22nd Century Group Inc. is a US-based biotechnology firm that develops genetically engineered low-nicotine tobacco products aimed at reducing the health risks of traditional tobacco use. Founded in 1986 and currently led by CEO Michael Victus, the company capitalizes on its proprietary genetic technologies to secure licensing deals and strategic industry collaborations. With a market capitalization around $200 million and modest annual revenues, it has carved out a specialized niche in the tobacco and emerging cannabis sectors. The firm is actively expanding its product pipeline and pursuing regulatory and market opportunities to drive future growth.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
17,587
24,382
32,204
40,501
Cost of Sales
20,724
26,782
40,900
38,654
Gross Profit
(3,137)
(2,400)
(8,696)
1,847
Selling, General & Administrative Expenses
7,591
10,287
31,064
32,231
Research & Development Expenses
688
1,133
2,644
3,578
Other Operating Expenses
150
130
2,527
(327)
Operating Profit
(11,566)
(13,950)
(44,931)
(33,635)
Interest and Investment Income
83
72
219
313
Interest Expense
(1,455)
(2,094)
(9,366)
(55)
Non-Operating Income
(207)
507
(561)
(3,155)
Total Non-Operating Income
(1,579)
(1,515)
(9,708)
(2,897)
Income Before Provision for Income Taxes
(13,145)
(15,465)
(54,639)
(36,532)
Provision for Income Taxes
(28)
30
47
21
Consolidated Net Income
(13,117)
(15,495)
(54,686)
(36,553)
Net Income Attributable to Preferred Dividends
4,679
10,303
9,992
—
Net Income Attributable to Discontinued Operations
8,063
331
(86,089)
(23,248)
Net Income Attributable to Common Shareholders
(9,733)
(25,467)
(150,767)
(59,801)
Basic EPS
-1057.40
-914221.00
-109889000.00
-69303600.00
Diluted EPS
-1057.40
-914221.00
-109889000.00
-69303600.00
Basic Weighted Average Shares Outstanding
9
0
0
0
Diluted Weighted Average Shares Outstanding
9
0
0
0
Shares Outstanding
26
0
0
0
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
7,149
4,422
2,058
2,205
Short-Term Investments
—
—
—
18,193
Total Cash and Cash Equivalents
7,149
4,422
2,058
20,398
Accounts Receivable
3,594
1,698
1,671
1,363
Total Trade Receivables
3,594
1,698
1,671
1,363
Inventories
4,326
2,015
4,346
7,270
Other Current Assets
2,562
3,387
8,202
15,574
Total Current Assets
17,631
11,522
16,277
44,605
Net Property, Plant & Equipment
3,168
4,412
5,287
4,635
Net Intangible Assets
6,224
5,724
5,924
7,212
Other Long-Term Assets
—
15
15
58,199
Total Assets
27,023
21,673
27,503
114,651
Accounts Payable
1,000
2,401
4,445
2,051
Accrued Expenses
4,179
4,245
8,207
4,851
Short-Term Debt
204
254
543
689
Current Portion of Long-Term Debt
—
1,500
5,848
—
Current Portion of Leases
168
261
231
252
Unearned Revenue
1,721
20
726
688
Other Current Liabilities
—
1,281
5,034
4,487
Total Current Liabilities
7,272
9,962
25,034
13,018
Long-Term Debt
504
5,165
8,058
—
Leases
601
1,437
1,698
711
Other Long-Term Liabilities
154
1,097
1,123
4,947
Total Long-Term Liabilities
1,259
7,699
10,879
5,658
Total Liabilities
8,531
17,661
35,913
18,676
Additional Paid-in Capital
414,683
397,883
370,297
333,900
Accumulated Other Comprehensive Income
—
—
—
(111)
Retained Earnings
(398,925)
(393,871)
(378,707)
(237,814)
Total Common Shareholders' Equity
15,758
4,012
(8,410)
95,975
Minority Interests and Other
5,468
—
—
—
Total Shareholders' Equity
21,226
4,012
(8,410)
95,975
Total Liabilities and Shareholders' Equity
27,023
21,673
27,503
114,651
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(5,054)
(15,164)
(140,775)
(59,801)
Depreciation & Amortization
912
1,003
3,454
2,858
Share-Based Compensation Expense
421
380
2,138
—
Other Adjustments
2,571
(3,736)
81,276
12,428
Changes in Trade Receivables
(1,883)
(30)
(18)
(2,881)
Changes in Inventories
(2,050)
6,705
(5,550)
(8,789)
Changes in Accounts Payable
(2,656)
(1,169)
4,752
416
Changes in Accrued Expenses
1,052
(2,760)
(741)
319
Changes in Unearned Revenue
1,701
(714)
—
—
Changes in Other Operating Activities
(2,737)
1,140
(883)
(635)
Cash from Operating Activities
(7,723)
(14,345)
(54,797)
(51,714)
Capital Expenditure
(61)
(141)
(4,050)
(3,657)
Proceeds from Sale of Property, Plant & Equipment
770
22
3,783
409
Purchases of Intangible Assets
(814)
(20)
(961)
(772)
Purchases of Investments
—
—
(4,079)
(74,095)
Proceeds from Sale of Investments
—
—
21,714
101,990
Payments for Business Acquisitions
—
—
(254)
(1,297)
Proceeds from Business Divestments
—
—
663
—
Other Investing Activities
(400)
—
—
—
Cash from Investing Activities
(505)
(139)
16,816
22,578
Issuance of Long-Term Debt
1,655
1,256
19,249
2,162
Repayments of Long-Term Debt
(5,510)
(2,848)
(15,281)
(3,822)
Net Issuance / (Repayments) of Long-Term Debt
(3,855)
(1,592)
3,968
(1,660)
Issuance of Common Shares
5,075
19,486
36,959
35,000
Repurchases of Common Shares
—
(1)
(420)
(149)
Net Issuance / (Repurchases) of Common Shares
5,075
19,485
36,539
34,851
Issuance of Preferred Shares
9,893
—
—
—
Net Issuance / (Repurchases) of Preferred Shares
9,893
—
—
—
Other Financing Activities
(158)
(1,045)
(3,249)
(2,516)
Cash from Financing Activities
10,955
16,848
37,209
30,820
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash