Charlotte’s Web boosts comparable sales for first time in years

LOUISVILLE — Louisville-based CBD company Charlotte’s Web Holdings Inc. (TSX: CWEB) increased its year-over-year revenue total in the first quarter of 2025 for the first time in more than three years.

On another positive note, CW has inked a deal for a nationwide sales rollout at more than 400 Whole Foods locations that’s expected to begin next month. 

Still, investors appeared less than enthused during early trading Wednesday. Charlotte’s Web stock price was 94 cents at 9:15 a.m., down 1.58%.

Charlotte’s Web posted first-quarter net revenue of $12.3 million, up from $12.1 million in the same period last year. 

The company trimmed its net loss to $6.2 million in the most-recent period from a net loss of $9.7 million in the first quarter of 2024.

“Following three sequential quarters of improvement in 2024, Q1 delivered our first year-over-year revenue growth since 2021 – validating the transformation we initiated 18 months ago,” Charlotte’s Web CEO Bill Morachnick said in a prepared statement. “Our upgraded e-commerce platform is converting more visitors, and new digital storefronts on Amazon, TikTok Shop, and Faire are widening our reach. An upcoming nationwide rollout with Whole Foods Market will strengthen our retail footprint.

“Operationally, we commenced initial in–house gummy production and, as part of our disciplined cost agenda, we mutually concluded our promotional rights agreement with MLB and associated costs. Coupled with robust innovation — including cannabinoid isolates and our new functional mushroom gummy line — we believe these initiatives position the Company to deliver top and bottom-line growth for 2025 and beyond.”

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