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    Greenlane Reports Record Q4 2021 Revenue of $56.0 Million, Up 54% Year-over-Year

    3/30/22 4:05:00 PM ET
    $GNLN
    Durable Goods
    Consumer Discretionary
    Get the next $GNLN alert in real time by email

    Company Expects Newly Implemented Strategic Plan to Result in Positive Adjusted EBITDA by Q3 2022

    BOCA RATON, FL / ACCESSWIRE / March 30, 2022 / Greenlane Holdings, Inc. ("Greenlane" or "the Company") (NASDAQ:GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today reported financial results for the fourth quarter and full year ended December 31, 2021 ("Q4 2021" and "FY 2021").

    Recent Highlights

    • Total revenue for Q4 2021 increased 54% to $56.0 million, compared to $36.3 million for Q4 2020. Total revenue for 2021 increased 20.1% to $166.1 million, compared to $138.3 million for 2020.
    • Sales of Greenlane Brands increased 16.9% to $7.4 million, or 13.2% of total revenue, in Q4 2021 compared to $6.3 million, or 17.5% of total revenue for Q4 2020. Sales of Greenlane Brands increased 52.3% to $34.8 million, or 21.0% of total revenue, in 2021 compared to $22.8 million, or 16.5% of total revenue, in 2020.
    • Implemented a new strategic plan (the "2022 Plan") to accelerate the path to profitability and capitalize the business in a non-dilutive manner by reducing headcount and facility footprint, disposing of non-core assets, discontinuing distribution and selling of lower-margin 3rd-party brands, and securing an asset-based loan to support the Company's long-term working capital needs. The Company expects the 2022 Plan to:
      • Reduce adjusted SG&A (defined as SG&A excluding depreciation and amortization; see note labeled "Adjusted SG&A" below for a further explanation of this metric) by nearly 40% on a quarterly basis to between approximately $14 million and $16 million in Q3 2022, down from $26.6 million in Q3 2021
      • Help the Company achieve positive adjusted EBITDA by Q3 2022
      • Generate liquidity in excess of $30 million if all measures are successful
    • Fully achieved the committed synergy cost savings with over $20 million per year saved as a result of the merger with KushCo Holdings, Inc. ("KushCo")
    • Appointed corporate restructuring consultant and seasoned business leader Craig Snyder as new Chief Commercial Officer, who will be responsible for the Company's sales and "go-to-market" strategy
    • Received approval from U.S. Postal Service to ship B2B electronic nicotine delivery systems products, rendering 97%+ of Company's shipments eligible for shipment using major carriers or freight
    • Completed the acquisition of industry leading vaporizer brand DaVinci, expanding the Greenlane Brands portfolio and intellectual property portfolio

    Management Commentary

    "2021 was one of the most pivotal years in Greenlane's 17-year history," said Nick Kovacevich, CEO of Greenlane. "Not only did we complete our transformational merger with KushCo-creating the industry's leading ancillary cannabis company and house of brands-but we also strengthened our Greenlane Brands portfolio with the acquisitions of Eyce and DaVinci, which gave us a strong platform entering the new year. 2022 has been off to a strong start, building on the progress we made last year, most notably through the introduction and implementation of our 2022 Plan to streamline the organization, reduce our cost structure, and capitalize the business in a non-dilutive manner. While the overall cannabis industry is facing headwinds in the form of inflation, supply chain disruptions, and stock price declines, we are positioning ourselves to weather the storm, accelerate our path to profitability, and ensure we have a stable and scalable business that can drive profitable growth in the long run. To that end, Q4 represented another step in the right direction.

    "Net sales for the quarter grew 54% year-over-year to $56.0 million, which included a full quarter of KushCo sales for the first time. While sales would have declined year-over-year if KushCo's sales contribution was removed, due to a decline in lower-margin third-party sales, we are pleased that we have successfully shifted away from these lower-quality sales, and instead focused more on our proprietary and higher-margin Greenlane Brands, which increased 17% year-over-year to $7.4 million for the quarter. Growing our in-house brands remains a key focus, as it helps expand our strategic moat, margins, revenue, and profitability, as we look to become the leading house of brands in the ancillary cannabis industry."

    "Looking ahead to the remainder of 2022, we will be focused on executing our 2022 Plan to reduce nonessential costs, dispose non-core assets, secure non-dilutive funding in the form of an asset-based loan, and scale our Greenlane Brands. With the introduction of this new plan, we are retracting our previously communicated 2022 and 2023 sales targets for our Greenlane Brands, due to some of the challenges of forecasting growth rates in this current climate. However, we expect continued growth in this core part of our business and expect our 2022 Plan to help us achieve positive adjusted EBITDA by Q3 of 2022. This should position us for stronger and more sustainable growth entering 2023. Overall, we're encouraged by the progress we have made thus far, and know the work that is needed to be done to get Greenlane profitable and performing at optimal levels. Now is the time for us to execute our plan, which we expect will drive stronger results for our customers, partners, shareholders, and employees."

    Financial Summary


    Three Months Ended December 31, %
    Year Ended
    December 31,
    %
    ($ in thousands)
    2021 2020 Change 2021 2020 Change
    Net Sales
    $56,022 $36,272 54.4% $166,060 $138,304 20.1%
    Greenlane Brands Sales
    7,409 6,339 16.9% 34,790 22,847 52.3%
    % of Net Sales
    13.2% 17.5% 21.0% 16.5%
    Cost of Sales
    $43,549 $30,120 44.6% $138,381 $115,539 19.8%
    Gross Profit
    12,473 6,152 102.7% 27,679 22,765 21.6%
    Gross Margin
    22.3% 17.0% 16.7% 16.5%
    Salaries, Benefits & Payroll Taxes
    10,854 7,164 51.5% 34,012 24,909 36.5%
    General and Administrative
    10,815 9,557 13.2% 41,700 35,315 18.1%
    Net Loss
    (11,154) (10,860) 2.7% (53,423) (47,704) 12.0%
    Adjusted EBITDA
    (6,588) (7,201) (8.5)% (22,050) (24,352) (9.5)%
    Cash
    $12,857 $30,435 (57.8)%

    Net sales were $56.0 million in Q4 2021, compared to $36.3 million in Q4 2020, an increase of 54.4%. For the full year, net sales were $166.1 million in 2021, compared to $138.3 million in 2020, an increase of 20.1%. The year-over-year increase in net sales was primarily driven by the KushCo merger. The increase was partially offset by lower sales of lower-margin third-party brands, as part of the Company's continued focus on shifting away from these product categories and focusing more on higher-margin proprietary Greenlane Brands.

    Gross profit was $12.5 million, or 22.3% of net sales in Q4 2021, compared to $6.2 million, or 17.0% of net sales in Q4 2020. For the full year, gross profit was $27.7 million, or 16.7% of net sales in 2021, compared to $22.8 million, or 16.5% of net sales in 2020.

    As of December 31, 2021, cash totaled $12.9 million, and working capital was $53.8 million in comparison to working capital of $54.2 million as of December 31, 2020.

    Three Months Ended December 31, % For The Year Ended December 31, %
    ($ in thousands)
    2021 2020 Change 2021 2020 Change
    Consumer Goods
    $24,873 $32,670 (23.9)% $110,105 $122,186 (9.9)%
    Industrial Goods
    31,149 3,602 764.8% 55,955 16,118 247.2%

    Net sales for our Consumer Goods reporting segment totaled $24.9 million in Q4 2021, compared to approximately $32.7 million in the same period in 2020. For the full year, net sales for our Consumer Goods reporting segment decreased to $110.1 million, compared to $122.2 million in 2020. The year-over-year decrease was due to a reduction in sales of lower-margin third-party brands, as part of the Company's strategy to focus on its higher-margin proprietary Greenlane Brands. The Consumer Goods segment focuses on serving consumers across wholesale, retail and e-commerce operations-through both the Company's proprietary brands, including Eyce, DaVinci, VIBES, Marley Natural, Keith Haring, and Higher Standards, as well as lifestyle products and accessories from leading brands, like PAX, Storz and Bickel, Grenco Science, and many more.

    Net sales for our Industrial Goods reporting segment were approximately $31.1 million for Q4 2021 compared to approximately $3.6 million in the same period in 2020. For the full year, net sales for our Industrial Goods reporting segment increased to $56.0 million, compared to $16.1 million in 2020. The year-over-year increase was due to the merger with KushCo, which was completed on August 31, 2021. The Industrial Goods segment focuses on serving the premier cannabis brands, operators, and retailers through our wholesale operations by providing ancillary products essential to their growth, such as customizable packaging and supply products, which includes our house brand Pollen Gear and vaporization solutions offering which includes CCELL branded products.

    Conference Call Information

    Greenlane management will host a scheduled conference call and webcast tomorrow, Thursday, March 31 at 8:30 a.m. Eastern time to discuss the results for its fourth quarter and full year ended December 31, 2021, followed by a question-and-answer session. The call will be webcast with an accompanying slide deck, which will be accessible by visiting the Financial Results page of Greenlane's investor relations website.

    All interested parties are invited to listen to the live conference call and presentation by dialing the number below or by clicking the webcast link available on the Financial Results page of the Company's investor relations website.

    DATE:Thursday, March 31st, 2022
    TIME:8:30 a.m. Eastern Time
    WEBCAST:

    Click to access

    DIAL-IN NUMBER:877-545-0523 (Toll-Free)
    973-528-0016 (International)
    CONFERENCE ID:794281
    REPLAY:877-481-4010 or 919-882-2331
    Replay Passcode: 44973
    Available until April 14th, 2022

    If you have any difficulty connecting with the conference call or webcast, please contact Greenlane's investor relations at [email protected] or 714-539-7653.

    About Greenlane Holdings, Inc.

    Greenlane is the premier global platform for the development and distribution of premium cannabis accessories, packaging, vape solutions, and lifestyle products. We operate as a powerful house of brands and omni-channel distribution platform, providing unparalleled product quality, customer service, compliance knowledge, and operations and logistics to accelerate our customers' growth.

    Founded in 2005, Greenlane serves a diverse and expansive customer base with more than 8,500 retail locations, including licensed cannabis dispensaries, smoke shops, and specialty retailers. As a pioneer in the cannabis space, Greenlane is the partner of choice for many of the industry's leading multi-state operators, licensed producers, and brands, including PAX Labs, Storz & Bickel (Canopy-owned), Cookies, Grenco Science, and CCELL.

    We proudly own and operate a diverse brand portfolio including EYCE silicone pipes, DaVinci vaporizers, Pollen Gear™, the K.Haring Glass Collection by Higher Standards, Marley Natural™, and VIBES™ rolling papers. Higher Standards, Greenlane's flagship brand, offers both a high-end product line and immersive retail experience with ground-breaking stores in New York City's Chelsea Market and Malibu, California. Greenlane also owns and operates Vapor.com and VapoShop.com, two industry-leading, direct-to-consumer e-commerce platforms in North America and Europe respectively.

    For additional information, please visit: https://gnln.com/.

    Investor Contact
    Najim Mostamand, CFA
    Director of Investor Relations
    714-539-7653
    [email protected]

    Non-GAAP Measures

    Adjusted EBITDA

    Greenlane discloses Adjusted EBITDA, which is a non-GAAP performance measure because management believes this measure assists investors and analysts in assessing our overall operating performance and evaluating how well we are executing our business strategies. You should not consider Adjusted EBITDA as alternatives to net loss, as determined in accordance with U.S. GAAP, as indicators of our operating performance. Adjusted EBITDA has limitations as an analytical tool. Some of these limitations are:

    • Adjusted EBITDA does not include interest expense, which has been a necessary element of our costs, and income tax payments we may be required to make;
    • Adjusted EBITDA does not reflect equity-based compensation;
    • Adjusted EBITDA does not reflect equity-based compensation;
    • Adjusted EBITDA does not reflect other one-time expenses and income, including consulting costs related to the implementation of our ERP system and the reversal of an allowance against indemnification receivables associated with the EU VAT liability;
    • Other companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative measure.

    Because Adjusted Net Loss and Adjusted EBITDA do not account for these items, these measures have material limitations as indicators of operating performance. Accordingly, management does not view Adjusted Net Loss or Adjusted EBITDA in isolation or as substitutes for measures calculated in accordance with U.S. GAAP.

    Adjusted SG&A

    Adjusted SG&A is a supplemental non-GAAP financial measure, which the Company calculates as total selling, general and administrative expenses less depreciation and amortization expense. The Company believes this measure is helpful to investors because it gives investors information about cash operating expenses.

    Cautionary Statement Regarding Forward-Looking Statements

    Certain matters within this press release are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These forward-looking statements include, among others: comments relating to the current and future performance of the Company's business, including the achievement of positive adjusted EBITDA; the Company's financing, capitalization and personnel strategies; expected benefits and cost savings from the strategic plans described herein; and the Company's financial outlook and expectations. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2021 and the Company's other filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Additional information is also set forth in Greenlane's Annual Report on Form 10-K for the year ended December 31, 2021. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to Greenlane on the date hereof. Greenlane undertakes no duty to update this information unless required by law.

    GREENLANE HOLDINGS, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
    (in thousands, except par value per share amounts)

    December 31,
    2021
    December 31,
    2020
    ASSETS
    Current assets
    Cash
    $12,857 $30,435
    Accounts receivable, net of allowance of $1,285 and $1,084 at December 31, 2021 and 2020, respectively
    14,690 6,330
    Inventories, net
    66,982 36,064
    Vendor deposits
    18,475 11,289
    Assets held for sale
    75 1,073
    Other current assets
    11,658 10,892
    Total current assets
    124,737 96,083

    Property and equipment, net
    20,851 12,201
    Intangible assets, net
    84,710 5,945
    Goodwill
    41,860 3,280
    Operating lease right-of-use assets
    9,128 3,104
    Other assets
    4,541 2,037
    Total assets
    $285,827 $122,650
    LIABILITIES
    Current liabilities
    Accounts payable
    $23,041 $18,405
    Accrued expenses and other current liabilities
    25,128 19,390
    Customer deposits
    7,924 2,729
    Current portion of notes payable
    11,615 182
    Current portion of operating leases
    3,091 966
    Current portion of finance leases
    169 184
    Total current liabilities
    70,968 41,856
    Notes payable, less current portion and debt issuance costs, net
    10,607 7,844
    Operating leases, less current portion
    6,142 2,524
    Finance leases, less current portion
    72 205
    Other liabilities
    1,674 964
    Total long-term liabilities
    18,495 11,537
    Total liabilities
    89,463 53,393
    Commitments and contingencies
    STOCKHOLDERS' EQUITY
    Preferred stock, $0.0001 par value, 10,000 shares authorized, none issued and outstanding
    - -
    Class A common stock, $0.01 par value per share, 600,000 shares authorized, and 85,210 shares issued and outstanding as of December 31, 2021; 125,000 shares authorized, 13,322 shares issued and outstanding as of December 31, 2020
    852 133
    Class B common stock, $0.0001 par value per share, 30,000 shares authorized, and 21,745 shares issued and outstanding as of December 31, 2021; 10,000 shares authorized, and 3,491 shares issued and outstanding as of December 31, 2020
    2 1
    Class C Common stock, $0.0001 par value per share, no shares authorized as of December 31, 2021; 100,000 shares authorized, and 76,039 shares issued and outstanding as of December 31, 2020
    - 8
    Additional paid-in capital
    228,894 39,742
    Accumulated deficit
    (55,544) (24,848)
    Accumulated other comprehensive income (loss)
    324 29
    Total stockholders' equity attributable to Greenlane Holdings, Inc.
    174,528 15,065
    Non-controlling interest
    21,836 54,192
    Total stockholders' equity
    196,364 69,257
    Total liabilities and stockholders' equity
    $285,827 $122,650

    GREENLANE HOLDINGS, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (Unaudited)
    (in thousands, except per share amounts)


    Three months ended December 31, Year ended December 31,

    2021 2020 2021 2020
    Net sales
    $56,022 $36,272 $166,060 $138,304
    Cost of sales
    43,549 30,120 138,381 115,539
    Gross profit
    12,473 6,152 27,679 22,765
    Operating expenses:
    Salaries, benefits and payroll taxes
    10,854 7,164 34,012 24,909
    General and administrative
    10,815 9,557 41,700 35,315
    Goodwill impairment charge
    - - - 8,996
    Depreciation and amortization
    2,304 561 4,689 2,520
    Total operating expenses
    23,973 17,282 80,401 71,740
    Loss from operations
    (11,500) (11,130) (52,722) (48,975)
    Other income (expense), net:
    Interest expense
    (206) (102) (574) (437)
    Other income (expense), net
    573 419 (117) 1,902
    Total other income (expense), net
    367 317 (691) 1,465
    Loss before income taxes
    (11,133) (10,813) (53,413) (47,510)
    Provision for income taxes
    21 47 10 194
    Net loss
    (11,154) (10,860) (53,423) (47,704)
    Less: Net loss attributable to non-controlling
    interest
    (4,151) (7,348) (22,840) (33,187)
    Net loss attributable to Greenlane Holdings, Inc.
    $(7,003) $(3,512) $(30,583) $(14,517)
    Net loss attributable to Class A common stock per share - basic and diluted
    $(0.09) $(0.27) $(0.79) $(1.22)
    Weighted-average shares of Class A common stock outstanding - basic and diluted
    81,720 13,105 38,595 11,947

    Three Months Ended
    December 31,
    Year Ended
    December 31,
    (in millions)
    2021 2020 2021 2020
    Net loss
    $(11,154) $(10,860) $(53,423) $(47,704)
    EU VAT indemnification allowance adjustment [1]
    - - (1,692) -
    Other (expense) income, net [2]
    (749) (419) (59) (1,902)
    Provision for (benefit from) income taxes
    21 47 10 194
    Interest expense
    206 102 574 437
    Non-recurring system implementation and website-development expenses [3]
    283 62 1,766 215
    Restructuring expenses [4]
    1,337 370 2,024 1,229
    Equity-based compensation expense
    960 672 5,722 853
    Depreciation and amortization
    2,305 561 4,690 2,520
    Legal, professional fees and insurance expenses related to M&A transactions [5]
    203 - 8,015 903
    One-time early termination fee on operating lease in connection with moving to a centralized distribution center model [6]
    - - - 262
    Allowances for uncollectible vendor deposits incurred in connection with management's strategic initiative [7]
    - - 1,657 822
    Adjustments related to product rationalization to increase inventory turnover of slow-selling products [7]
    - - 8,666 3,222
    Obsolete inventory charges related to management's strategic initiative [7]
    - - - 1,137
    Loss related to indemnification asset not probable of recovery [1]
    - 2,264 - 4,464
    Goodwill impairment charge [8]
    - - - 8,996
    Adjusted EBITDA Loss
    $(6,588) $(7,201) $(22,050) $(24,352)

    (1) Adjustment to reserve allowance for indemnification receivable from ARI's sellers primarily due to decrease of outstanding payable resulting from lower-than-expected interest and penalties.
    (2) Includes rental and interest income and other miscellaneous income.
    (3) Includes non-recurring expenses related to multiple software implementations, including the ERP implementation; along with non-recurring website development expenses.
    (4) Includes severance payments for employees terminated as part of transformation plans and post-merger restructuring expenses
    (5) Non-recurring M&A legal, professional services, Directors and Officers insurance costs relating to the KushCo merger.
    (6) Severance related to European reduction in force and one-time termination fee for Visalia lease.
    (7) Includes certain non-recurring charges related to management's strategic initiative. These adjustments were incurred liquidate inventory on hand and on order, rationalize product offerings, improve inventory turnover of slow-selling products and vacate warehouse space for products with higher margin and marketability, along with synchronizing post-merger sales and inventory strategies.
    (8) Impairment expense recognized on our United States reporting unit's goodwill.


    Three Months Ended
    December 31,
    Year Ended
    December 31,
    (in millions)
    2021 2020 2021 2020
    Salaries, benefits and payroll taxes
    $10,854 $7,164 $34,012 $24,909
    General and administrative
    10,815 9,557 41,700 35,315
    Adjusted SG&A
    $21,669 $16,721 $75,712 $60,224
    Goodwill impairment charge [1]
    - - - 8,996
    Depreciation and amortization
    2,304 561 4,689 2,520
    Total operating expenses
    $23,973 $17,282 $80,401 $71,740

    (1) Impairment expense recognized on our United States reporting unit's goodwill.

    SOURCE: Greenlane Holdings, Inc.



    View source version on accesswire.com:
    https://www.accesswire.com/695277/Greenlane-Reports-Record-Q4-2021-Revenue-of-560-Million-Up-54-Year-over-Year

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    • Chief Executive Officer Sher Barbara was granted 1,300 shares, increasing direct ownership by 12% to 12,500 units (SEC Form 4)

      4 - Greenlane Holdings, Inc. (0001743745) (Issuer)

      8/12/24 8:01:05 PM ET
      $GNLN
      Durable Goods
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    • Chief Executive Officer Sher Barbara was granted 6,850 shares, increasing direct ownership by 157% to 11,200 units (SEC Form 4)

      4 - Greenlane Holdings, Inc. (0001743745) (Issuer)

      8/12/24 8:00:06 PM ET
      $GNLN
      Durable Goods
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    • Chief Executive Officer Sher Barbara was granted 217 shares, increasing direct ownership by 5% to 4,350 units (SEC Form 4)

      4 - Greenlane Holdings, Inc. (0001743745) (Issuer)

      8/8/24 9:31:14 PM ET
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    • 3WIN Corp. Appoints Craig Snyder as Chief Executive Officer and Director

      TEMPE, Ariz., April 22, 2025 (GLOBE NEWSWIRE) -- 3WIN Corp. ("3Win" or the "Company"), a Tempe, Arizona-based global wholesale distributor of CCELL® vape products, is pleased to announce the appointment of Craig Snyder as Chief Executive Officer ("CEO") and member of the Board of Directors, effective April 17, 2025. Mr. Snyder was previously hired as Chief Transformation Officer in early March of 2025. Relatedly, Christopher J. Sinacori has been appointed Executive Chairman of the Board and has assumed the role of President from previously being CEO. Jeffrey A. Sinacori has transitioned to Chief Operating Officer from previously being President, while remaining on the Board as a Director.

      4/22/25 9:10:12 PM ET
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      Durable Goods
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    • Greenlane Regains Full Compliance with Nasdaq Continued Listing Rules

      Appointment of new independent director, Michael Howe, brings significant expertise in commercial strategy, operations and business development BOCA RATON, FL / ACCESSWIRE / January 15, 2025 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the premier global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced it has regained compliance with Nasdaq Listing Rule 5605(c)(2), which requires Nasdaq listed companies to maintain an audit committee consisting of three independent directors. This development follows the appointment on December 31, 2024 of Mr. Michael C. Howe as an independent director

      1/15/25 8:30:00 AM ET
      $GNLN
      Durable Goods
      Consumer Discretionary
    • CORRECTION FROM SOURCE: Greenlane Appoints Rob Shields as Chief Growth Officer

      Effective dates for appointment have been added.Experienced executive in scaling business and growing revenue BOCA RATON, FL / ACCESSWIRE / December 23, 2024 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the premier global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced it that Rob Shields has been appointed to the new role of Greenlane's Chief Growth Officer (CGO), effective January 1, 2025. Shields has served as a consultant for Greenlane since October 2024. Shields is a trusted global sales and marketing leader with over 30 years of experience in growing purpose-driven consumer an

      12/23/24 11:20:00 AM ET
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    • Greenlane Reports Q2 2023 Fiscal Results

      BOCA RATON, FL / ACCESSWIRE / August 14, 2023 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), a premier global seller of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today reported financial results for the second quarter ended June 30th, 2023.Recent HighlightsRevenue for Q2 2023 decreased to $19.6 million, compared to $24.0 million in Q1 2023.Operating expenses in Q2 2023 were reduced $0.9 million or 6.2% compared with Q1 2023.Net loss attributed to Greenlane Holdings, Inc. for Q2 2023 was $10.5 million, compared to $10.2 million in Q1 2023. Basic and diluted net loss of $6.56 per share compared to a loss of $6.40 per

      8/14/23 5:20:00 PM ET
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    • Greenlane to Host Second Quarter 2023 Conference Call on August 14, 2023 at 4:30 p.m. Eastern Time

      BOCA RATON, FL / ACCESSWIRE / August 10, 2023 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the largest global sellers of premium accessories, child-resistant packaging, and specialty vaporization products, is scheduled to host a conference call and webcast on Monday, August 14, 2023 at 4:30 p.m. Eastern Time to discuss its financial and operational results for its second quarter ended June 30, 2023, followed by a question-and-answer session.The call will be webcast with an accompanying slide deck, which will be accessible by visiting the Financial Results page of Greenlane's investor relations website.All interested parties are invited to listen to the live

      8/10/23 8:30:00 AM ET
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      Durable Goods
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    • Greenlane Announces Pay Off of $15MM Asset Based Loan, Acquires Approximately $3MM in Cash

      BOCA RATON, FL / ACCESSWIRE / August 9, 2023 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (NASDAQ:GNLN), one of the largest global sellers of premium accessories, child-resistant packaging, and specialty vaporization products, today announced it has paid off its asset based loan and acquired additional cash.On August 7, 2023, Greenlane completed total repayment of the remaining balance of $4.27 million which remained outstanding under the Loan and Security Agreement, dated August 8, 2022, between Greenlane and WhiteHawk Capital Partners LP. With this successful repayment, Greenlane has fulfilled its commitments as outlined in the Loan Agreement, resulting in the release of its o

      8/9/23 5:00:00 PM ET
      $GNLN
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    • Amendment: SEC Form SC 13G/A filed by Greenlane Holdings Inc.

      SC 13G/A - Greenlane Holdings, Inc. (0001743745) (Subject)

      11/14/24 4:07:05 PM ET
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    • Amendment: SEC Form SC 13G/A filed by Greenlane Holdings Inc.

      SC 13G/A - Greenlane Holdings, Inc. (0001743745) (Subject)

      11/8/24 5:00:12 PM ET
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    • SEC Form SC 13G filed by Greenlane Holdings Inc.

      SC 13G - Greenlane Holdings, Inc. (0001743745) (Subject)

      10/16/24 9:02:44 AM ET
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      Durable Goods
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