CV Sciences, Inc. (OTCQB: CVSI), a consumer wellness company specializing in hemp extracts and other science-backed, natural ingredients and products, announced its financial results for the quarter ended September 30, 2023.
Third Quarter 2023 Financial Highlights
- Q3 2023 revenue increased to $4.1 million, demonstrating a 9% growth compared to Q3 2022 and a sequential improvement from $4.0 million in Q2 2023.
- Gross margin for Q3 2023 reached 45.1%, up from 41.6% in Q3 2022 and a sequential improvement from 43.3% in Q2 2023.
- Ending Q3 2023 with a cash balance of $1.6 million, a notable increase from $0.6 million at the end of 2022.
- Positive cash flow …