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Jun 30, 2021
22nd Century Group Q2 2021 Earnings Report
22nd Century Group reported record net sales and strong financial position.
Key Takeaways
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.
Initiated International Launch Process For VLN®, First Sales Planned by First Quarter 2022
First Revenue From Hemp/Cannabis Franchise to Commence in Second Half of 2021
Third Plant-Based Franchise to be Introduced on August 30, 2021
Uplisting common shares to the Nasdaq Capital Market (“Nasdaq”) and will continue to trade under current symbol, “XXII”
Forward Guidance
22nd Century Group expects to fuel VLN® U.S. launch readiness and international market launches, accelerate hemp/cannabis commercialization of disruptive plant lines and intellectual property and launch third plant-based franchise.
Positive Outlook
- Fuel VLN® U.S. launch readiness
- Fuel international market launches
- Accelerate hemp/cannabis commercialization of disruptive plant lines
- Accelerate hemp/cannabis commercialization of intellectual property
- Launch third plant-based franchise
Historical Earnings Impact
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Avg. Return Before/After Earnings
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