22nd Century Group, Inc. reported preliminary, unaudited results for the fourth quarter and full year ended December 31, 2025, showing continued losses but improved operating metrics and a debt-free balance sheet. The company expects Q4 net revenues of about $3.6 million, down from $4 million in Q3, with full-year revenues of approximately $17.6 million versus $24.4 million in 2024. Fourth-quarter gross loss is projected at $0.8 million, with an operating loss of $2.8 million and net loss from continuing operations of $2.8 million; full-year net loss from continuing operations is expected to narrow to $13.1 million from $15.5 million in 2024. Carton shipments totaled roughly 0.3 million in Q4 and 2.1 million for the year, flat year over year. The company ended 2025 with $7.1 million in cash, no long-term debt after extinguishing its senior secured obligations, and inventory of $4.3 million following harvest of its reduced nicotine tobacco crop. Management said it is focused on expanding distribution of its VLN brands, maintaining cost discipline and advancing toward profitability. The company plans to release its final numbers March 31.
