O-RAN Software Community Advances Open RAN Innovation with J and K Releases, Fostering Better Alignment with Industry Groups and Standards to Further Open RAN Adoption
SAN FRANCISCO and BONN, Germany, April 3, 2025 /CNW/ -- The O-RAN Software Community (O-RAN SC), sponsored by the O-RAN ALLIANCE (O-RAN) and operated by the Linux Foundation, announced the availability of its J and K software releases strengthening collaboration across the open RAN ecosystem. These releases, based on O-RAN specifications, enhance integration between the O-RAN SC and the OpenAirInterface (OAI), enhance integration with Intel FlexRAN ™ reference software, provide a more robust platform for RAN Intelligent Controller (RIC) application developers, and introduce an improved simulator for researchers. These achievements highlight the O-RAN SC's commitment to advancing open-source innovation in the RAN industry.
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Earnings Call Replay A recording of the call will be available through August 20, 2025. To listen to a replay of the earnings call please dial 1- 646-517-4150 or 1-888-660-6345 and provide conference replay ID 22439#. A webcast of the call will also be accessible through the investor relations section of the Company's website for an extended period of time. Subscribe to Charlotte's Web investor news. About Charlotte's Web Holdings, Inc. Charlotte's Web Holdings, Inc., a Certified B Corporation headquartered in Louisville, Colorado, is a botanical wellness innovation company and a market leader in hemp extract wellness that includes Charlotte's Web whole-plant full-spectrum CBD extracts as well as broad-spectrum CBD and cannabinoid isolates. The Company's hemp extracts have naturally occurring botanical compounds including cannabidiol ("CBD"), CBN, CBC, CBG, THC, terpenes, flavonoids, and other beneficial compounds. 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Forward-Looking Information Certain information provided herein constitutes forward-looking statements or information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements are typically identified by words such as "may", "will", "should", "could", "anticipate", "expect", "project", "estimate", "forecast", "plan", "intend", "target", "believe" and similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements are not guarantees of future performance, and readers are cautioned against placing undue reliance on forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties, and other factors which may cause actual results, levels of activity, and achievements to differ materially from those expressed or implied by such statements. The forward-looking statements contained in this press release are based on certain assumptions and analysis by management of the Company in light of its experience and perception of historical trends, current conditions, expected future development, and other factors that it believes are appropriate and reasonable. Specifically, this press release contains forward-looking statements relating to, but not limited to: organizational changes, marketing plans and operational platform upgrades, and the impact of these initiatives on retail expansion, operational efficiencies, cash flow, revenue and e-commerce monetization; expectations relating to IT upgrades, marketing optimization and operational integrations; product expansion activities and the corresponding results thereof; sales volume and gross margin expectations; anticipated timing for, and business impact of, in-house manufacturing of topical and gummy products; the impact of the Company's product innovations on product development; regulatory developments and the impact of developments on both consumer action and the Company's opportunities and operations; activities relating to, and sponsorship of, legislation to advance regulatory framework; the impact of insourcing on operating margins, capital expenditures and R&D anticipated consumer trends and corresponding product innovation; anticipated future financial results; the Company's ability to increase online traffic and demographic exposure through new products and marketing and omni-channel expansion; the impact of certain activities on the Company's business and financial condition and anticipated trajectory; continued product placement on various product channels; anticipated development of new products; the outcomes from DeFloria's clinical trials, including commercial opportunities for Charlotte's Web. The material factors and assumptions used to develop the forward-looking statements herein include, but are not limited to: expectations around cost reduction, run rate, revenue growth and cash flow for 2025 and 2026; regulatory regime changes; anticipated product development and sales; the success of sales and marketing activities; product development and production expectations; outcomes from R&D activities; the Company's ability to deal with adverse growing conditions in a timely and cost-effective manner; the availability of qualified and cost-effective human resources; compliance with contractual and regulatory obligations and requirements; availability of adequate liquidity and capital to support operations and business plans; and expectations around consumer product demand. In addition, the forward-looking statements are subject to risks and uncertainties pertaining to, among other things: supply and distribution chains; the market for the Company's products; revenue fluctuations; regulatory changes; loss of customers and retail partners; retention and availability of talent; competing products; share price volatility; loss of proprietary information; product acceptance; internet and system infrastructure functionality; information technology security; available capital to fund operations and business plans; crop risk; economic and political considerations; and including but not limited to those risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ending December 31, 2024, and other risk factors contained in other filings with the Securities and Exchange Commission available on and filings with Canadian securities regulatory authorities available The impact of any one risk, uncertainty, or factor on a particular forward-looking statement is not determinable with certainty, as these are interdependent, and the Company's future course of action depends on management's assessment of all information available at the relevant time. Any forward-looking statement in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. Except as required by applicable law, the Company assumes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. All forward-looking statements, whether written or oral, attributable to the Company or persons acting on the Company's behalf, are expressly qualified in their entirety by these cautionary statements. CHARLOTTE'S WEB HOLDINGS, INC. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (in thousands of U.S. dollars, except share amounts) Common Shares Additional Paid-in Capital Accumulated Deficit Total Shareholders' Equity Shares Amount Balance—December 31, 2024 158,009,541 $ 1 $ 328,655 $ (301,569) $ 27,087 Common shares issued upon vesting of restricted share units, net of withholding — — — — — Share-based compensation — — 187 — 187 Net loss — (6,212) (6,212) Balance— March 31, 2025 158,009,541 $ 1 $ 328,842 $ (307,781) $ 21,062 Common shares issued upon vesting of restricted share units, net of withholding 608,226 — (25) — (25) Share-based compensation — — 180 — 180 Net loss — — — (6,288) (6,288) Balance—June 30, 2025 158,617,767 $ 1 $ 328,997 $ (314,069) $ 14,929 Balance—December 31, 2023 154,332,366 $ 1 $ 327,280 $ (271,723) $ 55,558 Common shares issued upon vesting of restricted share units, net of withholding 2,895,489 — (98) — (98) Share-based compensation — 842 — 842 Net loss — (9,634) (9,634) Balance—March 31, 2024 157,227,855 $ 1 $ 328,024 $ (281,357) $ 46,668 Common shares issued upon vesting of restricted share units, net of withholding 267,187 — (20) — (20) Share-based compensation — — 237 — 237 Net loss — — — (11,057) (11,057) Balance—June 30, 2024 157,495,042 $ 1 $ 328,241 $ (292,414) $ 35,828 (1) Non-GAAP Measures – Adjusted Gross Profit, EBITDA and Adjusted EBITDA Earnings before interest, taxes, depreciation, and amortization ("EBITDA") is not a recognized performance measure under U.S. GAAP. The term EBITDA consists of net income (loss) and excludes interest, taxes, depreciation, and amortization. Adjusted EBITDA also excludes other non-cash items such as changes in fair value of financial instruments (Mark-to-Market), Share-based compensation, and impairment of assets. The term Adjusted Gross Profit consists of gross profit before inventory provision, adjusted for inventory provision, net. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, our reported financial results prepared in accordance with GAAP. The non-GAAP financial measures do not have a standardized meaning prescribed under U.S. GAAP and therefore may not be comparable to similar measures presented by other issuers. The primary purpose of using non-GAAP financial measures is to provide supplemental information that we believe may be useful to investors and to enable investors to evaluate our results in the same way we do. We also present the non-GAAP financial measures because we believe they assist investors in comparing our performance across reporting periods on a consistent basis, as well as comparing our results against the results of other companies, by excluding items that we do not believe are indicative of our core operating performance. Specifically, we use these non-GAAP measures as measures of operating performance; to prepare our annual operating budget; to allocate resources to enhance the financial performance of our business; to evaluate the effectiveness of our business strategies; to provide consistency and comparability with past financial performance; to facilitate a comparison of our results with those of other companies, many of which use similar non-GAAP financial measures to supplement their GAAP results; and in communications with our board of directors concerning our financial performance. Investors should be aware, however, that not all companies define these non-GAAP measures consistently. Adjusted Gross Profit for the three and six months ended June 30, 2025, and 2024 is as follows: Adjusted EBITDA for the three months ended June 30, 2025, and 2024 is as follows: Charlotte's Web Holdings, Inc. Statement of Adjusted EBITDA (In Thousands) Three Months Ended Six Months Ended June 30, June 30, (unaudited) (unaudited) U.S. $ Thousands 2025 2024 2025 2024 Net income (loss) $ (6,288) $ (11,057) $ (12,500) $ (20,691) Depreciation of property and equipment and amortization of intangibles 512 2,489 2,961 4,982 Interest expense 450 493 1,135 980 Income tax expense 2 (46) 2 (62) EBITDA (5,324) (8,121) (8,406) (14,791) Stock Comp 180 237 367 1,079 Mark-to-market financial instruments 1,543 (1,140) 1,669 720 Inventory Provision (17) 3,830 (4) 3,926 Adjusted EBITDA $ (3,618) $ (5,194) $ (6,374) $ (9,066) SOURCE Charlotte's Web Holdings, Inc.
