10-Q · May 15, 2026
CV Sciences reported Q1 2026 results with a revenue decline to $3.2 million, down 11.4% from $3.6 million in Q1 2025, and a gross margin improvement to 48.9%. The company realized an EPS of $0.0 for the quarter, while…
Earnings analysis · 10-Q
CVSI earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
CV Sciences reported Q2 2026 revenue of $2.985 million, down 17.5% year over year, with gross margin at 48.6% and diluted EPS of $0.00. Operating expenses improved 11.3% to $1.7 million, and new products represented 44%…
Read full summary
CV Sciences reported Q2 2026 revenue of $2.985 million, down 17.5% year over year, with gross margin at 48.6% and diluted EPS of $0.00. Operating expenses improved 11.3% to $1.7 million, and new products represented 44% of revenue, but these positives did not offset weaker sales and margin pressure. The filing provides no quantitative guidance, while continued senior secured convertible financing and the absence of formal Item 1A risk-factor disclosures limit visibility into liquidity and forward risks.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.0
- Gross margin
- 48.6%
- Segment
- New products contributed 44% of Q2 revenue, equivalent to approximately $1.31 million based on total revenue of $2.985 million; no formal segment revenue breakdown was provided.
What stood out
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Revenue declined 17.5% year over year
Q2 revenue was $2.985 million, down 17.5% year over year. Diluted EPS was $0.00, indicating no reported per-share profit improvement despite the company remaining near break-even on an EPS basis.
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Gross margin compressed to 48.6%
Gross margin was 48.6%, representing a deterioration from the prior-year period according to the supplied earnings analysis. The margin contraction is a negative profitability signal.
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Operating expenses fell to $1.7 million
Operating expenses decreased 11.3% year over year to $1.7 million, providing cost relief amid lower revenue.
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New products reached 44% of revenue
New products contributed 44% of Q2 revenue, or approximately $1.31 million based on reported revenue of $2.985 million, supporting product diversification.
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Controls remained effective
Management concluded that disclosure controls and procedures were effective as of June 30, 2026, and reported no changes during the quarter that materially affected internal control over financial reporting.
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Convertible financing remained active
The filing includes senior secured convertible notes due July 6, 2027, including notes dated May 31, 2026, June 30, 2026, and July 31, 2026, indicating continued financing activity.
What to watch
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Regulatory pressure and sales decline
Revenue declined 17.5% year over year to $2.985 million, consistent with ongoing sales pressure. The prior analysis attributed the weakness in part to regulatory pressure, which could continue to constrain demand and distribution.
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Profitability remains pressured
Gross margin fell to 48.6% while diluted EPS was $0.00. Lower margin conversion could limit the company’s ability to reach sustained profitability even with operating expenses reduced 11.3% to $1.7 million.
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Financing and liquidity risk
The company has senior secured convertible notes due July 6, 2027, and the 10-Q includes multiple notes dated May 31, June 30, and July 31, 2026. The filing’s Item 1A states that risk factors are “not applicable” because CV Sciences is a smaller reporting company, so no formal risk-factor changes versus the prior filing were disclosed.
Management's outlook
The 10-Q provides no numerical revenue or EPS guidance and does not state that prior guidance was raised, maintained, lowered, or withdrawn. Outlook was not quantified in the supplied filing text.
Earlier filings 4
10-K · March 26, 2026
CV Sciences positions itself as a consumer wellness company selling hemp-derived CBD and plant-based food products through four brands (+PlusCBD™, +PlusHLTH™, Cultured Foods™, Lunar Fox™) and manufacturing via Elevated…
10-Q · May 14, 2025
Q1 2025 revenue declined to $3.606M (down $396K or ~9.9% YoY) and gross profit fell to $1.658M (down $195K). Operating results improved to an operating income of $11K (from an operating loss of $620K) largely due to a…
10-Q · November 14, 2024
CV Sciences, Inc. demonstrated a decrease in revenue in Q3 2024, reporting $3,865,000 compared to $4,089,000 in Q3 2023. The net loss widened slightly to $(456,000) from $(447,000) year-over-year, resulting in an EPS of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.