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22nd Century Group (XXII) investor relations material
22nd Century Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Transitioned to a growth-focused, technology-driven branded products strategy centered on VLN® low-nicotine products, with expanded store presence and distribution agreements.
Achieved a debt-free balance sheet and improved cash resources, including a $9.5 million insurance settlement related to a facility fire.
Exited the hemp/cannabis business in late 2023, with all reported figures reflecting continuing operations.
Operating expenses decreased year-over-year, but gross margin declined due to lower volumes and product mix shifts.
Positioned as the only tobacco company supporting the FDA's low nicotine mandate and tobacco harm reduction.
Financial highlights
Net revenue for Q3 2025 was $4.0 million, down from $4.1 million in Q2 2025 and $5.9 million year-over-year.
Gross loss for Q3 was $1.1 million, compared to a $0.6 million loss in Q2, due to lower volume and restructuring costs.
Net loss from continuing operations was $3.8 million for Q3, and $10.3 million for the nine months ended September 30, 2025.
Adjusted EBITDA loss was $2.9 million, compared to a $2.6 million loss in Q2 and $3.2 million year-over-year.
Consolidated net income for Q3 (including discontinued operations) was $5.5 million, driven by the $9.5 million insurance settlement.
Outlook and guidance
Targeting EBITDA break-even by Q2 2026, with sequential improvement expected in Q4 2025 and throughout 2026.
Full-scale launch of rebranded VLN® cigarettes in over 1,700 stores expected in Q4 2025.
Well-funded entering 2026, with $14 million in cash post-quarter and an at-the-market facility for opportunistic capital raises.
Ongoing initiatives to expand state authorizations, store counts, and new product launches, including international and filtered cigar products.
Management continues to implement cost savings and pursue financing strategies, but there is substantial doubt about the ability to continue as a going concern without additional capital.
VLN® gross margin improvement timeline?
Cash deployment for VLN® market buildout?
VLN® distribution expansion beyond 1,000 stores?
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Next 22nd Century Group earnings date
Q4 20259 Mar, 2026
Next 22nd Century Group earnings date
Q4 20259 Mar, 2026
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Frequently asked questions
22nd Century Group Inc. is a biotechnology company focused on plant-based technology aimed at improving health and reducing harm in various industries. The company specializes in the genetic engineering of plants, with a primary focus on developing low-nicotine tobacco plants and hemp/cannabis plants with optimized cannabinoid profiles. 22nd Century Group’s technology is designed to support the development of products with reduced nicotine content for the tobacco industry and enhanced cannabinoids for the hemp and cannabis sectors. The company is headquartered in Buffalo, New York, and its shares are listed on the NASDAQ.
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