CV Sciences, Inc.

CV Sciences reported Q2 2026 revenue of $3 million, down 7% sequentially from $3.2 million in Q1 2026 and down 17% year over year, driven primarily by a 15% decline in unit sales. Gross margin was 48.6%, compared with 50.9% in the prior-year period and 48.9% in Q1 2026. SG&A expenses were $1.7 million, down from $1.9 million in the prior-year period, and operating loss was $0.3 million versus an operating loss of approximately $0.1 million a year ago; GAAP net loss was $0.8 million versus $0.3 million in the prior year period. Adjusted EBITDA loss was $0.1 million, unchanged from Q1, and the company generated positive operating cash flow of approximately $20,000. Cash ended the quarter at approximately $0.3 million, inventory was approximately $4.0 million, and the fair value of the outstanding convertible note was $1 million as of June 30, 2026. Management did not provide formal next-quarter or full-year financial guidance.

CEO Joseph Dowling framed the quarter as progress toward a leaner, more profitable company despite a challenging market and regulatory backdrop. He emphasized the shift beyond cannabinoids through PlusHLTH.com, the new Empower product, and plans to launch multiple non-cannabinoid products through 2026. He also pointed to the company’s preparedness to adjust product offerings if hemp regulations force changes, while sounding more optimistic after the Senate approved a delay to certain hemp-related regulatory provisions.

CFO Joerg Grasser focused on execution, margin discipline, and liquidity management. He said revenue was $3 million, down 7% sequentially and 17% year over year, gross margin was 48.6% versus 50.9% in the prior-year period, and SG&A fell to $1.7 million from $1.9 million, driven by lower legal and professional fees, reduced marketing spend, and administrative efficiencies. He also highlighted positive operating cash flow of about $20,000, cash of approximately $0.3 million, inventory of approximately $4.0 million, and a $0.7 million reduction in the outstanding convertible note balance through conversions.

There was no analyst Q&A because no questions were taken. The closest thing to a management response was the prepared commentary on regulatory risk: Dowling said the November 2025 Appropriations Act could require changes to product offerings if unchanged, but the Senate-approved continuing resolution would delay implementation to December 11, 2026 if enacted. Management said this would give the industry more time to work toward a longer-term regulatory solution.