Significant Revenue and EBITDA Growth
Revenue increased 31% to $119 million for the quarter. Adjusted EBITDA increased 17% to $31.3 million. The company raised its adjusted EBITDA guidance to a range of $115 million to $120 million, up from $110 million to $114 million.
Modern Oral Segment Expansion
Modern Oral revenue, including FRE and ALP, increased 628% year-over-year to $36.7 million. The company is increasing full-year nicotine pouch sales guidance to a range of $125 million to $130 million, up from $100 million to $110 million.
Stoker's Segment Growth
Stoker's revenue increased 81% to about $74.8 million, with a 4% increase in looseleaf and a 6% increase in MST.
Successful Capital Raise
Raised $100 million of gross proceeds under the at-the-market offering program at an average share price of $98.59.
Expansion and Investment in Sales Force
Ahead of schedule in doubling the size of the sales force by the end of 2026. New sales and merchandising tools developed to secure ideal assortment and execute at retail.