22nd Century Group, Inc.

Listed Company

XXIICIK 0001347858NasdaqNon-AcceleratedSmaller ReportingCigarettesFloridaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-5.05M

Total Assets

$27.02M

Equity

$15.76M

Shares Out

4.46M

Op. Cash Flow

$-7.72M

XXII$4.27−7.38% · past yearDBEQ Basic

Daily closing prices

Business

22nd Century Group manufactures and distributes reduced-nicotine-content cigarettes under the VLN® brand, the only combustible tobacco products with FDA-authorized Modified Risk Tobacco Product designation for minimally or non-addictive nicotine levels. The company produces VLN® cigarettes with substantially lower nicotine than conventional cigarettes, along with contract manufacturing of cigarettes and filtered cigars for established tobacco brands. The company operates a vertically integrated manufacturing facility in North Carolina and distributes VLN® products through convenience stores and other retail outlets across the United States, with expansion into a "House of Brands" strategy leveraging contract manufacturing relationships.

Summary from 10-K filed 2026-03-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues, net	18	24	32	—	—
Cost of goods sold	10	14	—	—	—
Excise taxes and fees on products	11	13	16	—	—
Gross loss	−3	−2	−9	2	1
Sales, general and administrative	8	10	31	32	26
Research and development	688,000	1	3	4	4
Other operating expense, net	150,000	130,000	3	−327,000	—
Total operating expenses	8	12	36	35	30
Operating loss from continuing operations	−12	−14	−45	−34	−28
Other income (expense), net	−207,000	507,000	334,000	−366,000	—
Interest income	83,000	72,000	219,000	313,000	321,000
Interest expense	−1	−2	−9	—	—
Total other income (expense), net	−2	−2	−10	−3	−4
Loss from continuing operations before income taxes	−13	−15	−55	−37	−33
(Benefit) provision for income taxes	−28,000	30,000	47,000	21,000	14,000
Net loss from continuing operations	−13	−15	−55	−37	—
Income from discontinued operations before income taxes	8	331,000	−86	−24	—
Income from discontinued operations	8	331,000	−86	−23	—
Net loss	−5	−15	−141	−60	−33
Comprehensive loss	−5	−15	−141	−60	−33
Deemed dividends	−5	−10	−10	—	—
Net loss available to common shareholders	−10	−25	−151	−60	—
Basic loss per common share from continuing operations (in dollars per share)	−71.26	−27,813	−5,777	−2.84	—
Basic income per common share from discontinued operations (in dollars per share)	43.81	594.83	−9,094	−1.81	—
Basic loss per common share from deemed dividends (in dollars per share)	−25.42	−18,493	−1,055	—	—
Basic loss per common share (in dollars per share)	−52.87	−45,711	−15,926	−4.65	−0.21
Diluted loss per common share from continuing operations (in dollars per share)	−71.26	−27,813	−5,777	−2.84	—
Diluted income per common share from discontinued operations (in dollars per share)	43.81	594.83	−9,094	−1.81	—
Diluted loss per common share from deemed dividends (in dollars per share)	−25.42	−18,493	−1,055	—	—
Diluted loss per common share (in dollars per share)	−52.87	−45,711	−15,926	−4.65	−0.21
Weighted average shares outstanding - basic (in shares)	184,067	557	9,467	13	156
Weighted average shares outstanding - diluted (in shares)	184,067	557	9,467	13	156

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	7	4	2	2	—
Accounts receivable, net	4	2	2	1	585,000
Inventories	4	2	4	7	3
Insurance recoveries	—	768,000	4	5	—
GVB promissory note, net	—	500,000	2	—	—
Prepaid expenses and other current assets	3	1	1	2	2
Current assets of discontinued operations held for sale	0	1	1	14	—
Total current assets	18	12	16	45	54
Property, plant and equipment, net	2	3	3	4	6
Operating lease right-of-use assets, net	728,000	2	2	943,000	2
Intangible assets, net	6	6	6	7	8
Other assets	—	15,000	15,000	3	4
Total assets	27	22	28	115	76
Notes and loans payable-current	204,000	254,000	543,000	689,000	—
Current portion of long-term debt	—	2	6	—	—
Operating lease obligations	168,000	261,000	231,000	252,000	308,000
Accounts payable	1	2	4	2	2
Accrued expenses and other current liabilities	836,000	1	—	—	—
Accrued litigation	—	768,000	4	—	—
Accrued excise taxes and fees	3	2	2	1	1
Contract liabilities	2	20,000	—	—	—
Current liabilities of discontinued operations held for sale	—	1	3	4	—
Total current liabilities	7	10	25	13	8
Notes and loans payable	504,000	—	—	—	—
Operating lease obligations	601,000	1	2	711,000	1
Long-term debt	—	5	8	—	—
Other long-term liabilities	154,000	1	1	344,000	21,000
Total liabilities	9	18	36	19	10
Commitments and contingencies (Note 11)	—	—	—	—	—
Series A convertible preferred shares, $0.00001 par value; 10,000,000 shares authorized, 9,650 shares issued and outstanding at December 31, 2025 and 0 at December 31, 2024, respectively	3	—	—	—	—
Capital in excess of par value	415	398	370	334	244
Accumulated deficit	−399	−394	−379	−238	−178
Total shareholders' equity	16	4	−8	96	66
Total liabilities, mezzanine equity and shareholders' equity	27	22	28	115	76

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−5	−15	−141	−60	−33
Impairment of long-lived assets - held for sale	293,000	—	—	—	—
Impairment of long-lived assets	150,000	68,000	—	1	78,000
Amortization and depreciation	912,000	1	4	—	—
Amortization of right-of-use assets	245,000	255,000	908,000	733,000	288,000
Other non-cash gains	−32,000	−947,000	−15,000	563,000	—
Provision for credit losses	388,000	1,000	1	770,000	—
(Gain) loss on sale or disposal of property, plant, and equipment	−12,000	127,000	73,000	−368,000	—
Debt related charges included in interest expense	2	2	8	—	—
Equity-based compensation	421,000	380,000	3	5	4
Change in fair value of warrant liabilities	207,000	−492,000	−364,000	—	—
Change in fair value of derivative liability	—	−556,000	557,000	—	—
Deferred income taxes	7,000	8,000	434,000	−434,000	—
Change in inventory reserves	−261,000	−4	9	237,000	317,000
Accounts receivable	−2	−30,000	−18,000	−3	2
Inventories	−2	7	−6	−9	−1
Prepaid expenses and other assets	−1	159,000	451,000	−920,000	−547,000
Accounts payable	−3	−1	5	416,000	11,000
Accrued expenses and other current liabilities	−253,000	−3	—	—	—
Accrued excise taxes and fees	1	−196,000	811,000	153,000	−421,000
Contract liabilities	2	−714,000	—	—	−153,000
Other liabilities	−1	981,000	−334,000	285,000	−766,000
Net cash used in operating activities	−8	−14	−55	−52	−23
Acquisition of patents, trademarks, and licenses	−814,000	−20,000	−961,000	−772,000	−326,000
Acquisition of property, plant and equipment	−61,000	−141,000	−5	−4	−745,000
Proceeds from the sale of property, plant and equipment	770,000	22,000	283,000	409,000	—
Issuance of 2025 GVB promissory note	−500,000	—	—	—	—
Payments received from 2025 GVB promissory note	100,000	—	—	—	—
Net cash used in investing activities	−505,000	−139,000	17	23	−28
Payments on notes payable	−1	−2	−6	−4	−3
Proceeds from issuance of notes payable	2	1	2	2	—
Payments of penalties from long-term debt	−28,000	—	—	—	—
Payments of long-term debt	−4	−1	−10	—	—
Net proceeds from warrant exercise	5	3	3	—	12
Net proceeds from Series A convertible preferred stock	10	—	—	—	—
Payments of deferred offering costs	−130,000	—	—	−3	−2
Proceeds from issuance of common stock	—	16	—	35	40
Payment of common stock issuance costs	—	−1	—	—	—
Taxes paid related to net share settlement of RSUs	—	−1,000	−420,000	−149,000	−469,000
Net cash provided by financing activities	11	17	37	31	51
Net increase in cash and cash equivalents	3	2	−962,000	2	307,000
Cash paid during the period for interest	241,000	722,000	1	34,000	37,000
Cash (received) paid during the period for income taxes	−35,000	22,000	40,000	14,000	—
Capital expenditures incurred but not yet paid	45,000	43,000	118,000	94,000	1
Deemed dividends	5	10	10	—	—
Stock issued in connection with settled indebtedness	500,000	2	—	—	—
Non-cash licensing arrangement	309,000	250,000	4	—	—
Right-of-use assets and corresponding operating lease obligations	−666,000	—	5	—	2
Stock issued for extinguishment of Subordinated Note	—	4	—	—	—
Payment of 2023 GVB promissory note	500,000	2	3	—	—
Payment of debt issuance costs	—	603,000	—	—	—
Equity conversion of Senior Secured Credit Facility	3	3	—	—	—

Filings

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Frequently asked questions

What is 22nd Century Group, Inc.'s CIK number?

22nd Century Group, Inc.'s SEC CIK number is 0001347858 (1347858). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find 22nd Century Group, Inc.'s SEC filings?

All of 22nd Century Group, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did 22nd Century Group, Inc. last report earnings?

22nd Century Group, Inc. (XXII) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-26-021582). This is 22nd Century Group, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is 22nd Century Group, Inc.'s most recent earnings 8-K?

22nd Century Group, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001493152-26-021582. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View 22nd Century Group, Inc.'s latest earnings 8-K →
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