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 partnered with Universal Distribution LATAM to distribute its Greenlane Brands in Latin America, specifically in Chile, Uruguay, and Argentina. The agreement grants exclusive and non-exclusive rights for promotion and sales, targeting sales of at least $1.5 million in the first year, $1.9 million in the second year, and $2.4 million in the third year. This asset-light strategy allows Greenlane to expand without heavy capital investment, leveraging local expertise.
Greenlane Holdings (NASDAQ: GNLN) announces a conference call on May 17, 2022, at 8:30 a.m. Eastern Time to discuss its financial and operational results for Q1 2022, which ended on March 31, 2022. The call will include a live presentation accessible via their Financial Results page. Interested parties can join by phone or online. A replay will be available until May 31, 2022. Greenlane is a leading global seller of cannabis accessories and products, serving over 8,500 retail locations.
Greenlane Holdings (Nasdaq: GNLN) will participate in the Benzinga Cannabis Capital Conference on April 20-21, 2022, at the Fontainebleau Miami Beach hotel. CEO Nick Kovacevich is scheduled to speak on April 21st at 3:20 PM ET and will hold one-on-one meetings with investors throughout the event. This conference, featuring over 1,000 leaders from the cannabis sector, offers exclusive networking and investment opportunities. The event will include a newly added expo floor and enhanced features for attendees. Register for the event through provided links.
Greenlane Holdings reported a 54% revenue increase to $56 million in Q4 2021 and a 20.1% rise to $166.1 million for the full year. The company implemented a strategic plan aiming for positive adjusted EBITDA by Q3 2022, focusing on reducing costs by nearly 40% and generating $30 million in liquidity. The net loss for Q4 2021 was $11.15 million. Notably, sales of Greenlane Brands grew 52.3% in 2021, although the consumer goods segment experienced a 23.9% decline in Q4 due to reduced lower-margin sales. The company remains optimistic about future growth despite industry challenges.
Greenlane Holdings (NASDAQ:GNLN) will host a conference call on March 31, 2022, at 8:30 a.m. Eastern Time to discuss its fourth quarter and full-year financial results for 2021. Financial results will be reported after market close on March 30, 2022. Interested parties can access the call via dial-in or through a webcast link. The company aims to provide insights into its operational and financial performance, followed by a Q&A session.
Greenlane Holdings (NASDAQ:GNLN) announced a leadership change, appointing Craig Snyder as Chief Commercial Officer and confirming the departure of Adam Schoenfeld as Chief Marketing Officer. The company is implementing significant cost-cutting measures, expecting to save $8 million annually and reduce adjusted SG&A expenses to $14-16 million by Q3 2022. Greenlane aims to increase liquidity through asset sales and a possible asset-based loan, targeting over $30 million. Preliminary financials project net sales of $55.5-56.5 million for Q4 2021 and an expected net loss of $11-13 million.
Greenlane Holdings (NASDAQ:GNLN) announced preliminary fourth quarter revenue between $55.5 million and $56.5 million, marking a 54% increase year-over-year, boosted by sales of Greenlane Brands and the recent merger with KushCo. For the full year, estimated sales are $165.5 million to $166.5 million, with gross margins expected at 18% to 20% for Q4. The company aims to leverage merger synergies, achieving approximately $8 million in cost savings. A conference call is scheduled for March 30, 2022, to discuss detailed results.
Greenlane Holdings (NASDAQ:GNLN) has received approval from the US Postal Service to ship electronic nicotine delivery systems (ENDS) products, significantly impacting sales and logistics. This approval allows over 97% of the company's shipments to utilize USPS and major carriers, reducing the impact of the PACT Act on annual sales to less than 3%. CEO Nick Kovacevich emphasized the company's readiness to comply with regulatory changes while enhancing customer experiences and logistics capabilities for third-party brands.
Greenlane Holdings (NASDAQ:GNLN) announced it achieved approximately $8 million in cost-saving synergies in the four months post-merger with KushCo. The company aims for total synergies of $15 to $20 million within 24 months. Leadership changes include Aaron LoCascio stepping down as President while remaining on the board and providing an $8 million bridge loan for growth initiatives. Adam Schoenfeld transitions to Chief Marketing Officer, streamlining operations and reducing overhead costs.
Greenlane Holdings has successfully acquired DaVinci, enhancing its portfolio to nine high-margin brands. This acquisition is projected to generate approximately $12 million in sales for 2021 with gross margins of 60%. The total acquisition cost is up to $20 million, contingent on performance. Greenlane aims to meet its revenue targets of $70 million and $100 million for 2022 and 2023, respectively, with anticipated gross margins exceeding 45%. The deal is expected to be immediately accretive to Greenlane’s revenue and earnings.
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.?
