In addition, we believe it useful to investors to understand the specific impact of the application of the fair value method of accounting for share-based compensation on our operating results.Adjusted EBITDA is defined by us as EBITDA (net income (loss) plus depreciation expense, amortization expense, interest and income tax expense (benefit), further adjusted to exclude certain non-cash expenses and other adjustments as set forth below. 29 talking about this. CV Sciences, Inc. Announces Launch of Happy Lane™ CBD Product Line. CV Sciences™ provides research based solutions for the well being of the planet.
The non-GAAP financial measures exclude non-cash compensation expense for stock options and other non-recurring items. "The Company recognized an operating loss of $4.7 million in the second quarter of 2020, compared to an operating income of $1.3 million in the prior year.The Company had negative adjusted EBITDA for the second quarter of 2020 of $3.2 million, compared to adjusted EBITDA of$3.6 million for the second quarter of 2019.We prepare our condensed consolidated financial statements in accordance with generally accepted accounting principles for the United States (GAAP). We use non-GAAP measures internally to evaluate our performance and make financial and operational decisions that are presented in a manner that adjusts from their equivalent GAAP measures or that supplement the information provided by our GAAP measures. We will continue to focus on expanding our distribution, products, categories and opportunity with a focus on driving growth and long-term shareholder value. San Diego; CV Sciences; Add your business for free + Contact. We have the infrastructure in place to support significant growth and the science and compliance capabilities to thrive in the evolving CBD market.”Dowling continued, “Our drug development business also achieved a key milestone this quarter, receiving a Notice of Allowance from the USPTO for our patent covering methods of treating smokeless tobacco addiction by administering pharmaceutical formulations containing CBD and nicotine. For reviews of CV Sciences see below. Our proprietary technology and intellectual property, the first-of-its-kind treatment for smokeless tobacco addiction, provides us with significant value and opportunities to commercialize a novel CBD-based pharmaceutical drug addressing a significant unmet medical need. The non-GAAP financial measures exclude non-cash compensation expense for stock options and other non-recurring items.
SAN DIEGO, May 08, 2020 (GLOBE NEWSWIRE) -- CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV We use Adjusted EBITDA because we believe it more clearly highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures, since Adjusted EBITDA eliminates from our results specific financial items that have less bearing on our core operating performance.We use Adjusted EBITDA in communicating certain aspects of our results and performance, including in this press release, and believe that Adjusted EBITDA, when viewed in conjunction with our GAAP results and the accompanying reconciliation, can provide investors with greater transparency and a greater understanding of factors affecting our financial condition and results of operations than GAAP measures alone. For maps and directions to CV Sciences view the map to the right.
The worldwide smokeless tobacco addiction treatment market is estimated at greater than $2 billion and provides another important long-term growth channel for our company, in addition to our consumer product segment.”The Company recognized an operating loss of $5.3 million in the first quarter of 2020, compared to an operating loss of $9.4 million in the prior year.The Company had negative adjusted EBITDA for the first quarter of 2020 of $3.9 million, compared to adjusted EBITDA of $1.7 million for the first quarter of 2019.We prepare our condensed consolidated financial statements in accordance with generally accepted accounting principles for the United States (GAAP). 104 Cv Sciences jobs available in San Diego, CA on Indeed.com. The company's research and development offers new opportunities for enhancing health and well-being. This error message is only visible to WordPress admins
CV Sciences follows all guidelines for Good Manufacturing Practices (GMP), and the Company’s products are processed, produced, and tested throughout the manufacturing process to confirm strict compliance with company standards and specifications. The non-GAAP financial measures such as net income and loss per share and Adjusted EBITDA included in this press release are different from those otherwise presented under GAAP. We have also worked to put in place the financial resources to navigate the near-term challenges of COVID-19 and the short-term challenges affecting the broader CBD market, and remain well positioned as a leading brand in the hemp-derived CBD market.
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