cbdMD Posts 285% Year-Over-Year Increase In Net Sales

The consumer CBD company cbdMD, Inc. (NYSE: YCBD) released its first-quarter 2020 financial results Thursday, posting record net sales of $10.14 million, up 285% year-over-year.

The company reached a gross profit margin of 63.5% in the quarter versus 64.4% in the same period last year. 

The net loss from operations amounted to $6.11 million, of which non-cash items amounted to about $965,000.

First-quarter net income totaled $12.86 million or 45 cents per diuted share. 

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