CV Sciences, Inc. (CVSI) Q4 2024 Earnings Conference Call: A Deep Dive
On March 27, 2025, at 10:00 AM ET, CV Sciences, Inc. (CVSI) held its Fourth Quarter and Year-End 2024 Financial Results Conference Call. The participants included Brendan Hawkins, Investor Relations, Joseph Dowling, Chief Executive Officer, and Joerg Grasser, Chief Financial Officer. The call was operated by an unnamed operator.
Company Participants
- Brendan Hawkins: Investor Relations
- Joseph Dowling: Chief Executive Officer
- Joerg Grasser: Chief Financial Officer
Conference Call Transcript
Greetings and welcome to the CV Sciences’ Fourth Quarter and Year-End 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode.
Operator: I would now like to turn the conference over to Mr. Brendan Hawkins, Investor Relations for CV Sciences, Inc., for opening remarks and introductions.
Brendan Hawkins: Thank you, [Operator]. Good morning, everyone, and welcome to CV Sciences’ Fourth Quarter and Year-End 2024 Financial Results Conference Call. Today, we will discuss our financial results for the quarter and year ended December 31, 2024.
Operator: At this time, I would like to remind everyone that any comments made during this conference call may be recorded and may be used in future regulatory filings or disclosures. I would also like to remind everyone that the company’s press release, which was issued earlier today, is available on the Investor Relations section of the company’s website at ir.cvsciences.com.
Joseph Dowling: Thank you, Brendan, and welcome, everyone. I’m Joe Dowling, CEO of CV Sciences. I’ll begin by providing an overview of our financial results for the fourth quarter and year ended December 31, 2024.
Joerg Grasser: Following Joe’s remarks, I, Joerg Grasser, CFO, will provide a more detailed review of our financial statements.
Financial Results
Joseph Dowling: Our total revenue for the year ended December 31, 2024, was $125.6 million, an increase of 35% compared to the previous year. Our net income for the year was $10.2 million, compared to a net loss of $2.5 million in the previous year.
Joerg Grasser: Our net sales for the fourth quarter of 2024 were $31.8 million, an increase of 18% compared to the same quarter last year. Our gross profit for the quarter was $13.2 million, a decrease of 11% compared to the same quarter last year. Our operating expenses for the quarter were $10.4 million, an increase of 1% compared to the same quarter last year.
Impact on Individuals
The strong financial performance of CV Sciences, Inc. is a positive sign for investors in the company. The increase in revenue and net income indicates that the company’s products are gaining popularity and that the market for CBD-infused products continues to grow.
Impact on the World
The continued growth of the CBD market is a significant development in the world of health and wellness. As more and more people turn to natural remedies for various ailments, the demand for CBD-infused products is expected to continue to rise. This trend is likely to lead to increased research and development in the field, as well as increased competition among companies.
Conclusion
In conclusion, the CV Sciences, Inc. Q4 2024 Earnings Conference Call provided insight into the company’s strong financial performance for the year ended December 31, 2024. The increase in revenue and net income is a positive sign for investors and indicates the continued growth of the CBD market. The impact on individuals and the world is significant, as more and more people turn to natural remedies for their health and wellness needs.
Thank you for joining us today for this discussion. We look forward to continuing to provide updates on our financial performance and business developments in the future.
