CWBHF - Charlotte's Web stock tumbles on weak Q4 results
Charlotte's Web (OTCQX:CWBHF) stock tumbled 12% after the firm posted wider loss and lower revenue in Q4. Net loss was $118.2M for Q4 vs. $12.2M in Q4 2020, due to lower gross profit and lower revenue. Q4 revenue fell 7.8% Y/Y to $24.8M due to sales and channel mixes and competitive DTC pricing. DTC revenue in Q4 fell 12.1% Y/Y due to product mix and lower-than-expected online sales during the Dec. holiday season. DTC accounted for 62% of total revenue in Q4. Q4 B2B revenue was flat Y/Y at $9.5M on higher unit sales volume of new pet, topicals, and gummy products, which carry lower avg. unit pricing. B2B contributed 38% of revenue in Q4. 2021 net revenue grew 1% to $96.1M. Growth from higher unit sales volumes was offset by an industry-wide consumer shift to cheaper CBD products; primarily gummies and topical products. CWBHF's cash and cash equivalents at Dec.
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Charlotte's Web stock tumbles on weak Q4 results