22nd Century Group, Inc. (NASDAQ:XXII) Q1 2023 Earnings Call May 9, 2023 10:00 AM ET

Company Participants

Matt Kreps - Investor Relations

James A. Mish - Chief Executive Officer

R. Hugh Kinsman - Chief Financial Officer

John Miller - President, Tobacco Business

Conference Call Participants

Aaron Grey - Alliance Global Partners

Victor Ma - Cowen & Company

Alex Fuhrman - Craig-Hallum Capital

Brian Wright - Roth Capital Partners

Jim McIlree - Dawson James

Operator

Welcome to 22nd Century Group First Quarter 2023 Conference Call and Webcast. At this time, all participants have been placed in a listen-only mode. The floor will be open for questions following management's prepared remarks. [Operator Instructions].

It is now my pleasure to turn the call over to Matt Kreps, Investor Relations for 22nd Century. Please begin.

Matt Kreps

Thanks, Brian, and good morning and welcome to 22nd Century's First Quarter Earnings Conference Call. Joining me today are Jim Mish, CEO; Hugh Kinsman, CFO; and John Miller, President of our Tobacco Business.

Earlier today, we issued a press release announcing our results for the first quarter 2023. The release, earnings presentation and 10-Q are available in the Investors section of our website at xxiicentury.com.

We'll start today's call with prepared remarks from Jim, John and Hugh before moving into a Q&A session with our analysts. Given the limited time for today's call and Q&A, we will again focus on commercial advancements driving revenue in our VLN tobacco and GVB hemp/cannabis business units. If you have questions about our business not addressed on this call, you are welcome to email Investor Relations using my contact information provided in today's release.

On slide two, 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 also 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. For more details on these measures, please refer to our press release issued earlier today.

And with that, I'll turn the call over to Jim, beginning from slide three.

James A. Mish

Thanks, Matt, and good morning, everyone.