secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001558370-23-008633
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000155837023008633/0001558370-23-008633-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000155837023008633/xxii-20230509x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-008633

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer