cbdMD posts first-quarter profit despite lower sales | Where to buy Skittles Moonrock online

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Charlotte-based cbdMD Inc. (NYSE: YCBD) this week reported net income of $15,095 for its first quarter of fiscal 2025, which ended Dec. 31, up a significant year-over-year improvement from its loss of almost $1 million for the first quarter in fiscal 2024 and its $1.2 million loss in the fourth quarter.

The boost in the bottom line came despite a 19% year-over-year decrease in total sales, to $5.1 million from $5.3 million. Of the quarter’s total sales, $3.9 million were from e-commerce direct-to-consumer sales – down 11% year-over-year – while the other $1.1 million was from wholesale sales – up 22% year-over-year.

The company also shrank its loss from operations, reducing it to $80,000 in the recent quarter as opposed to a $1.1 million operations loss a year prior.

“This quarter’s results are an indication of the earnings potential under our new cost structure,” Ronan Kennedy, CEO of the company, said in a press release.

During the quarter, cbdMD also launched Herbal Oasis, a hemp-based beverage, which it said gives it a footprint in the “fastest growing segment in the industry.”

This week, cbdMD also filed a proxy statement for its upcoming April shareholder meeting and announced that it plans to convert all of its Series A Preferred and all accrued dividends into common stock.

At the end of December, cbdMD had $11.5 million in total assets, including $1.9 million in cash, against $9.7 million in total liabilities and a working capital deficit of $2.8 million.