Juul Labs posted a loss in the first quarter as revenue fell 23% as the U.S. government cracked down on teen vaping and vaping.

The e-cigarette maker posted revenue of $259 million in the quarter ended March 31, people familiar with the matter said. The troubled company was recently revealed to be seeking rescue financing.

On an unadjusted basis before interest, taxes, depreciation and amortization, the company lost $28 million for the period, compared with a gain of $29 million a year earlier.

Peer comparison:

On May 20, Fog Core Technology (NYSE: RLX) announced its unaudited financial report for the first quarter of 2022. According to the financial report, Fog Core Technology’s net revenue in the first quarter of 2022 was RMB 1.71 billion, a year-on-year decrease of 28.5%. Under non-GAAP, adjusted net profit in the first quarter was RMB 360 million, compared with RMB 611 million in the same period last year.