22nd Century Group, Inc. (XXII) Q2 2025 Earnings Call Transcript

22nd Century Group, Inc. (NASDAQ:XXII) Q2 2025 Earnings Conference Call August 14, 2025 8:00 AM ET

Company Participants

Daniel A. Otto – CFO & Principal Accounting Officer
Lawrence D. Firestone – President, CEO & Chairman
Matthew Kreps – Corporate Participant
Investor Relations – Corporate Participant

Conference Call Participants

Andrew White – Unidentified Company

Operator

Good morning, and welcome to the 22nd Century Group’s Second Quarter 2025 Results Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Matt Kreps. Please go ahead.

Matthew Kreps

Investor Relations

Hello, and welcome to 22nd Century’s second quarter 2025 results conference call. Joining me today are Larry Firestone, CEO; and Dan Otto, CFO. Earlier today, we issued a press release announcing our results for the quarter ended June 30, 2025. The release and 10-Q are available in the Investors section of our website at xxiicentury.com.

Today’s call will include prepared remarks from Larry and Dan updating you on 22nd Century’s business, operations, strategy and financial results through June 30, 2025, and subsequent events post the close of quarter end.

Before we begin, a few reminders for today’s call. Some of the statements made today are forward-looking. Forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those contemplated by these statements. Additional information regarding these factors can be found in our annual, quarterly and other reports filed with the SEC.

During today’s call, we may also discuss non-GAAP financial measures, including adjusted EBITDA, which we define as earnings before interest, taxes, depreciation and amortization; as adjusted for certain noncash and nonoperating expenses. And net debt calculated as a total principal amount of debt outstanding less cash and cash equivalents. For more details on these measures, please refer to our release issued earlier today.