Charlotte's Web Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 07:37 am
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Charlotte's Web Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 16.01 million compared to USD 18.88 million a year ago. Net income was USD 2.84 million compared to net loss of USD 7.87 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to diluted loss per share from continuing operations of USD 0.05 a year ago.
For the six months, sales was USD 33.02 million compared to USD 38.23 million a year ago. Net loss was USD 0.067 million compared to USD 16.5 million a year ago.
Charlotte's Web Holdings, Inc. (Charlotteâs) is engaged in providing hemp extract wellness products under a family of brands which includes Charlotteâs Web, CBD Medic, CBD Clinic, and Harmony Hemp. Charlotteâs Web branded products start with its hemp genetics that are 100% North American farm grown and manufactured into hemp extracts containing naturally occurring phytocannabinoids, including cannabidiol (CBD), cannabichromene (CBC), cannabigerol (CBG), cannabinol (CBN), terpenes, flavonoids and other beneficial hemp compounds. Charlotteâs Web product categories include full spectrum hemp extract oil tinctures (liquid products), gummies (sleep, calm, immunity, exercise recovery, daily wellness, THC-free), capsules, topical creams and lotions, as well as CBD pet products for dogs. Charlotteâs Web products are distributed to retail outlets and health care practitioners, as well as online through the Companyâs Website at www.Charlottesweb.com.