cbdMD, Inc. (NYSE: YCBD)

cbdMD, Inc. is a consumer wellness company focused on the development, manufacturing, marketing, and sale of supplement brands powered by natural compounds. The company operates in the consumer wellness industry, with a primary emphasis on hemp-derived cannabinoids, including broad-spectrum and full-spectrum CBD formulations, hemp-derived Delta-9 THC products, and a range of functional products designed to address key wellness needs such as sleep, recovery, mood, discomfort, mobility, cognitive function, and stress management. cbdMD combines scientific rigor with high manufacturing standards to produce consistent, safe, and reliable products that meet both consumer expectations and evolving regulatory requirements.

cbdMD generates revenue through a diversified distribution network that includes direct-to-consumer e-commerce platforms, online marketplaces, wholesale distribution to national and regional retailers, specialty health and pet channels, and emerging international markets. The company's primary products include oils, gummies, capsules, soft-gels, topicals, functional formulations, and hemp-derived compliant Delta-9 THC products under its flagship cbdMD brand. Additionally, cbdMD offers Paw CBD, a dedicated pet-wellness brand providing tinctures, chews, and topicals for dogs and cats. The company also operates the ATRX platform, which offers cutting-edge, emerging, and novel non-cannabinoid functional ingredients such as functional mushrooms, and the Herbal Oasis brand, a premium hemp-derived THC-infused social seltzer that blends cannabinoids and nootropic mushrooms.

• cbdMD: This segment is the flagship brand of cbdMD, Inc. It offers a wide range of products including oils, gummies, capsules, soft-gels, topicals, functional formulations, and hemp-derived compliant Delta-9 THC products. The cbdMD brand caters to consumers seeking wellness solutions for sleep, recovery, mood, discomfort, mobility, cognitive function, and stress management. The brand is marketed through direct-to-consumer e-commerce platforms, online marketplaces, and wholesale distribution to national and regional retailers.

• Paw CBD: This segment is dedicated to pet wellness and provides tinctures, chews, and topicals for dogs and cats. Paw CBD reflects the company's long-standing emphasis on safety and quality in the animal health category. The products are designed to address the wellness needs of pets, including mobility, discomfort, and stress management. The brand is marketed through specialty health and pet channels, as well as direct-to-consumer e-commerce platforms.

• ATRX: The ATRX platform offers cutting-edge, emerging, and novel non-cannabinoid functional ingredients such as functional mushrooms. This segment supports future expansion into performance-driven nutraceutical and nootropic categories utilizing synergistic ingredient combinations. The ATRX brand caters to consumers seeking advanced wellness solutions and is marketed through direct-to-consumer e-commerce platforms and specialty health channels.

• Herbal Oasis: This segment offers a premium hemp-derived THC-infused social seltzer that blends cannabinoids and nootropic mushrooms. Herbal Oasis is designed to deliver a fast-acting, functional beverage made for presence and connection. The brand caters to consumers seeking a unique and functional beverage experience and is marketed through direct-to-consumer e-commerce platforms and emerging international markets.

cbdMD operates in a highly competitive industry, with over 2,000 brands in the hemp-derived cannabinoid market and no clear dominant brand in the US. The company's key competitors include a combination of public and private companies that operate as a mix of e-commerce and wholesale brands, as well as brick-and-mortar retail operations. cbdMD seeks to differentiate itself by focusing on hemp-derived cannabinoids and identifying new, emerging ingredients with functional efficacy for key consumer need states such as sleep, mood, focus, and energy. The company's competitive advantages include its investment in clinical trials, peer-reviewed publications, and biometric data, which strengthen its ability to meet substantiation standards and build credibility among consumers, retailers, and regulatory authorities.

cbdMD's customer base is diverse and includes individual consumers, retailers, and distributors. The company's products are sold through a variety of channels, including direct-to-consumer e-commerce platforms, online marketplaces, wholesale distribution to national and regional retailers, specialty health and pet channels, and emerging international markets. The company's diversified distribution network allows it to reach a broad and diverse consumer base, reduce reliance on any single distribution partner, and quickly introduce new products that reflect scientific findings, consumer trends, and regulatory dynamics.