cbdMD Inc., a seller of consumer cannabidiol (CBD) products, will debut its first national television commercial, the company announced in a press release on Monday.
Starting this week, the company, which sells products ranging oils and topicals to gummies and pet products, will air a 30-second commercial on multiple national cable networks.
cbdMD expects to reach more than 50 million households across the estimated 500 spots in the first two weeks, according to the press release.
“Our new national TV ad campaign will be undertaken in a fiscally prudent manner, as we reallocate our marketing spend to stay on track to meet our fiscal performance objectives,” cbdMd’s CMO Ken Cohn said in a statement.
This month, cbdMD reported a loss per share of 18 cents during the second quarter, compared to a loss per share of $1.19 in the same quarter last year. During the quarter, the company also posted record net sales of $10.6 million, an increase of 33 percent from a year ago, driven by a surge in e-commerce.
The company views the new advertising campaign as complementary to its multi-media presence across sports sponsorships, social media, digital advertising, podcasts, and athlete endorsements.
Shares of cbdMD Inc. (YCBD) were trading down 3.93 percent near $3.42 on Tuesday.