Hemp-Focused Wellness Co. Moves Closer To Profitability, Reports Flat 2023 Revenue, Increase In Gross Profit
Hemp-focused CV Sciences, Inc. (OTCQB:CVSI) announced its financial results on Thursday for the year ended Dec. 31, 2023. The San Diego-based company reported a gross margin of 44.3% for fiscal year 2023, representing an improvement from 34.2% for 2022. For the fourth quarter, its gross margin was 45.8%, representing a sequential improvement from 45.1% in the third quarter. “Our 2023 progress demonstrates our continuous commitment to innovation and cost-efficient execution as we move closer to profitability and positive cash flow," Joseph Dowling, CEO of CV Sciences said. "As the CBD category ...