Who Is cbdMD? A Brand File on the Public, NSF-Certified CBD Brand
A publicly traded, NSF-GMP, US-Hemp-Authority-certified CBD brand with full-panel COAs — credentialed and transparent on paper. The asterisks: it won't name its testing lab, it carries a disclosed going-concern doubt after narrowly avoiding delisting, and legacy SEC matters trail its former leadership.
By The Kind Buds Desk · 11 min read · Updated 2026-06-29
Kind Buds Brand Transparency Score
A credentialed, publicly traded CBD brand — NSF cGMP, US Hemp Authority, full-panel QR/batch COAs, and full SEC financial disclosure — held to a mid-C by an unnamed testing lab, a disclosed going-concern doubt after a near-delisting, and legacy SEC matters attached to former leadership (not the company).
An opinion grade from our transparent 6-pillar methodology, built on publicly sourced facts.
Strong on substance: public COAs with QR + batch lookup and a genuinely full panel (potency, terpenes, residual solvents, pesticides, heavy metals, microbials), plus US Hemp Authority certification — but it never names the specific testing lab, a real gap.
An independent credential: NSF International GMP registration (with onsite facility inspection), at its Charlotte, NC manufacturing site.
US-grown (Kentucky) non-GMO hemp and a disclosed 'broad spectrum' approach — but not certified organic, with no farms named.
Maximal disclosure as a public company (NYSE American: YCBD): audited financials, named leadership, and a frank going-concern disclosure — though that financial fragility (a near-delisting, large accumulated deficit) is itself a real risk.
A public company with named leadership and a Charlotte, NC base — but a weak Glassdoor (~2.1/5) signals internal strain, and exact headcount wasn't disclosed in our sources.
NSF + US Hemp Authority certifications and no FDA/FTC warning letter — offset by legacy SEC matters tied to former leadership (individuals, not the company), a polarized Trustpilot, and a not-accredited BBB despite an A+.
cbdMD is one of the more visible CBD brands in America — you've probably seen its logo on a Bellator cage or a PGA Tour bag. Behind the sponsorships is something unusual for this category: a publicly traded company (NYSE American: YCBD) that has to open its books. We ran it through our six-pillar Brand Transparency Score and it lands at a C (70/100) — a credentialed, genuinely transparent brand on the product side, with some real fragility and history underneath.
On paper, cbdMD does a lot right: it's NSF-GMP registered and US Hemp Authority certified, it posts full-panel Certificates of Analysis you can pull by QR or batch number, and as a public company its financials and ownership are fully disclosed. The asterisks are specific: it won't name the lab that runs those COAs, it carries a disclosed 'going-concern' doubt after narrowly avoiding a stock delisting, and there are legacy securities matters attached to its former leadership — which, we'll be precise, concern individuals, not the company. Here's the receipts-first reality.
The short version
- Our grade: C (70/100). Strong product-side credentials, offset by financial fragility and legacy baggage.
- Real, independent certifications. NSF International GMP registration (onsite-inspected) and US Hemp Authority certification — outside credentials, not self-asserted.
- Full-panel COAs — but an unnamed lab. Public QR/batch-lookup COAs covering potency, solvents, pesticides, heavy metals, and microbials; the catch is the testing lab is never named.
- Public, and fragile. cbdMD is still listed (NYSE: YCBD) and regained listing compliance in December 2025 after a 2024 delisting notice — but its filings disclose a going-concern doubt and a large accumulated deficit.
- Legacy SEC matters — about people, not the company. Former chairman Martin Sumichrast (settled) and a former funder were subject to SEC actions as individuals; cbdMD, Inc. itself was not a defendant.
| What the public record shows | |
|---|---|
| Legal entity | cbdMD, Inc. (formerly Level Brands, Inc.) |
| Listing | NYSE American: YCBD (regained compliance Dec 2025) |
| HQ | Charlotte, North Carolina |
| CBD brand launched | 2017 (via Cure Based Development) |
| Current CEO/CFO | T. Ronan Kennedy |
| Manufacturing | NSF-registered cGMP facility, Charlotte NC |
| Lab testing | Full-panel QR/batch COAs; lab not named |
| Certifications | NSF GMP · US Hemp Authority |
| Financials | ~$19M revenue; net loss; going-concern doubt disclosed |
| FDA action | None found naming cbdMD |
cbdMD at a glance — the verified facts
The short version
cbdMD is a well-credentialed CBD brand wrapped around a financially fragile public company. On the product, it does the things our score rewards: independent NSF and US Hemp Authority certifications, and full-panel COAs you can pull by batch. As a public company, it also discloses far more than a private brand ever would. Those strengths earn it a solid C.
What holds it back is equally concrete: it won't name its testing lab, its own filings disclose a going-concern doubt after a brush with delisting, and there's a trail of SEC matters around its former leadership. We'll be careful to frame those last items precisely — they involve individuals connected to the company, not findings against cbdMD itself — and we'll credit the genuine transparency the public-company structure provides.
Who's behind it? (Public — and still listed)
cbdMD's parent is cbdMD, Inc., a company that trades on the NYSE American under the ticker YCBD. It was formerly Level Brands, Inc. (renamed in 2019), and the CBD brand itself was built inside Cure Based Development, LLC, acquired in 2018. It's headquartered in Charlotte, North Carolina, and its current CEO/CFO is T. Ronan Kennedy.
Lab testing — full panels, unnamed lab
cbdMD's testing is strong on substance, with one notable omission:
- Public, QR/batch COAs. Reports are reachable via a QR code on packaging or a batch-number lookup on the COA page, with product pages linking the latest batch.
- A genuinely full panel. The COAs cover cannabinoid potency, terpenes, residual solvents, pesticides, heavy metals, and microbial/biological impurities — the complete contaminant screen, not a potency-only scan.
- US Hemp Authority certified, an independent industry certification, on top of the per-batch testing.
Manufacturing and sourcing
On manufacturing, cbdMD carries a real independent credential: its Charlotte, NC facility earned NSF International GMP registration in 2020, which involves onsite inspection — a stronger signal than a self-asserted "cGMP" claim. On sourcing, cbdMD discloses US-grown (Kentucky) non-GMO hemp and markets a proprietary "Superior Broad Spectrum" (THC-free, multi-cannabinoid) extract, with non-GMO, vegan gummy formulations. As with most of the field, though, it is not certified organic and names no specific farms, so the sourcing disclosure is solid-but-not-exceptional. The certifications and testing are the stronger story; the farm-level detail is the thinner one.
The record: certified, fragile, and trailed by history
cbdMD's record is a genuine mix of real credentials, financial strain, and legacy baggage — and the last part needs careful framing:
- The positives. NSF GMP and US Hemp Authority certifications; high-profile sponsorships (official CBD partner of Bellator MMA; golfer Bubba Watson); an A+ BBB rating; and no FDA or FTC warning letter naming cbdMD that we could find (it has instead engaged the FDA proactively via a Citizen's Petition).
- Financial fragility (disclosed). Its FY2025 filings report roughly $19M in revenue, a net loss, an accumulated deficit around $179M, and an explicit 'going-concern' doubt — i.e., the company itself flags substantial doubt about its ability to continue. It has been improving (three years of operating improvement, a strengthened balance sheet, regained listing compliance), but the fragility is real and, to its credit, openly disclosed.
- Legacy SEC matters — individuals, not the company. This is where precision matters most. Former chairman/co-CEO Martin Sumichrast was subject to an SEC civil action over conduct at a separate entity (Stone Street Partners), reportedly resolved via settlement; and a former funder connected to the company (Avi Mirman) faced a partial summary judgment in an unrelated securities matter. cbdMD, Inc. itself was not a defendant in these — they concern individuals connected to the company, not the company's products or the company as a party. We report them as the individual matters they are, not as findings against cbdMD.
- Mixed sentiment. A polarized Trustpilot (split between 5- and 1-star, citing service/fulfillment issues), a weak Glassdoor (~2.1/5), and a BBB that's A+ but not accredited (with reports of unanswered complaints).
The bottom line
In our view, cbdMD is a credentialed, transparent-on-paper brand whose grade is pulled down by an unnamed lab and by genuine company fragility rather than by product problems. Its NSF and US Hemp Authority certifications, full-panel COAs, and public-company disclosure are real strengths most of the category can't match. But you can't verify who tests its products, its own filings flag a going-concern doubt, and its corporate history carries legacy SEC matters around former leadership — context a buyer is entitled to weigh, and that you can only weigh because cbdMD discloses it.
If you buy cbdMD, the product-side verification is there — scan the QR for a full-panel COA, and lean on the NSF and US Hemp Authority certifications — just know you won't learn which lab ran the test. A C (70/100) — well-credentialed product, fragile and historied company. The full methodology shows every point; naming its lab (and continued financial stabilization) would lift this grade (see the notice below).
Questions, answered
Is cbdMD legit?
Yes — and it's more credentialed than most. cbdMD is a publicly traded company (NYSE American: YCBD) whose Charlotte, NC facility is NSF GMP-registered, is US Hemp Authority certified, and posts full-panel Certificates of Analysis (potency, solvents, pesticides, heavy metals, microbials) you can pull by QR or batch. We grade it a C (70/100). The drags: it doesn't name its testing lab, its own filings disclose a going-concern doubt (it narrowly avoided a stock delisting before regaining compliance in December 2025), and there are legacy SEC matters tied to its former leadership — which concern individuals, not cbdMD the company. Solid product credentials, a fragile and historied company.
Is cbdMD still in business / did it get delisted?
cbdMD is still in business and still publicly listed — this is a common point of confusion. In late 2024 the NYSE American notified cbdMD that it had fallen below a continued-listing standard (a stockholders'-equity threshold), which created a real delisting risk. But in December 2025, cbdMD announced it had regained full listing compliance, and it continues to trade under the ticker YCBD. So it was not delisted and did not go private. Its filings do disclose a 'going-concern' doubt and a large accumulated deficit, so the company is financially fragile — but it has reported several years of operating improvement and a strengthened balance sheet.
Are cbdMD's lab tests trustworthy?
On substance, yes — with one real gap. cbdMD posts public COAs reachable by QR code or batch number, and the reports are genuinely full-panel: potency, terpenes, residual solvents, pesticides, heavy metals, and microbial impurities. It's also US Hemp Authority certified and NSF GMP-registered. The gap is that cbdMD says testing is done at 'an ISO-accredited laboratory' but never names the specific lab — so you can't independently judge the lab's credentials the way you can with brands that name theirs. Scan the QR for your batch's full panel; just know the lab itself isn't identified.
Did cbdMD have SEC or fraud problems?
This needs careful framing. The SEC matters connected to cbdMD concern individuals, not the company. Former chairman/co-CEO Martin Sumichrast was subject to an SEC civil action over conduct at a separate entity (Stone Street Partners), reportedly resolved by settlement, and a former funder connected to the company (Avi Mirman) faced a partial summary judgment in an unrelated securities matter. Importantly, cbdMD, Inc. itself was not a defendant in these actions — they involve individuals connected to the company, not findings against cbdMD or its products. We report them as the individual matters they are. Separately, no FDA or FTC warning letter naming cbdMD was found.
Who owns cbdMD?
cbdMD is owned by its public shareholders — cbdMD, Inc. trades on the NYSE American under the ticker YCBD. It was formerly named Level Brands, Inc. (renamed 2019), and the CBD brand was built inside Cure Based Development, LLC, which it acquired in 2018. Its current CEO and CFO is T. Ronan Kennedy. Because it's a public company, its ownership, financials, and leadership are all disclosed in SEC filings — including the less flattering details, like its going-concern doubt and accumulated deficit. We weren't able to pull the full current beneficial-ownership table in this pass; the company's latest 10-K is the authoritative source for that.
How did you research this, and is it fair to cbdMD?
Every claim is from a public source — cbdMD's SEC filings (the advantage of a public company), its COA and certification pages, NSF and US Hemp Authority records, BBB and Trustpilot, and reputable trade and investigative coverage. We credited the genuine strengths (NSF GMP, US Hemp Authority, full-panel COAs, full financial disclosure) and were careful with the rest: we stated clearly that cbdMD is still listed and regained compliance (not delisted), framed the going-concern as its own disclosure, and — most importantly — made clear the SEC matters concern individuals connected to the company, not cbdMD itself, which was not a defendant. The C reflects strong product credentials offset by an unnamed lab and real company fragility. If cbdMD names its lab, we'll update the file — see the notice at the foot of this page.