YCBD on NYSE

cbdMD, Inc.

CbdMD, Inc. is an American perfumes company, incorporated in North Carolina.1 It is headquartered in Charlotte, North Carolina.1 Its shares trade on NYSE under the symbol YCBD.1

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Last updated Oct 20, 2026.

Overview

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  • TickerYCBD on NYSE1
  • IndustryPerfumes, Cosmetics & Other Toilet Preparations1
  • HeadquartersCharlotte, North Carolina1
  • Incorporated inNC2
  • Business address8845 Red Oak Boulevard, Charlotte, Nc 282172
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

62.4%Gross margin3
-11.3%Operating margin3
-10.6%Net margin3
-1.5%Revenue growth, 20253
-28.2%Return on equity3
-$1.6MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue38¢$7.2M
  • Other costs62¢$12.0M

Out of $19.2M in revenue.3 The company lost money this year.

Financial statements

Revenue456783$19.2M in 2025−19% since 2019
0$20.0M$40.0M$60.0M2019: $23.7M$23.7M20192020: $41.9M$41.9M2020+77%2021: $44.5M$44.5M2021+6%2022: $35.4M$35.4M2022−20%2023: $24.2M$24.2M2023−32%2024: $19.5M$19.5M2024−19%2025: $19.2M$19.2M2025−1%
Gross profit456783$12.0M in 2025−18% since 2019
0$10.0M$20.0M$30.0M2019: $14.5M$14.5M20192020: $26.4M$26.4M2020+82%2021: $30.0M$30.0M2021+14%2022: $22.3M$22.3M2022−26%2023: $15.0M$15.0M2023−33%2024: $12.0M$12.0M2024−20%2025: $12.0M$12.0M2025−0%
Operating income456783-$2.2M in 2025−85% since 2019
-$80.0M-$60.0M-$40.0M-$20.0M02019: -$14.8M-$14.8M20192020: -$17.6M-$17.6M2020+19%2021: -$19.6M-$19.6M2021+12%2022: -$78.3M-$78.3M2022+299%2023: -$22.5M-$22.5M2023−71%2024: -$3.3M-$3.3M2024−85%2025: -$2.2M-$2.2M2025−35%
Net income456783-$2.0M in 2025−96% since 2019
-$75.0M-$50.0M-$25.0M0$25.0M2019: -$51.4M-$51.4M20192020: $12.6M$12.6M20202021: -$23.4M-$23.4M20212022: -$70.1M-$70.1M2022+200%2023: -$22.9M-$22.9M2023−67%2024: -$3.7M-$3.7M2024−84%2025: -$2.0M-$2.0M2025−45%

Every line of the income statement as filed: the last 2 fiscal years, latest first.3

Period ending2025-09-302024-09-30
Gross Sales$19.2M$19.9M
Allowances-$210-$440.2K
Total Net Sales$19.2M$19.5M
Cost of sales$7.2M$7.5M
Gross Profit$12.0M$12.0M
Operating expenses$14.1M$15.3M
Loss from operations-$2.2M-$3.3M
Decrease of contingent liability$0$74.6K
Increase in fair value of convertible debt$87.4K-$429.8K
Interest income (expense)$34.3K-$29.5K
Loss before provision for income taxes-$2.0M-$3.7M
Benefit (expense) for income taxes$0$0
Net Loss-$2.0M-$3.7M
Preferred dividends$2.3M$4.0M
Net Loss attributable to common shareholders-$4.4M-$7.7M
Basic and Diluted earnings per share (in dollars per share)-$1.09-$14.29
Weighted average number of shares Basic and Diluted: (in shares)4.0M shares539.1K shares

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Corporate structure

cbdMD, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of cbdMD, Inc.

  • Clark R. Crosnoe Filed SCHEDULE 13G/A on cbdMD, Inc., latest Dec 19, 2025 (2 filings since May 12, 2025)
  • Jeffrey H. Porter Filed SCHEDULE 13D on cbdMD, Inc., latest May 8, 2025
  • AMERICAN MEDIA INC Filed SC 13G on cbdMD, Inc., latest Mar 3, 2023
  • Raymond Scott Coffman Filed SC 13D/A on cbdMD, Inc., latest Aug 12, 2022 (5 filings since Dec 30, 2021)
  • cbdMD, Inc. Charlotte, North Carolina

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What cbdMD, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.5M3 Sep 30, 2025$2.4M3 Sep 30, 2024+7.8%
Accumulated depreciation$2.3M3 Sep 30, 2025$1.9M3 Sep 30, 2024+19.0%
Property and equipment, net$277.4K3 Sep 30, 2025$454.3K3 Sep 30, 2024−38.9%
Operating-lease assets (leased space)$703.9K3 Sep 30, 2025$85.8K3 Sep 30, 2024+720.3%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.3M3 Sep 30, 2025$2.5M3 Sep 30, 2024−7.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$2.1M3 Sep 30, 2025$2.9M3 Sep 30, 2024−26.5%
Accumulated amortization$3.8M3 Sep 30, 2025$3.0M3 Sep 30, 2024+25.3%
Finite-lived intangibles, net$2.1M3 Sep 30, 2025$2.9M8 Sep 30, 2024−26.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$2.9M3 Sep 30, 2025$2.5M3 Sep 30, 2024+16.7%
Finished goods$1.6M3 Sep 30, 2025$1.5M3 Sep 30, 2024+2.8%

Properties, in its own words

We operate our executive offices and warehouse from an 80,000 square foot facility in Charlotte, North Carolina under a lease agreement which commenced in November 2019. Effective November 26, 2024 we entered into a Second Amendment to Lease to extend the lease. The amendment extends the term of the lease for a period of nineteen months beginning on March 1, 2025 with a new expiration date of September 30, 2026. The Company has no further rights to extend or renew the terms of the lease. The amendment provides for the monthly base rent of $65,000, with an annual base rent of $9.75 per square feet from March 1, 2025 through February 28, 2026, and $67,600 with an annual base rent of $10.14 per square feet from March 1, 2026 through September 30, 2026. The Company shall also continue to pay additional rent and all other amounts (other than “Monthly Base Rent”) in accordance with the terms of the lease, except the “Controllable CAM Charges" provision have been deleted. Furthermore, the landlord has approved certain subleases entered into by and between the Company and sub tenants for portions of the facility. This facility is sufficient for our current and anticipated operations through September 2026. The Company expects to downsize its lease in the next year either with our existing landlord or at another facility.

Item 2 of the 10-K filed Dec 19, 2025.12

Leadership

Who has led cbdMD, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Martin A. Sumichrast2017–2022
  2. Raymond Scott Coffman2019–2022

Chair

  1. Martin A. Sumichrast2017–2022

President

  1. Caryn Nicole Dunayer2019–2020
  2. Raymond Scott Coffman2021–2022
  3. Kevin Macdermott2022

Chief financial officer

  1. Mark S. Elliott2017–2020

Chief operating officer

  1. Mark S. Elliott2017–2020
20202025
Board members and other officers (15)

Former names

  • Level Brands, Inc.Mar 9, 2017 to May 1, 20192
  • LEVEL BEAUTY GROUP, INC.Jun 23, 2015 to Sep 27, 20162

Timeline

  1. Sep 2, 20268-K Entered a material agreement; Bylaws or fiscal year changed; Regulation FD disclosure34
  2. May 20, 20268-K Entered a material agreement; New debt or obligation35
  3. Apr 15, 20268-K Other events36
  4. Apr 1, 20268-K Executive or director change; Shareholder vote37
  5. Jan 14, 20268-K Entered a material agreement; Unregistered sale of shares38
  6. Dec 8, 20258-K Regulation FD disclosure; Other events39
  7. Nov 28, 20258-K Executive or director change40
  8. Nov 25, 20258-K Results of operations41
  9. Oct 6, 20258-K Entered a material agreement; Unregistered sale of shares; Bylaws or fiscal year changed42
  10. May 20, 20258-K Other events43
  11. May 7, 20258-K Change to shareholders' rights; Bylaws or fiscal year changed44
  12. Apr 11, 20258-K Shareholder vote; Other events45
  13. Dec 12, 2019New chief executive Raymond Scott Coffman becomes CEO13
  14. Nov 16, 2017New chief executive Martin A. Sumichrast becomes CEO14

Calendar

When it reported results

  1. Nov 25, 2025Reported quarterly or annual results41

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

225 filings to the SEC since October 2021: 10 annual reports, 15 quarterly reports, 78 major events, 56 insider forms, 9 large holders, 57 other. The latest 20:

  1. Sep 2, 20268-K EDGAR
  2. Aug 13, 202610-Q EDGAR
  3. May 20, 20268-K EDGAR
  4. May 14, 202610-Q EDGAR
  5. Apr 16, 20264 EDGAR
  6. Apr 16, 20264 EDGAR
  7. Apr 16, 20264 EDGAR
  8. Apr 16, 20264 EDGAR
  9. Apr 16, 20264 EDGAR
  10. Apr 16, 20264 EDGAR
  11. Apr 15, 20268-K EDGAR
  12. Apr 1, 20268-K EDGAR
  13. Mar 4, 2026EFFECT EDGAR
  14. Mar 4, 2026424B4 EDGAR
  15. Mar 2, 2026CORRESP EDGAR
  16. Feb 20, 2026S-1/A EDGAR
  17. Feb 17, 202610-Q EDGAR
  18. Feb 12, 2026DEF 14A EDGAR
  19. Feb 2, 2026PRE 14A EDGAR
  20. Jan 30, 2026UPLOAD EDGAR

The 225 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 1 buys and 1 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 17, 2025Crosnoe Clark R.10% ownerSale550,701$2.31$1.3MForm 4
May 3, 2023Kennedy Thomas RonanCEO and CFOBuy5,000$2.10$10.5KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Ronan Kennedy$275.0K$300.0K50
2025Bradley Whitford$192.3K$207.3K50
2024CEO and CFO$275.0K50
2024Chief Accounting Officer$181.4K50

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 27. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Worth Venture Partners, LLC184,796$124.4K0.6%No change
Css Llc/il137,621$92.6K0.0%No change
Vanguard Capital Management LLC119,645$80.5K0.0%+68,592
Chapin Davis, Inc.81,250$54.7K0.0%No change
Alesco Advisors, LLC, An ESL Co68,513$46.1K0.0%No change
Chicago Partners Investment Group LLC78,098$45.0K0.0%+64,598
XTX Topco Ltd62,743$42.2K0.0%−29,306
Jane Street Group, LLC54,401$36.6K0.0%−21,937
Vanguard Fiduciary Trust Co47,157$31.7K0.0%No change
UBS Group AG21,576$14.5K0.0%−143,067
Commonwealth Equity Services, LLC16,255$10.9K0.0%No change
StoneX Group Inc.12,732$10.3K0.0%New
Northern Trust Corp14,903$10.0K0.0%New
Harbour Investments, Inc.5,200$3.5K0.0%No change
Morgan Stanley1,139$7670.0%No change
BlackRock, Inc.1,080$7270.0%No change
Osaic Holdings, Inc.63$410.0%No change
Virtu Financial LLC10,491$70.0%New
HHM Wealth Advisors, LLC8$60.0%No change
Axiom Investment Management LLC7$50.0%New
Golden State Wealth Management, LLC2$20.0%−2
Farther Finance Advisors, LLC3$20.0%No change
Rothschild Investment LLC1$10.0%No change
Citigroup Inc1$10.0%New
Group One Trading LLC2$10.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How cbdMD, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARcbdMD, Inc.1
  • CIK0001644903
  • Employer ID (EIN)47-341457612
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company12
  • Incorporated inNorth Carolina12
  • Fiscal year endsSeptember 301
  • Industry code (SIC)2844 Perfumes, Cosmetics & Other Toilet Preparations1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address8845 Red Oak Boulevard, Charlotte, NC 282171
  • Phone704-445-30601
  • Shares outstanding11,205,045 as of Aug 13, 202611
  • Public float$2.8M as of Mar 31, 202512
  • AuditorCherry Bekaert LLP, Charlotte, North Carolina PCAOB ID 677; no auditor attestation of internal control over financial reporting12
  • On EDGAR sinceJun 23, 20151
  • Filings535 in all: 8-K (189), 4 (116), 10-Q (27), 3 (21), CORRESP (17), UPLOAD (16), 424B5 (14), DEFA14A (11)1
    All 47 form types

    SC 13D/A (11), DEF 14A (10), 10-K (9), EFFECT (8), 10-K/A (6), 4/A (6), FWP (6), PRE 14A (6), S-1 (6), 8-K/A (5), 424B4 (4), S-8 (4), 424B3 (3), D (3), DRSLTR (3), S-1/A (3), S-3 (3), 1-A/A (2), 144 (2), 8-A12B (2), SC 13D (2), SC 13G (2), SC 13G/A (2), 1-A (1), 10-Q/A (1), 25-NSE (1), 253G1 (1), CERT (1), CERTNYS (1), D/A (1), DEFR14A (1), DRS (1), PRER14A (1), QUALIF (1), RW (1), S-3/A (1), SCHEDULE 13D (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (10-K) Dec 19, 2025
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Feb 12, 2026
    Latest 8-K (8-K) Sep 2, 2026

Securities registered for trading

ClassSymbolExchange
commonYCBDNYSE American

From the cover page of the 10-K filed Dec 19, 2025 (Section 12(b) of the Exchange Act).12

Risk factors and legal proceedings

The risks cbdMD, Inc. names in Item 1A of its 10-K filed Dec 19, 2025: 29 risks under these headings, as written.12

  • RISKS RELATED TO OUR OVERALL BUSINESS
  • We have a history of losses from operations and there are no assurances we will report profitable operations in future periods or continue as a going concern.
  • In the event our revenues do not increase, we will need to raise additional capital to fund our operations in furtherance of our business plan.
  • Our recent negative growth rates may continue.
  • Our business depends on maintaining and strengthening our brand and generating and maintaining ongoing demand for our products, and a significant reduction in such demand could harm our results of operations.
  • If we fail to attract new customers in a cost-effective manner, our business may be harmed.
  • Our growth depends, in part, on expanding into additional consumer markets, and we may not be successful in doing so.
  • Our plans for international expansion may not be successful.
  • Fluctuations in the cost and availability of raw materials, equipment, labor, and transportation could cause manufacturing delays or increase our costs.
  • We rely on third-parties for raw materials and to manufacture and compound our products. We have no control over these third parties and if these relationships are disrupted our results of operations in future periods will be adversely impacted.
  • Failures in our third-party verification and testing protocols may have an adverse impact on our brands which could suppress sales.
  • Failures to comply with applicable laws, including hemp laws, by our third-party suppliers could create disruptions in the supply chain and adversely impact our ability to manufacture products effectively.
The other 18 risks
  • Product inventory may expire prior to sale due to limited shelf life.
  • Consumers of the Company’s products may face adverse consequences should they test positive for THC which could negatively impact the Company’s reputation, lead to litigation, or other potentially negative impacts to the Company.
  • We could be harmed by data loss or other security breaches.
  • We face risks related to system interruption and lack of redundancy.
  • Our future success depends on the continuing efforts of our management and key employees, and on our ability to attract and retain highly skilled personnel and senior management.
  • If our other intangible assets, or fixed assets become impaired, we may be required to record a charge to our earnings.
  • RISKS RELATED TO THE REGULATORY ENVIRONMENT FOR CBD
  • Lack of clarity and changes to Federal or state laws pertaining to industrial hemp could slow the use of industrial hemp which would materially impact our revenues in future periods.
  • Final designation of hemp derived cannabinoids as impermissible adulterants, FDAs refusal to accept hemp derived cannabinoids as New Dietary Ingredients ("NDI") or FDAs interpretation of Investigational New Drug ("IND") Preclusion could negatively impact the Company’s operations.
  • Failure or inability to secure required state or federal regulatory approvals and permits could negatively impact the Company’s ability to conduct business.
  • Costs associated with compliance with numerous laws and regulations could impact our financial results. In addition, we could become subject to increased litigation risks associated with the CBD industry and the overall Dietary Supplement Industry.
  • Uncertainty caused by potential changes to legal regulations could impact the use of the Company’s products.
  • The FTC may seek to pursue enforcement actions against companies selling hemp derived cannabinoids, including the Company.
  • Risks associated with international regulations.
  • Tariffs on imported packaging materials could increase our costs and negatively affect our business, results of operations, and financial condition.
  • RISKS RELATED TO OWNERSHIP OF OUR SECURITIES
  • We are subject to the continued listing standards of the NYSE American and our failure to satisfy these criteria may result in de-listing of our common stock.
  • The Series B Convertible Preferred Stock ranks senior to our Common Stock all indebtedness and other liabilities of our subsidiaries.
  • Change of Control rights of the Series B Convertible Preferred Stock may make it more difficult for a party to acquire us or discourage a party from acquiring us.
  • The liquidation preference of the shares of our Series B Convertible Preferred Stock would reduce the amount available to our common shareholders in the event of our liquidation or winding up.

Legal proceedings

In December 2019, Cynthia Davis filed a purported collective and class action lawsuit in the United States District Court for the Central District of California against cbdMD and certain of our competitors alleging violations of the California’s Unfair Competition Law, California’s False Advertising Law and California’s Consumer Legal Remedies Act, as well as claims for Breach of Express Warranties, Breach of Implied Warranty of Merchantability and Declaratory Relief. On March 4, 2021 the Court granted cbdMD’s motion to stay the case until the FDA or Congress takes definitive action on the regulatory status of CBD and the case remains in this status as of this filing. The Company believes this matter will eventually be dismissed but there is no timeline on when the FDA or Congress will take action so the case is expected to be stayed indefinitely.

The opening of Item 3, Legal Proceedings.12

Sources

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