LATEST ALERTS
Charlotte’s Web managed to reduce its losses last year, despite “a challenging sales environment” caused by regulatory inaction, which has created uncertainty and confusion throughout the US cannabis and CBD industry.
The Colorado-based company, which describes itself as “the world’s leading brand by market share in the production and distribution of innovative hemp-based CBD wellness products”, saw a reduced net loss of $59.3m, compared to a net loss of $137.7m in 2021. However, it reported consolidated net revenue down by almost 23% to $74.1m for the 12 months ended 31st December 2022, due to lower direct-to-consumer (DTC) and business-to-business (B2B) sales.
