CHARLOTTE, N.C.--(BUSINESS WIRE)--cbdMD, Inc. (NYSE American: YCBD, YCBD PR A) (the “Company”), one of the leading, highly trusted, and most recognized cannabidiol (CBD) brands, today reported the following preliminary financial results for the fourth quarter of fiscal 2020 and the year ended September 30, 2020.

• Net sales revenue for fiscal 2020 is expected to range between $41.7 and $41.8 compared to $23.7 million in fiscal 2019.

• Net sales revenue for the fourth quarter of fiscal 2020 is expected to range between $11.5 and $11.7 million compared to $9.54 million in the fourth quarter of fiscal 2019.

“cbdMD continues to generate outstanding sales growth while reaffirming its commitment to reaching positive adjusted operating income during calendar 2020. Our direct to consumer (DTC) net sales channel is performing very strong and we expect to report an increase between 71% and 72% of net sales from 62.5% in fiscal 2019. As we look ahead into 2021, we expect the CBD industry to grow appreciably. We believe that this moment in time represents a singular investment opportunity. Nationally recognized brands, such as cbdMD and PawCBD, will likely capture significant market share as the industry consolidates. Anticipated regulation is expected to reduce competition while creating barriers to entry for new entrants. We believe that now is the time to capitalize on this opportunity. cbdMD has been a brand leader in marketing, product innovation and customer service and we expect to continue to gain more market share and achieve additional growth into 2021,” said Martin Sumichrast, Chairman and co-CEO of cbdMD, Inc.

About cbdMD, Inc.

cbdMD, Inc. is a nationally recognized consumer cannabidiol (CBD) brand whose current products include CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD bath bombs, and CBD pet products. cbdMD is also a proud partner of Bellator MMA and Life Time, Inc., and has one of the largest rosters of professional sports athletes who are part of “Team cbdMD.” To learn more about cbdMD and our comprehensive line of over 100 SKUs of U.S. produced, non-THC1 CBD products, please visit www.cbdMD.com, follow cbdMD on Instagram and Facebook, or visit one of the 6,000 retail outlets that carry cbdMD products.