Sector: Consumer Non-Cyclicals | Industry: Tobacco |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 8560 Main St Ste 4 WILLIAMSVILLE NY 14221-7435 |
Tel: | 1-214-5978200 |
Website: | https://www.xxiicentury.com |
IR: | See website |
Key People | ||
Lawrence D. Firestone Chairman of the Board, Chief Executive Officer | R. Hugh Kinsman Chief Financial Officer | Daniel Otto Chief Financial Officer | Jonathan Staffeldt General Counsel |
Business Overview |
22nd Century Group, Inc. is an agricultural biotechnology company. The Company is focused on tobacco harm reduction, reduced nicotine tobacco and improving health and wellness through plant science. Additionally, the Company provide contract manufacturing services for conventional combustible tobacco products for third-party brands. The Company operates through a single segment named Tobacco. Its tobacco segment is engaged in contract manufacturing organization (CMO) customer contracts that consist of obligations to manufacture the customers' branded filtered cigars and cigarettes. The tobacco segment is engaged in the sale of its reduced nicotine content (RNC) cigarettes, sold under the brand name VLN, or research cigarettes sold under the brand name SPECTRUM. It uses plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding to deliver solutions for the life science and consumer products. |
Financial Overview |
For the fiscal year ended 31 December 2023, 22nd Century Group Inc revenues decreased 20% to $32.2M. Net loss applicable to common stockholders excluding extraordinary items increased 77% to $64.7M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Interest expense increase from $55K to $9.4M (expense). |
Employees: | 64 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $21.97M as of Dec 31, 2023 |
Annual revenue (TTM): | $32.20M as of Dec 31, 2023 |
EBITDA (TTM): | -$38.32M as of Dec 31, 2023 |
Net annual income (TTM): | -$64.68M as of Dec 31, 2023 |
Free cash flow (TTM): | -$60.60M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $12.39M as of Dec 31, 2023 |
Shares outstanding: | 5,603,278 as of Apr 8, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |