Welcome to our dedicated page for Greenlane Holdings news (Ticker: GNLN), a resource for investors and traders seeking the latest updates and insights on Greenlane Holdings stock.
Greenlane Holdings, Inc. (NASDAQ: GNLN) is recognized as a leading distributor of premium brands within the head shop, smoke shop, and dispensary channels. Founded in 2005, Greenlane has established itself as an industry leader by offering innovative products, competitive pricing, and exceptional customer service. The company operates as a global platform, distributing a wide range of smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and end consumers.
Greenlane's product portfolio includes vaporizers, parts, cleaning accessories, grinders, storage containers, pipes, rolling papers, and customized premium packaging. The company markets its products through business-to-business and business-to-consumer channels in the United States, Canada, and Europe, with a majority of its revenue derived from the U.S. market.
Greenlane's proprietary brands include DaVinci Vaporizers, Higher Standards, Groove, and Eyce. The company also holds exclusive licenses for Marley Natural and K.Haring branded products. Notable collaborations include renowned brands such as Storz & Bickel, Pax, VIBES, and CCELL. Greenlane's varied product offerings are available through its e-commerce platforms, including Vapor.com, Vaposhop.com, DaVinciVaporizer.com, PuffItUp.com, EyceMolds.com, HigherStandards.com, and MarleyNaturalShop.com.
Recent milestones include the launch of the DaVinci ARTIQ, a portable vaporizer featuring clean technology and a user-friendly design. Greenlane has also expanded its product line to include disposable nicotine offerings, aligning with consumer demand and market trends. Financially, the company has shown a commitment to growth and profitability through strategic product launches and operational efficiencies.
In August 2023, Greenlane achieved significant progress by repaying its outstanding asset-based loan, thereby fulfilling its financial commitments and acquiring additional cash for future endeavors. The company's recent financial results highlight a continuous effort to improve margins, reduce costs, and achieve profitability by Q4 2023.
For more information about Greenlane Holdings, Inc., please visit their investor relations website at https://investor.gnln.com.
Greenlane Holdings (GNLN) reported a 46.3% increase in revenue for FY 2020, totaling $138.3 million, despite a 25.2% decline from FY 2019. Core revenue rose 12.7% to $125.2 million and Greenlane branded sales jumped 50.5% to $7.8 million in Q4 2020. Merchandise gross margin improved to 28.2% from 15.7% in FY 2019. However, cash decreased by 36.3% year-over-year to $30.4 million. The company aims to enhance its revenue mix and cost structure while expanding its global distribution post-acquisition of Eyce.
Greenlane Holdings (NASDAQ: GNLN) announced a conference call scheduled for March 31, 2021, at 8:30 a.m. ET to discuss its financial results for the fourth quarter and year ended December 31, 2020. The call will follow the release of the financial results. Investors can access the call via a provided webcast link or by phone at (833) 519-1285 with Conference ID 1881585. A replay will be available until April 14, 2021. Greenlane is a leading seller of cannabis accessories and operates in multiple regions, serving over 6,000 customers globally.
Greenlane Holdings (NASDAQ: GNLN) has launched the VIBES™ Organic Hemp Rolling Papers and Cones Collection. This new product reflects a commitment to sustainability and enhancing the smoking experience for connoisseurs. Made from 100% organic hemp fibers and featuring organic Arabic gum for a natural seal, the line showcases a variety of sizes including 1 ¼, King Size Slim, and Cubano. Co-founder Berner emphasizes the superior quality of the product, aiming to cater to discerning smokers. The collection is available at select retailers with limited availability.
Greenlane Holdings (NASDAQ: GNLN) has acquired Eyce, a leader in specialty silicone smoking products, enhancing its portfolio of premium cannabis accessories. This strategic acquisition aims to drive revenue growth and profitability for Greenlane, with the company expressing confidence in the immediate accretive impact on its earnings. Eyce's established market presence and innovative product offerings align with Greenlane's goal to expand its brand footprint in the cannabis sector. The acquisition reflects Greenlane's commitment to acquiring high-quality brands to leverage growth opportunities.
Greenlane Holdings, Inc. (NASDAQ: GNLN) will participate in SXSW’s Featured Session titled ‘Celebrities Redefining Cannabis Entrepreneurship.’ Moderated by Eric Hammond, the panel includes notable figures like Berner (CEO of Cookies), Al Harrington (Viola Brands), and Flo Storch (Koko Nuggz). The discussion will explore the evolving cannabis industry, addressing social and economic disparities and highlighting successful collaborations with influential entrepreneurs. Greenlane has been Berner's partner since 2019, working on initiatives like the VIBES rolling papers and Cookies-branded accessories.
Greenlane (NASDAQ: GNLN) has partnered with the Last Prisoner Project (LPP) to support cannabis-related criminal justice reform. Greenlane will contribute a portion of its sales from future product collaborations and will encourage customers to donate to LPP at checkout. This initiative aims to raise awareness of social injustices within the cannabis industry and assist individuals with cannabis convictions. The partnership aligns with Greenlane's commitment to social responsibility, reflected in CEO Aaron LoCascio's statement on their dedication to addressing inequality in the cannabis space.
Greenlane Holdings (Nasdaq: GNLN) has renewed its exclusive distribution partnership with PAX Labs, a leading cannabis vaporizer brand. This agreement allows Greenlane to continue distributing all PAX devices across the U.S., utilizing its network of over 11,000 retail locations. This strategic collaboration highlights Greenlane's commitment to delivering premium cannabis experiences while expanding PAX’s market reach in both adult use and medical sectors.
Greenlane's CEO noted the importance of this partnership, emphasizing the innovative nature of PAX products.
Greenlane Holdings (NASDAQ: GNLN) launches vapor.com Canada, enhancing its e-commerce capabilities for Canadian customers. This platform offers economical shipping and features both English and French translations. Following a growth trend in cannabis sales, which reached $244.9 million CAD in August (up 5.2% from July), Greenlane aims to provide an exceptional shopping experience. Holiday promotions will be active from 11/23 to 12/4, coinciding with Black Friday and Cyber Monday to attract more customers.
Greenlane Holdings (Nasdaq: GNLN) announces the launch of the Stündenglass Gravity Hookah in U.S. markets through a retail partnership, with plans for availability in Canada and the EU in Q4. This innovative, gravity-powered smoking accessory utilizes a 360-degree system for a hands-free experience, accommodating hookah, dry herb, and concentrates. The Gravity Hookah features a 3-foot magnetic hose, aluminum bowl, and is dishwasher-safe for easy maintenance. Greenlane aims to elevate consumer experiences with this cutting-edge product, responding to significant demand in the market.
Greenlane Holdings reported Q3 2020 financial results, showing core revenue growth of 36% to $32.3 million compared to Q3 2019. Greenlane Brands grew 65% to $5.6 million. Total revenue rose 10% sequentially to $35.8 million. The company implemented G&A cuts, targeting annual savings of $5 million. Cash reserves stand at $40 million. Despite a net loss of $13.8 million, adjusted net loss improved to $6.9 million. Greenlane is focused on transitioning to high-margin products and anticipates a return to profitability in early 2021.
FAQ
What is the current stock price of Greenlane Holdings (GNLN)?
What is the market cap of Greenlane Holdings (GNLN)?
What does Greenlane Holdings, Inc. do?
What are some of Greenlane's proprietary brands?
Where does Greenlane Holdings, Inc. operate?
What recent products has Greenlane launched?
How does Greenlane distribute its products?
What was a significant financial milestone for Greenlane in 2023?
What is Greenlane's strategy for achieving profitability?
Who are some of Greenlane's key partners?
What is unique about Greenlane's Eyce products?
Where can I find more information about Greenlane Holdings, Inc.?
