22nd Century Q1 revenue $22.0M (+143% YoY); net loss $18.2M; guides FY2023 $105-110M

22nd Century Group, Inc.

2023-Q1 EPS reported -$0.08 revenue$21,962,000

Net revenue $22.0M, up 143% YoY; operating loss $17.8M; net loss $18.2M.
Full-year 2023 revenue guidance $105M-$110M, representing 69-77% growth over 2022's $62.1M.
Signed exclusive CDMO+D license/distribution agreements with Cookies and Old Pal worth >$140M over three years.
Record cannabinoid ingredient volumes; hemp/cannabis revenue $13.0M in Q1 2023 vs $0 in Q1 2022.
Cash $23.7M at March 31; $21.1M senior credit facility secured to fund working capital.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

22nd Century Group, Inc. reported first quarter ended March 31, 2023 results: revenue $22.0 Million. Guidance initiated.

Period: first quarter ended March 31, 2023
Revenue: $22.0 Million
Guidance: initiated
Result: reported results

Exact text from the filing

First Quarter 2023 Net Revenues $22.0 Million, Up 143% from the First Quarter 2022

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22nd Century Group, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-008633

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