CVSI · CV Sciences, Inc.
CV Sciences, Inc. engages in the development, manufacture, marketing, and sale of herbal supplements, hemp-based cannabidiol (CBD), and plant-based food products in North America. It offers its products under the PlusCBD, PlusCBD Pet, PlusHLTH, Cultured Foods, and Lunar Fox brand names in the health care market sector, including nutraceutical, beauty care, specialty foods, and pet products through its websites, select distributors, brick and mortar retailers, and select e-tailers. The company was formerly known as CannaVest Corp. and changed its name to CV Sciences, Inc. in January 2016. CV Sciences, Inc. was incorporated in 2010 and is based in San Diego, California.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $0.02 |
| SO | 225.8M |
| Options | 53.8M |
| Warrants | 0.0M |
| FD SO | 279.6M |
| MC | $5.6M |
| Cash | $0.3M |
| Total debt | $0.0M |
| EV | $5.3M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 0.4x |
| EV / EBITDA | — |
| MC / Net Income | — |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 0.0% |
| Insiders | 7.0% |
| # Institutions | 0 |
| Analysts | 0 |
| Consensus | — |
| Avg target | — |
| Short % float | — |
| Days to cover | — |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-08-11. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-09-10 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest shown as "—" when unreported or older than 60 days.
Financial statements
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Total Revenue | 2.98 | 3.19 | 3.31 | 3.26 |
| Revenue YoY % | (17.5%) | (11.4%) | (14.9%) | (15.8%) |
| Cost of Revenue | 1.53 | 1.63 | 1.64 | 1.68 |
| Gross Profit | 1.45 | 1.56 | 1.67 | 1.58 |
| Gross Profit YoY % | (21.4%) | (5.8%) | (0.4%) | (11.2%) |
| Gross Margin % | 48.6% | 48.9% | 50.5% | 48.5% |
| SG&A | 1.73 | 1.86 | 1.73 | 1.83 |
| R&D | 0.02 | 0.02 | 0.02 | 0.02 |
| Operating Expense | 1.75 | 1.88 | 1.75 | 1.85 |
| Operating Income | (0.30) | (0.32) | (0.07) | (0.28) |
| Operating Income YoY % | (129.8%) | (2990.9%) | 88.4% | 19.4% |
| Operating Margin % | (10.1%) | (10.0%) | (2.3%) | (8.4%) |
| EBITDA | (0.28) | (0.29) | (0.05) | (0.24) |
| EBITDA Margin % | (9.3%) | (9.2%) | (1.6%) | (7.5%) |
| Interest Expense | 0.00 | 0.09 | 0.13 | 0.11 |
| Pretax Income | (0.77) | (0.64) | (0.20) | (0.38) |
| Tax Provision | 0.01 | 0.00 | 0.00 | 0.00 |
| Net Income | (0.78) | (0.64) | (0.21) | (0.38) |
| Net Margin % | (26.0%) | (20.1%) | (6.2%) | (11.7%) |
| Diluted EPS | $0.00 | $0.00 | -$0.01 | $0.00 |
| Basic EPS | $0.00 | $0.00 | -$0.01 | $0.00 |
| Diluted Avg Shares | 205.1 | 186.9 | — | 184.3 |
| Basic Avg Shares | 205.1 | 186.9 | — | 184.3 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 12.74 | 13.79 | 15.71 | 16.00 | 16.20 |
| Revenue YoY % | (7.6%) | (12.2%) | (1.9%) | (1.2%) | — |
| Cost of Revenue | 6.48 | 7.04 | 8.54 | 8.92 | 10.65 |
| Gross Profit | 6.26 | 6.75 | 7.17 | 7.08 | 5.55 |
| Gross Profit YoY % | (7.3%) | (5.8%) | 1.2% | 27.7% | — |
| Gross Margin % | 49.1% | 49.0% | 45.6% | 44.3% | 34.2% |
| SG&A | 7.15 | 7.62 | 9.24 | 9.74 | 12.09 |
| R&D | 0.08 | 0.12 | 0.12 | 0.15 | 0.31 |
| Operating Expense | 7.23 | 7.22 | 9.36 | 3.73 | 12.40 |
| Operating Income | (0.97) | (0.47) | (2.19) | 3.36 | (6.85) |
| Operating Income YoY % | (106.2%) | 78.5% | (165.2%) | 149.1% | — |
| Operating Margin % | (7.6%) | (3.4%) | (13.9%) | 21.0% | (42.3%) |
| EBITDA | (0.87) | (0.28) | (1.86) | 3.60 | (5.86) |
| EBITDA Margin % | (6.8%) | (2.0%) | (11.8%) | 22.5% | (36.1%) |
| Interest Expense | 0.33 | 0.52 | 0.21 | — | 0.60 |
| Other Income / (Expense) | (0.70) | — | — | — | (0.81) |
| Pretax Income | (2.00) | (0.95) | (2.40) | 3.10 | (8.26) |
| Tax Provision | 0.01 | 0.01 | (0.01) | (0.01) | (0.05) |
| Net Income | (2.01) | (0.96) | (2.39) | 3.10 | (8.21) |
| Net Margin % | (15.7%) | (6.9%) | (15.2%) | 19.4% | (50.7%) |
| Diluted EPS | -$0.01 | -$0.01 | -$0.01 | $0.02 | -$0.07 |
| Basic EPS | -$0.01 | -$0.01 | -$0.01 | $0.02 | -$0.07 |
| Diluted Avg Shares | 205.1 | 184.3 | 175.6 | 154.0 | 138.0 |
| Basic Avg Shares | 205.1 | 184.3 | 175.6 | 154.0 | 138.0 |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 0.27 | 0.31 | 0.28 | 0.38 |
| Receivables | 0.35 | 0.39 | 0.40 | 0.41 |
| Inventory | 3.96 | 3.90 | 4.09 | 4.08 |
| Total Current Assets | 4.88 | 5.00 | 5.13 | 5.10 |
| Net PPE | 0.32 | 0.33 | 0.34 | 0.35 |
| Operating Lease ROU | 0.21 | 0.28 | 0.35 | 0.41 |
| Goodwill | 1.00 | 1.00 | 1.01 | 1.01 |
| Intangible Assets | 0.06 | 0.07 | 0.08 | 0.08 |
| Total Assets | 6.52 | 6.72 | 6.96 | 7.00 |
| Accounts Payable | 1.06 | 1.08 | 1.04 | 1.21 |
| Current Debt | 0.02 | 0.07 | 1.26 | 0.45 |
| Current Lease Liabilities | 0.22 | 0.25 | 0.25 | 0.25 |
| Other Current Liabilities | 3.65 | 3.78 | 2.45 | 2.87 |
| Total Current Liabilities | 4.94 | 5.18 | 5.00 | 4.79 |
| Long-term Debt | 0.00 | 0.00 | 0.39 | 0.50 |
| Long-term Lease Liabilities | 0.00 | 0.04 | 0.10 | 0.16 |
| Total Liabilities | 4.95 | 5.22 | 5.49 | 5.46 |
| Retained Earnings | (89.36) | (88.58) | (87.94) | (87.73) |
| Total Equity | 1.57 | 1.50 | 1.47 | 1.54 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 0.27 | 0.28 | 0.45 | 1.32 | 0.61 |
| Receivables | 0.35 | 0.40 | 0.52 | 0.43 | 0.77 |
| Inventory | 3.96 | 4.09 | 4.90 | 5.66 | 6.56 |
| Other Current Assets | — | — | — | 0.54 | 3.19 |
| Total Current Assets | 4.88 | 5.13 | 6.24 | 7.94 | 11.13 |
| Net PPE | 0.32 | 0.34 | 0.40 | 0.38 | 0.57 |
| Operating Lease ROU | 0.21 | 0.35 | 0.09 | 0.17 | 0.28 |
| Goodwill | 1.00 | 1.01 | 0.97 | 0.34 | 0.00 |
| Intangible Assets | 0.06 | 0.08 | 0.09 | 0.08 | 0.25 |
| Other Assets | — | — | — | — | 0.51 |
| Total Assets | 6.52 | 6.96 | 7.93 | 9.20 | 12.74 |
| Accounts Payable | 1.06 | 1.04 | 1.93 | 2.31 | 2.28 |
| Current Debt | 0.02 | 1.26 | 0.68 | — | — |
| Current Lease Liabilities | 0.22 | 0.25 | 0.08 | 0.13 | 0.12 |
| Other Current Liabilities | 3.65 | 2.45 | 3.42 | 3.68 | 10.91 |
| Total Current Liabilities | 4.94 | 5.00 | 6.11 | 6.12 | 13.31 |
| Long-term Debt | 0.00 | 0.39 | 0.00 | — | — |
| Long-term Lease Liabilities | 0.00 | 0.10 | 0.02 | 0.06 | 0.19 |
| Total Liabilities | 4.95 | 5.49 | 6.13 | 6.30 | 13.51 |
| Retained Earnings | (89.36) | (87.94) | (86.98) | (84.59) | (87.69) |
| Total Equity | 1.57 | 1.47 | 1.79 | 2.90 | (0.78) |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Net Income | (0.78) | (0.64) | (0.21) | (0.38) |
| D&A | 0.02 | 0.02 | 0.02 | 0.03 |
| Stock-Based Comp | 0.15 | 0.15 | 0.12 | 0.12 |
| Δ Working Cap & Other | 0.62 | 0.57 | (0.29) | (0.03) |
| Operating Cash Flow | 0.02 | 0.10 | (0.35) | (0.26) |
| CapEx | (0.01) | (0.00) | (0.01) | (0.01) |
| Acquisitions | — | — | 0.00 | 0.00 |
| Investing Cash Flow | (0.01) | (0.00) | (0.01) | (0.01) |
| Financing Cash Flow | (0.05) | (0.07) | 0.26 | (0.23) |
| Effect of FX on Cash | (0.00) | 0.00 | 0.00 | (0.00) |
| Free Cash Flow | 0.01 | 0.10 | (0.36) | (0.27) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | (2.01) | (0.96) | (2.39) | 3.10 | (8.21) |
| D&A | 0.10 | 0.19 | 0.33 | 0.23 | 0.99 |
| Stock-Based Comp | 0.54 | 0.50 | 0.26 | 0.22 | 1.01 |
| Δ Working Cap & Other | 0.87 | (0.14) | 0.94 | (1.30) | 4.31 |
| Operating Cash Flow | (0.49) | (0.41) | (0.86) | 2.25 | (1.90) |
| CapEx | (0.03) | (0.11) | (0.02) | 0.00 | 0.00 |
| Acquisitions | — | 0.00 | (0.01) | (0.16) | 0.00 |
| Investing Cash Flow | (0.03) | (0.11) | (0.03) | (0.16) | 0.00 |
| Stock Issuance | — | — | — | — | 0.00 |
| Other Financing | — | — | — | (1.39) | 1.12 |
| Financing Cash Flow | (0.10) | 0.34 | 0.03 | (1.39) | 1.12 |
| Effect of FX on Cash | 0.00 | 0.00 | (0.01) | 0.00 | — |
| Free Cash Flow | (0.52) | (0.52) | (0.88) | 2.25 | (1.90) |
| 6/30/26 | 3/31/26 | 12/31/25 | 9/30/25 | |
|---|---|---|---|---|
| Current Ratio | 0.99 | 0.96 | 1.03 | 1.06 |
| Quick Ratio | 0.18 | 0.21 | 0.21 | 0.21 |
| Debt / Equity | 0.01 | 0.05 | 1.12 | 0.62 |
| EBITDA Margin % | (9.3%) | (9.2%) | (1.6%) | (7.5%) |
| Working Capital | (0.06) | (0.18) | 0.13 | 0.31 |
| Net Debt | (0.25) | (0.24) | 1.37 | 0.57 |
| ROE % | (49.3%) | (42.9%) | (14.0%) | (24.8%) |
| ROA % | (11.9%) | (9.6%) | (3.0%) | (5.5%) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | 0.99 | 1.03 | 1.02 | 1.30 | 0.84 |
| Quick Ratio | 0.18 | 0.21 | 0.22 | 0.37 | 0.34 |
| Debt / Equity | 0.01 | 1.12 | 0.38 | — | — |
| EBITDA Margin % | (6.8%) | (2.0%) | (11.8%) | 22.5% | (36.1%) |
| Working Capital | (0.06) | 0.13 | 0.13 | 1.82 | (2.18) |
| Net Debt | (0.25) | 1.37 | 0.22 | — | — |
| ROE % | (127.7%) | (65.3%) | (133.4%) | 106.9% | 1057.1% |
| ROA % | (30.8%) | (13.8%) | (30.2%) | 33.7% | (64.5%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-08-07 | P | 94,854 | $0.02 | $1,897 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-08-04 | P | 108,000 | $0.02 | $2,160 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-07-31 | P | 1,730,000 | $0.02 | $34,600 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-07-29 | P | 60,000 | $0.02 | $1,200 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-07-28 | P | 1,830,000 | $0.02 | $36,600 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-07-24 | P | 470,075 | $0.02 | $9,402 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-07-22 | P | 272,500 | $0.02 | $5,450 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-07-21 | P | 335,000 | $0.02 | $6,700 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-07-17 | P | 749,000 | $0.02 | $14,980 |
| 2026-09-09 | CHEEVER CHARLIE E III | 10% Owner | 2026-07-16 | P | 91,387 | $0.02 | $1,828 |
| 2025-02-20 | Corroon James Michael Jr. | Director | 2025-02-18 | A | 500,000 | — | $0 |
| 2025-02-20 | Grasser Joerg | Officer (Chief Financial Officer) | 2025-02-18 | A | 2,350,000 | — | $0 |
| 2025-02-20 | Dowling Joseph D | Director, Officer (Chief Executive Officer) | 2025-02-18 | A | 3,000,000 | — | $0 |
| 2025-02-20 | McCorkle William | Director | 2025-02-18 | A | 500,000 | — | $0 |