cbdMD, Inc. YCBD
cbdMD, Inc. is a consumer wellness company focused on the development, manufacturing, marketing, and sale of supplement brands powered by natural compounds. The majority of our products are anchored by hemp-derived cannabinoids, including broad-spectrum and full-spectrum CBD formulations, hemp-derived Delta-9 THC products (where permitted by law), and a range of functional products designed to address key wellness needs such as sleep, recovery, mood, discomfort, mobility, cognitive function, and stress management. Our approach centers on combining scientific rigor with high manufacturing standards to produce consistent, safe, and reliable products that meet both consumer expectations and evolving regulatory requirements.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $19.2M | $19.9M | $25.1M | $37.1M | $47.3M | $41.9M | $23.7M | $459.1K | $4.5M |
| Cost of revenue | — | $7.2M | $7.5M | $9.2M | $13.1M | $14.5M | $15.5M | $9.1M | $104.0K | $1.4M |
| Gross profit | — | $12.0M | $12.0M | $15.0M | $22.3M | $30.0M | $26.4M | $14.5M | $355.1K | $3.1M |
| Total operating expenses | — | — | — | — | — | $49.6M | $44.0M | $29.3M | $2.2M | $3.4M |
| Operating income | — | -$2.2M | -$3.3M | -$22.5M | -$78.3M | -$19.6M | -$17.6M | -$14.8M | -$1.8M | -$1.4M |
| Interest expense | — | $34.3K | $29.5K | $63.7K | $16.2K | $28.9K | $39.9K | $75.1K | $0 | $500.6K |
| Pre-tax income | — | -$2.0M | -$3.7M | -$22.9M | -$70.1M | -$24.3M | $11.3M | -$47.8M | -$1.8M | -$1.4M |
| Income tax | — | $0 | $0 | $0 | $0 | $895.0K | $1.3M | $2.4M | $0 | $25.0K |
| Net income | — | -$2.0M | -$3.7M | -$22.9M | -$70.1M | -$23.4M | $12.6M | -$51.4M | $62.8K | -$1.4M |
| EPS, basic | — | -1.09 | -14.29 | -13.32 | -55.80 | -0.47 | 0.28 | -2.82 | -0.05 | — |
| EPS, diluted | — | -1.09 | -14.29 | -13.32 | -55.80 | -0.47 | 0.28 | 0.00 | 0.00 | -0.38 |
| Shares, diluted (wtd. avg.) | — | $4.0M | $539.1K | $2.0M | $1.3M | $54.9M | $45.2M | $17.9M | $7.7M | — |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | $2.3M | $2.5M | $1.8M | $6.7M | $26.4M | $14.8M | $4.7M | $4.3M | $284.2K |
| Short-term investments | — | — | — | — | $0 | $33.4K | $26.5K | $198.5K | $1.1M | $0 |
| Receivables | — | $786.4K | $621.7K | $585.3K | $273.5K | — | — | $0 | $459.0K | $0 |
| Inventory | — | $2.9M | $2.5M | $4.2M | $4.8M | $5.6M | $4.9M | $5.2M | $123.2K | $588.2K |
| Total current assets | — | $6.6M | $6.4M | $8.1M | $16.0M | $36.5M | $23.7M | $15.7M | $11.8M | $3.7M |
| Property, plant and equipment | — | $277.4K | $454.3K | $716.6K | $823.3K | $2.6M | $3.2M | $1.7M | $53.5K | $135.5K |
| Goodwill | — | — | — | $0 | $0 | $56.7M | $54.7M | $54.7M | $0 | — |
| Other intangibles | — | $2.1M | $2.9M | $3.2M | $17.8M | $23.0M | $21.6M | $21.6M | $3.2M | $3.2M |
| Total assets | — | $10.4M | $10.6M | $16.2M | $40.8M | $124.9M | $110.8M | $94.5M | $15.0M | $7.1M |
| Accounts payable | — | $1.2M | $1.5M | $1.9M | $2.0M | $3.0M | $2.9M | $3.0M | $473.7K | $397.6K |
| Total current liabilities | — | $3.2M | $8.6M | $4.7M | $5.3M | $6.9M | $7.7M | $3.7M | $970.0K | $1.5M |
| Long-term debt | — | — | — | $9 | $125.5K | $109.0K | $264.4K | — | — | — |
| Total liabilities | — | $3.2M | $8.6M | $7.2M | $9.4M | $21.7M | $31.7M | $56.9M | $998.5K | $1.9M |
| Retained earnings | — | -$179.4M | -$182.1M | -$174.4M | -$147.4M | -$73.3M | -$47.4M | -$59.6M | -$6.7M | -$6.3M |
| Total equity | — | $7.2M | $2.0M | $9.0M | $31.4M | $103.1M | $79.2M | $37.6M | $14.0M | $5.1M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | -$1.5M | -$352.8K | -$4.3M | -$15.0M | -$14.1M | -$10.7M | -$15.4M | -$5.6M | -$2.3M |
| Depreciation and amortisation | — | $361.1K | $452.3K | $404.3K | $949.0K | $1.0M | $720.8K | $289.6K | $222.5K | $71.3K |
| Stock-based compensation | — | — | — | — | — | $1.3M | $1.9M | $2.5M | $639.6K | $56.5K |
| Capital expenditure | — | $184.2K | $190.0K | $297.5K | $688.7K | $342.0K | $1.3M | $1.2M | $23.6K | $8.0K |
| Investing cash flow | — | -$184.2K | -$290.0K | $702.5K | -$688.7K | -$2.6M | -$1.6M | -$2.1M | -$683.6K | $192.0K |
| Financing cash flow | — | $1.4M | $1.3M | -$1.3M | -$4.0M | $28.2M | $22.4M | $17.9M | $10.3M | $2.4M |
| Dividends paid | — | — | — | — | — | $2.6M | $366.9K | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-001542.
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