附件99.1
22nd century集团报告2024年第三季度财务业绩
保持2025年第一季度现金盈余运营计划
启动增长策略，利用内部和外部品牌资产覆盖多个类别
北卡罗来纳州MOCKSVILLE，2024年11月12日 ——22nd century Group，Inc.（纳斯达克：XXII），一家烟草制品公司，领导抗击尼古丁依赖并认为吸烟者应该对尼古丁摄入有选择权，今天宣布了截至2024年9月30日的第三季度的业绩，并就近期业务亮点进行了更新。
2024年第三季度财务业绩 （与2024年第二季度相比，除特别说明外）
以下报告的所有数字均反映持续营运，不包括销售和退出公司在2023年底与大麻/大麻业务相关的已终止业务。
| ● | 净营业收入下降 顺序地 至590万美元，相比 790万美元。 |
| ● | 毛利润为负0.6百万美元，相比60万美元. |
| ● | 营业亏损增加至340万美元，而不是200万美元。 |
| ● | 净亏损增加至360万美元，而不是220万美元。 |
| ● | 基本和摊薄后每股收益下降至(0.27)，而不是(0.30)。 |
| ● | 调整后的EBITDA亏损增加至320万美元，而不是260万美元。 |
| ● | Net debt improved to $300万, compared to $700万 in the preceding quarter of 2024. |
“Having joined this company just under a year ago, we have transitioned from a purely financial focus to the next phase of 22nd Century Group’s turnaround plans, which includes deploying our extensive asset base of manufacturing, brand, customer relationship and distribution resources to build a sustainable and self-funding growth business,” said Larry Firestone, Chairman and CEO. “While the third quarter results reflect the operational adjustments that I spoke to on our last report intended to address underperforming results in the filtered cigar business, we remain focused on our goal of EBITDA breakeven results in the first quarter of 2025. We expect that the changes in our core CMO business will drive revenue growth going forward at appropriate margin levels.
“I am also excited to announce that we are now moving ahead on our plans to launch additional products, including VLN® SKUs within key customer brand families, as part of our drive to expand the distribution of reduced nicotine content cigarettes manufactured by 22nd Century. Adding VLN® within other brand families is a straightforward way to reduce our time to market, increase consumer awareness and expand the VLN® footprint. This is really the beginning for 22nd Century as the synchronicity between the CMO business and VLN® is progressing as planned and is the foundation for our growth plans for 2025 and beyond.”
Third Quarter 2024 - Discussion of Product Line Net Revenues
| ● | Cigarette net revenues, including export volume, increased to $410万 or 18% compared to $350万 in the prior year comparable period. Q3 2024 cigarette carton volumes declined 22% due to prior year comparable period stocking orders but benefitted from price increases that took effect in April 2024. Cigarette net revenues were stable compared to the immediately preceding quarter, which benefitted from a periodic Spectrum® research cigarette order valued at $90万. |
| ● | Filtered cigars net revenues decreased to $170万, compared to $410万 in the prior year comparable period, and $330万 in the immediately preceding quarter, reflecting lower volumes as the Company completed last time buy orders under our terminated contract manufacturing agreements, now having transitioned away from low or negative margin filtered cigar orders. Additionally, price increases for certain customers took effect in April 2024. The Company is presently in discussions for additional volume in this category under new agreements with improved margin. |
| ● | 雪茄产品的分销净收入为$ 200,000，与前一年同期的$ 0以及上一季度的$ 600,000相比，反映出在2024年第二季度推出的Pinnacle品牌产品扩展产品系列，与一家全国前五的便利店连锁店合作。 |
| ● | VLN® 烟草净营收在第三季度几乎可以忽略不计，相较于受惠于主要便利店订货的可比去年同期有所下降。虽然公司已确保其VLN产品获得广泛分销® 产品，但销售尚未实现。公司正在进行重新品牌定位和重新推出其VLN产品。® 产品将在下文提到的电话会议中进一步讨论。 |
电话会议
22nd century将于今天上午8:00（东部时间）举办在线直播，讨论其2024年第三季度财务业绩和业务亮点。在线直播和存档将在22nd Century投资者关系网站的活动部分https://ir.xxiicentury.com/events中提供。
财务业绩总结
（以千美元计，每股数据除外）
|
| 三个月结束 | |||||||
| | 九月30日 | | Change | |||||
|
| 2024 |
| 2023 |
| $ | % | ||
营业收入, 净收入 | | $ | 5,946 | | $ | 7,871 | | (1,925) | (24.5) |
毛利润（亏损） | | $ | (588) | | $ | 77 | | (665) | (863.6) |
营业亏损 | | $ | (3,377) | | $ | (8,253) | | 4,876 | (59.1) |
持续经营的净亏损 | | $ | (3,585) | | $ | (8,081) | | 4,496 | (55.6) |
持续经营中每股普通股的基本和摊薄亏损 | | $ | (0.27) | | $ | (6.70) | | 6 | (96.0) |
调整后EBITDA(a) | | $ | (3,178) | | $ | (6,528) | | 3,350 | 51.3 |
| | 截至九个月的结束日期 | |||||||
| | 九月 30 号 | | 变更 | |||||
| | 2024 |
| 2023 |
| $ | % | ||
营业收入净额 | | $ | 20,361 | | $ | 24,848 | | (4,487) | (18.1) |
毛利润（损失） | | $ | (1,147) | | $ | (867) | | (280) | 32.3 |
营业亏损 | | $ | (9,858) | | $ | (30,699) | | 20,841 | (67.9) |
持续经营的净损失 | | $ | (11,248) | | $ | (32,618) | | 21,370 | (65.5) |
持续经营的每股基本和摊薄亏损 | | $ | (1.35) | | $ | (33.35) | | 32 | (96.0) |
调整后的EBITDA（a） | | $ | (9,247) | | $ | (25,740) | | 16,493 | 64.1 |
| | | | | | | | | |
(a) 调整后的EBITDA是一项非GAAP财务指标。有关我们使用非GAAP财务指标的更多信息，请参阅“关于非GAAP财务信息的注释”。请参阅本公告末尾的A表，了解调整金额与最接近的相应GAAP财务指标的调和。 | |||||||||
产品线业绩摘要
(以千为单位)
| | 三个月结束了 | |||||||
| | 九月30日 | | | | ||||
|
| 2024 | | 2023 | | Change | |||
| | $ | 纸盒 | | $ | 纸盒 | | $ | 纸盒 |
合同制造 | | | | | | | | | |
香烟 | | 4,078 | 156 | | 3,463 | 200 | | 615 | (44) |
过滤雪茄 | | 1,664 | 253 | | 4,088 | 621 | | (2,424) | (368) |
雪茄 | | 204 | 30 | | - | - | | 204 | 30 |
制造业-半导体 | | 5,946 | 439 | | 7,551 | 821 | | (1,605) | (382) |
VLN® | | - | - | | 320 | 6 | | (320) | (6) |
产品线总收入 | | 5,946 | 439 | | 7,871 | 827 | | (1,925) | (388) |
| | | | | | | | | |
| | 截至九个月的结束日期 | |||||||
| | 九月30日 | | | | ||||
| | 2024 | | 2023 | | Change | |||
| | $ | 纸箱 | | $ | 纸箱 | | $ | 纸箱 |
合同制造业 | | | | | | | | | |
香烟 | | 10,942 | 416 | | 11,735 | 640 | | (793) | (224) |
过滤雪茄 | | 8,593 | 1,249 | | 12,414 | 1,937 | | (3,821) | (688) |
Cigarillos | | 756 | 120 | | - | - | | 756 | 120 |
Total Contract Manufacturing | | 20,291 | 1,785 | | 24,149 | 2,577 | | (3,858) | (792) |
VLN® | | 70 | 1 | | 699 | 14 | | (629) | (13) |
Total Product Line Revenues | | 20,361 | 1,786 | | 24,848 | 2,591 | | (4,487) | (806) |
关于22世纪集团公司
22nd Century Group是烟草行业中的尼古丁危害减少公司，使吸烟者能够控制尼古丁的消耗。
我们开发了我们的旗舰产品，VLN® cigarette, to give traditional cigarette smokers an authentic and familiar alternative that helps them take control of their nicotine consumption. VLN® cigarettes have 95% less nicotine than the traditional cigarette and have been proven to greatly reduce nicotine consumption. Instead of offering new ways of delivering nicotine to addicted smokers, we offer smokers the option to take control of their nicotine consumption and make informed and more productive choices, including the choice to avoid addictive levels of nicotine altogether.
Our wholly owned subsidiaries include a leading cigarette manufacturer that produces all VLN® products and provides turnkey contract manufacturing for other tobacco brands both domestically and internationally. The 60,000 square foot facility in Mocksville, North Carolina has the capacity to produce more than 4500万 cartons of combusted tobacco products annually with additional space for expansion.
Our proprietary reduced nicotine tobacco blends are made possible by comprehensive and patented technologies that regulate nicotine biosynthesis activities in the tobacco plant, resulting in full flavor and high yield with 95% less nicotine. Our extensive patent portfolio has been developed to ensure we have the only low nicotine combustible cigarette in the United States and critical international markets. Our mission is to sell the last cigarette before the 22nd Century.
VLN® 并帮助您减少吸烟® 是22nd Century Limited LLC的注册商标。
在xxiicentury.com、X（前称Twitter）、LinkedIn和YouTube上了解更多信息。
了解更多有关VLN的信息，请访问tryvln.com。®
关于前瞻性声明的警示说明
除历史信息外，本新闻稿中包含的所有声明、预期和假设均为前瞻性声明，包括但不限于我们全年业务展望。前瞻性声明通常包含诸如“预测”、“相信”、“考虑”、“持续”、“可能”、“估计”、“期望”、“探寻”、“预见”、“目标”、“指引”、“打算”、“可能”，“五月”，“计划”、“潜力”，“预测”，“初步”，“可能”，“项目”，“有前途”，“寻求”，“应该”，“将会”和类似表达。前瞻性声明包括但不限于关于（i）我们的成本削减措施，（ii）我们对监管执法的期望，包括我们能否获得对新法规的豁免，（iii）我们的财务和营运绩效以及（iv）我们对业务中断保险索赔的期望。实际结果可能会与前瞻性声明中明示或隐含的结果有实质差异。可能导致实际结果有实质差异的重要因素已在公司于2024年3月28日提交的十K表格的“风险因素”中阐明，并在2024年5月15日和2024年8月13日提交的公司季度报告中阐明。本发布中提供的所有信息截至本文日期，公司不承担更新这些前瞻性声明的义务，也没有意图进行更新，除非法律要求。
关于非依据会计准则的财务信息说明
In addition to the Company’s reported results in accordance with generally accepted accounting principles in the United States of America (“GAAP”), the Company provides EBITDA and Adjusted EBITDA.
In order to calculate EBITDA, the Company adjusts net (loss) income by adding back interest expense (income), provision (benefit) for income taxes, and depreciation and amortization expense. Adjusted EBITDA consists of EBITDA adjusted by the Company for certain non-cash and/or non-operating expenses, including adding back equity-based employee compensation expense, restructuring and restructuring-related charges such as impairment, acquisition and transaction costs, and other unusual or infrequently occurring
items, if applicable, such as inventory reserves and adjustments, gains or losses on disposal of property, plant and equipment, and gains or losses on investments.
The Company believes that the presentation of EBITDA and Adjusted EBITDA are important financial measures that supplement discussion and analysis of its financial condition and results of operations and enhances an understanding of its operating performance. While management considers EBITDA and Adjusted EBITDA to be important, these financial performance measures should be considered in addition to, but not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP, such as operating (loss) income, net (loss) income and cash flows from operations. Adjusted EBITDA is susceptible to varying calculations and the Company’s measurement of Adjusted EBITDA may not be comparable to those of other companies.
Net total debt is calculated as total principal amount of debt outstanding less cash and cash equivalents. In addition to the performance measures identified above, we believe that net total debt provides a meaningful measure of liquidity and a useful basis for assessing our ability to fund our activities, including the financing of scheduled debt repayments.
投资者关系与媒体联系
Matt Kreps
投资者关系
22世纪集团
mkreps@xxiicentury.com
214-597-8200
22世纪集团股份有限公司。
简明合并资产负债表
(未经审计)
（金额以千为单位，除了股份数和每股数据）
| | 9月30日 | | 运营租赁负债： | ||
|
| 2024 |
| 2023 | ||
资产 |
| |
|
| |
|
流动资产： |
| |
|
| |
|
现金及现金等价物 | | $ | 5,341 | | $ | 2,058 |
应收账款净额 | |
| 1,784 | |
| 1,671 |
存货 | |
| 2,340 | |
| 4,346 |
保险赔款 | |
| 3,768 | |
| 3,768 |
GVb期票据 | |
| 500 | |
| 2,000 |
预付款项及其他流动资产 | |
| 979 | |
| 1,180 |
处置的持有待售的停止运营的流动资产 | |
| 1,051 | |
| 1,254 |
总流动资产 | |
| 15,763 | |
| 16,277 |
物业、厂房和设备，净值 | |
| 2,970 | |
| 3,393 |
经营租赁使用权资产，净值 | |
| 1,705 | |
| 1,894 |
无形资产, 净额 | |
| 5,725 | |
| 5,924 |
其他 | | | 15 | |
| 15 |
总资产 | | $ | 26,178 | | $ | 27,503 |
| |
|
| |
|
|
负债和股东权益（亏损） | |
|
| |
|
|
流动负债: | |
|
| |
|
|
Notes and loans payable - current | | $ | 569 | | $ | 543 |
开多次数 | | | 1,500 | | | 5,848 |
营业租赁负债 | |
| 252 | |
| 231 |
应付账款 | |
| 3,098 | |
| 4,445 |
预提费用 | |
| 1,367 | |
| 1,322 |
计提诉讼费用 | |
| 3,768 | |
| 3,768 |
应计工资 | |
| 183 | |
| 883 |
应计的消费税和费用 | |
| 2,159 | |
| 2,234 |
递延收益 | | | 54 | | | 726 |
其他流动负债 | |
| 194 | |
| 1,849 |
持有待售已停止经营的不良资产 | |
| 1,295 | |
| 3,185 |
流动负债合计 | |
| 14,439 | |
| 25,034 |
长期负债： | |
|
| |
|
|
营运租赁义务 | |
| 1,506 | |
| 1,698 |
长期债务 | | | 5,529 | | | 8,058 |
其他长期负债 | | | 1,232 | | | 1,123 |
负债合计 | | | 22,706 | | | 35,913 |
股东权益（赤字） | |
|
| |
|
|
优先股，每股面值$0.00001，授权发行10,000,000股 | |
|
| |
|
|
普通股，每股面值$0.00001，授权发行250,000,000股 | |
|
| |
|
|
已发行及流通股票资本： | |
|
| |
|
|
29,378,321普通股（2023年12月31日为2,720,437股） | |
| | |
| |
普通股，面值 | | | — | | | — |
超过面值的资本 | |
| 392,787 | |
| 370,297 |
累积赤字 | |
| (389,315) | |
| (378,707) |
股东权益（亏损）总计 | |
| 3,472 | |
| (8,410) |
负债总额和股东权益（赤字） | | $ | 26,178 | | $ | 27,503 |
22世纪集团股份有限公司。
综合损失及综合损益简明综合表
(未经审计)
（金额以千为单位，除了股份数和每股数据）
| | 截至三个月 | | 截至九个月的结束日期 | ||||||||
| | 九月30日 | | 九月30日 | ||||||||
|
| 2024 |
| 2023 |
| 2024 |
| 2023 | ||||
营业收入, 净收入 | | $ | 5,946 | | $ | 7,871 | | $ | 20,361 | | $ | 24,848 |
销货成本 | | | 3,102 | |
| 3,921 | | | 11,184 | | | 13,327 |
产品的消费税和费用 | |
| 3,432 | |
| 3,873 | |
| 10,324 | |
| 12,388 |
总（亏损）利润 | |
| (588) | |
| 77 | |
| (1,147) | |
| (867) |
营业费用： | |
|
| |
|
| |
| | |
| |
销售，管理及行政 | |
| 2,547 | |
| 6,939 | |
| 7,814 | |
| 27,058 |
研发费用 | |
| 240 | |
| 623 | |
| 915 | |
| 2,152 |
其他经营费用（收入），净额 | | | 2 | |
| 768 | |
| (18) | |
| 622 |
总营业费用 | |
| 2,789 | |
| 8,330 | |
| 8,711 | |
| 29,832 |
持续经营业务的营业亏损 | |
| (3,377) | |
| (8,253) | |
| (9,858) | |
| (30,699) |
其他收入（支出）： | |
|
| |
|
| |
| | |
| |
其他收入（费用）净额 | |
| 100 | |
| 1,272 | |
| 439 | |
| 504 |
利息收入净额 | |
| 3 | |
| 79 | |
| 26 | |
| 201 |
利息支出 | |
| (311) | |
| (1,179) | |
| (1,828) | |
| (2,578) |
其他收入（支出）总额 | |
| (208) | |
| 172 | |
| (1,363) | |
| (1,873) |
持续经营活动的税前亏损 | |
| (3,585) | | | (8,081) | |
| (11,221) | | | (32,572) |
所得税准备 | |
| — | | | — | |
| 27 | |
| 46 |
持续经营的净亏损 | | $ | (3,585) | | $ | (8,081) | | $ | (11,248) | | $ | (32,618) |
| | | | | | | | | | | | |
终止经营： | | | | | | | | | | | | |
设计自动化。这一领域包括我们的先进硅芯片设计，验证产品和服务以及系统集成产品。该领域还包括数字、定制和现场可编程门阵列（FPGA）集成电路（IC）设计软件、验证软件和硬件产品，系统集成产品和服务，以及制造软件产品。设计师使用这些产品来自动化复杂的IC设计过程，并降低可能导致昂贵的设计或制造重新调整或次优终端产品的缺陷。 | | $ | (172) | | $ | (64,639) | | $ | 640 | | $ | (78,823) |
所得税准备 | | | — | | | — | | | — | | | — |
净利润 (终止经营) | | $ | (172) | | $ | (64,639) | | $ | 640 | | $ | (78,823) |
| | | | | | | | | | | | |
净利润 | | $ | (3,757) | | $ | (72,720) | | $ | (10,608) | | $ | (111,441) |
视同股息 | | | (3,677) | | | (564) | | | (7,711) | | | (931) |
普通股股东应占净亏损 | | $ | (7,434) | | $ | (73,284) | | $ | (18,319) | | $ | (112,372) |
| | | | | | | | | | | | |
持续经营中每股普通股的基本和摊薄亏损 | | $ | (0.27) | | $ | (6.70) | | $ | (1.35) | | $ | (33.35) |
基本和稀释每股亏损，来自终止经营业务 | | $ | (0.01) | | $ | (53.58) | | $ | 0.08 | | $ | (80.58) |
Basic and diluted loss per common share from deemed dividends | | $ | (0.27) | | $ | (0.47) | | $ | (0.93) | | $ | (0.95) |
每股普通股基本和摊薄损失 | | $ | (0.55) | | $ | (60.75) | | $ | (2.20) | | $ | (114.88) |
加权平均普通股份数-基本和稀释 | |
| 13,507,441 | | | 1,206,368 | | | 8,316,768 | | | 978,168 |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
净利润 | | $ | (3,757) | | $ | (72,720) | | $ | (10,608) | | $ | (111,441) |
其他综合收益: | |
|
| |
|
| |
| | |
| |
短期投资证券的未实现收益 | |
| — | |
| — | |
| — | |
| 71 |
外币翻译 | |
| — | |
| (69) | |
| — | |
| (31) |
将已实现的损失重新分类至净损失 | |
| — | |
| — | |
| — | |
| 41 |
其他综合收益 | | | — | | | (69) | | | — | | | 81 |
综合损失 | | $ | (3,757) | | $ | (72,789) | | $ | (10,608) | | $ | (111,360) |
A表-非通用会计准则指标调解
(金额以千美元计，每股数据以股和每股数据为单位)
以下是有关公司截至2024年和2023年9月30日三个月和九个月净亏损、EBITDA和调整后的EBITDA的信息表，包括这些非GAAP指标的和解。
| | 季度结束 | |||||||
| | 九月30日 | |||||||
| | 金额以千美元($000's)表示 | |||||||
| | 除股票和每股数据外 | |||||||
| | （未经审计） | |||||||
|
| | |
| | |
| | 变动 |
| | 2024 | | 2023 | | | fav / (unfav)1 | ||
持续经营的净亏损 | | $ | (3,585) | | $ | (8,081) |
| $ | 4,496 |
利息(收入)/费用，净额 | | | 308 | | | 1,100 |
| | (792) |
所得税征（免）额 | | | — | | | — | | | — |
摊销和折旧 | | | 249 | | | 411 | | | (162) |
EBITDA | | $ | (3,028) | | $ | (6,570) |
| $ | 3,542 |
调整： | | | | | | | | | |
重组和减值 | | | (23) | | | 545 | | | (568) |
衍生负债公允价值变动 | | | (23) | | | — | | | (23) |
权证负债公允价值变动 | | | (100) | | | (1,263) | | | 1,163 |
基于股权的员工薪酬费用 | | | (4) | | | 538 | | | (542) |
调整后的息税折旧及摊销前利润 | | $ | (3,178) | | $ | (6,528) |
| $ | 3,350 |
| | | | | | | | | |
每股调整后的EBITDA亏损 | | $ | (0.24) | | $ | (5.41) | | $ | 5.18 |
加权平均普通股份数-基本和稀释 | | | 13,507,441 | | | 1,206,368 | | | |
| | 截至年份 | |||||||
| | 九月30日 | |||||||
| | 金额以千元美元($000's)计 | |||||||
| | 除股份和每股数据外 | |||||||
| | （未经审计） | |||||||
|
| | |
| | |
| | $ Change |
| | 2024 | | 2023 | | | 收藏/取消收藏1 | ||
持续经营的净亏损 | | $ | (11,248) | | $ | (32,618) |
| $ | 21,370 |
利息(收入)/费用，净额 | | | 1,802 | | | 2,377 |
| | (575) |
所得税征（免）额 | | | 27 | | | 46 | | | (19) |
摊销和折旧 | | | 762 | | | 1,137 | | | (375) |
EBITDA | | $ | (8,657) | | $ | (29,058) |
| $ | 20,401 |
调整： | | | | | | | | | |
重组和减值 | | | (348) | | | 545 |
| | (893) |
存货减值 | | | 431 | | | — |
| | 431 |
衍生负债公允价值变动 | | | (482) | | | — |
| | (482) |
权证负债公允价值变动 | | | (424) | | | (540) |
| | 116 |
基于股权的员工薪酬支出 | | | 233 | | | 3,091 |
| | (2,858) |
调整后的息税折旧及摊销前利润 | | $ | (9,247) | | $ | (25,740) |
| $ | 16,493 |
| | | | | | | | | |
每股调整后的EBITDA亏损 | | $ | (0.00) | | $ | (0.03) | | $ | 0.03 |
加权平均普通股份数-基本和稀释 | | | 8,316,768 | | | 978,168 | | | |
1Fav = 有利差异，会增加EBITDA和调整后EBITDA；Unfav = 不利差异，会减少EBITDA和调整后EBITDA
表B：净总债务调解
（以千美元为单位）
| | 9月30日 | | 运营租赁负债： | ||
| | 2024 |
| 2023 | ||
总债务 | | $ | 7,029 | | $ | 13,906 |
添加：折扣债务和延期发行费用包括在总债务中 | | | 1,292 | | | 1,453 |
未偿还债务的总本金金额 | | | 8,321 | | | 15,359 |
Less: 现金及现金等价物 | | | 5,341 | | | 2,058 |
净总债务（非GAAP） | | $ | 2,980 | | $ | 13,301 |