Last10K.com

Cv Sciences, Inc. (CVSI) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

CVSI Quarterly Reports

Cv Sciences, Inc.

CIK: 1510964 Ticker: CVSI


Exhibit 99.1


CV Sciences, Inc. Reports First Quarter 2022 Financial Results

San Diego, CA - May 16, 2022 (GLOBE NEWSWIRE) - CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of hemp cannabidiol (CBD) products, today announced its financial results for the quarter ended March 31, 2022.

First Quarter 2022 and Recent Financial and Operating Highlights
Revenue of $4.4 million for first quarter of 2022, compared to $4.8 million for the first quarter of 2021;
Gross margin of 26.0% for first quarter of 2022, compared to 32.4% for the fourth quarter of 2021;
Total cash balance of $2.4 million at quarter end, compared to $1.4 million at year end;
Launched four unique Over-the-Counter (OTC) pain relief topical products formulated to pinpoint sources of minor pain and aches using active ingredients including camphor and menthol along with premium hemp-derived CBD;
Launched PlusCBDTM Relief softgels to our wellness line of CBD products joining our successful PlusCBDTM Sleep and Calm gummies;
Continued to evaluate strategic review, including consideration of inbound and outbound merger, sale, acquisition or other options for the Company as a whole or for any business segments;
Continued to implement strategic cost savings initiatives;
Completed new lease agreement of approximately 6,000 square feet for the Company's main facility in San Diego; and
Claimed refundable employee retention credit (ERC) under the CARES Act of $2.0 million.

“First quarter results met our expectations and we are encouraged by improvements in the retail channel including an increase in units shipped on a year over year basis, and a very strong consumer response to several new product launches during Q1” said Joseph Dowling, Chief Executive Officer. “Our new OTC products, along with our Reserve Collection and our Wellness Line of products are evidence of our strong pipeline, and demonstrate our ability to develop innovative products that address the need states of our customers. Our flagship brand PlusCBDTM continues to gain market share in the natural product channel, and, with our portfolio of high-quality, proven products, and favorable regulatory momentum, we believe the Company is positioned for growth in 2022.”



The following information was filed by Cv Sciences, Inc. (CVSI) on Monday, May 16, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Cv Sciences, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Cv Sciences, Inc..

Continue

Assess how Cv Sciences, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Cv Sciences, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Condensed Balance Sheets (Unaudited)
Condensed Balance Sheets (Unaudited) (Parenthetical)
Condensed Statements Of Cash Flows (Unaudited)
Condensed Statements Of Operations (Unaudited)
Condensed Statements Of Stockholders??? Equity (Unaudited)
Balance Sheet Details
Balance Sheet Details (Tables)
Balance Sheet Details - Accrued Expenses (Details)
Balance Sheet Details - Intangibles, Net (Details)
Balance Sheet Details - Inventory (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Convertible Notes
Convertible Notes (Tables)
Convertible Notes - Narrative (Details)
Convertible Notes - Schedule Of Convertible Notes (Details)
Debt
Debt - Narrative (Details)
Income Taxes
Income Taxes (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Antidilutive Shares (Details)
Organization And Business
Organization And Business (Policies)
Organization And Business (Tables)
Organization And Business - Cash, Cash Equivalents And Restricted Cash (Details)
Organization And Business - Narrative (Details)
Organization And Business - Revenue (Details)
Related Parties
Related Parties (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Based Compensation (Details)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Option Activity (Details)
Stockholders Equity
Stockholders Equity (Tables)
Stockholders Equity - Narrative (Details)
Stockholders Equity - Warrants Outstanding (Details)
Subsequent Event
Subsequent Event (Details)

Material Contracts, Statements, Certifications & more

Cv Sciences, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CVSI
CIK: 1510964
Form Type: 10-Q Quarterly Report
Accession Number: 0001510964-22-000043
Submitted to the SEC: Mon May 16 2022 4:22:36 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Pharmaceutical Preparations

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/cvsi/0001510964-22-000043.htm