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Tag: YCBD Stock

  • Fiscal 2021 Earnings Report: cbdMD Inc. (YCBD) Nose Dives Pre-market

    cbdMD Inc. (YCBD) stock plunged by 9.02% in the pre-market, when the company posted its fiscal 2021 earnings, on December 17.

    During regular trading, the stock was up by 17.70% at the closing price of $1.33, with 1.32 million shares exchanging. Following the news, the stock went down to $1.21 in the premarket.

    Currently, cbdMD Inc. (YCBD) has a market capitalization of $76.84 million. Moreover, the company has 57.78 million shares outstanding in the market.

    What Happened?

    The U.S. CBD market suffered from a great challenging year in 2021, according to the Brightfield Group. It is expected that the year-over-year growth rate in the market will be nearly flat at 2.5%. Even though the whole market suffered, YCBD, according to its Chairman and co-CEO, Martin A. Sumicharst, showed great results.

    While the company declared the results very promising as compared to the overall market, it failed to impress the investors.

    YCBD’s Financial Results

    On December 17, the company announced its financial results its fourth quarter and full-year fiscal 2021. The fiscal year 2021 ended on September 30, 2021. In fiscal 2021, YCBD’s net sales were $44.5 million against $41.8 million in the previous year. This shows an increase of 6% year over year.

    Moreover, the gross profit in fiscal 2021, was 67%, against 63% in fiscal 2020. Subsequently, the non-GAAP adjusted gross margin was $19.6% in fiscal 2021, against 67.7% last year.

    Furthermore, fiscal 2021, saw a net loss attributable to common shareholders of $25.9 million. This compares to a net income of $12.2 million in fiscal 2020. Consequently, the net loss was $0.41 per share in fiscal 2021, against net income of $0.28 per share in fiscal 2020.

    In addition, fiscal 2021, saw a non-GAAP adjusted loss from operations of $13.6 million, against $11.5 million in the previous year.

    YCBD ended fiscal 2021, with working capital of $29.6 million approx. and cash on hand of $26.4 million approx. This compares to working capital of $16.0 million approx. and cash on hand of $14.8 million approx. at the end of fiscal 2020.

    YCBD’s Recent Developments

    On December 03, the company announced the commencing of a clinical study in collaboration with the University of South Carolina. According to this, the collaborators will study the effects of YCBD’s board spectrum cannabinoid on sleep, mood, and pain. Moreover, this study will further support YCBD’s products’ efficacy.

  • Here’s the Reason Why cbdMD, Inc. (YCBD) Stock is Declining After a Robust Monday

    cbdMD, Inc. (YCBD), a company that produces and distributes various cannabidiol (CBD) products, has declined 4.64% in aftermarket trading session. Consequently, YCBD stock is trading at $1.85 at the time of the writing. The decline could be due to the profit-taking factor after YCBD stock surged 30.20% during Monday’s regular trading hours and closed the day at $1.94. The surge was attributable to the announcement of the partnership with Amazon.

    Why YCBD Soared?

    On Monday, YCBD announced its multi-year partnership with Amify. Amify is a platform partner of Amazon.com. The partnership was meant to prepare for the inclusion of CBD products on the Amazon marketplace. Amify would serve as the exclusive CBD partner to the company. It would launch the company’s products on the Amazon platform as soon as the category is accepted and would become available. The partnership would include all the leading and award-winning cbdMD branded products.

    Q3 2021 Operational Results

    On 12th August, YCBD released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th June. The company generated total net sales of $10.56 million during the quarter against $10.63 million for the same quarter of 2020. The operating expenses for the period were $13.86 million against $8.22 million for the same period of 2020. The company generated a net income of $1.53 million (or $0.02 per basic and diluted share) during the quarter against the net loss of $8.95 million (or $0.18 per basic share) for the same quarter of 2020.

    Business Highlights

    Alongside the operational results, YCBD also released the business highlights of the period. The company expanded on its award-winning sleep products during the quarter. It launched cbdMD Therapeutics subsidiary to advance cannabinoid science and clinical studies. The renewal of NSF certification was done during the period. The company signed a sponsorship agreement with Master Champion and 9 Time PGA Tour Winner, Patrick Reed. It extended its partnership with Bellator MMA. The company announced the addition of the new role of Chief Revenue Officer.

    Future Outlook for YCBD

    During the last three months, YCBD stock has declined more than 10%. However, the estimates suggest that the company is in a good position to attract potential investors toward. Hence, upcoming times seem to be scintillating ones for YCBD stock.