Greenlane Holdings Inc
NASDAQ:GNLN
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Greenlane Holdings Inc
Greenlane Holdings, Inc. distributes and supplies vaporization products and accessories for vape shops and dispensaries. The company is headquartered in Boca Raton, Florida and currently employs 256 full-time employees. The company went IPO on 2019-04-18. The firm sells cannabis accessories and liquid nicotine products across the world. The company operates as a third-party brand accelerator and a distribution platform for consumption devices and lifestyle brands serving the global cannabis, hemp-derived cannabidiol (CBD) and liquid nicotine markets. The firm is in the partnership with many brands, including PAX Labs, Grenco Science, Storz & Bickel, Firefly, DaVinci, Santa Cruz Shredder, Cookies and others. The company has also set out to develop a portfolio of the Company’s own brands, Greenlane Brands. The firm Greenlane Brands include VIBES Rolling Papers, Pollen Gear, the Marley Natural accessory line, Aerospaced & Groove grinders, K. Haring Glass Collections, and Higher Standards, which serves as both upscale product line and an retail experience with flagship stores at New York City’s famed Chelsea Market and a location in California's iconic Malibu Village.
Greenlane Holdings, Inc. distributes and supplies vaporization products and accessories for vape shops and dispensaries. The company is headquartered in Boca Raton, Florida and currently employs 256 full-time employees. The company went IPO on 2019-04-18. The firm sells cannabis accessories and liquid nicotine products across the world. The company operates as a third-party brand accelerator and a distribution platform for consumption devices and lifestyle brands serving the global cannabis, hemp-derived cannabidiol (CBD) and liquid nicotine markets. The firm is in the partnership with many brands, including PAX Labs, Grenco Science, Storz & Bickel, Firefly, DaVinci, Santa Cruz Shredder, Cookies and others. The company has also set out to develop a portfolio of the Company’s own brands, Greenlane Brands. The firm Greenlane Brands include VIBES Rolling Papers, Pollen Gear, the Marley Natural accessory line, Aerospaced & Groove grinders, K. Haring Glass Collections, and Higher Standards, which serves as both upscale product line and an retail experience with flagship stores at New York City’s famed Chelsea Market and a location in California's iconic Malibu Village.
Revenue Decline: Q2 revenue fell to $19.6 million, down 18.1% from Q1 and 51% year-over-year, due to seasonality, business model shifts, and restructuring.
Margins Improve: Gross margin increased slightly to 23.3% in Q2, up from 23% in Q1 and 20.3% last year, helped by fewer inventory write-offs and asset-light initiatives.
Cost Reduction: Operating expenses dropped by $900,000 from Q1 to Q2, with further cuts expected in the next quarters from facility consolidation and labor reductions.
Net Loss: Q2 net loss was $10.5 million, slightly higher than Q1, though losses have narrowed on a year-to-date basis versus 2022.
Nicotine Product Expansion: The company launched new disposable nicotine offerings and expects these products to boost revenue and margins in the second half.
Asset-Light Strategy: Shift to net revenue recognition and partnership with CCELL is expected to moderate revenue but improve margins going forward.
MSO Partnerships: Engagement with multi-state cannabis operators (MSOs) is deepening as dispensaries seek greater product variety and retail analytics.
