3Q22 Investor Update
FOCUSED ON COMMERICAL TRANSFORMATION IN 3Q
Revenue, net (in millions)
Tobacco
$7.8 M
3Q21
Hemp/Cannabis
$8.0 M
4Q21
+149% YoY
$9.0 M
1Q22
$14.5 M
$4.5
$10.0
2Q22
$19.4 M
$7.9
$11.5
3Q22
3Q '22 gross profit margin includes ~$1 million inventory
adjustment related to the GVB acquisition accounting.
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Leveraging exceptional VLNⓇ pilot results, moving aggressively into
multi-sate commercial launch program
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22ND CENTURY GROUP
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Focused on launching VLN® in at least 12 to 15 states within the
next 12 months - now in 5 states with proven launch template
Advancing GVB's capabilities to further differentiate its products,
access new market opportunities and drive growth
Every 1% share of the U.S. retail market equates to
approximately $800 million in retail sales, which is $500 million
in revenue for a premium cigarette manufacturer.
Passed NSF International Audit for pharma-grade manufacturing
Submitted Drug Master File to FDA to produce and supply APIs
for medical and pharmaceutical industry
Pursing ICH Q7 international certification
Focused on revenue opportunities and expanding margins
Plan in place to generate positive cash flow and EBITDA from
GVB's operations to fund hemp/cannabis franchise growth and
VLNⓇ expansion
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