CV Sciences, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting sales of $3.9 million. This represents a 5% decrease compared to the third quarter of 2023, primarily due to lower B2B sales impacted by state regulations for CBD.
The company generated an operating loss of $0.3 million in the third quarter of 2024, an improvement from an operating loss of $0.4 million in the third quarter of 2023. This improvement is attributed to higher gross margins and reduced operating expenses.
CV Sciences reported a negative Adjusted EBITDA of $75,000 for the third quarter of 2024, a significant improvement from a negative Adjusted EBITDA of $0.4 million in the third quarter of 2023. This indicates progress in cost-efficient execution as the company moves closer to profitability and positive cash flow.
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