08:35 AM EDT, 03/21/2024 (MT Newswires) -- Charlotte's Web Holdings Inc. (CWEB), a provider of full spectrum hemp extract wellness products, said Thursday that it narrowed its fourth-quarter net loss to US$8.5 million, or US$0.06 per share, from a loss of US$35.2 million, or US$0.23 per share, a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was US$15.9 million, down from US$18.9 million a year earlier.

Adjusted EBITDA loss for Q4 was US$6.5 million, wider than a loss of US$5.3 million a year ago.

The company's cash and working capital as of Dec. 31, 2023, were US$47.8 million and US$54.5 million, respectively, as compared with US$67 million and US$82.3 million on Dec. 31, 2022, respectively.