22nd Century Group, Inc (XXII) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to 22nd Century Group's first quarter 2025 conference call and webcast. At this time, all participants have been placed in a listen-only mode. It is now my pleasure to turn the floor over to Matt Kreps, investor relations for 22nd Century Group. Please begin. Hello, and welcome to 22nd Century's first quarter 2025 results conference call. Joining me today are Larry Firestone, CEO, and Dan Otto, CFO. Earlier today, we issued a press release announcing the results for the quarter ended March 31, 2025. The release and 10Q are available in the investor 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 March 31, 2025 and subsequently. 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. Also, during today's call, we may discuss non-GAAP financial measures, including adjusted EBITDA, which we define as earnings before interest, taxes, depreciation, and amortization, as adjusted for certain non-cash and non-operating expenses. And net debt calculated as total principal amount of debt less outstanding, less cash and cash equivalent. For more details on these measures, please refer to our release issued earlier today. And with that, I'll now turn the call over to Larry. Thank you, Matt. Good morning, everyone, and thank you for joining 22nd Century's first quarter 2025 resu...