Turning Point Brands, Inc. reported Q3 2025 net sales up 31.2% year-over-year to $119 million, driven by strong performance in its Modern Oral segment, which surged 627.6% to $36.7 million, now representing 31% of total sales. Adjusted EBITDA rose 17.2% to $31.3 million, and net income jumped 70.3% to $21.1 million. The company raised its 2025 Adjusted EBITDA outlook to $115–120 million (from $110–114 million) and increased Modern Oral sales guidance to $125–130 million (from $100–110 million).
CEO Graham Purdy said the results “exceeded expectations,” highlighting the strong growth of Modern Oral products and progress toward qualifying U.S. white pouch production lines by early 2026. The Stoker’s segment grew 80.8% to $74.8 million, while the Zig-Zag segment declined 10.5% to $44.2 million. TPB ended the quarter with $201 million in cash and $267.8 million in total liquidity.


