cbdMD Reports 12% Sequential Revenue Growth, Closes Bluebird Botanicals Deal
First quarter net sales reached $5.0 million, down 1.9% year-over-year but up 12% sequentially, with non-GAAP adjusted EBITDA loss narrowing to $36,000. The company raised $2.25 million in Series C financing, bolstered working capital to $5.4 million, and completed acquisition of Bluebird Botanicals to drive synergies.
1. Q1 Financial Performance
In the first quarter of fiscal 2026, cbdMD generated net sales of $5.0 million, representing a 1.9% year-over-year decline but a 12% increase sequentially. Loss from operations was $286,000 and non-GAAP adjusted EBITDA loss narrowed to $36,000, with net loss per share improving to $0.04.
2. Series C Financing and Liquidity
In December 2025, the company raised approximately $2.25 million through Series C preferred financing, increasing cash on hand to $3.4 million and working capital to $5.4 million as of December 31, 2025, compared to $2.2 million cash and $3.3 million working capital at September 30, 2025.
3. Bluebird Botanicals Acquisition and Integration
cbdMD completed the acquisition of Bluebird Botanicals in mid-January 2026, adding its e-commerce operations and full-spectrum CBD GRAS status. Integration efforts are focused on unlocking operational efficiencies, cost synergies and revenue optimization to support sustainable profitability.