CV Sciences Inc (CVSI)

[Wolf-man jack]

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Based on the latest available financial reports for fiscal year 2025 and Q4 2025, the gross margins for cbdMD, Charlotte's Web, and CV Sciences reflect an industry-wide push for improved efficiency and in-house manufacturing.

cbdMD, Inc. (YCBD)

Fiscal Year 2025 Gross Margin: Reported a gross margin of 63% for the full fiscal year 2025.

Q4 2025 Gross Margin: Reported 59%, an increase from 54% in the same quarter of the previous year.

Performance Note: The company saw a 6% year-over-year decline in e-commerce sales but maintained strong margins due to a shift towards a more profitable wholesale mix, with wholesale growing 25% in Q4.

Charlotte's Web Holdings, Inc. (CWBHF)

Q3 2025 Gross Margin: Reported 38.9% (down from 53.0% in Q3 2024), pressured by a one-time $0.5 million B2B retail chargeback reserve and higher cost of goods sold (COGS) during the transition to in-house manufacturing.

Q2 2025 Gross Margin: Reported 46.8% (compared to 21.0% in Q2 2024, which was impacted by a significant one-time inventory charge).

Outlook: The company anticipates a rebound in gross margins as in-house production scales through 2026.

CV Sciences, Inc. (CVSI)

Fiscal Year 2025 Gross Margin: Reported 49.0% (up from 45.6% in 2024), driven by in-house production efficiencies (Elevated Softgels) and cost reductions.

Q4 2025 Gross Margin: Reported 50.5%, improving from 43.2% in Q4 2024 and 48.5% in Q3 2025.

Performance Note: Despite a 12.2% year-over-year revenue decline in 2025, the company narrowed its net loss through improved margins and strict cost control.

Comparison Summary (Fiscal Year 2025 / Q4 2025)

Company FY 2025 Gross Margin Q4 2025 Gross Margin Notes

cbdMD ~63% 59% Strong margin maintenance via wholesale shift

CV Sciences 49% 50.5% Significant improvement from 2024

Charlotte's Web N/A (Q3: 38.9%) N/A Impacted by in-house transition costs