brand provides a variety of 100% plant-based food products and caters to individuals seeking vegan, gluten-free, or flexitarian options for a culinary experience.