Charlotte’s Web trims loss despite lower sales
LOUISVILLE — Charlotte’s Web Holdings Inc. (TSE: CWEB) (OTCQX: CWBHF) had lower year-over-year sales in the first quarter of 2023, but the CBD products company was able to more than halve its net loss.
The company posted a net loss of $2.9 million on sales of $17 million in the most-recent quarter, compared with a net loss of $8.6 million on sales of $19.4 million in the first quarter of 2022.
CW laid blame for the revenue slippage on lower oil-tincture sales volume.
“In the first quarter, we maintained prudent cost controls to balance softness in the CBD category due to the unregulated…
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