CV Sciences, Inc. Reports Fiscal Year-End 2025 Financial Results

San Diego, CA - March 26, 2026 (ACCESS Newswire) - 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 its financial results for the year and quarter ended December 31, 2025.

Fiscal 2025, Fourth Quarter 2025 and Recent Financial and Operating Highlights

“We made meaningful progress in 2025 executing against our top priorities of improving margins, reducing our cost structure, and moving the business toward sustainable profitability. Our gross margin expansion and significant reduction in operating expenses drove a substantial improvement in adjusted EBITDA, culminating in positive adjusted EBITDA in the fourth quarter,” stated Joseph Dowling, Chief Executive Officer of CV Sciences. “As we enter 2026, we are building on this momentum by further enhancing operating efficiency and driving consistent positive cash flow. At the same time, we see a compelling opportunity to accelerate growth through disciplined, strategic acquisitions that complement our existing portfolio and leverage our operational platform. We believe this balanced approach—combining near-term profitability with targeted M&A—positions CV Sciences to deliver improved financial performance and long-term shareholder value.”

Operating Results - Full Year 2025 Compared to Full Year 2024

Sales for fiscal 2025 were $13.8 million, a decrease of 12.2% from $15.7 million in 2024. The decline is driven by lower sales volume due to temporary out-of-stock issues for some of our key products and restrictive regulations at the federal level and in certain states. The total number of units sold during fiscal 2025 decreased by 12.6%, partially offset by minor increases in average sales prices. In addition, 39% of our net revenue for the year ended December 31, 2025 was from new products launched since January 1, 2023. During this time period, we launched 39 new products.

We generated an operating loss of $0.5 million in fiscal 2025 significantly reduced from $2.2 million in 2024. The lower operating loss is mostly due to reduced operating expenses across the business. We had negative adjusted EBITDA of $0.3 million for fiscal 2025, also significantly improved from $0.8 million in 2024. The improvement is mostly due to lower operating expenses.

Fourth Quarter 2025 Results

During the fourth quarter of 2025, sales increased by 1.6% to $3.3 million compared to the third quarter of 2025. The sequential increase in sales is mostly due to additional B2B revenue. We generated an operating loss of $0.1 million in the fourth quarter of 2025, compared to operating losses of $0.6 million in the fourth quarter of 2024 and $0.3 million in the third quarter of 2025. The Company had a positive adjusted EBITDA of $0.1 million in the fourth quarter of 2025, compared to negative adjusted EBITDA of $0.4 million in the fourth quarter of 2024 and $0.1 million in the third quarter of 2025.

Conference Call and Webcast

The Company will host a conference call and webcast to discuss these results today at 4:30 pm EDT/1:30 pm PDT. The webcast of the conference call will be available on the Investor Relations section of the Company's website at https://ir.cvsciences.com/news-events or directly at https://viavid.webcasts.com/starthere.jsp?ei=1754173&tp_key=c94416da11. 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. A telephone replay will be available approximately three hours after the call concludes, and will be available through Thursday, April 2, 2026, by dialing (844) 512-2921 from the U.S. or (412) 317-6671 from international locations, and entering confirmation code 13759006.

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 PubMed.gov. +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 non-cannabinoid 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 OTCMarkets.com or by visiting www.cvsciences.com.

Forward Looking Statements

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

ir@cvsciences.com

CV SCIENCES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(in thousands, except per share data)

CV SCIENCES, INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands, except per share data)

CV SCIENCES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CV SCIENCES, INC.

NON-GAAP FINANCIAL MEASURES (UNAUDITED)

We prepare our consolidated financial statements in accordance with generally accepted accounting principles for the United States (GAAP). The non-GAAP financial measures, such as net income (loss) per share and Adjusted EBITDA included in this press release are different from those otherwise presented under GAAP. We use non-GAAP measures internally to evaluate our performance and make financial and operational decisions that are presented in a manner that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. The non-GAAP financial measures exclude non-cash compensation expense for stock options. When evaluating the performance of our business and developing short and long-term plans, we do not consider share-based compensation charges. Although share-based compensation is necessary to attract and retain quality employees, our consideration of share-based compensation places its primary emphasis on overall shareholder dilution rather than the accounting charges associated with such grants. Because of the varying availability of valuation methodologies and subjective assumptions, we believe that the exclusion of share-based compensation allows for more accurate comparison of our financial results to previous periods. In addition, we believe it useful to investors to understand the specific impact of the application of the fair value method of accounting for share-based compensation on our operating results.

Adjusted EBITDA is defined by us as EBITDA (net loss plus depreciation, amortization, interest, and income tax expense, less income tax benefit, further adjusted to exclude certain non-cash expenses and other adjustments as set forth below. We use Adjusted EBITDA because we believe it more clearly highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since Adjusted EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.

We use Adjusted EBITDA in communicating certain aspects of our results and performance, including in this press release, and believe that Adjusted EBITDA, when viewed in conjunction with our GAAP results and the accompanying reconciliation, can provide investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. In addition, we believe the presentation of Adjusted EBITDA is useful to investors in making period-to-period comparison of results because the adjustments to GAAP are not reflective of our core business performance.

A reconciliation from our GAAP net loss to non-GAAP net income (loss) for the three months and year ended December 31, 2025 and 2024 is detailed below (in thousands, except per share data):

A reconciliation from our net loss to Adjusted EBITDA, a non-GAAP measure, for the three months and year ended December 31, 2025 and 2024 is detailed below (in thousands):