--- title: "22nd Century | 10-Q: FY2026 Q1 Revenue: USD 4.105 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285530370.md" datetime: "2026-05-07T10:32:35.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285530370.md) - [en](https://longbridge.com/en/news/285530370.md) - [zh-HK](https://longbridge.com/zh-HK/news/285530370.md) --- # 22nd Century | 10-Q: FY2026 Q1 Revenue: USD 4.105 M Revenue: As of FY2026 Q1, the actual value is USD 4.105 M. EPS: As of FY2026 Q1, the actual value is USD -18.08. EBIT: As of FY2026 Q1, the actual value is USD -3.059 M. #### Segment Revenue 22nd Century Group, Inc. operates as a single reportable segment, tobacco, deriving all its revenues from tobacco operations and products . For the three months ended March 31, 2026, net revenues decreased to $4,105, a 31.1% decrease from $5,956 in the prior year period, primarily due to shifts in product mix . **Product Line Revenue Breakdown:** **Contract Manufacturing:** Cigarettes: $2,846 in Q1 2026 compared to $5,013 in Q1 2025, a decrease primarily due to a strategic shift away from high volume and low-priced CMO export customers . Filtered Cigars: $873 in Q1 2026 compared to $1,103 in Q1 2025, reflecting lower volumes as the Company implemented repricing of customer contracts and shifted its product mix towards higher-margin branded cigarettes . Other Tobacco Products: $389 in Q1 2026 compared to -$5 in Q1 2025, including new moist snuff sales . **VLN®:** -$3 in Q1 2026 compared to -$155 in Q1 2025, reflecting minimal reorder activity and return accruals . #### Operational Metrics - **Gross Loss**: The gross loss for Q1 2026 was -$636, compared to -$609 in Q1 2025 . As a percentage of net revenues, gross loss was -15.5% in Q1 2026, compared to -10.2% in Q1 2025 . - **Operating Expenses**: Total operating expenses increased to $2,403 in Q1 2026 from $1,961 in Q1 2025 . - **Sales, General and Administrative (SG&A)**: Increased to $2,118 in Q1 2026 from $1,799 in Q1 2025 . As a percentage of net revenues, SG&A was 51.6% in Q1 2026, up from 30.2% in Q1 2025 . - **Research and Development (R&D)**: Increased to $285 in Q1 2026 from $162 in Q1 2025 . As a percentage of net revenues, R&D was 7.0% in Q1 2026, up from 2.7% in Q1 2025 . - **Operating Loss from Continuing Operations**: The operating loss was -$3,039 in Q1 2026, compared to -$2,570 in Q1 2025 . As a percentage of net revenues, operating loss was -74.0% in Q1 2026, compared to -43.1% in Q1 2025 . - **Net Loss from Continuing Operations**: The net loss from continuing operations was -$3,019 in Q1 2026, compared to -$3,274 in Q1 2025 . As a percentage of net revenues, net loss was -73.5% in Q1 2026, compared to -55.0% in Q1 2025 . #### Cash Flow - **Net Cash Used in Operating Activities**: Increased to -$3,103 in Q1 2026 from -$2,976 in Q1 2025 . - **Net Cash Used in Investing Activities**: Decreased to -$47 in Q1 2026 from -$59 in Q1 2025 . - **Net Cash Provided by (Used in) Financing Activities**: Increased to $5,546 provided in Q1 2026 from -$254 used in Q1 2025 . #### Unique Metrics and Strategic Summary - **Cash and Cash Equivalents**: As of March 31, 2026, 22nd Century Group, Inc. had $9,545 in cash and cash equivalents . - **Working Capital**: Working capital from continuing operations increased to $13,164 as of March 31, 2026, from $10,359 at December 31, 2025 . - **Strategic Shift**: The company is strategically shifting away from high-volume, low-priced Contract Manufacturing Organization (CMO) export customers and towards higher-margin branded cigarettes, including natural styles, and VLN® cigarettes . - **Capital Raises**: In March 2026, the company closed an initial offering of Series B Convertible Preferred Stock for $16,000, using $9,650 of the net proceeds to repurchase all outstanding Series A Convertible Preferred Stock . The remaining balance of net proceeds from this offering was approximately $5,680 . The company also utilized an at-the-market (ATM) common equity offering program, selling 44,381 shares for gross proceeds of $200 in Q1 2026 . #### Outlook and Guidance 22nd Century Group, Inc. anticipates continued losses and negative cash flows, leading management to explore strategies such as expense reduction, financing through debt or equity, asset sales, and strategic partnerships . 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