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 (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.
Greenlane Holdings (GNLN) will hold a conference call on November 17, 2020, at 8:30 a.m. ET to discuss third-quarter results for the period ended September 30, 2020. The financial results will be released prior to the call. Greenlane is a leading seller of premium cannabis accessories and vaporization products, serving over 11,000 retail locations globally. The company features a diverse brand portfolio, including partnerships with PAX Labs and Storz & Bickel. For investor inquiries, reach out to MATTIO Communications.
Greenlane Holdings, Inc. (GNLN), a major global seller of cannabis accessories, has rescheduled its Q3 2020 earnings conference call to the week of November 16, 2020. This change is due to the need to finalize tax entries related to its European operations. Greenlane is recognized for its extensive portfolio, including brands like PAX Labs and Storz & Bickel, and operates over 11,000 retail locations. The company also emphasizes its commitment to transparency, citing forward-looking statements that highlight potential risks and uncertainties impacting business performance.
Greenlane Holdings, a leader in premium cannabis accessories, has scheduled a conference call to discuss its third-quarter results for 2020. The call will take place on Thursday, November 12th, 2020, at 8:30 a.m. Eastern Time. Investors can access financial results before the call. The dial-in number is (833) 519-1285 with conference ID 9693218. For web access, listeners can click here. A replay will be available until November 26th, 2020.
Greenlane Holdings (Nasdaq: GNLN) announced the launch of Eyce's ProTeck™ Glass Series, featuring three new innovative products: the Eyce Spark, Ash Tray, and Rolling Tray. These items integrate borosilicate glass with silicone for enhanced functionality and durability. The Spark includes a battery-powered LED light and storage features. The Ash Tray has a dual-purpose design, while the Rolling Tray is spacious and versatile. Retailers can purchase these products through Greenlane's website, expanding their appeal to a diverse consumer base in the cannabis accessories market.
Greenlane Holdings (Nasdaq: GNLN) announced a global distribution deal for Marley Natural accessories on October 12, 2020. This partnership will expand the iconic cannabis brand's presence into Central and South America, the Caribbean, and Europe. The accessories feature sustainable materials and are designed with a nod to Bob Marley's legacy. Both companies aim to enhance market accessibility and reach a broader consumer audience. This collaboration marks a significant step in Greenlane's strategy to bolster its global footprint.
Greenlane Holdings (Nasdaq: GNLN) announces leadership changes, appointing Michael Cellucci as President of Sales and Marketing for North America, and Michael Ouwendijk as Sales & Marketing Director for Greenlane Europe. Cellucci, with over 20 years in consumer packaged goods, previously led Drew Estate to significant growth. Ouwendijk has a history in enhancing sales strategies across various brands. This strategic hiring aims to capitalize on higher-margin revenue opportunities and strengthen growth in their respective markets.
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