08:56 AM EDT, 05/14/2025 (MT Newswires) -- Charlotte's Web Holdings (CWEB.TO), a provider of hemp-derived CBD wellness products, on Wednesday reported a narrower first-quarter net loss.

For the three months ended March 31, the net loss shrunk to US$6.2 million, or US$0.04 per basic and diluted share, compared with US$9.7 million, or US$0.06 per share, a year earlier.

Revenue inched up to US$12.3 million compared with US$12.1 million, a year-ago.

"Following three sequential quarters of improvement in 2024, Q1 delivered our first year-over-year revenue growth since 2021 - validating the transformation we initiated 18 months ago," said Charlotte's Web Chief Executive Bill Morachnick. "Our disciplined execution of strategic initiatives - from platform expansion to manufacturing optimization - positions us to build on this throughout 2025 and beyond, delivering value for shareholders and continued innovation for consumers."

Shares of the company closed up 14% to $0.125 on Tuesday on the Toronto Stock Exchange.