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Jun 30
cbdMD Q3 2025 Earnings Report
cbdMD reported a revenue decline in Q3 2025 with increased losses due to higher operating costs and reduced gross margin.
Key Takeaways
cbdMD generated $4.6 million in revenue during Q3 2025, with a net loss of $1.23 million. The company experienced lower gross profit margins and higher operating losses, despite growth in its e-commerce segment and expansion of its Oasis beverage distribution.
Revenue was $4.6 million, down from $5.2 million in Q3 2024.
Net loss attributable to shareholders was $1.23 million or $0.21 per share.
Gross margin declined from 66% to 61% year-over-year.
Direct-to-consumer (e-commerce) accounted for 78% of total sales.
cbdMD
cbdMD
cbdMD Revenue by Segment
Revenue by Segment
E-commerce sales Revenue
CapyFin.comWholesale sales Revenue
CapyFin.com Forward Guidance
cbdMD expects growth from its Oasis beverage brand and aims to return to break-even operations as recent marketing and digital investments begin to take effect.
Positive Outlook
- Oasis brand expanded to 7 states by August 2025
- Marketing and digital overhaul initiated and showing early positive trends
- Book value increased significantly post-Series A conversion
- NYSE compliance regained through improved equity position
- Encouraging signs of e-commerce growth observed in July
Challenges Ahead
- Revenue continues multi-year decline
- Gross margin declined year-over-year
- Operating loss more than doubled from Q3 2024
- Wholesale revenue impacted by state regulatory changes
- Cash position dropped to $1.1 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income