cbdMD Reports 19% YoY Revenue Growth In Q2, Narrows Net Loss Despite Acquisition-Related Costs

cbdMD, Inc. (NYSE: YCBD) announced on Thursday that its second-quarter revenue reached $5.6 million, representing a 19% year-over-year increase and a 12% sequential increase.

The company said core business revenue was the company’s highest quarterly level since the first quarter of fiscal 2024. That’s excluding Bluebird acquisition impact, according to the company’s press release.

The Bluebird Botanicals acquisition, wrapped up in January 2026, is integrating on schedule, the company said, adding the brand became profitable in March and is expected to contribute further revenue and earnings growth in upcoming quarters.

Ronan Kennedy, the company’s CEO and CFO, said the second quarter saw “meaningful execution on multiple fronts.”

“Our core business delivered another quarter of consistent growth, and we completed and integrated our first acquisition in years,” Kennedy stated. “The Bluebird Botanicals acquisition is a case study for what we can do — leveraging our infrastructure, marketing engine, and NYSE American listing to unlock value in a fragmented industry — and it sets the template for additional roll-up opportunities across hemp and adjacent health and wellness categories.”

Q2 2026 Financial Highlights

• Direct-to-consumer sales totaled $3.8 million, representing 67% of total sales, up 4% year over year.
• Wholesale sales amounted to $1.8 million, representing 33% of total sales. That’s an increase of 65% over the same period.
• Gross profit was $3.2 million, up from $2.9 million in the second quarter of fiscal 2025.
• Loss from operations was $801,000 as compared to a loss of $485,000 in the second quarter of fiscal 2026.
• Net loss attributable to common shareholders was roughly $0.88 million, or a loss of $0.08 per share, as compared to a net loss for the second quarter of fiscal 2025 of approximately $1.5 million, or $1.90 per share.
• Non-GAAP adjusted EBITDA loss from operations was roughly $220,000 compared to adjusted EBITDA loss of $197,000 from operations in the corresponding period of last year.
• Ended the quarter with approximately $2.6 million in cash and $5.4 million in working capital, as compared to working capital of approximately $3.3 million and cash on hand of approximately $2.2 million at the fiscal year-end 2025.

Other Business Highlights

In its earnings report, the company highlighted favorable regulatory developments, including the activation of the CMS BEI Medicare pathway for eligible hemp-derived CBD products and the partial rescheduling of cannabis to Schedule III last month.

The company said it has introduced a dedicated clinical healthcare channel and is actively working with healthcare organizations, oncology practices, and ACOs to support potential adoption of hemp-derived CBD products under the BEI program.

YCBD Price Action

cbdMD’s shares traded 6.97% lower at $0.76 per share at the time of writing on Friday.