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CbdMD's Financial Results: Cost-Cutting Measures For Positive Cash Flow Amid Increasing Losses

CbdMD's Financial Results: Cost-Cutting Measures For Positive Cash Flow Amid Increasing Losses

cbdMD 的财务业绩:在亏损增加的情况下采取削减成本措施以实现正现金流
Benzinga ·  05/15 18:07

cbdMD, Inc. (NYSE:YCBD) announced its financial results for the second quarter of fiscal 2024, ending March 31, 2024. Despite an increase in operational losses from $1.4 million in Q2 fiscal 2023 to $1.5 million in Q2 fiscal 2024, management remains optimistic.

cbdMD, Inc.(纽约证券交易所代码:YCBD)公布了截至2024年3月31日的2024财年第二季度的财务业绩。尽管运营亏损从2023财年第二季度的140万美元增加到2024财年第二季度的150万美元,但管理层仍然乐观。

"Transformation is not always linear, and while our second fiscal quarter 2024 results fell short of our ambitions, we believe the operational changes we've enacted are set to propel us forward," Ronan Kennedy, CEO & CFO of cbdMD, stated.

cbdMD首席执行官兼首席财务官罗南·肯尼迪表示:“转型并不总是线性的,尽管我们在2024年第二财季的业绩没有达到我们的目标,但我们认为我们实施的运营变革将推动我们向前发展。”

Cost-Cutting Measures And Financial Projections

削减成本的措施和财务预测

cbdMD reported implementing cost-cutting measures projected to save approximately $2.4 million annually by August, including staff reductions, renegotiated vendor contracts and consolidation operations to save $0.6 million per quarter.

cbdMD报告称,实施的削减成本措施预计到8月份每年将节省约240万美元,包括裁员、重新谈判供应商合同和整合业务,每季度节省60万美元。

These efforts aim to position the company for positive cash flow in upcoming quarters.

这些努力旨在使公司在未来几个季度实现正现金流。

"Our shareholders have spoken: profitability is imperative. Their input has further fueled our commitment to making tough yet crucial decisions, setting us up for success by the fiscal year's end," Kennedy added.

“我们的股东已经说过:盈利势在必行。他们的意见进一步推动了我们对做出艰难而关键的决定的承诺,为我们在财政年度末取得成功做好了准备,” 肯尼迪补充说。

Key Financial Metrics

关键财务指标

  • Net Sales: $4.4 million for Q2 fiscal 2024, down 30% from $6.2 million in Q2 fiscal 2023. For the six months ended March 2024, net sales were $9.8 million, down from $12.3 million in the prior year period.
  • Net Loss: $4.0 million, or $1.35 per share, in Q2 fiscal 2024, compared to $2.3 million, or $1.74 per share, in Q2 fiscal 2023, largely due to a $1.4 million non-cash contingency liability increase.
  • Gross Profit: 59% in Q2 fiscal 2024, compared to 64% in Q2 fiscal 2023, impacted by a $0.44 million credit issued to a wholesale customer.
  • Wholesale Net Sales: $0.75 million in Q2 fiscal 2024, down 44% from $1.3 million in Q2 fiscal 2023.
  • Working Capital: $3.2 million (excluding accrued preferred dividend) and $2.1 million cash on hand at March 31, 2024, compared to $4.1 million working capital and $1.8 million cash on hand at September 30, 2023.
  • 净销售额:2024财年第二季度的净销售额为440万美元,较2023财年第二季度的620万美元下降了30%。在截至2024年3月的六个月中,净销售额为980万美元,低于去年同期的1,230万美元。
  • 净亏损:2024财年第二季度为400万美元,合每股亏损1.35美元,而2023财年第二季度为230万美元,合每股亏损1.74美元,这主要是由于非现金应急负债增加了140万美元。
  • 毛利:受向批发客户发放的44万美元信贷的影响,2024财年第二季度为59%,而2023财年第二季度为64%。
  • 批发净销售额:2024财年第二季度为75万美元,较2023财年第二季度的130万美元下降44%。
  • 营运资金:截至2024年3月31日,320万美元(不包括应计优先股息)和210万澳元的手头现金,而截至2023年9月30日,营运资金为410万美元,手头现金为180万美元。

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Outlook And Future Prospects

展望和未来展望

cbdMD is optimistic about revenue growth in the third fiscal quarter of 2024, expecting it to surpass the March 2024 quarter. The company's ATRx Platinum line's national rollout at GNC is seen as a key growth driver, expanding its market presence into functional mushrooms.

cbdMD对2024年第三财季的收入增长持乐观态度,预计收入将超过2024年3月的季度。该公司的ATrX Platinum系列在GNC的全国推广被视为关键的增长动力,将其市场份额扩展到功能性蘑菇。

Photo: AI-Generated Image.

照片:人工智能生成的图像。

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