CV Sciences Business Summary

CV Sciences, Inc. (CVSI) operates as a diversified consumer wellness company, generating revenue through the formulation, manufacturing, and multi-channel distribution of hemp-derived cannabidiol (CBD) and plant-based food products. The company’s business model is bifurcated into two primary segments: the Consumer Product Division, which markets dietary supplements, topicals, and pet products under the flagship +PlusCBD™ and +PlusHLTH™ brands, and the B2B/Manufacturing segment, bolstered by the 2024 acquisitions of Elevated Softgels and Extract Labs. These strategic integrations have transitioned CVSI toward an in-sourced manufacturing model, enhancing gross margins and providing contract manufacturing services to third-party nutraceutical brands. CV Sciences maintains the #1 market share position in the natural product retail channel for hemp extracts, competing directly with Charlotte's Web Holdings, Inc., cbdMD, Inc., and Elixinol Wellness. While these competitors focus heavily on e-commerce and broad CBD distribution, CVSI differentiates itself through a rigorous pharmaceutical-grade research pipeline and a growing footprint in the specialty plant-based food sector via its Cultured Foods™ brand. Leadership is spearheaded by CEO Joseph Dowling, who has served as the company’s chief executive since 2018 and was previously its CFO. Dowling brings a high-pedigree background in finance and biotechnology, having served as a Managing Director at Citigroup and President of MediVas, LLC, where he managed strategic alliances with global giants like Pfizer and Merck. He is supported by CFO Joerg Grasser, a former accounting executive at Ballast Point Brewing Company (a Constellation Brands subsidiary), who has been instrumental in the company’s recent cost-efficiency and M&A initiatives. The company was founded by Michael J. Mona, a pioneer in the industrial hemp industry. The Board of Directors includes notable industry experts such as Dr. Jamie Corroon, a leading cannabinoid researcher, and Beth Altman, a former KPMG partner with extensive audit experience. Significant institutional and individual oversight is provided by major shareholders like Clayton Montgomery, who holds a substantial 8.6% stake in the company as of early 2026.