cbdMD Reduces Operating Loss, Reports Positive Net Income For Q3 And 15% YoY Drop In Net Sales
cbdMD, Inc. (NYSE:YCBD), an operator of the leading CBD brands cbdMD and Paw CBD, along with its new functional mushroom brand ATRx Labs announced its financial results on Wednesday for the third quarter of fiscal 2024 ending June 30, 2024.
Year-over-year, operational losses improved markedly, shrinking from $1.8 million in the third quarter of fiscal 2023 to $0.38 million in the third quarter of fiscal 2024, the company highlighted in the press release.
Ronan Kennedy, the company’s CEO and CFO praised the financial results.
“I am incredibly proud of what our team has accomplished this quarter,” Kennedy said. “Profitability has been our top priority, and we’ve made meaningful progress in the fiscal third quarter. We committed to optimizing our cost structure, …