cbdMD, Inc. announced its financial results for the first quarter of fiscal year ended December 31, 2024, on February 13, 2025. The company reported a historic quarter, achieving sequential revenue growth and positive net income.
For the first time as a public company, cbdMD generated positive Net Income of $15,000, representing an approximate $1 million improvement from the prior year. The company also achieved its first-ever quarter of positive non-GAAP Adjusted EBITDA.
Ronan Kennedy, CEO and CFO, highlighted that these results indicate the earnings potential under the company's new cost structure. Additionally, cbdMD filed a preliminary proxy statement for its April 10, 2025, annual meeting, including a proposal to convert Series A Preferred Stock and all accrued dividends into common stock.
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