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, Inc. (NASDAQ:GNLN) CEO Barbara Sher provided a corporate update in a letter to shareholders. Key points include:
- The global smoking accessories market is projected to reach $86.54 billion by 2031, growing at a CAGR of 3.70%
- Greenlane has regained compliance with Nasdaq listing requirements
- The company is reducing SG&A costs and streamlining operations
- Greenlane is working to restructure existing debt obligations to increase financial flexibility
- The company is realigning its sales and marketing organization to accelerate growth
- Greenlane is focusing on reinvigorating existing partnerships and creating new opportunities
Greenlane Holdings (NASDAQ: GNLN) announced that on May 21, 2024, it received a Nasdaq notification of non-compliance with Listing Rule 5250(c)(1) due to its failure to timely file its Quarterly Report on Form 10-Q for Q1 2024.
The company had previously received a similar notice on April 18, 2024, for not filing its Annual Report on Form 10-K for FY 2023. Greenlane has until June 17, 2024, to submit a plan to regain compliance. If accepted, Nasdaq may grant up to an additional 180 days to meet the requirements. Failure to comply could result in delisting.
Greenlane is working to submit the necessary filings as soon as possible. However, there is no assurance that the filings will be made within the 60-day window.
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