Reduction in Accounts Receivable
Accounts receivable decreased by approximately $7.3 million from the previous quarter to $60.4 million, demonstrating improved payment and collection policies.
Malaysian Manufacturing Expansion
Secured interim nicotine product manufacturing license in Malaysia, with plans to expand to 80 production lines, enhancing manufacturing capacity and reducing geopolitical risk.
Innovative Age-Gating Technology
Filed a PMTA for a blockchain-based age-gating system with the FDA, promising enhanced public health and regulatory compliance.
Partnership with Raw Garden
Launched the Sprout cannabis vapor device in partnership with Raw Garden, emphasizing purity, performance, and safety.