Charlotte's Web Holdings Inc (CWBHF)

[JohnCM]

I am surprised they are not EBITDA profitable yet. One may want to nibble in the $3.50's.

Q1-2021 Financial Highlights
• Consolidated revenue increased 9.1% to $23.4 million vs. $21.5 million in Q1-2020
• DTC eCommerce sales increased 14.5% year-over-year and contributed 68.9% of Q1 revenue
• B2B net revenue decreased 1.4% year-over-year. Excluding non-retail B2B hemp drying services,
comparable B2B retail sales increased 11.0% and expanded market share
• Gross profit of $13.7 million, or 58.4% of consolidated revenue
• Operating expenses were 2.9% higher year-over-year and 15.2% lower from Q3-2020 in line with the cost
reduction plan implemented Q4-2020
• Adjusted EBITDA loss of $4.7 million vs. loss of $5.7 million in Q1-2020
• $35.0 million cash (plus $10.8 million pending IRS tax receivable) and $95.6 million working capital on
March 31, 2021
• $10 million unused line of credit with JPMorgan extendable to $20 million