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Reversal Off $6.21 Boosts Charlotte’s Web Holdings Inc (OTCQX: CWBHF)

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Charlotte’s Web Holdings Inc (CSE: CWEB; OTCQX: CWBHF) has seen a significant decline along with the rest of the cannabis sector in terms of stock price but the Company has continued to grow posting organic consolidated year-over-year revenue growth of 41.8% in November.

Currently trading at just over $6 USD per share Charlotte’s Web Holdings is cheaper niow than its ever been and the stock trades at a fraction of the $24 + USD It commanded this time last year.

Charlotte’s Web Holdings Inc  (CSE: CWEB; OTCQX: CWBHF) bills itself as the market leader in the production and distribution of innovative hemp-based cannabidiol (“CBD”) wellness products. Founded by the Stanley Brothers, the Company’s premium quality products start with proprietary hemp genetics that are responsibly manufactured into whole-plant hemp extracts naturally containing a full spectrum of phytocannabinoids, including CBD, terpenes, flavonoids and other beneficial hemp compounds. Charlotte’s Web product categories include human consumables (tinctures, capsules, and gummies, topicals, as well as pet products. Shares of Charlotte’s Web trade on the Toronto Stock Exchange (TSX) under the symbol “CWEB” and are quoted in U.S. Dollars in the United States on the OTCQX under the symbol “CWBHF”.

Microcapdaily has been reporting on Charlottes web for a long time noting in November 2018 – Currently trading at a $165 million market valuation Charlotte’s Web has $10.7 million in the treasury, is debt free and has fast growing sales reporting $17,217,000 for the 3 months ended June 30, 2018 up from $9,059,000 for the same period last year. Charlotte’s Web is a really exciting Company; they are the market leader in the production and distribution of innovative hemp-based cannabidiol (“CBD”) wellness products that has recently surpassed 3000 retail locations across the United States.

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CWBHF

In November Charlottes web reported financial results for the third quarter ended September 30, 2019. All amounts are expressed in United States dollars. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures. Organic consolidated year-over-year revenue growth of 41.8% to $25.1 million.l B2C ecommerce sales increased 38.7%, B2B retail sales increased 66.4% Adjusted EBITDA $0.7 million, 2.8% of consolidated revenue reflecting infrastructure build $35M cash and $96M working capital.

Deanie Elsner, Chief Executive Officer of Charlotte’s Web. stated “In an increasingly crowded, noisy and confusing CBD market, brands matter, and Charlotte’s Web is the most trusted hemp extract in the world. Consumers are becoming more informed about product ingredients, production quality, and variances between CBD isolate and full spectrum hemp extract efficacy. Consumer education is increasing and a 68% year-over-year increase in traffic through our online store drove Q3 B2C sales to new highs. As the CBD category’s flagship brand, we saw a similar 66% increase in sales pull into our B2B segment which includes the food/drug/mass (“FDM”) and natural health retail channels. This helped drive Q3 growth to 42% year-over-year. The majority of our FDM channel partners to only sell CBD topicals while awaiting legal and regulatory clarity from the U.S. Food and Drug Association (“FDA”). Topicals account for less than 15% of our sales at independent stores that carry both our topical and ingestible CBD product lines. This indicates the potential revenue catalyst of a broad adoption of ingestible products within the FDM channel. We are prudently investing in the expansion of our production and distribution capacities as planned, ahead of anticipated FDA regulatory clarity that could enable wider adoption of our product portfolio. We remain hopeful that broad political support will help drive quick regulatory resolutions in 2020.”

In the third quarter Kroger Co., America’s largest grocery retailer, expanded distribution of Charlotte’s Web products into five new states for a total of 22 states and 1,350 store locations. Subsequent to the quarter, Kroger has further expanded the distribution increasing the total to 1,497 locations. Vitamin Shoppe, an omni-channel specialty retailer of nutritional products, commenced selling the new line of Charlotte’s Web CBD gummies in 738 stores across 45 states in Q3. Combined, Charlotte’s Web’s largest FDM retail partners expanded by 787 locations selling product during the quarter. In addition, several smaller regional chains began selling Charlotte’s Web products through a combined total of 296 new doors.

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Currently trading at the bottom of its range Charlotte’s Web has $34.9 million in the treasury, is debt free and has fast growing sales reporting $25mm for the 3 months ended September 10, 2019 up from $17mm for the same period last year. Charlotte’s Web is a really exciting Company; they are the market leader in the production and distribution of innovative hemp-based cannabidiol (“CBD”) wellness products that has recently surpassed 9,000 doors carrying Charlotte’s Web™ products. We will be updating on Charlotte’s Web when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Charlotte’s Web.

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Disclosure: we hold no position in Charlotte’s Web either long or short and we have not been compensated for this article.

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