cbdMD reported that net sales for the fourth quarter of fiscal 2025 rose 3‑5% year‑over‑year to an estimated $4.7‑$4.9 million, compared with $4.6 million in the same quarter of fiscal 2024. The company’s net loss narrowed to $1.9‑$2.1 million from a $3.7 million loss in fiscal 2024, a swing of roughly $1.8 million toward profitability driven by disciplined cost management and a lean operating model.
Full‑year net sales for fiscal 2025 are expected to be $19.1‑$19.3 million, essentially flat against the $19.5 million reported in fiscal 2024. The improvement in the net loss margin reflects a combination of reduced selling, general and administrative expenses and a more efficient allocation of resources, allowing the company to offset the modest decline in overall sales volume. The company’s focus on cost control has begun to pay off, as management noted that many public peers reported 8‑10% declines in the same period.
In the third quarter of fiscal 2025, net sales were $4.6 million and the company posted a net loss of about $1.2 million. The Q4 growth therefore represents a sequential improvement, while the flat full‑year sales underscore the broader softness in the CBD market. Management highlighted that the company’s strategic emphasis on operational efficiency has helped it maintain revenue momentum even as competitors see double‑digit declines.
CEO and CFO Ronan Kennedy said the team was “proud of the progress made in cost discipline and the momentum being built.” He added that the company’s lean operating model and focus on high‑return verticals—such as pet products and functional mushroom lines—position it to sustain profitability in a challenging market environment.
cbdMD’s product portfolio includes CBD tinctures, gummies, topicals, pet products under the Paw CBD brand, functional mushroom products under the ATRx brand, and THC seltzers under the Herbal Oasis brand. While core CBD categories remained stable, growth in the pet and mushroom segments helped offset softness in other areas, contributing to the modest Q4 revenue increase.
The company will file its audited financial statements in the annual report on or before December 29, 2025. The filing will provide a complete view of revenue, earnings, and guidance, and will confirm the company’s compliance with NYSE American listing standards and its strengthened cash position.
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