logo-loader
viewCharlotte's Web Holdings

Charlotte's Web sees 1Q revenue boost

The company said 51% of its revenue came from the 6,000 retail outlets that sell its CBD and hemp-wellness products

cannabis
Charlotte's Web reiterated its full-year revenue guidance of US$120 million to US$170 million

Charlotte's Web Holdings Inc (OTCMKTS:CWBHF) (CSE:CWEB) on Tuesday reported first-quarter revenue of US$21.7 million.

The cannabis company, based Boulder, Colorado, said revenue grew by 66%, compared to the year-ago quarter of US$13.1 million. 

Charlotte’s Web said 51% of its revenue came from the 6,000 retail outlets that sell its CBD and hemp-wellness products. 

The company also reported net income of US$2.3 million, or US$0.02 a share, compared to US$3.1 million, or US$0.04 a share, in the prior-year quarter.

Charlotte's Web reiterated its full-year revenue guidance of US$120 million to US$170 million.

The company's stock closed up 2.4% to US$14.79 a share on the OTC markets and up 3.6% at C$20.02 in Canadian trading. 

Contact the author: [email protected]

Follow him on Twitter @PatrickMGraham

Quick facts: Charlotte's Web Holdings

Price: - -

CSE:CWEB
Market: CSE
Market Cap: -
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Bay Talent Group driving growth through acquisition of talent companies

"Bay Talent Group CEO Allan Hartley sat down with Proactive's Steve Darling at the 12th annual LD Micro Conference in Bel Air, California. Based in Toronto, the company is a growing global network of boutique executive search, staffing, consulting and technology companies that provide talent...

58 minutes ago

2 min read