CV Sciences ( (CVSI) ) has released its Q4 earnings. Here is a breakdown of the information CV Sciences presented to its investors.
CV Sciences, Inc. is a consumer wellness company that specializes in hemp extracts and other science-backed natural ingredients, operating primarily in the nutraceuticals and plant-based food sectors. The company has a strong presence in the natural products market with its +PlusCBD™ brand.
In its fiscal year-end 2024 financial results, CV Sciences reported a slight decrease in annual revenue to $15.7 million, down from $16.0 million in 2023. Despite this, the company achieved a notable improvement in gross margin, rising to 45.6% from 44.3% the previous year. The company also reduced its operating expenses by 5.4% and improved its adjusted EBITDA loss significantly.
Key highlights from the year include the expansion of the +PlusCBD™ Pet product line, a strategic partnership with Chewy, and the acquisition of Elevated Softgels. Additionally, CV Sciences launched the +PlusHLTH™ line of cannabinoid-free supplements and introduced the Lunar Fox plant-based product line, marking a significant step in its transition to a global health and wellness company.
Looking ahead, CV Sciences’ management remains optimistic about revenue growth in 2025, driven by recent acquisitions and product innovations. The company aims to continue improving gross margins and is committed to pursuing further M&A opportunities to enhance profitability and shareholder value.