third Thank the fiscal you, or flat sales total. Marty. welcome, were And million $XX.X net quarter everyone. On for of GAAP basis, a prior the total year's XXXX over
June this was sequential X XX% of million, Although reported same period increase of a a we last the in million second year. of to XX% XXXX, fiscal the XX, for $XX.X from quarter total fiscal $XX.X sales XXXX, ending net months a compared dip the of
in million of business sales quarter direct-to-consumer generated $X.X e-commerce fiscal quarterly Our the XXXX. third of
compared of period a comparative quarter for the decrease, generated a this for June $XX.X for to X.X% XXXX, the of million X sales million net or increase. months While and quarterly XX% sales e-commerce year fiscal months. $XX.X the XX, year-over-year represented our was total X E-commerce ending net XX% prior
of Our the XXXX. wholesale XX.X% as fiscal for third comparative XXXX, million net quarter $X.X for in fiscal business sales to the $X.X million up generated compared of quarter
of million For business recent Quality $X.X respectively we and during opportunity Certification. a NASC quarter, strong generated the net million, revenue XXXX sales. and CBD the with are X wholesale $X.X about Paw increase optimistic months ending saw and the sales XXXX, XX, our June our Seal
at in and for strong, prior as GAAP third year XX% fiscal a compared period. quarter percent Our of fiscal XXXX the from remains to sales came gross of net the comparative XX% profit
and XX% on between operating maintain respectively, we months and Based percentage our our June asset ending model, to the For light and X expect XX, a on gross category and was CBD sales margins XX% as cbdMD business. profit and profit our net gross mix, XX%, of ongoing sales. Paw XX% total leverage our XXXX, XXXX
we a gross in to blending future business consolidated purposes, Direct incremental margins will the modeling For our have CBD small Online overall quarters. anticipate impact
reduced operating in XX, fiscal advertising, to million Other and in $XXX,XXX June compensation, the contributing quarter was and up marketing $XXX,XXX increase were as regulatory million have the which this from factors $X in a a stock we totaled up over and quarter increase XXXX quarter. increase due for which million in influencer expense. mainly $X.X XX, $X.X R&D Our $XX.X quarter. non-cash prior XX.X% million, were expenses spend, XXXX, expenses increase already Operating to compared June
$XX.X loss the XX the of operating million months operations as for XXXX, declined X million increase XXXX. [ph] in increase in $XXX,XXX approximately loss a gross $XX.X marketing the over fiscal quarter. is operating $X.X the the June XX, profit, to increased and $XXX,XXX year million compared prior $X in June influencer compensation the comparative $X.X For from resulted quarter Overall, expenses million this period XXXX million from in ending GAAP to primarily attributable and period. from March with R&D. This in million to XXXX of income Sequentially, $X.X $XXX,XXX in expense
X our For and million $XX.X months million, and operations totaled XXXX from ending June the XX, XXXX, GAAP respectively. loss $XX
operating to quarter of quarter next $X.XX $XXX,XXX over on continue the we consolidated few depreciation prior primarily to year accrued expenses ongoing extinguishment third of in cbdMD XXXX anticipate expense million stock we $XXX,XXX this $XXX,XXX the resulting the of a one-time acquisition XXXX. December third quarter. increase Therapeutic to $X.X Other second contingent for aforementioned non-GAAP on investment, include loss adjustments related operating We the expense income XXXX and XXXX $XXX,XXX, in as invest of the adjusted Development. $XXX,XXX non-GAAP the to albeit loss fiscal And operating expenses. The non-GAAP $X.X addition liability of a period in statement mission. include Therapeutics past adjusted the invested of to is fiscal in to of Our loss in adjusted the a non-cash and R&D gain compensation the in as non-GAAP attributable gain non-cash fiscal quarters for increase from at levels, our of expense, related quarter a loan Cure operating compared lower million operating in during PPP Based million CBD income expense
of end re-classed valuation to $XXX,XXX capital corresponding shares The liability earn-out the additional third we period. and the earn-out May, a earn-out subsequently million to the of liability were valuation in $X.XX re-valued issuance, paid-in At non-cash total common liability the the result of the from contingent quarter, a share. of shares remaining per price change from X.X primarily of consolidated $X.X in the the market we for to booked issued time decrease of in The contingent XXX,XXX on gain resulting during quarter. a at contingent stock our balance decrease the a During sheet. are the $X.XX million period
cash adjusted are from of capital. million $X.X approximately We working include operating million non-GAAP $XXX,XXX $XX,XXX components cash approximately utilized XX, million and coming of main $XX.X investments September approximately had working XX, paid to we June the and cash. million compared equivalents capital balance million of quarter, cash a reduction approximately of XXXX. XXXX, the $XX equivalents $XX.X The of with of loss approximately During cash of capital $X.X on of working capital of $XX.X of and million dividends, cash and as
XXXX, of to Our XX, from million. September December stock June net increased current in preferred primary [Technical current was approximate XXXX. assets driver XXXX increase in as $XX A the XX% offering approximately of A proceeds of the asset Difficulty] our Series from
manufacturing of and which our million notes $X.X June $X.X liabilities as of current XXXX, XX, company approximately equipment accounts The $XXX,XXX the on payable $X.X million, of were facility. for expenses. As as company's accrued total financing approximately million has
the sheet remains preferred July from offering. even balance proceeds after so our Our more strong,
anticipate quarter, made number revenue slightly business. anticipated a to potential in personnel have expected for of in business of a drive as get marketing Since launches, protect the we and number inventory of against reduce aggressive issues demand track our preparation into align mid-third on and chain and to new Going as levels steps to our distribution and increase precautionary an to taking changes fall, are in product spend we back today's core our environment from well supply increasing performance future partnerships. fiscal of measures
available to this from number And into acquisition expect of like a turn remain calendar working now quarter business. launch of new have confident going products with over we call outlook the the maximize the the half of this coupled in other about With are synergies optimistic we consolidated business positive that, initiatives, operations our to We the to back the our of Additionally, set in coming to are months. and the during second to year. our Marty. recent I'd
