cbdMD Inc

cbdmd.com

What Do They Do?

Sells hemp-derived wellness supplements, beverages and pet products to consumers, retailers and distributors.

How Do They Make Money?

Consumers typically pay before products ship for online and telephone orders. Wholesale customers generally pay within 30 days after the products are transferred to them, though payment terms vary.

FY2025 revenue

Who Are Their Customers?

Consumers buy through the company’s websites and telephone channel; retailers and wholesale distributors buy products for resale, with inside sales reaching specialty retailers and distributors.

Do Revenues Turn Into Profits?

No. It lost $2M in FY2025.

Operating income, FY2025

−11% of revenue

▼ −35% (Loss) vs FY2024 (−$3.3M, −17%)

Net income, FY2025

−11% of revenue

▼ −45% (Loss) vs FY2024 (−$3.7M, −19%)

Free cash flow, FY2025

−9% of revenue

▲ +201% (Loss) vs FY2024 (−$542.8K, −3%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +21%; vs $4.6M in Q3 FY2025
Net income: ▲ +26% (Loss); vs −$895.3K in Q3 FY2025

Sep 2, 2026 Agreed to acquire Twinlab-related assets The assets include subsidiary stock, intellectual property, inventory and receivables; closing requires court approval and other conditions.
Jan 14, 2026 Acquired Gaia’s brand and online CBD marketplace The acquired assets included Gaia’s brand name, online marketplace, related trademarks, inventory and certain other assets.

Shrinking. Revenue fell 57% in 4 years, from $44.5M in FY2021 to $19.2M in FY2025, about 19% a year.

Broader product range The brand lineup has expanded beyond CBD and pet products to include functional mushroom supplements and hemp-derived THC beverages.

Manufacturing model Production has shifted from fully outsourced manufacturing to a hybrid setup with some in-house production and third-party manufacturers.

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