GNLNNasdaqWholesale-Durable Goods, NECUS GAAP · USD

Greenlane Holdings, Inc.

Greenlane Holdings, Inc. distributes cannabis accessories, vaporization products, packaging, and related lifestyle items through wholesale, retail, and e-commerce channels. The company combines proprietary brands such as Groove, Higher Standards, and Pollen Gear with selected third-party brands and strategic partner programs to serve cannabis operators, specialty retailers, and direct consumers.

Kysy yhtiöstä
Liikevaihto4,4milj. USD
−67,2 %v/v
Liikevoitto (EBIT)−54,2milj. USD
−359,1 %v/v
EBIT-marginaali−1 245,6%
−1 156,6 %-yks.v/v
Nettotulos−85,6milj. USD
−385,1 %v/v
Vapaa kassavirta−16,4milj. USD
−133,9 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−200−1000100200milj. USD2020: 138 milj. USD2020: EBIT −49 milj. USD20202021: 166 milj. USD2021: EBIT −53 milj. USD20212022: 137 milj. USD2022: EBIT −128 milj. USD20222023: 65 milj. USD2023: EBIT −26 milj. USD20232024: 13 milj. USD2024: EBIT −12 milj. USD20242025: 4,4 milj. USD2025: EBIT −54 milj. USD20254,4−54
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Proprietary consumer brands35 %

Owned brands sold to consumers and retailers, including Groove, Higher Standards, and Pollen Gear.

Third-party accessories and devices30 %

Curated branded vaporizers, pipes, and accessories sourced from partner manufacturers.

Packaging and industrial ancillary products20 %

Child-resistant packaging and operational products for cannabis businesses.

E-commerce and direct-to-consumer sales10 %

Owned web stores and marketplace channels that sell directly to end customers.

Strategic partnership commissions5 %

Commission-based revenue from packaging and vape partnerships after restructuring.

Asiakkaat

Greenlane sells to cannabis operators, including producers, processors, brands, and retailers that need ancillary products for daily operations and customer-facing sales. It also serves specialty retailers, smoke shops, head shops, convenience stores, and direct consumers through its own web stores and online marketplaces. The business is split between wholesale customers that value assortment and supply reliability, and e-commerce buyers that value brand selection, convenience, and price.

Cannabis operators

Buy packaging, vaporization, and operational ancillary products for daily use and growth.

Specialty retailers and smoke shops

Purchase branded accessories and devices for resale to end consumers.

Direct-to-consumer shoppers

Buy proprietary and partner brands through Greenlane's owned e-commerce sites and marketplaces.

Convenience and head shops

Source a broad assortment of accessories and vaporization products for retail shelves.

Cannabis MSOs, SSOs, and LPs

Large cannabis operators that buy at scale and value supply continuity and product breadth.

Strategia

Management is focused on shrinking low-margin gross sales activity and shifting more of the business toward higher-margin owned brands and commission-based partnerships. The company is also reducing cost structure, consolidating facilities, and improving working capital to support profitability and liquidity. E-commerce platform upgrades and new product introductions are intended to rebuild revenue without returning to the prior cost base.

Expand higher-margin owned brandsKeskipitkä aikaväli

Owned brands should improve gross margin and reduce dependence on lower-margin third-party sales.

Increase commission-based and strategic partnership revenueLyhyt aikaväli

Commission structures can preserve working capital and lower inventory exposure.

Right-size the cost baseLyhyt aikaväli

Lower overhead is necessary to reach profitability in a weaker demand environment.

Strengthen e-commerce and B2B platformsKeskipitkä aikaväli

Better digital execution supports direct sales, customer retention, and scalable growth.

Maantiede

Q1/2026

Greenlane merchandises and distributes products in the United States, Canada, Europe, and Latin America. The company operates its own distribution center in the United States and uses third-party logistics locations in Canada, which makes North American fulfillment central to its operating model. Its exposure to tariffs and U.S.-China trade policy also matters because the business depends on imported products and global supplier relationships.

USA100 %

Riskit

Greenlane faces going-concern and liquidity risk because demand weakness, restructuring, and operating losses have pressured cash generation. The business is also exposed to customer concentration, supplier dependence, tariff and trade policy changes, and regulatory uncertainty tied to cannabis-related products and shipping rules. Nasdaq listing compliance issues and the need for additional capital add further execution and financing risk.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Going-concern and liquidity pressure1Tariff and trade policy exposure4Nasdaq listing compliance5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Going-concern and liquidity pressureVaikutus: KriittinenTodennäköisyys: Korkea

    Management says continued operations depend on executing cost cuts, raising capital, and improving profitability.

    Kohdistuu: Operating cash burn and limited financial flexibility

  2. Demand weakness in cannabis ancillary productsVaikutus: Korkea

    Lower-than-planned demand reduces revenue and makes fixed-cost absorption harder.

    Kohdistuu: Wholesale and e-commerce sales

  3. Supplier and strategic partner dependenceVaikutus: Korkea

    The model relies on third-party brands, logistics partners, and commission arrangements.

    Kohdistuu: Inventory availability and margin conversion

  4. Tariff and trade policy exposureVaikutus: KeskitasoTodennäköisyys: Korkea

    Imported products and global sourcing can be affected by U.S.-China trade disputes and tariffs.

    Kohdistuu: Product cost and supply chain continuity

  5. Nasdaq listing complianceVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    The company has faced repeated bid-price compliance issues and discretionary monitoring.

    Kohdistuu: Market access and investor confidence

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition and commission accounting

Moving from gross sales to commissions lowers reported revenue but can improve margin presentation.

Vaikutus: Affects top-line comparability and gross margin

Inventory valuation and obsolescence

Accessory and vape products can become obsolete or damaged, requiring write-downs.

Vaikutus: Affects cost of sales and gross profit

Restructuring and severance accruals

Workforce reductions and facility consolidation create judgment around charges and timing.

Vaikutus: Affects operating expenses and cash flow

Seasonality in direct-to-consumer sales

Fourth-quarter holiday demand and promotions can distort quarterly trends.

Vaikutus: Affects revenue timing and period comparability

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Ispire Technology Inc.

ISPR · Cigarettes

Green Thumb Industries Inc.

GTBIF · Agricultural Production-Crops

Green Plains Inc.

GPRE · Industrial Organic Chemicals

Trulieve Cannabis Corp.

TRLV · Medicinal Chemicals & Botanical Products

Planet 13 Holdings Inc.

PLNH · Agricultural Production-Crops

Verano Holdings Corp.

VRNO · Agricultural Production-Crops

Päivitetty: 24.9.2026

Greenlane Holdings, Inc. (GNLN) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo