Charlotte's Web Holdings Narrows Loss, Improves Revenue in Q4
The market for cannabidiol (CBD) products remains buoyant, at least going by the latest revenue figure published by a leading specialist in such goods, Charlotte's Web Holdings (OTC: CWBHF).
On Thursday, the company released its fourth quarter of fiscal 2020 results, which revealed that total revenue was $26.9 million for growth on both a quarter-over-quarter (7%) and year-over-year (18%) basis. On the bottom line, net loss for the period was $14.7 million ($0.11 per share), deeper than the $6.6 million of Q3 but narrower than the $18.8 million in the year-ago quarter.
In terms of adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), which happens to be the cannabis industry's favored profitability yardstick, Charlotte's Web was in negative territory, at $2.1 million. That compares quite well to the Q3 shortfall of $6.7 million, and Q4 2019's $10.1 million.
Source Fool.com
