Latest news with #CVSciences
Yahoo
15-05-2025
- Business
- Yahoo
Q1 2025 CV Sciences Inc Earnings Call
Joseph Dowling; Chief Executive Officer, Secretary, Director; CV Sciences Inc Joerg Grasser; Chief Financial Officer; CV Sciences Inc Operator Greetings, and welcome to CV Sciences' first quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Brendan Hawkins. Thank you. You may begin. Thank you, and good afternoon, everyone. With us today with prepared remarks are CV Sciences' Chief Executive Officer, Joseph Dowling; and Joerg Grasser, Chief Financial Officer. After prepared remarks, we will take questions from the analyst community. I'd like to remind you that during this call, management's prepared remarks may contain forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated by CV Sciences at this time. When used in this call, the words anticipate, should, could, estimate, intend, expect, believe, potential, will, project and similar expressions as they relate to CV Sciences are as such forward-looking statements. Finally, please note that on today's call, management will refer to non-GAAP financial measures in which CV Sciences excludes certain expenses from its GAAP financial results. Please refer to CV Sciences' press release from just a few minutes ago for a full reconciliation of its non-GAAP performance measures to the most comparable GAAP financial measures. This afternoon, the company issued a press release announcing its financial results. Participants on this call, who may not have already done so, may wish to look at the press release as the company provides a summary of the results on this call. The press release may be found at I would like to now turn the call over to CV Sciences' Chief Executive Officer, Mr. Joseph Dowling. Joe? Joseph Dowling Thank you, Brendan. Good afternoon, everyone. Thank you for joining our call. This afternoon, we issued a press release reporting results for our first quarter ended March 31, 2025. We are pleased with our progress as we move closer to profitability and positive cash flow. Significant highlights during Q1 included. We generated revenue of $3.6 million, slightly down from $3.9 million for the fourth quarter 2024. Our Q1 gross margin of 46% represents our continued ability to achieve a healthy gross margin. We continue to maintain our number one position in the natural product retail channel and we have also increased our market share in this important sales channel as well. During Q1, we began to more fully adapt our product innovation efforts to include more non-cannabinoid products to more fully diversify our product offering. We also continue to execute on our M&A strategy and are beginning to realize some of the initial benefits from our acquisition of Elevated Softgels, especially with the in-source manufacturing of many of our products previously produced by contract manufacturers. I would like to start with a few comments on the goals, execution and implementation of our M&A strategy. We have several goals with our M&A strategy, primarily to increase our scale with greater revenue, but also to increase our cost efficiency. We are looking for opportunities to increase revenue profitably with transactions that can leverage our assets, including our brands, people, process and our distribution. We are also looking at transactions that can increase our cost efficiency, including assets that allow us to further in-source manufacturing even though we have historically outsourced the majority of our manufacturing. We believe the timing is right for us to have more control over the manufacturing side of the supply chain. Our most recent transaction of Elevated Softgels provides us with an immediate opportunity to in-source manufacturing of a significant number of our products. We expect to see improved cost efficiency and gross margin in the second half of 2025, directly from the integration of Elevated Softgels. We are also expanding the contract manufacturing capability of the Elevated facility and are investing in equipment and people to achieve this goal. Our investment in Cultured Foods achieved an exciting milestone during Q1 with the US launch of Lunar Fox, an all-new line of plant-based foods offering sustainable, vegetarian-friendly nutrition alternatives for our customers. Lunar Fox products are 100% natural, gluten-free and respond to growing demand for vegan products, a fast-growing category driven by consumers seeking alternative, healthy-conscious products. Lunar Fox products are now available at select retailers and from the company's new website at Next, on product development. We are adapting our innovation and new product development in several ways. First, we will continue to develop new cannabinoid products that adapt to the changing regulatory environment, but then also consider exciting new formats and formulations. A recent example is the recent launch of our new Fizz effervescent tablets launched in Q1 under our Aura Collection. This exciting new Fizz tablet format can be added to water or seltzer, allowing consumers to enjoy the benefits of an uplifting Fizz with a zesty lemon flavor. We are excited to have our new Fizz tablet join the Aura Collection, which also includes our Illuminate and Serene gummy products. Alongside our legacy and new cannabinoid products, we will be emphasizing and developing new non-cannabinoid products that will be positioned under our +PlusHLTH brand. We believe there are numerous innovative formats and formulations to develop for both human and pet consumption, and are hopeful to launch several new products during the balance of 2025. We are adapting to a more diversified product offering, which will include both cannabinoid and non-cannabinoid products. We will continue to innovate and launch new products that are responsive to our customers and their specific need states, including for anxiety, pain, sleep and other disorders. We will continue to develop products with strong science that support our product claims, always keeping in mind the trust and loyalty of our customers. We believe that adapting our product innovation and development will not only meet consumer demand, but will also mitigate some of the regulatory challenges to the hemp industry. However, let me be clear, we remain bullish on the US hemp and CBD category. The US CBD market is still a huge market segment. According to the Brightfield Group, the leading CBD market research firm, the CBD market alone in 2024 generated $4.4 billion in sales. Brightfield estimates that the top 20 CBD companies represent approximately 20% of the total market in 2024. In addition, Brightfield estimates that approximately 1,500 CBD companies share approximately $2 billion of the total market. Just a few years ago, Brightfield estimated that more than 3,000 CBD companies were operating in the United States. That number has been cut in half in just a few years. We believe that further market contraction represents an opportunity for CV Sciences to take market share from smaller CBD companies as the market shrinks the number of competing brands. Now moving on. Other operational objectives achieved during Q1 included: Our cost efficiency efforts continue to result in a lower overall company cost structure, with efficiency gains and cash savings in numerous areas including SG&A. Our steady and healthy gross margin of 46% in Q1 demonstrates our commitment to continuous improvement in operating a cost-efficient company. On the revenue side, our goal is to increase the scale of our company through organic growth and through our M&A strategy, as I previously discussed. Brand contraction continues to help us take market share in B2B channels as retailers continue to remove slow-moving brands. In the natural product retail channel, we are still the number one selling brand and continue to see market share concentration of the top four brands in the 60% range. Customers are sticking with or changing to brands that they know and trust, and we continue to be at the top of the list in the natural product retail channel. Our B2C sales channel continues with steady improvement. We are seeing good results in all critical B2C KPIs, including a focus on the recurring revenue from increased subscription orders. We believe that further brand contraction, increased education and consumer trust in our company and strong brand will all help grow the B2C channel. On regulatory matters, we recognize that numerous states have passed legislation that are unfavorable to the CBD category. We will continue to be involved in lobbying efforts to advocate for hemp-based products, including to push Congress and state governments to make progress on sensible regulations. At the federal level, we would like to see rescheduling of cannabis to Schedule three status and would also like to see banking reform. Both of these reforms would help the hemp industry. At the state level, we will continue to fight for a sensible and consistent framework in as many states as possible. A sensible framework will help advance our industry and would create an environment where quality companies and products are trusted politically and by consumers to produce safe and quality products in a responsible way. But we are not standing still. We recognize the regulatory challenge and are adapting to this reality. We are positioning ourselves to compete in the current environment in spite of these regulatory challenges. We are doing this in numerous ways, including by streamlining our operations and increasing our cost efficiency to align the company for growth and profitability. We have made great progress in structuring a lean, cost-efficient organization that is positioned to leverage our company's strengths and assets. We will continue to use our strong operating platform to utilize an M&A strategy to acquire assets that add revenue, increase our scale and provide operating leverage and efficiency. We will continue to evaluate inbound and outbound M&A opportunities that support our strategic plan of achieving these goals. We are making good progress. Let me pause now and I will turn the call over to Joerg. Joerg Grasser Thank you, Joe. During the first quarter of 2025, we made solid improvements on our cost savings initiatives. We generated EBITDA of $131,000 and an adjusted EBITDA loss of $311,000. We maintained strong gross margins of 46% and continued to reduce our operating expenses. Over the last several quarters, we have rightsized our cost structure without significant productivity losses, and we are well positioned for operating leverage as we continue to increase revenues and add additional businesses to our platform, all with the main goal of creating shareholder value. Our first quarter revenue came in at $3.6 million, compared to $3.9 million in the fourth quarter of 2024 and compared to $4 million in the first quarter of 2024. The sequential revenue decline is mostly due to lower unit sales by 8% in the first quarter of 2025 compared to the fourth quarter of '24. Our lower unit sales are mostly driven by increased state regulations and the out-of-stock impact of certain of our key products. We were temporarily out of stock with certain of our products because of manufacturing delays from two of our CMOs. We have mostly worked through these challenges with our manufacturing partners at this point. However, this further supports our strategy to further in-source manufacturing of our products. Our new product development continues to be successful and our team is doing an effective job on executing on our go-to-market strategy. New products introduced since the beginning of 2023 represented 35% of our revenue for the first quarter 2025, which shows the importance of new product innovation. The overall CBD market continues to be very fragmented and competitive. We don't see this changing anytime soon, but we see further brand consolidation and brand contraction, which are opportunities to further increase our market share and revenue base. Our direct-to-consumer business continues to perform well and associated sales represented 44.8% of total revenue in the first quarter 2025, compared to 44.2% a year earlier and 45.7% in the fourth quarter of 2024. On a sequential basis, our B2C revenue declined by 9%, mostly due to seasonality around the holiday season for this channel. Gross margin for the first quarter of 2025 was 46%, a nice increase from our gross margin of 43.2% in the fourth quarter of 2024 and compared to 46.3% for the first quarter of 2024. Our sequential improvement in gross margin in the first quarter of 2025 compared to the fourth quarter of 2024 is mostly due to additional cost savings, changes in our product mix and margin improvement of our recent acquisitions. We are also working on further cost efficiencies, especially on in-sourcing some of our key products. As Joe mentioned, we made very good progress on the in-sourcing of our softgel and tinctures used during 2025. We expect that we will recognize associated cost savings in our P&L in the second half of 2025 when we begin selling our in-house manufactured products. SG&A expense for the first quarter was $2.1 million, down from $2.4 million a year ago, representing a decrease of 12%. SG&A expense also decreased on a sequential basis by 7% from $2.3 million in the fourth quarter of 2024. The decrease in SG&A expense is mostly due to lower digital marketing expense and lower professional and legal fees. For the first quarter 2024, we generated an operating income of $11,000, compared to an operating loss of $0.6 million for the first quarter and the fourth quarter of 2024. The improvement was mostly due to the benefit of the reversal of accrued payroll taxes of $0.5 million associated with the RSU released to our founder in 2019 and other cost savings initiatives. Our adjusted EBITDA loss for the first quarter was $0.3 million, improved from $0.4 million in the fourth quarter of 2024. On a GAAP basis, we reported a first quarter 2025 net loss of $0.1 million, compared to a net loss of $0.7 million in the fourth quarter of 2024. Now let me turn to our balance sheet. We ended the first quarter of 2025 with $0.8 million of cash, compared to $0.5 million at the end of fiscal 2024. In February 2025, we entered into a financing agreement with an institutional investor and brought in $1.2 million of additional cash to help us with our growth strategy. We also repaid our prior note payable to Streeterville and recognized a gain on early debt extinguishment of $37,500. During the first quarter 2025, we were close to our goal of generating positive operating cash and used cash from operations of $0.1 million, improved from a cash usage of $0.2 million in the fourth quarter of 2024 and $0.5 million in the first quarter of 2024. We continue to manage our overall cash position with improved cash collections on our outstanding AR and daily management of our inventory and vendor payables. We continue to adjust our cost structure to be in line with our expected revenue with the overarching goal of generating positive operating cash on a continuous basis. We anticipate some modest cash usage in the very near future until we recognize the synergies of our acquisitions and generate positive cash flow in the second half of 2025. Our inventory was $4.4 million at the end of the first quarter of 2025, compared to $4.9 million at year-end, as we continued to focus on efficient cash management and converting our raw material into cash. Our raw materials mostly consist of hemp oil, which we previously purchased and continue to convert into finished products. We have fully consolidated the results of Cultured Foods and Elevated Softgels into our financials, and we anticipate realizing associated synergies of these two acquisitions in the second half of 2025. With our improved balance sheet and our reduced cost structure in place, we have the financial flexibility to continue executing our growth plan and look forward to improving trends going forward. Now I will turn the call back over to Joe. Joseph Dowling Joerg, thank you. We are working diligently to align our company to the scale of the CBD industry and we are actively adapting our business model in several ways. First, to increase revenue through non-cannabinoid innovation that will diversify our product offering and allow for new revenue and increased distribution. Second, as I discussed earlier, we have begun the process of in-sourcing manufacturing of many of our products. During the second half of 2025, we expect to increase our gross margin through our in-source manufacturing strategy, which will lead to greater cost efficiency and profitability. And third, our M&A strategy that is focused on both large and small complementary consumer product companies that will add revenue and allow for operating synergy to increase sales and profitability. We also continue to look at opportunities to further in-source manufacturing to achieve greater cost efficiency and gross margin. We believe that CV Sciences is a strong consumer product platform, and we know that we have significant room to increase our operating leverage through greater scale, leading to a company that can achieve strong profitability and shareholder value. We are optimistic about the long-term opportunity for our company to remain a competitive force in the health and wellness industry. We continue to make tough decisions to ensure that we are focused on adding long-term shareholder value. We are an experienced, dedicated group of employees that are focused on making the best innovative products that meet the needs of our customers at value. Now I will turn the call back over to the operator for any calls from the analyst community. Operator At this time we'll be conducting a question-and-answer session. (Operator Instructions) There were no questions from the analyst community at this time. I'd like to turn the call back over to Joseph Dowling for closing comments. Joseph Dowling Thank you. I would like to thank everyone for being a supporter of CV Sciences and our great products. We look forward to speaking again soon. Thank you for your time this afternoon. Operator This concludes today's conference. You may disconnect your lines at this time. And we thank you for your participation. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
15-05-2025
- Business
- Yahoo
CV Sciences Inc (CVSI) Q1 2025 Earnings Call Highlights: Navigating Challenges with Strategic ...
Release Date: May 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. CV Sciences Inc (CVSI) maintained a healthy gross margin of 46% in Q1 2025, demonstrating cost efficiency. The company continues to hold the number one position in the natural product retail channel, with increased market share. CV Sciences Inc (CVSI) is diversifying its product offerings by including more non-cannabinoid products, which could mitigate regulatory challenges. The acquisition of Elevated Soft Gels is expected to improve cost efficiency and gross margin through in-sourced manufacturing. The launch of new products, such as the Lunar Fox line and fizz effervescent tablets, shows successful product innovation and adaptation to consumer demands. Revenue for Q1 2025 was $3.6 million, a decline from $3.9 million in Q4 2024, primarily due to lower unit sales. The company faced temporary out-of-stock issues with key products due to manufacturing delays from contract manufacturers. Increased state regulations have negatively impacted unit sales, highlighting ongoing regulatory challenges. The direct-to-consumer (B2C) revenue declined by 9% sequentially, attributed to seasonality around the holiday season. Despite improvements, CV Sciences Inc (CVSI) reported a net loss of $0.1 million for Q1 2025, indicating ongoing financial challenges. Warning! GuruFocus has detected 3 Warning Signs with CVSI. Q: Can you provide an overview of CV Sciences' financial performance for Q1 2025? A: Joseph Dowling, CEO, reported that CV Sciences generated $3.6 million in revenue, slightly down from $3.9 million in Q4 2024. The company maintained a gross margin of 46% and is moving closer to profitability and positive cash flow. The focus remains on increasing revenue and cost efficiency through M&A strategies and product innovation. Q: What are the key strategic goals for CV Sciences' M&A strategy? A: Joseph Dowling, CEO, stated that the primary goals are to increase scale with greater revenue and cost efficiency. The company is looking for transactions that leverage its assets, including brands, people, processes, and distribution, and that allow for further insourcing of manufacturing to improve cost efficiency and gross margin. Q: How is CV Sciences adapting its product innovation efforts? A: Joseph Dowling, CEO, explained that the company is diversifying its product offerings to include more non-cannabinoid products under the Plus Health brand. This includes the launch of new products like the Lunar Fox line of plant-based foods and the Aura collection's fizz effervescent tablets. The aim is to meet consumer demand and mitigate regulatory challenges in the hemp industry. Q: What challenges did CV Sciences face in Q1 2025, and how are they being addressed? A: The CFO noted that the company faced lower unit sales due to increased state regulations and temporary out-of-stock situations caused by manufacturing delays. These challenges are being addressed by insourcing manufacturing to reduce dependency on contract manufacturers and improve cost efficiency. Q: What are the expectations for CV Sciences' financial performance in the second half of 2025? A: The CFO indicated that CV Sciences expects to see improved cost efficiency and gross margin from the integration of elevated soft gels and other acquisitions. The company anticipates generating positive cash flow and realizing synergies from these acquisitions in the second half of 2025. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Associated Press
09-05-2025
- Business
- Associated Press
CV Sciences, Inc. to Announce First Quarter 2025 Results on May 14, 2025
SAN DIEGO, CA / ACCESS Newswire / May 9, 2025 / CV Sciences, Inc. (OTCQB:CVSI) (the 'Company', 'CV Sciences', 'our', 'us' or 'we'), a preeminent consumer wellness company specializing in hemp extracts and other proven, science-backed natural ingredients and products, today announced that it will release financial results for the first quarter ended March 31, 2025, after the stock market closes on Wednesday, May 14, 2025. The Company will hold a conference call with the investment community at 1:00 p.m. Pacific Time (4:00 p.m. Eastern Time) that same day. The webcast of the conference call will be available on the Investor Relations section of the Company's website at or directly at The webcast will be archived for approximately 30 days. Investors interested in participating in the live call can also dial (877) 407-0784 from the U.S. or international callers can dial (201) 689-8560. Please dial the conference telephone number 15 minutes prior to the start time due to increased demand for conference calls. A telephone replay will be available approximately two hours after the call concludes and will be available through Wednesday, May 21, 2025, by dialing (844) 512-2921 from the U.S. or (412) 317-6671 from international locations, and entering confirmation code 13753631. About CV Sciences, Inc. CV Sciences, Inc. (OTCQB: CVSI) is a consumer wellness company specializing in nutraceuticals and plant-based foods. The Company's hemp extracts and other proven, science-backed, natural ingredients and products are sold through a range of sales channels from B2B to B2C. The Company's +PlusCBD™ branded products are sold at select retail locations throughout the U.S. and are the top-selling hemp-extract brand in the natural products market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. With a commitment to science, PlusCBD™ product benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on +PlusCBD™ was the first hemp extract supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. The Company also produces cannabinoid-free supplements under its +PlusHLTH™ brand, with targeted formulations to optimize health, improve performance, and increase vitality. Our Cultured Foods™ brand provides a variety of 100% plant-based food products that are distributed primarily in the EU and other select markets. Cultured Foods™ caters to individuals seeking vegan, gluten-free, or flexitarian options for a wholesome and satisfying culinary experience. In addition, the Company owns Elevated Softgels, a leading manufacturer of encapsulated softgels and tinctures for the supplement and nutrition industry. CV Sciences, Inc. has primary offices and facilities in San Diego, California, Grand Junction, Colorado, and Warsaw, Poland. Additional information is available from or by visiting FORWARD-LOOKING DISCLAIMER This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risk and uncertainties. CV Sciences does not undertake any obligation to publicly update any forward-looking statements, except as required by applicable law. As a result, investors should not place undue reliance on such forward-looking statements. CONTACT INFORMATION: [email protected] SOURCE: CV Sciences, Inc. press release
Yahoo
28-03-2025
- Business
- Yahoo
CV Sciences Inc (CVSI) Q4 2024 Earnings Call Highlights: Strategic Growth Amidst Market Challenges
Release Date: March 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. CV Sciences Inc (CVSI) achieved a gross margin improvement from 44.3% in 2023 to 45.6% in 2024, indicating better cost management. The company successfully launched the +PlusHLTH line of cannabinoid-free supplements, which has been well-received by consumers and retailers. CV Sciences Inc (CVSI) expanded its product line with new CBD pet products and entered a strategic relationship with Chewy, enhancing its distribution channels. The acquisition of cultured foods and elevated softgels is expected to bring increased scale, distribution, and cost efficiency to the company. CV Sciences Inc (CVSI) maintained its revenue at $15.7 million in a challenging market, showing resilience compared to competitors experiencing declines. Year-over-year revenue slightly decreased from $16 million in 2023 to $15.7 million in 2024, reflecting challenges in the market. The company reported an operating loss of $0.6 million for the fourth quarter of 2024, indicating ongoing financial challenges. CV Sciences Inc (CVSI) ended the fourth quarter of 2024 with a reduced cash position of $0.5 million compared to $1.3 million at the end of 2023. The regulatory environment remains challenging, with the absence of federal regulation leading to costly compliance issues. Despite cost reductions, the company continues to face a fragmented and competitive CBD market, which may impact future growth. Warning! GuruFocus has detected 3 Warning Signs with CVSI. Q: Can you provide an overview of CV Sciences' financial performance for the fourth quarter and full year 2024? A: Joseph Dowling, CEO, highlighted that CV Sciences generated $15.7 million in revenue for fiscal 2024, slightly down from $16 million in 2023. The gross margin improved to 45.6% from 44.3% in 2023. Operating expenses were reduced by 5.4% to $9.4 million. The company maintained its position as the number one selling hemp extract brand in the natural product retail sales channel. Q: What strategic initiatives did CV Sciences undertake in 2024 to drive growth? A: Joseph Dowling, CEO, mentioned that the company focused on product innovation, cost efficiency, and M&A activities. They launched the +PlusHLTH line of cannabinoid-free supplements and expanded the +PlusCBD pet line. The acquisition of cultured foods and elevated softgels was aimed at increasing scale and cost efficiency. Q: How did CV Sciences perform in terms of cost efficiency and profitability? A: Joerg Grasser, CFO, reported that the company improved its gross margins from 44.3% in 2023 to 45.6% in 2024. Operating expenses were reduced, and the company achieved an adjusted EBITDA loss of $0.4 million in Q4 2024, an improvement from $0.5 million in Q4 2023. The focus remains on achieving positive cash flow by the second half of 2025. Q: What are the company's plans for future growth and market expansion? A: Joseph Dowling, CEO, stated that CV Sciences plans to continue its M&A activities, focusing on synergistic acquisitions. The company aims to insource production of softgel and tincture products by the end of 2025 to improve cost structure and margins. They are also expanding their plant-based product line, Lunar Fox, in the US market. Q: How is CV Sciences addressing regulatory challenges in the hemp and cannabis industries? A: Joseph Dowling, CEO, emphasized the company's active involvement with advocacy groups like the US Hemp Roundtable to push for sensible legislation. The absence of federal regulation poses challenges, but CV Sciences remains committed to working with federal and state agencies to advance the industry. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
26-03-2025
- Business
- Yahoo
CV Sciences Unveils Lunar Fox Food Co., an All-New Line of Plant-Based Foods
The innovative product line offers a unique choice of plant-based, 100% natural alternatives to the foods everyone loves. SAN DIEGO, CA / / March 26, 2025 / CV Sciences, Inc. (OTCQB:CVSI) (the "Company", "CV Sciences", "our", "us" or "we"), a preeminent consumer wellness company specializing in hemp extracts and other proven, science-backed natural ingredients and products, today announced the launch of Lunar Fox™ Food Co., an all-new line of plant-based foods, offering sustainable, vegetarian-friendly nutrition alternatives for our customers. Lunar Fox™ Food Co. products are 100% natural, gluten free and respond to growing demand for vegan products, a fast-growing category driven by consumers seeking alternative, health-conscious products. Lunar Fox™ Food Co. products are now available at select retailers and from the Company's website at The new product line includes: CHEDDRLY MAC!, a vegan mac and cheese combining gluten-free pasta with our creamy, dairy-free Cheddrly! cheese alternative for a rich, satisfying experience; CHEDDRLY!, a plant-based, dairy-free cheese substitute delivering rich texture and the cheesy flavor you love; WHISKED!, this versatile egg substitute is your go-to solution for creating savory omelets and delicious eggless bakes and quiches - all while embracing a sustainable, plant-powered lifestyle; BAKED!, this dairy-free egg alternative is specifically crafted to deliver the structure, moisture, and consistency you need for flawless baked goods; MANGIA!, a plant-based meatless alternative infused with a vibrant blend of all-natural Italian seasonings, bringing the heart of traditional Italian cuisine to your kitchen; FIESTA!, a plant-based meatless alternative infused with bold Mexican flavors, featuring a zesty blend of all-natural spices that bring your favorite dishes to life; and BOLOGNESE!, a plant-based Italian sauce substitute featuring hearty Mangia! meatless crumbles, tomatoes, and a perfect blend of all-natural Italian spices. "We are thrilled to launch Lunar Fox™ Food Co., our plant-based product line that will bring convenient, sustainable and nutritious food alternatives into the US natural product channel. The global vegan food market is expected to grow 5 times by 2030 with millennials and flexitarians as the driving force behind soaring vegan foods sales," said Joseph Dowling, CEO of CV Sciences. "We continue to develop new and innovative products to meet the demand and improve the health and well-being of consumers." The launch of our Lunar Fox™ Food Co. line adds to CV Sciences' growing portfolio of premium products designed to improve health and maximize well-being. The Company has recently launched +PlusHLTH™ cannabinoid-free supplements, +PlusCBD™ Extra Support Gummies, +PlusCBD™ Reserve gummies, and +PlusCBD™ pet products. For more information, please visit About CV Sciences, Inc. CV Sciences, Inc. (OTCQB:CVSI) is a consumer wellness company specializing in nutraceuticals and plant-based foods. The Company's hemp extracts and other proven, science-backed, natural ingredients and products are sold through a range of sales channels from B2B to B2C. The Company's +PlusCBD™ branded products are sold at select retail locations throughout the U.S. and are the top-selling hemp-extract brand in the natural products market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. With a commitment to science, PlusCBD™ product benefits in healthy people are supported by human clinical research data, in addition to three published clinical case studies available on +PlusCBD™ was the first hemp extract supplement brand to invest in the scientific evidence necessary to receive self-affirmed Generally Recognized as Safe (GRAS) status. The Company also produces cannabinoid-free supplements under its +PlusHLTH™ brand, with targeted formulations to optimize health, improve performance, and increase vitality. Our Cultured Foods™ brand provides a variety of 100% plant-based food products that are distributed primarily in the EU and other select markets. Cultured Foods™ caters to individuals seeking vegan, gluten-free, or flexitarian options for a wholesome and satisfying culinary experience. In addition, the Company owns Elevated Softgels, a leading manufacturer of encapsulated softgels and tinctures for the supplement and nutrition industry. CV Sciences, Inc. has primary offices and facilities in San Diego, California, Grand Junction, Colorado, and Warsaw, Poland. Additional information is available from or by visiting Contact Information:855-758-7223wholesale@ SOURCE: CV Sciences, Inc. View the original press release on ACCESS Newswire Sign in to access your portfolio
