Charlotte-based CBD company cbdMD (AMEX: YCBD) reported its second-quarter fiscal 2023 results late Monday, revealing an improved net loss and significant reductions in selling, general and administrative (SG&A) costs.

"This is one of the best operating results we have had since the company acquired the cbdMD brand…We reduced SG&A expenses by an annualized $24 million year over year," said Ronan Kennedy, cbdMD's Interim CEO and CFO in a press release

The decrease in SG&A costs represents an annualized spending reduction of $24 million yearly. In addition, the company reported a net loss of $1.4 million on sales of $6.2 million for the quarter, compared to a net loss of $5.0 million on …

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