cbdMD Net Sales Increase 77% Year-Over-Year, Direct E-Commerce Sales Jump To $30.5M

Cannabidiol brand cbdMD Inc. (NYSE: YCBD) revealed Tuesday that its net sales increased by 77% year-over-year to $41.9 million in fiscal 2020, slightly surpassing its expectations for the period.

The Charlotte, North Carolina-based company reported direct-to-consumer e-commerce net sales of $30.5 million for the year, accounting for 73% of total net sales. That's a 106% increase over fiscal 2019.

Martin Sumichrast, the company's chairman and co-CEO, said it's built two CBD brands, including  cbdMD and Paw CBD, in two years with "less cash than …

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