Charlotte’s Web posts big sales, profit gains in 2018

Boulder, Colorado-based Charlotte’s Web Holdings reported revenue for 2018 of $69.5 million, a 74% increase over 2017.

Full-year profit for the manufacturer of hemp-derived CBD products increased 57% to $11.8 million.

For the fourth quarter ended Dec. 31, 2018, revenue totaled $21.5 million, up 71% over the prior-year period.

Fourth-quarter profit grew 33% to $3.2 million.

The company continues to expand its presence in national retail chains, surpassing 4,000 locations where Charlotte’s Web products may be purchased.

Charlotte’s Web trades on the Canadian Securities Exchange under the ticker CWEB.

For more details on Charlotte’s Web’s latest earnings results, click here.