CV Sciences, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 09:00 am EST
Share
CV Sciences, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 1.03 million compared to USD 0.04 million a year ago. Basic loss per share from continuing operations was USD 0.01. Diluted loss per share from continuing operations was USD 0.01.
For the nine months, net loss was USD 5.9 million compared to USD 6.7 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to USD 0.06 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.