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10-Q Filing

CBDMD, INC. CIK: 1644903 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001437749-23-003144
Period End Date 20221231
Filing Date 20230213
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance ycbd20221231_10q_htm.xml
Balance Sheet 84 line items
Line Item Tag Value Unit Period
Preferred Stock, Shares Authorized (in shares) PreferredStockSharesAuthorized 50.00M shares Point-in-time
Preferred Stock, Shares Authorized (in shares) PreferredStockSharesAuthorized 50.00M shares Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.72M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.35M USD Point-in-time
Preferred Stock, Par or Stated Value Per Share (in dollars per share) PreferredStockParOrStatedValuePerShare $0.00 USD Point-in-time
Preferred Stock, Shares Issued (in shares) PreferredStockSharesIssued 5.00M shares Point-in-time
Accounts receivable AccountsReceivableGrossCurrent $1.45M USD Point-in-time
Preferred Stock, Shares Issued (in shares) PreferredStockSharesIssued 5.00M shares Point-in-time
Accounts receivable AccountsReceivableGrossCurrent $898.72K USD Point-in-time
Accounts receivable discontinued operations DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet - USD Point-in-time
Accounts receivable discontinued operations DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet $1.38K USD Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares) PreferredStockSharesOutstanding 5.00M shares Point-in-time
Preferred Stock, Shares Outstanding, Ending Balance (in shares) PreferredStockSharesOutstanding 5.00M shares Point-in-time
Common Stock, Shares Authorized (in shares) CommonStockSharesAuthorized 150.00M shares Point-in-time
Investment other securities OtherShortTermInvestments $1.00M USD Point-in-time
Investment other securities OtherShortTermInvestments $1.00M USD Point-in-time
Common Stock, Shares Authorized (in shares) CommonStockSharesAuthorized 150.00M shares Point-in-time
Inventory InventoryGross $4.26M USD Point-in-time
Inventory InventoryGross $4.69M USD Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common Stock, Par or Stated Value Per Share (in dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Inventory prepaid PrepaidInventory $170.66K USD Point-in-time
Inventory prepaid PrepaidInventory $511.46K USD Point-in-time
Common Stock, Shares, Issued (in shares) CommonStockSharesIssued 60.71M shares Point-in-time
Common Stock, Shares, Issued (in shares) CommonStockSharesIssued 60.67M shares Point-in-time
Prepaid sponsorship PrepaidSponsorship $66.78K USD Point-in-time
Prepaid sponsorship PrepaidSponsorship $1.37M USD Point-in-time
Common Stock, Shares, Outstanding, Ending Balance (in shares) CommonStockSharesOutstanding 60.71M shares Point-in-time
Common Stock, Shares, Outstanding, Ending Balance (in shares) CommonStockSharesOutstanding 60.67M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $701.95K USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $1.35M USD Point-in-time
Total current assets AssetsCurrent $11.53M USD Point-in-time
Total current assets AssetsCurrent $16.01M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $823.31K USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $900.57K USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $4.20M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $4.48M USD Point-in-time
Deposits for facilities DepositsAssetsNoncurrent $244.61K USD Point-in-time
Deposits for facilities DepositsAssetsNoncurrent $138.71K USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $17.83M USD Point-in-time
Intangible assets IntangibleAssetsNetExcludingGoodwill $17.56M USD Point-in-time
Investment in other securities, noncurrent OtherLongTermInvestments $1.40M USD Point-in-time
Investment in other securities, noncurrent OtherLongTermInvestments $1.40M USD Point-in-time
Total other assets OtherAssets $24.78M USD Point-in-time
Total other assets OtherAssets $24.20M USD Point-in-time
Total assets Assets $40.79M USD Point-in-time
Total assets Assets $35.73M USD Point-in-time
Accounts payable AccountsPayableCurrent $2.04M USD Point-in-time
Accounts payable AccountsPayableCurrent $1.69M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.06M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $2.65M USD Point-in-time
Operating leases current portion OperatingLeaseLiabilityCurrent $1.20M USD Point-in-time
Operating leases current portion OperatingLeaseLiabilityCurrent $1.18M USD Point-in-time
Note payable NotesPayableCurrent $9.76K USD Point-in-time
Note payable NotesPayableCurrent $9.61K USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.29M USD Point-in-time
Total current liabilities LiabilitiesCurrent $5.55M USD Point-in-time
Long term liabilities LongTermDebtNoncurrent $125.49K USD Point-in-time
Long term liabilities LongTermDebtNoncurrent - USD Point-in-time
Operating leases - long term portion OperatingLeaseLiabilityNoncurrent $3.68M USD Point-in-time
Operating leases - long term portion OperatingLeaseLiabilityNoncurrent $3.37M USD Point-in-time
Contingent liability BusinessCombinationContingentConsiderationLiabilityNoncurrent $276.00K USD Point-in-time
Contingent liability BusinessCombinationContingentConsiderationLiabilityNoncurrent $215.00K USD Point-in-time
Total long term liabilities LiabilitiesNoncurrent $4.08M USD Point-in-time
Total long term liabilities LiabilitiesNoncurrent $3.58M USD Point-in-time
Total liabilities Liabilities $9.14M USD Point-in-time
Total liabilities Liabilities $9.37M USD Point-in-time
Commitments and Contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies (Note 11) CommitmentsAndContingencies - USD Point-in-time
Preferred stock, authorized 50,000,000 shares, $0.001 par value, 5,000,000 and 5,000,000 shares issued and outstanding, respectively PreferredStockValue $5.00K USD Point-in-time
Preferred stock, authorized 50,000,000 shares, $0.001 par value, 5,000,000 and 5,000,000 shares issued and outstanding, respectively PreferredStockValue $5.00K USD Point-in-time
Common stock, authorized 150,000,000 shares, $0.001 par value, 60,712,262 and 60,665,595 shares issued and outstanding, respectively CommonStockValue $60.67K USD Point-in-time
Common stock, authorized 150,000,000 shares, $0.001 par value, 60,712,262 and 60,665,595 shares issued and outstanding, respectively CommonStockValue $60.71K USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $178.78M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $178.91M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-147.42M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-152.38M USD Point-in-time
Total cbdMD, Inc. shareholders' equity StockholdersEquity $31.42M USD Point-in-time
Total cbdMD, Inc. shareholders' equity StockholdersEquity $26.59M USD Point-in-time
Total cbdMD, Inc. shareholders' equity StockholdersEquity $84.40M USD Point-in-time
Total cbdMD, Inc. shareholders' equity StockholdersEquity $103.14M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $40.79M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $35.73M USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Gross Sales RevenueFromContractWithCustomerIncludingAssessedTax $9.86M USD 1 Quarter
Gross Sales RevenueFromContractWithCustomerIncludingAssessedTax $6.24M USD 1 Quarter
Allowances SalesAllowances $534.95K USD 1 Quarter
Allowances SalesAllowances $155.31K USD 1 Quarter
Total Net Sales Revenues $9.32M USD 1 Quarter
Total Net Sales Revenues $6.09M USD 1 Quarter
Cost of sales CostOfRevenue $2.52M USD 1 Quarter
Cost of sales CostOfRevenue $4.33M USD 1 Quarter
Gross Profit GrossProfit $3.57M USD 1 Quarter
Gross Profit GrossProfit $4.99M USD 1 Quarter
Operating expenses OperatingExpensesExcludingImpairment $11.96M USD 1 Quarter
Operating expenses OperatingExpensesExcludingImpairment $7.61M USD 1 Quarter
Impairment of goodwill and other intangible assets GoodwillAndIntangibleAssetImpairment - USD 1 Quarter
Impairment of goodwill and other intangible assets GoodwillAndIntangibleAssetImpairment $18.18M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-4.05M USD 1 Quarter
Loss from operations OperatingIncomeLoss $-25.15M USD 1 Quarter
Realized and Unrealized loss on marketable and other securities, including impairments MarketableSecuritiesGainLoss $-33.35K USD 1 Quarter
Realized and Unrealized loss on marketable and other securities, including impairments MarketableSecuritiesGainLoss - USD 1 Quarter
Decrease of contingent liability BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-61.00K USD 1 Quarter
Decrease of contingent liability BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-5.95M USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense - USD 1 Quarter
Other income (expense) OtherNonoperatingIncomeExpense $70.74K USD 1 Quarter
Interest expense InterestIncomeExpenseNet $-3.23K USD 1 Quarter
Interest expense InterestIncomeExpenseNet $29.12K USD 1 Quarter
Loss before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-19.16M USD 1 Quarter
Loss before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-3.96M USD 1 Quarter
Benefit for income taxes IncomeTaxExpenseBenefit - USD 1 Quarter
Benefit for income taxes IncomeTaxExpenseBenefit - USD 1 Quarter
Net (Loss) Income NetIncomeLoss $-3.96M USD 1 Quarter
Net (Loss) Income NetIncomeLoss $-19.16M USD 1 Quarter
Preferred dividends PreferredStockDividendsIncomeStatementImpact $1.00M USD 1 Quarter
Preferred dividends PreferredStockDividendsIncomeStatementImpact $1.00M USD 1 Quarter
Net Loss attributable to cbdMD, Inc. common shareholders NetIncomeLossAvailableToCommonStockholdersBasic $-20.16M USD 1 Quarter
Net Loss attributable to cbdMD, Inc. common shareholders NetIncomeLossAvailableToCommonStockholdersBasic $-4.96M USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $-0.08 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $-0.35 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $-0.35 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $-0.08 USD 1 Quarter
Weighted average number of shares Basic: (in shares) WeightedAverageNumberOfSharesOutstandingBasic 60.36M shares 1 Quarter
Weighted average number of shares Basic: (in shares) WeightedAverageNumberOfSharesOutstandingBasic 57.83M shares 1 Quarter
Weighted average number of shares Diluted: (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 57.83M shares 1 Quarter
Weighted average number of shares Diluted: (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 60.36M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net Income (Loss) Attributable to Parent, Total NetIncomeLoss $-3.96M USD 1 Quarter
Net Income (Loss) Attributable to Parent, Total NetIncomeLoss $-19.16M USD 1 Quarter
Stock based compensation StockOptionPlanExpense $505.47K USD 1 Quarter
Stock based compensation StockOptionPlanExpense $79.45K USD 1 Quarter
Restricted stock expense RestrictedStockExpense $508.75K USD 1 Quarter
Restricted stock expense RestrictedStockExpense $43.45K USD 1 Quarter
Write off of prepaid assets due to termination of contractual obligation WriteOffOfPrepaidAssets - USD 1 Quarter
Write off of prepaid assets due to termination of contractual obligation WriteOffOfPrepaidAssets $884.89K USD 1 Quarter
Marketing stock amortization MarketingStockAmortization $220.00K USD 1 Quarter
Marketing stock amortization MarketingStockAmortization - USD 1 Quarter
Inventory and materials impairment InventoryWriteDown $878.14K USD 1 Quarter
Inventory and materials impairment InventoryWriteDown - USD 1 Quarter
Intangibles Amortization AmortizationOfIntangibleAssets $277.35K USD 1 Quarter
Intangibles Amortization AmortizationOfIntangibleAssets - USD 1 Quarter
Depreciation Depreciation $340.70K USD 1 Quarter
Depreciation Depreciation $100.11K USD 1 Quarter
Impairment of goodwill and other intangible assets GoodwillAndIntangibleAssetImpairment - USD 1 Quarter
Impairment of goodwill and other intangible assets GoodwillAndIntangibleAssetImpairment $18.18M USD 1 Quarter
Increase/(Decrease) in contingent liability BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-61.00K USD 1 Quarter
Increase/(Decrease) in contingent liability BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 $-5.95M USD 1 Quarter
Realized and unrealized loss (gain) on of Marketable and other securities MarketableSecuritiesGainLoss $-33.35K USD 1 Quarter
Realized and unrealized loss (gain) on of Marketable and other securities MarketableSecuritiesGainLoss - USD 1 Quarter
Amortization of operating lease asset OperatingLeaseRightOfUseAssetAmortizationExpense $276.64K USD 1 Quarter
Amortization of operating lease asset OperatingLeaseRightOfUseAssetAmortizationExpense $318.02K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-4.55K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-549.11K USD 1 Quarter
Deposits IncreaseDecreaseInDepositOtherAssets $-121.88K USD 1 Quarter
Deposits IncreaseDecreaseInDepositOtherAssets $-105.90K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $434.69K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $723.48K USD 1 Quarter
Prepaid inventory IncreaseDecreaseInPrepaidInventoryTotal $8.19K USD 1 Quarter
Prepaid inventory IncreaseDecreaseInPrepaidInventoryTotal $-340.80K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $226.67K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $303.39K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-127.25K USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $39.20K USD 1 Quarter
Operating lease liability IncreaseDecreaseInOperatingLeaseLiability $-287.55K USD 1 Quarter
Operating lease liability IncreaseDecreaseInOperatingLeaseLiability $-321.46K USD 1 Quarter
Deferred revenue / customer deposits IncreaseDecreaseInDeferredRevenue $3.72K USD 1 Quarter
Deferred revenue / customer deposits IncreaseDecreaseInDeferredRevenue $203.34K USD 1 Quarter
Collection on discontinued operations accounts receivable CollectionOnDiscontinuedOperationsAccountsReceivable $8.34K USD 1 Quarter
Collection on discontinued operations accounts receivable CollectionOnDiscontinuedOperationsAccountsReceivable $1.38K USD 1 Quarter
Cash used by operating activities NetCashProvidedByUsedInOperatingActivities $-5.47M USD 1 Quarter
Cash used by operating activities NetCashProvidedByUsedInOperatingActivities $-2.06M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $231.03K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $177.37K USD 1 Quarter
Cash flows from investing activities NetCashProvidedByUsedInInvestingActivities $-177.37K USD 1 Quarter
Cash flows from investing activities NetCashProvidedByUsedInInvestingActivities $-231.03K USD 1 Quarter
Note payable ProceedsFromRepaymentsOfNotesPayable $-14.50K USD 1 Quarter
Note payable ProceedsFromRepaymentsOfNotesPayable $-125.34K USD 1 Quarter
Preferred dividend distribution PaymentsOfDividendsPreferredStockAndPreferenceStock $1.00M USD 1 Quarter
Preferred dividend distribution PaymentsOfDividendsPreferredStockAndPreferenceStock $1.00M USD 1 Quarter
Cash flows from financing activities NetCashProvidedByUsedInFinancingActivities $-1.13M USD 1 Quarter
Cash flows from financing activities NetCashProvidedByUsedInFinancingActivities $-1.01M USD 1 Quarter
Net increase (decrease) in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-3.37M USD 1 Quarter
Net increase (decrease) in cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-6.71M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $3.35M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $26.41M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $19.70M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $6.72M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $3.35M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $26.41M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $19.70M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $6.72M USD Point-in-time
Interest expense InterestPaidNet $3.23K USD 1 Quarter
Interest expense InterestPaidNet $2.64K USD 1 Quarter
Stockholders Equity 19 line items
Line Item Tag Value Unit Period
Balance StockholdersEquity $31.42M USD Point-in-time
Balance StockholdersEquity $26.59M USD Point-in-time
Balance StockholdersEquity $84.40M USD Point-in-time
Balance StockholdersEquity $103.14M USD Point-in-time
Issuance of stock StockIssuedDuringPeriodValueNewIssues $405.00K USD 1 Quarter
Issuance of stock StockIssuedDuringPeriodValueNewIssues - USD 1 Quarter
Issuance of stock StockIssuedDuringPeriodValueNewIssues $405.00K USD 1 Quarter
Issuance of stock StockIssuedDuringPeriodValueNewIssues - USD 1 Quarter
Issuance of options for share based compensation StockIssuedDuringPeriodValueStockOptionsExercised $505.47K USD 1 Quarter
Issuance of restricted stock for share based compensation StockIssuedDuringPeriodValueRestrictedStockAwardGross $508.75K USD 1 Quarter
Issuance of restricted stock for share based compensation StockIssuedDuringPeriodValueRestrictedStockAwardGross $43.45K USD 1 Quarter
Preferred dividend DividendsPreferredStockCash $1.00M USD 1 Quarter
Preferred dividend DividendsPreferredStockCash $1.00M USD 1 Quarter
Net Loss NetIncomeLoss $-3.96M USD 1 Quarter
Net Loss NetIncomeLoss $-19.16M USD 1 Quarter
Balance StockholdersEquity $31.42M USD Point-in-time
Balance StockholdersEquity $26.59M USD Point-in-time
Balance StockholdersEquity $84.40M USD Point-in-time
Balance StockholdersEquity $103.14M USD Point-in-time
Comprehensive Income 8 line items
Line Item Tag Value Unit Period
Net Loss NetIncomeLoss $-3.96M USD 1 Quarter
Net Loss NetIncomeLoss $-19.16M USD 1 Quarter
Comprehensive (Loss) Income ComprehensiveIncomeLossNetOfTaxAttributableToParentBeforeIncomeAdjustments $-3.96M USD 1 Quarter
Comprehensive (Loss) Income ComprehensiveIncomeLossNetOfTaxAttributableToParentBeforeIncomeAdjustments $-19.16M USD 1 Quarter
Preferred dividends PreferredStockDividendsIncomeStatementImpact $1.00M USD 1 Quarter
Preferred dividends PreferredStockDividendsIncomeStatementImpact $1.00M USD 1 Quarter
Comprehensive (Loss) Income attributable to cbdMD, Inc. common shareholders ComprehensiveIncomeNetOfTax $-4.96M USD 1 Quarter
Comprehensive (Loss) Income attributable to cbdMD, Inc. common shareholders ComprehensiveIncomeNetOfTax $-20.16M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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