YCBD - cbdMD Reports YoY Dip In Q1 Net Sales Shrinks Operating Loss Expands Into Hemp And Mushroom Products Markets | Benzinga
cbdMD, Inc. (NYSE:YCBD) announced its first quarter financial results Tuesday for the three months ended Dec. 31, 2023.
The North Carolina-based medical cannabis company said that it has improved its operating loss from $4.1 in the first quarter of 2023 to $1.1 million for the first quarter of fiscal 2024.
Ronan Kennedy, cbdMD’s Interim CEO and CFO said the company also addressed "some larger strategic goals which culminated with the launch of our hempMD brand and functional mushroom brand, ATRx Labs."
The company recently entered into a securities purchase agreement with five institutional investors to secure financing for the national rollout of its new ATRx Labs functional mushroom products.
"This diversification allows us to access markets and channels more challenging to CBD while still attracting consumers focused on utilizing natural products to improve their daily ...