22nd Century Group, Inc. (NASDAQ: XXII) net revenue for the Q4 2022 was $19.2 million, an increase of 141.3% from $8 million in Q4 2021.
Q4 2022 Financial Highlights
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Gross loss was $646,000, an unfavorable decrease of 379.7% compared to gross profit of $231,000 in the prior year period.
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Net loss was $26.3 million, compared to prior year $14.0 million, representing a net loss per share of $0.12.
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Adjusted EBITDA was a loss of $13.9 million, compared to prior year $7.5 million.
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As of December 31, 2022, the company had $21.2 million in cash, cash equivalents, and short-term investment securities.
“The fourth quarter and 2022 were transformative for 22nd Century as we launched an aggressive commercial rollout of our FDA authorized VLN reduced nicotine content cigarettes and accelerated revenue and margin growth opportunities with our …