22nd Century Group (XXII) Reports Third Quarter 2023 Financial Results
Sales of VLN were modest in the quarter as the brand is still largely unknown to our target market and our marketing capabilities are limited given our current financial condition,” said John Miller, Interim Chief Executive Officer of 22nd Century Group.
- Sales of VLN were modest in the quarter as the brand is still largely unknown to our target market and our marketing capabilities are limited given our current financial condition,” said John Miller, Interim Chief Executive Officer of 22nd Century Group.
- Gross profit for the third quarter of 2023 was $(2.0) million, as compared to $0.6 million in the prior year period.
- Adjusted EBITDA posted a third quarter of 2023 loss of $11.2 million, compared to the prior year period loss of $11.0 million, and compared to second quarter of 2023 of $16.0 million.
- In light of the ongoing strategic alternatives process, as previously disclosed, 22nd Century Group, Inc. will not be holding a conference call event in conjunction with its third-quarter results report.