cbdMD Generates $4.6 Million of Revenue for the 3rd Quarter

About this update from Cbdmd, Inc.

Announces Oasis Expands into Multiple New States Charlotte, North Carolina--(Newsfile Corp. - August 14, 2025) - cbdMD, Inc. (NYSE American: YCBD), one of the nation's leading and most highly trusted and recognized CBD companies, and operator of the leading CBD brands cbdMD and Paw CBD, and Herbal Oasis today announced our financial results for the third quarter of fiscal year ended September 30, 2025. The Company delivered $4.6 million in revenue for the third quarter, down from $5.2 million in the prior year period. Operating loss increased from $0.4 million to $0.9 million. "While our third quarter results were not up to our standard, we have completed a major overhaul to our marketing team and digital designed to reverse our multi-year revenue slide," said Ronan Kennedy, CEO of cbdMD. "These changes are already bearing fruit. We are encouraged by the trends that started in July and believe we are on the right path to revenue growth and can get back to break even in near future. Our beverage brand, Oasis, continues to provide exciting growth potential as the ecommerce business started to scale at much quicker pace during July. We have expanded the distribution of Oasis products to 7 states as of August 14, 2025. Our distribution pipeline continues to grow and we are adding territories and retailers monthly. Regulatory activity in recent months has been markedly higher than usual, spanning multiple states as well as the federal level. cbdMD continues to collaborate with industry associations, engage directly with state legislators, and mobilize customers to ensure elected officials understand the economic and consumer implications of proposed legislation. However, shifting regulations in several states have created uncertainty for many of our wholesale partners, resulting in revenue impacts. We are encouraged by recent positive developments at the national level, including farm bill progress and statements from the White House regarding cannabis scheduling. We believe that heightened regulatory scrutiny will ultimately favor brands with the compliance expertise and quality systems needed to thrive long term. In parallel, we expect this environment to drive further industry consolidation-an opportunity we are well positioned to capture, particularly given the increased M&A interest we have seen since the conversion and elimination of our Series A Preferred stock. Highlights for the Third Quarter of Fiscal 2025 and Strategic Updates Financial Highlights from our Third Quarter of Fiscal Year 2025: We will host a conference call at 4:20 p.m., Eastern Time, on Thursday, August 14, 2025, to discuss our June 30, 2025, third fiscal quarter and year to date fiscal 2025 financial results and business progress. CONFERENCE CALL DETAILS   About cbdMD, Inc. cbdMD, Inc. (NYSE American: YCBD) is one of the leading and most highly trusted and most recognized cannabidiol (CBD) brands with a comprehensive line of U.S. produced, THC-free 1 CBD products, and an array of Farm Act compliant Delta 9 products. Our Paw CBD brand of pet products includes veterinarian-formulated products, our ATRx brand features functional mushroom products. In addition, we operate Herbal Oasis, a premium, award winning THC-infused social seltzer that blends cannabinoids and nootropic mushrooms to deliver a fast-acting, functional beverage made for presence and connection. With an alcohol-free formula and wellness-forward ingredients, Oasis invites a better way to drink-one rooted in clarity, balance, and joy. To learn more about cbdMD and our comprehensive line of U.S. grown, THC-free 1 CBD and Full Spectrum products as well as our other brands, please visit www.cbdmd.com , www.pawcbd.com , ATRxlabs.com , or Herbaloasis.com , follow cbdMD on Instagram and Facebook, or visit one of the thousands of retail outlets that carry cbdMD's products. Forward-Looking Statements This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified using words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict. You are urged to carefully review and consider any cautionary statements, including but not limited to expectations on our ability to continue as a going concern, increasing our revenues, continued cost reductions, potential need for additional working capital, regaining compliance with NYSE American Continued Listing Standards, continued listing on the NYSE American, future profitability, development and sales of new products, and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2024 as filed with the Securities and Exchange Commission (the "SEC") on December 17, 2024, Quarterly Report on Form 10-Q for the period ended March 31, 2025 filed with the SEC on May 15, 2025, and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release. 1 THC-free is defined as below the level of detection using validated scientific analytical methods. Non-GAAP Financial Measures This press release includes a financial measure that excludes the impact of certain items and therefore has not been calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). cbdMD, Inc. has included adjusted loss from operations because management uses this measure to assess operating performance in order to highlight trends in our business that may not otherwise be apparent when relying on financial measures calculated in accordance with GAAP. The adjusted operating loss has not been prepared in accordance with GAAP. This non-GAAP financial measure should not be considered as an alternative to, or more meaningful than, net loss from operations as an indicator of our operating performance. Further, this non-GAAP financial measure, as presented by cbdMD, Inc., may not be comparable to similarly titled measures reported by other companies. cbdMD, Inc. has attached to this press release a reconciliation of this non-GAAP financial measure to its most directly comparable GAAP financial measure. cbdMD, INC. CONDENSED CONSOLIDATED BALANCE SHEETS JUNE 30, 2025 AND SEPTEMBER 30, 2024 (Unaudited)   cbdMD, INC. CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2025 and 2024 (unaudited)   cbdMD, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2025 and 2024 (unaudited)    cbdMD, INC. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED JUNE 30, 2025 and 2024 (unaudited)   cbdMD, Inc. SUPPLEMENTAL FINANCIAL INFORMATION FOR THE THREE AND NINE MONTHS ENDED JUNE 30, 2025 and 2024 (unaudited)   Contacts: Investors: cbdMD, Inc. Ronan Kennedy Chief Executive Officer and Chief Financial Officer [email protected] (704) 445-3064 To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262516

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