22nd Century Group Q3 net revenue $17.8M, operating loss $71.5M with $57M non-cash charges

22nd Century Group, Inc.

2023-Q3 EPS reported -$6.60 revenue$63,200,000

Net revenue $17.8M, down from $19.4M YoY; gross profit -$2.0M vs +$0.6M.
Operating loss $71.5M includes $33.4M goodwill impairment and $23.3M restructuring costs.
Adjusted EBITDA loss $11.2M, slightly worse than $11.0M loss in prior year quarter.
VLN stores expanded to over 4,550 in 19 states from ~1,100 in 14 states at June 30.
Reduced principal debt by $8.1M in Oct; raised $5.25M in equity same month.

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 0.6

22nd Century Group, Inc. reported third quarter ended September 30, 2023 results: revenue $17.8 million.

Period: third quarter ended September 30, 2023
Revenue: $17.8 million
Result: reported results

Exact text from the filing

specific reference in such filing. --- EX-99.1 (EX-99.1) --- 22nd Century Group (XXII) Reports Third Quarter 2023 Financial Results ● Third quarter 2023 net revenue of $17.8 million ● Expanded VLN ® availability to more than 4,550 stores in 19 states ● Proposed FDA menthol ban regulation now undergoing review at OMB ● GVB bulk ingredient volume of 49,000 kg

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Source: SEC EDGAR

accession 0001558370-23-017661

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