CV Sciences (CVSI) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $3.0 million, down 17.5% year-over-year and 7% sequentially, reflecting lower sales volume due to regulatory pressures and a challenging market.

• Gross margin held steady at 48.6%, demonstrating effective cost control despite rising expenses.

• Operating expenses were reduced by 11.3% year-over-year and 7.9% sequentially, supporting progress toward sustainable profitability.

• Adjusted EBITDA loss was $0.1 million for Q2 2026, consistent with the prior quarter and improved from earlier periods.

• 44% of Q2 2026 net revenue came from new products launched since January 2023.

Financial highlights

• Q2 2026 revenue: $3.0 million, primarily due to a 15% drop in unit sales and regulatory headwinds.

• Gross margin was 48.6%, compared to 50.9% in the prior year and 48.9% in Q1 2026.

• Operating loss was $0.3 million, up from $0.1 million in the prior year period.

• Net loss (GAAP) was $0.78 million, compared to $0.3 million in the prior year.

• Cash balance at quarter end: $0.3 million.

Outlook and guidance

• Management anticipates continued dependence on additional investment capital to fund operations and growth.

• Strategic cost reductions are ongoing, including headcount and vendor spending cuts.

• Regulatory changes for hemp-derived products could materially impact future results; company is evaluating and preparing for compliance.

• Focus remains on cost management, margin improvement, and selective investment for long-term growth.

• Anticipates opportunities from market contraction and consolidation.