22nd Century Group Reports 2024 Financial Results

22nd Century Group ( (XXII) ) has released its Q4 earnings. Here is a breakdown of the information 22nd Century Group presented to its investors.

22nd Century Group, Inc., a pioneering nicotine harm reduction company, focuses on providing smokers with alternatives to control their nicotine consumption through its flagship product, the VLN® cigarette, which contains 95% less nicotine than traditional cigarettes.

In its latest earnings report, 22nd Century Group announced a challenging year for 2024, marked by a decrease in net revenues to $24.4 million from $32.2 million in 2023. Despite the financial hurdles, the company is optimistic about its 2025 growth strategy, which includes launching new VLN® branding and expanding partnerships with brands like Smoker Friendly.

Key financial highlights from the report include a sequential decrease in net revenues to $4.0 million in the fourth quarter, alongside an increased net loss of $4.2 million. The company also reported an adjusted EBITDA loss of $3.9 million. Strategic moves include compliance with new FDA standards for nicotine yield and a new five-year agreement with Smoker Friendly to cover existing and new premium products.

Looking forward, 22nd Century Group aims to capitalize on its transformative efforts from 2024 by focusing on growth across all revenue lines in 2025. The company is set to relaunch its reduced nicotine VLN® cigarette business, encompassing both branded and private label partner products, positioning itself for a promising start to the new year.