22nd Century Group, Inc. reported its fourth-quarter and full-year 2025 results, highlighting strategic growth and a strengthened financial position. The company emphasized expansion of its VLN and Partner VLN product lines, increased retail distribution, and progress toward profitability. CEO Larry Firestone noted that 2025 saw a shift to higher-margin branded products, partnerships with major retailers, and the development of a tobacco harm-reduction category. The company ended 2025 debt-free with $7.1 million in cash and eliminated over $8 million in legacy debt, also receiving a $9.5 million insurance settlement from its 2022 Grass Valley facility fire.
Financially, fourth-quarter net revenues were $3.5 million, down from $4 million in Q3, while net loss improved to $2.8 million versus $3.8 million previously. Adjusted EBITDA loss narrowed to $2.4 million. For the full year, net revenues were $17.6 million, down 28% from 2024, with a net loss of $13.1 million. Product-wise, cigarette sales increased slightly to $2.6 million in Q4, VLN product sales continued to grow with 8,800 cartons shipped, and Pinnacle VLN expanded to nearly 1,500 stores in a top-5 convenience chain.
Looking ahead, 22nd Century plans to expand retail availability, increase consumer awareness, scale VLN distribution globally, and maintain active engagement with FDA regulators and public health stakeholders.
