22nd Century preliminary: third-quarter revenue of $4.8 million, gross profit turns positive

22nd Century Group, Inc. (Nasdaq: XXII), the low-nicotine cigarette maker, on October 22, 2026 released select, preliminary and unaudited third-quarter results showing net revenues of about $4.8 million against $2.9 million in the second quarter, a 66% sequential increase, gross profit of about $400,000 after a $(300,000) gross loss, and a net loss of $2.6 million compared with $3.3 million.

Revenue up 66% sequentially, and a gross profit where there was a loss

Net revenues came in at about $4.8 million for the third quarter of 2026, against $2.9 million in the second quarter, which the release describes as a 66% increase. That sequential comparison is the only revenue comparison the document provides: no year-earlier figure appears in either exhibit, so a year-over-year read cannot be made from what was filed. Gross profit was about $400,000, compared with a gross loss of $(300,000) in the second quarter. Operating expenses were $3.0 million, a level the company calls consistent with the prior quarter, so the swing came from the top line rather than from cost reduction. Operating loss narrowed to $2.6 million from $3.3 million, the net loss narrowed by the same amount, and the adjusted EBITDA loss, a non-GAAP measure the company defines in an attached note, shrank to $2.2 million from $3.5 million.

Same-store reports carry the growth story, with no volume detail

The exhibits do not break out shipment volumes, pricing, or revenue by brand, so the source of the 66% gain cannot be decomposed from the filing itself. Chief Executive Larry Firestone credits retail execution and consumer awareness rather than unit data. Same-store sales reports for the Pinnacle brand grew between the second and third quarters, a trend he said "reinforced our belief that the market is looking for alternatives that change their smoking practice." He also restated the category bet: "We believe that the future of smoking will include a low nicotine cigarette category of which we are the first and only player at the moment." The release describes the company as the only low nicotine tobacco company in the world and says its VLN cigarettes contain 95% less nicotine than traditional cigarettes.

A quarter-end cash figure without a balance sheet

Cash and equivalents were $3.9 million at quarter end. Common shares outstanding as of October 22, 2026 were 3,416,441 and no warrants remain outstanding. Those are effectively the only balance-sheet and capital-structure items disclosed: the exhibits carry no income statement, no cash flow statement, and no statement on financing plans, going-concern status, or liquidity. Scale is what makes that omission consequential — the $3.9 million cash balance sits against a $2.6 million net loss in the quarter alone. Management states that the figures are preliminary, have not been audited, reviewed or compiled by the independent registered public accounting firm, and may differ materially from the final numbers. Results reflect continuing operations, excluding discontinued operations, and the company says every figure is preliminary and subject to change.

November 13 is the next dated checkpoint

22nd Century said it anticipates releasing full third-quarter 2026 earnings on or before November 13, 2026, and will host a conference call whose date and details will be released separately. That release, not this one, will carry the complete statements and any commentary on the cash position. The current report lists Item 2.02 and Item 8.01, and it treats its two exhibits differently: the earnings release is furnished, while the preliminary results exhibit is filed. The filing adds that information in Item 2.02 shall not be deemed filed for purposes of Section 18 of the Exchange Act, language that separates the furnished release from filed disclosure.