The market for cannabidiol (CBD) products remains vibrant, at least in line with the latest revenue figures published by a leading expert in such products, Charlotte net catches (OTC: CWBHF).
On Thursday, the company released its fourth quarter of fiscal 2020 results, which showed total revenue of $ 26.9 million for both quarter-over-quarter (7%) and year-over-year (18%) growth. ). On the bottom line, net loss for the period was $ 14.7 million ($ 0.11 per share), deeper than $ 6.6 million of Q3 but narrower than the $ 18.8 million in the fourth year ago.
In terms of modified EBITDA (pre-interest earnings, taxes, depreciation, and depreciation), which happens to be the cannabis industry’s preferred profit criterion, Charlotte Nets was in a negative range, at $ 2.1 million . That compares favorably with the Q3 deficit of $ 6.7 million, and $ 10.1 million at Q4 2019.
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The company has impacted much of the Q4 mainline development with what it means “competitive price realignment” across its product portfolio. He said this has helped increase unit sales and market share.
The direct-to-consumer (DTC) sales effort was also paying off, thanks to marketing buttons and an active social media presence. All said, DTC sales improved by 21% and accounted for nearly 65% of the company’s total revenue. Business-to-business (B2B) sales saw smaller growth but were still in the double digits with an increase of more than 12%.
While the upward trend of some of those numbers was encouraging, Charlotte’s Web is not getting as hot as some of her peers who are focusing entirely on tetrahydrocannabinol-rich products. (THC), the substance that gets high consumer.
On Friday, Charlotte Nets went down behind the broader stock market, closing the day 0.3% higher against the S&P 5001.7% gain.
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