22nd Century Group, Inc (XXII) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the 22nd Century Group second quarter 2025 results call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero after today's presentation. There will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. Please note this event is being recorded. I would now like to turn the conference over to Matt Krebs. Please go ahead. Hello, and welcome to 22nd Century's second quarter 2025 results conference call. Joining me today are Larry Firestone, CEO, and Dan Otto, CFO. Earlier today, we issued a press release announcing our results for the quarter ended June 30th, 2025. The release and 10-Q 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 business, operations, strategy, and financial results through June 30th, 2025, and subsequent events post the close of quarter end. 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, followed with the SEC. During today's call, we may also discuss non-GAAP financial measures, including adjusted EBITDA, which redefines earnings before interest, taxes, depreciation, and amortization as adjusted for certain non-cash and non-operating expenses. A net debt calculated as the total principal amount of debt outstanding plus...