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While its difficult to pinpoint a definitive explanation given some data gaps (limited historic financials in the S-1), I think one plausible answer is that stabilizing the core became a higher priority throughout the 2010s

Up to 14.3 percent of tobacco consumed in Australia comes through the black market, with a wide range of brands and counterfeit imitations sold under the counter by shop owners and other individuals across the country

Minnesota is one of just twenty- two states with such laws, and most of them were enacted in response to previous lawsuits and other legal disputes

A cigalike has a pre-filled e-liquid cartridge that screws onto a rechargeable battery

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