CV Sciences, a San Diego-based CBD manufacturer, reported $5.4 million in revenue for the fiscal quarter that ended June 30 – a massive drop from the $16.9 million it reported during the same period in 2019.
The revenue decline represents a 68% decrease from the same quarter last year, according to the company’s latest earnings report, released Thursday.
The revenue is also a decrease from the $8.3 million reported in the year’s first quarter ending March 31.
The company attributed the losses, in part, to COVID-19 and its wide-ranging impacts on business.
CV Sciences trades on over-the-counter markets under the ticker symbol CVSI.
