Charlotte's Web Holdings, Inc. (TSX:CWEB) (OTCQX:CWBHF) reported financial results for the first quarter ended March 31, 2022.
"While our e-commerce traffic was lower compared to prior periods, subscriptions more than doubled since Q1-2021. With e-commerce revenue down $3.0 million year-over-year, rebuilding traffic and conversions remain key priorities for us in e-commerce, which is our largest revenue channel," said Jacques Tortoroli, CEO. "In our retail business, shipping was disrupted in January due to a two-week closure after a local wildfire in Boulder County. Despite the slow start, the overall business improved through the quarter with March being the largest revenue month of the quarter. The quarter did not benefit from our new retail sales organization which was put in place in April."
