CV Sciences Reports Q4 Financial Results Amid Growth Strategies

CV Sciences Reports Q4 Financial Results Amid Growth Strategies

CV Sciences ( ‘CVSI’ ) has revealed its Q4 earnings, providing valuable insights into the company’s current performance and future direction. The company specializes in hemp extracts and natural ingredients, primarily operating in the nutraceuticals and plant-based food sectors with its renowned +PlusCBD™ brand.

The fiscal year-end 2024 financial results show that annual revenue declined to $15.7 million, down from $16.0 million in the previous year. However, the company marked an improvement in its gross margin, which rose to 45.6%, compared to 44.3% in 2023. Operating expenses were also successfully reduced by 5.4%, and the adjusted EBITDA loss exhibited significant enhancement, indicating a positive shift towards profitability.

Key Highlights and Future Prospects

The year brought forth several strategic advancements for CV Sciences, including the expansion of its +PlusCBD™ Pet product line, a pivotal partnership with Chewy, and the acquisition of Elevated Softgels. Furthermore, new product lines were launched, such as the +PlusHLTH™ range of cannabinoid-free supplements, and the introduction of Lunar Fox, a plant-based product line.

Management has expressed optimism regarding revenue growth in 2025, fueled by recent acquisitions and innovations in product offerings. The organization aims to improve gross margins consistently and remains dedicated to exploring merger and acquisition opportunities to enhance profitability and shareholder value.