Company profile

Ticker
CVSI
Exchange
CEO
Joseph D. Dowling
Employees
Incorporated in
Location
Fiscal year end
Former names
CannaVEST Corp., Foreclosure Solutions, Inc.
SEC CIK
IRS number
800944970

CVSI stock data

(
)

Calendar

7 Aug 19
22 Sep 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 16.85M 14.91M 14.22M 13.6M
Net income 1.23M -9.38M 2.9M 3.29M
Diluted EPS 0.01 -0.1 0.03 0.03
Net profit margin 7.29% -62.93% 20.39% 24.23%
Operating income 1.25M -9.38M 2.76M 3.53M
Net change in cash 1.6M 954K 2.41M 3.82M
Cash on hand 15.24M 13.64M 12.68M 10.27M
Cost of revenue 4.9M 4.35M 4.91M 3.66M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 48.24M 20.68M 11.06M 11.53M
Net income 10M -4.9M -14.14M -12.23M
Diluted EPS 0.09 -0.06 -0.27 -0.35
Net profit margin 20.73% -23.68% -128% -106%
Operating income 10.25M -4.86M -13.07M -11.21M
Net change in cash 10.67M 1.23M 263.4K -1.78M
Cash on hand 12.68M 2.01M 781.86K 518.46K
Cost of revenue 14.37M 6.19M 4.06M 4.8M

Financial data from Cv Sciences earnings reports

Financial report summary

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Management Discussion
  • We had product sales of $16.9 million and gross profit of $12.0 million, representing a gross margin of 70.9% in the second quarter of 2019 compared with product sales of $12.3 million and gross profit of $9.1 million, representing a gross margin of 73.4% in the second quarter of 2018. We increased our product sales by $4.5 million or 36% in the second quarter of 2019 when compared to second quarter 2018 results. The sales increase in the second quarter 2019 compared with 2018 is primarily due to an increase in distribution, customer awareness and demand for our branded PlusCBD™ products, as we continued to expand and maintain our core customer base. We also launched new products and formulations, including softgels, gummies, and most recently topicals, which helped drive our overall sales. As of June 30, 2019, our products were in 4,591 retail stores, mostly in the natural product industry and two nationwide retailers. This store count has increased from 1,968 as of June 30, 2018. During the three months ended June 30, 2019 and 2018, e-commerce sales accounted for 15.7% and 12.0%, respectively.
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