CV Sciences reports revenue decline for second straight quarter
Industrial Hemp NewsMarijuana Laws, Regulations, & Politics August 6, 2020 MJ Shareholders 0
CV Sciences Inc., a San Diego-based CBD manufacturer, reported $5.4 million in revenue for the fiscal quarter that ended June 30 – a massive drop from the $16.9 million it reported during the same period in 2019.
The revenue decline represents a 68% decrease from the same quarter last year, according to the company’s latest earnings report released Thursday. It’s also decrease from the $8.3 million in revenue reported in the year’s first quarter ending March 31.
The company attributed the losses, in part, to COVID-19 and its wide-ranging impacts on business.
CV Sciences trades on over-the-counter markets under the ticker symbol CVSI.
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