instruments 1,422 (4,024) 702 5,588 Other income (expense), net (1,189) 841 $(584.SI)$ (1,234) ----------------------------- ----------------------------- ----------------------------- ----------------------------- Loss before provision for income taxes (5,787) (15,143) (26,416) (15,211) Income tax expense -- -- (62) -- ----------------------------- ----------------------------- ----------------------------- ----------------------------- Net loss $ (5,787) $ (15,143) $ (26,478) $ (15,211) ============================= ============================= ============================= ============================= Per common share amounts Net loss per common share, basic and diluted $ (0.04) $ (0.10) $ (0.17) $ (0.10) CHARLOTTE'S WEB HOLDINGS, INC. CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (in thousands of U.S. dollars, except share amounts) Common Shares ----------------------------------------------- ----------------------------- ----------------------------- ------------------------------ Additional Total Paid-in Shareholders' Shares Amount Capital Accumulated Deficit Equity ----------- ---------------------------------- ----------------------------- ----------------------------- ------------------------------ Balance--December 31, 2023 154,332,366 $ 1 $ 327,280 $ (271,723) $ 55,558 Common shares issued upon vesting of restricted share units, net of withholding 2,895,489 -- (98) -- (98) Share-based compensation -- -- 842 -- 842 Net income (loss) -- (9,634) (9,634) ----------- ---------------------------------- ----------------------------- ----------------------------- ------------------------------ Balance-- March 31, 2024 157,227,855 $ 1 $ 328,024 $ (281,357) $ 46,668 Common shares issued upon vesting of restricted share units, net of withholding 267,187 -- (20) -- (20) Share-based compensation -- -- 237 -- 237 Net income (loss) -- -- -- (11,057) (11,057) ----------- ---------------------------------- ----------------------------- ----------------------------- ------------------------------ Balance--June 30, 2024 157,495,042 $ 1 $ 328,241 $ (292,414) $ 35,828 Common shares issued upon vesting of restricted share units, net of withholding 267,187 -- (15) -- (15) Share-based compensation -- -- 217 -- 217 Net income (loss) -- -- -- (5,787) (5,787) ----------- ---------------------------------- ----------------------------- ----------------------------- ------------------------------ Balance--September 30, 2024 157,762,229 $ 1 $ 328,443 $ (298,201) $ 30,243 =========== ================================== ============================= ============================= ============================== Balance--December 31, 2022 152,135,026 $ 1 $ 325,431 $ (247,927) $ 77,505 Common shares issued upon vesting of restricted share units, net of withholding 297,888 -- (69) -- (69) Share-based compensation -- -- 375 -- 375 Net income (loss) -- -- -- (2,912) (2,912) ----------- ---------------------------------- ----------------------------- ----------------------------- ------------------------------ Balance--March 31, 2023 152,432,914 $ 1 $ 325,737 $ (250,839) $ 74,899 Common shares issued upon vesting of restricted share units, net of withholding 392,204 -- (6) -- (6) Share-based compensation -- -- 624 -- 624 Net income (loss) -- -- -- 2,844 2,844 ----------- ---------------------------------- ----------------------------- ----------------------------- ------------------------------ Balance--June 30, 2023 152,825,118 $ 1 $ 326,355 $ (247,995) $ 78,361 Common shares issued upon vesting of restricted share units, net of withholding 954,738 -- (127) -- (127) Share-based compensation -- -- 647 -- 647 Net income (loss) -- -- -- (15,143) (15,143) ----------- ---------------------------------- ----------------------------- ----------------------------- ------------------------------ Balance--September 30, 2023 153,779,856 $ 1 $ 326,875 $ (263,138) $ 63,738 =========== ================================== ============================= ============================= ============================== CHARLOTTE'S WEB HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands of U.S. dollars) Nine Months Ended September 30, (unaudited) ---------------------------------------------------------------- 2024 2023 ------------------------------- ------------------------------- Cash flows from operating activities: Net loss $ (26,478) $ (15,211) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 7,505 11,509 Inventory provision 3,926 730 Convertible debenture and other accrued interest 2,836 2,916 Share-based
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November 14, 2024 07:07 ET (12:07 GMT)
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