22nd Century Group Earnings Reports

In Q4 2024, 22nd Century Group recorded net revenues of $4.02 million, a sequential decline reflecting lower contract manufacturing revenues and VLN® product rebates. The company reported a net loss of $4.25 million and an adjusted EBITDA loss of $3.89 million, highlighting ongoing challenges as they restructure and prepare for product relaunches.

22nd Century Group reported a decrease in net revenues to $5.9 million, a gross profit loss of $(0.6) million, an increase in operating loss to $3.4 million, and an increase in net loss to $3.6 million for the third quarter of 2024. The company remains focused on achieving EBITDA breakeven results in the first quarter of 2025 and is moving forward with plans to launch additional products, including VLN® SKUs within key customer brand families.

22nd Century Group reported a 22.8% sequential increase in net revenues to $7.9 million. The company achieved a gross profit of $0.6 million, a significant improvement from the previous quarter's loss. Operating and net losses also decreased substantially, and the company is targeting cash positive operations by Q1 2025.

22nd Century Group reported a net revenue of $6.5 million. The company significantly reduced its operating expenses and cash used in operations. They also secured new contracts expected to boost second quarter revenue.

22nd Century Group reported a net revenue of $7.4 million for Q4 2023, a decrease from $10.0 million in the prior year period. The company exited its hemp/cannabis operations to focus on tobacco harm reduction and contract manufacturing. Operating loss was $14.2 million, and net loss was $22.1 million, or $0.66 per share.

22nd Century Group reported a net revenue of $17.8 million for the third quarter of 2023. The company expanded the availability of VLN® to more than 4,550 stores in 19 states and initiated over $15 million in annualized operating cost reductions. The company is also pursuing strategic alternatives to maximize shareholder value.

22nd Century Group's Q2 2023 net revenues increased by 62% to $23.4 million. The company launched VLN® sales in key states, achieved record GVB ingredient volumes, and initiated a cost reduction program targeting $15+ million in annualized savings. They updated their 2023 revenue outlook to $80 million to $90 million.

22nd Century Group reported a strong first quarter with net revenues of $22.0 million, a 143% increase compared to Q1 2022. The company introduced its first revenue guidance, projecting $105 million to $110 million for 2023. Growth is expected to be driven by VLN® sales, Pinnacle CMO sales, cannabinoid ingredient volumes, and new CDMO+D hemp/cannabis agreements.

22nd Century Group reported a 141% increase in net revenues for Q4 2022, reaching $19.2 million, driven by growth in both tobacco and hemp/cannabis segments. However, the company experienced a net loss of $26.3 million, impacted by the Grass Valley fire and increased operating expenses related to the VLN® launch and GVB Biopharma acquisition. The company is focused on scaling VLN® sales and achieving cash-positive operations in its hemp/cannabis business in the first half of 2024.

22nd Century Group reported a significant increase in net sales for Q3 2022, driven by the acquisition of GVB Biopharma and increased contract manufacturing volumes. The company is expanding its VLN® product launch and focusing on key geographies and markets. The company's hemp/cannabis revenue is also growing, with plans to increase gross margin through the startup of a new crude extraction plant and additional certifications.

22nd Century Group reported a 73% increase in net sales to $14.5 million for the second quarter of 2022, driven by increased contract manufacturing volumes and the acquisition of GVB Biopharma. The company's VLN pilot in Chicago exceeded expectations, leading to accelerated expansion plans in Colorado. The acquisition of GVB Biopharma is expected to double the company's total revenue and provide consumers with hemp/cannabis products.

22nd Century Group reported a 33% increase in net sales for the first quarter of 2022, reaching $9.0 million. The company launched its VLN® pilot program in Chicago with Circle K and began VLN® shipments to South Korea for its first international launch.

22nd Century Group reported an 8.9% increase in net sales for the fourth quarter of 2021, driven by increased contract manufacturing sales. However, the company's operating loss widened due to increased sales, general and administrative expenses, and a reduction in gross profit.

22nd Century Group reported a 6.9% increase in net sales for the third quarter of 2021, driven by increased contract manufacturing sales. The company's gross profit improved, marking the seventh consecutive quarter of year-over-year improvement. However, the operating loss increased due to higher sales, general, and administrative expenses.

22nd Century Group reported a record second quarter net sales of $8.4 million, up greater than 30% from the second quarter of 2020. The company is executing from a strong financial position with cash and cash equivalents of $62.3 million as of June 30, 2021.

22nd Century Group reported first quarter 2021 financial results, with net sales revenue of $6.8 million and a net loss of $5.0 million. The company is focused on securing FDA authorization for VLN® and advancing its hemp/cannabis business.

22nd Century Group reported net sales revenue of $7.3 million for Q4 2020, consistent with the prior-year period. The company's gross profit improved, while the net loss increased. The company is focused on securing Modified Risk Tobacco Product (MRTP) authorization for VLN® and advancing its hemp/cannabis strategy.

22nd Century Group reported a 13.1% increase in net sales revenue to $7.3 million for the third quarter of 2020 compared to the same period in 2019. The company's net loss improved by $6.0 million, and its financial position remains strong with $26.8 million in cash, cash equivalents, and short-term investment securities.

22nd Century Group reported a net sales revenue of $6.4 million for the second quarter of 2020, an 11% increase from the prior year. The company also experienced continued gross profit margin expansion and improved operating loss.

22nd Century Group reported a 12% increase in revenue compared to the same quarter last year. The company also saw a 16% reduction in operating expenses compared to the same quarter last year.

22nd Century Group filed its Annual Report on Form 10-K for the year ended December 31, 2019. The company is optimistic about the potential authorization of its Modified Risk Tobacco Product application and is making progress in the legal hemp/cannabis space through a partnership with KeyGene.