Charlotte’s Web Holdings (OTC) ( (CWBHF) ) has released its Q3 earnings. Here is a breakdown of the information Charlotte’s Web Holdings (OTC) presented to its investors.
Charlotte’s Web Holdings, Inc., a Certified B Corp based in Louisville, Colorado, operates in the cannabis industry, focusing on hemp-derived products such as CBD oils, gummies, and topicals, primarily within the United States. The company recently reported its earnings for the quarter ending September 30, 2024, showing a decline in revenue and an increased net loss compared to the previous year. Key financial highlights include a revenue of $12.6 million, down from $14.3 million in the same quarter last year, and a net loss of $5.8 million. The company’s operating loss was reduced to $6 million from $11.9 million, driven by decreased selling, general, and administrative expenses. Despite the challenging financial results, Charlotte’s Web Holdings continues to focus on strategic partnerships and research and development efforts, including its collaboration with DeFloria LLC and investments in clinical trials through CW Labs. Looking forward, the company remains committed to its long-term growth strategy, leveraging its proprietary hemp strains and expanding its product offerings to capture a larger share of the hemp-derived wellness market.
