cbdMD’s Pet Brand, Paw CBD, Sees Sales Increase 64% from March 2020 Quarter to June 2020 Quarter
August 04 2020 - 7:30AM
Business Wire
cbdMD, Inc. (NYSE American: YCBD, YCBD PR A) (the “Company”),
one of the leading and most highly trusted and recognized
cannabidiol (CBD) brands, announced today that its pet CBD brand,
Paw CBD, has seen an approximate 64% increase in net sales from its
March 2020 quarter of approximately $750,000 to approximately
$1,229,000 for its June 2020 quarter.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20200804005124/en/
Paw CBD product portfolio (Photo:
Business Wire)
“Paw CBD was launched less than one year ago, and now it is one
of America’s leading CBD pet brands,” said Ken Cohn, CMO of cbdMD,
Inc. “Sales metrics are all moving in the right direction,
with Paw CBD now trending at over a $7mm annualized run rate, and
cbdMD’s overall direct-to-consumer (DTC) sales making up over 70%
of the brand’s revenue. We are seeing the DTC power of cbdMD.com
translating into significant growth for PawCBD.com.”
Cohn continued: “In the meantime, we continue to focus on
cross-selling, customer retention and education and will be rolling
out Paw CBD subscription and reward programs shortly. As we mimic
the expansion of our original cbdMD products, we are confident that
Paw CBD will be a leader in the CBD pet market.”
The preliminary financial information contained in this press
release has been prepared internally by management and has not been
reviewed or audited by our independent registered public accounting
firm. There can be no assurance that actual results for the periods
presented herein will not differ from the preliminary financial
information presented herein and such changes could be material.
This preliminary financial data should not be viewed as a
substitute for full financial statements prepared in accordance
with GAAP and is not necessarily indicative of the results to be
achieved for any future period.
About Paw CBD
Paw CBD is the pet division of cbdMD, whose
veterinarian-formulated products include tinctures, chews, and
topicals in varying strengths and formulas. Committed to bringing
high-quality options for the animals in your life, Paw CBD is proud
to offer premium, non-THC1 CBD products, specially created to
maintain your pets’ ongoing wellbeing and happiness. To learn more
about the comprehensive line of Paw CBD pet products, please visit
pawcbd.com or follow Paw CBD on Instagram and Facebook.
About cbdMD, Inc.
cbdMD, Inc. is one of the leading and most highly trusted and
recognized cannabidiol (CBD) brands whose current products include
CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD bath
bombs and CBD pet products. cbdMD is also a proud partner of
Bellator MMA and Life Time, Inc., and has one of the largest
rosters of professional sports athletes who are part of “Team
cbdMD.” To learn more about cbdMD and our comprehensive line of
over 100 SKUs of U.S. produced, Non THC1 CBD products, please visit
www.cbdMD.com, follow cbdMD on Instagram and Facebook, or visit one
of the 6,000 retail outlets that carry cbdMD products.
Forward-Looking Statements
This presentation contains certain forward-looking statements
that are based upon current expectations and involve certain risks
and uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking statements can
be identified by the use of words such as ″should,″ ″may,″
″intends,″ ″anticipates,″ ″believes,″ ″estimates,″ ″projects,″
″forecasts,″ ″expects,″ ″plans,″ and ″proposes.″ These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties, and other factors, some of
which are beyond cbdMD, Inc.’s control and difficult to predict and
could cause actual results to differ materially from those
expressed or forecasted in the forward-looking statements
including, without limitation, the continued consumer acceptance of
Paw CBD, our ability to maintain or increase net sales from this
product line, and statements made with respect to our actual
financial results for the third quarter of fiscal 2020 and the nine
months ended June 30, 2020 to be contained in our Quarterly Report
on Form 10-Q to be filed with the Securities and Exchange
Commission (“SEC”). You are urged to carefully review and consider
any cautionary statements and other disclosures, including the
statements made under the heading "Risk Factors" in cbdMD, Inc.'s
Annual Report on Form 10-K for the fiscal year ended September 30,
2019 and Part II, Item 1A. Risk Factors appearing in its Quarterly
Report on Form 10-Q for the period ended March 31, 2020, both as
filed with the SEC, and our other filings with the SEC. All
forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements, many of which are
generally outside the control of cbdMD, Inc. and are difficult to
predict. cbdMD, Inc. does not undertake any duty to update any
forward-looking statements except as may be required by law. The
information which appears on our websites and our social media
platforms, including, but not limited to, Instagram and Facebook,
is not part of this presentation.
1 Non-THC is defined as below the level of detection using
validated scientific analytical tools.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200804005124/en/
PR: cbdMD, Inc. Lauren Greene Communication Specialist
lauren.greene@cbdmd.com 843-743-9999
Investors: cbdMD, Inc. John Weston Director of Investor
Relations john.weston@cbdmd.com 704-249-9515
cbdMD (AMEX:YCBD)
Historical Stock Chart
From Aug 2024 to Sep 2024
cbdMD (AMEX:YCBD)
Historical Stock Chart
From Sep 2023 to Sep 2024