CV Sciences Inc (CVSI)

[Gladys Thong]

"Scaled Back"? "Revenue Erosion" Is More Accurate.

Quarterly Revenues: CVSciences vis-a-vis Charlotte'sWeb

In mid 2018, soon after Charlotte's Web's IPO, CV Sciences' quarterly revenues were approximately 75% compared to those of Charlotte's Web.

Since then, there has been a steady and steep erosion in CV Sciences' quarterly revenues to less than 40% when compared to Charlotte's Web:

 
       CVSI    CWBHF  CVSI/CWBHF 
        $M      $M 
  
 2018 
      
 Q2    12.3     17.2     72% 
 Q3    13.6     17.7     77% 
 Q4    14.2     21.5     66% 
  
 2019 
  
 Q1    14.9     21.7     69% 
 Q2    16.9     25.0     68% 
 Q3    12.6     25.1     50% 
 Q4     9.4     22.8     41% 
  
 2020 
  
 Q1     8.3     21.5     39% 
 

CVSI has little need to buy more raw material (European hemp paste) when its sales are tanking.