Turning Point Brands, Inc. (TPB) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Turning Point brand's fourth quarter 2025 earnings conference call. All participants will be in listen-only mode. All lines have been placed on mute to prevent any background noise. 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. Please note this event is being recorded. I would now like to turn the conference over to Andrew Flynn, Chief Financial Officer. Please go ahead. Good morning, everyone. Earlier today, we issued a press release covering our fourth quarter results, available in the investor relations section of our website at www.turningpointbrands.com. During this call, we'll discuss consolidated and segment operating results, the operating environment, and our progress against our strategic plan. Before we begin, please refer to the forward-looking statements and risk factors in our press release and SEC filings. We'll also reference certain non-GAAP financial measures. Reconciliations and explanations are included in today's earnings release. With that, I'll turn the call over to our CEO, Graham Purdy. Thanks, Andrew. Good morning, everyone, and thank you for joining our call. We are pleased with how the year wrapped up and the momentum we built for 2026. Revenue increased 29% to 121 million for the fourth quarter, including 41.3 million in modern oral net revenue. Adjusted EBITDA increased 14% to 30 million for the quarter. We are initiating 2026 modern oral gross revenue guidance at a range of 220 to 240 million in modern oral net revenue at a range of 180 to 190 million. As we've stated in the past, we are ready, willing, and able to increase our investment behind our white-pouch brands a...