cbdMD, Inc.

cbdMD, Inc.

cbdMD, Inc. went public on the OTC Markets in 2018, raising capital to scale its portfolio of hemp-derived CBD brands, including cbdMD, Paw CBD for pets, and Bioclinic Naturals. The company focuses on broad-spectrum cannabinoid products with no THC, positioning itself for national retail distribution under the 2018 Farm Bill. Its Charlotte, North Carolina headquarters houses executive and operations teams. The firm allocates capital primarily to product R&D, digital marketing, and retail distribution infrastructure. Asset classes reduce to working capital and trademarked intellectual property. Confirmed retail partners have included CVS Health, Kroger, and select Vitamin Shoppe locations, as well as e-commerce via its own platform (per SEC filings, 2023). Geographic footprint is almost entirely US-based, with limited international wholesale via third-party distributors. Revenue fell from $47 million in fiscal 2021 to $26.6 million in fiscal 2023, reflecting market-wide CBD sector contraction and regulatory uncertainty. The company reported a net loss of $44 million for fiscal 2023. Despite the decline, the firm maintained a national distribution footprint and a recognized consumer brand. In early 2024, the company announced a reduction in workforce and a shift to a more capital-efficient operating model (per SEC filing, 2024). cbdMD's structural differentiator is its public-company structure applied to a consumer-CBD business — most direct competitors remain privately held. This enables transparency via SEC filings but subjects the firm to quarterly earnings pressure and broader equity market sentiment. The firm has not raised traditional VC or PE rounds and relies on equity markets and revenue to fund operations.