22nd Century Group Q3 2023 Earnings Report

22nd Century Group EPS Results

• Actual EPS: -$620,006.40
• Consensus EPS: -$723,340.80
• Beat/Miss: Beat by +$103,334.40
• One Year Ago EPS: N/A

22nd Century Group Revenue Results

• Actual Revenue: $17.81 million
• Expected Revenue: $20.06 million
• Beat/Miss: Missed by -$2.25 million
• YoY Revenue Growth: N/A

22nd Century Group Announcement Details

• Quarter: Q3 2023
• Date: 11/6/2023
• Time: N/A
• Conference Call Date: Monday, November 6, 2023
• Conference Call Time: 7:00AM ET

22nd Century Group (NASDAQ:XXII)., founded in 1998 and headquartered in New York, is a plant biotechnology company that applies proprietary breeding and gene modulation technologies to tobacco, hemp and related plant species. The company’s core mission is to develop and commercialize plant-based solutions that address public health, consumer wellness and agronomic needs. Its flagship reduced nicotine tobacco platform is engineered to deliver significantly lower levels of nicotine than conventional tobacco products while retaining the sensory characteristics sought by adult smokers.

Through its branded reduced nicotine tobacco products, marketed under the NEXT Generation™ portfolio, and its GenCanna® subsidiary focused on hemp cultivation and cannabinoid extraction, 22nd Century serves both commercial markets and contract research clients. GenCanna produces and distributes hemp-derived phytocannabinoids—including cannabidiol (CBD)—in bulk and finished-goods formats for nutraceutical, wellness and personal care manufacturers across North America and select international markets. The company’s integrated value chain encompasses seed development, greenhouse propagation, analytical testing and large-scale processing.

In addition to product commercialization, 22nd Century offers contract research and development services that leverage its greenhouse, field and laboratory facilities. Its R&D capabilities support trait discovery, regulatory compliance testing and pilot-scale production, enabling partnerships with government agencies, clinical researchers and industry stakeholders. With research centers in New York and North Carolina, the company pursues ongoing collaborations aimed at advancing low-nicotine tobacco science and expanding plant-based cannabinoid applications globally.