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Sep 30, 2023
22nd Century Group Q3 2023 Earnings Report
22nd Century Group reported a net revenue of $17.8 million for Q3 2023, with VLN® expanding to over 4,550 stores and cost reduction initiatives underway.
Key Takeaways
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.
Net revenue for Q3 2023 was $17.8 million.
VLN® availability expanded to over 4,550 stores in 19 states.
Initiated over $15 million in annualized operating cost reductions.
Reduced principal debt balances by $8.1 million in October 2023.
22nd Century Group
22nd Century Group
Forward Guidance
The company is closely monitoring developments regarding the FDA’s proposed menthol ban and rule-making initiatives aimed at reducing nicotine.