Greenlane Holdings Inc
For the period ended Dec 31, 2023. Filed Jul 19, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Jul 19, 2024
GNLN$1.14-1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| For the year ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss (including amounts attributable to non-controlling interest) | $(32,325) | $(182,226) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
| Depreciation and amortization | 2,243 | 7,405 |
| Equity-based compensation expense | 284 | 2,298 |
| Goodwill and indefinite lived intangibles impairment charge | — | 71,360 |
| Definite-lived intangibles impairment charge | — | 50,694 |
| Property and equipment impairment charge | — | 7,336 |
| Change in fair value of contingent consideration | 262 | 509 |
| Write-off of Eyce 2022 Contingent Payment in conjunction with the Amended Eyce APA | — | (267) |
| Change in provision for credit losses | 188 | 3,311 |
| Gain related to indemnification asset | — | (2,018) |
| Loss on disposal of fixed assets | 118 | 1,398 |
| Gain on disposal of held-for-sale assets | — | (705) |
| Gain related to VIBES disposition / deconsolidation (Note 3) | — | (2,062) |
| Unrealized loss on equity investments | 629 | 1,214 |
| Realized gain on interest rate swap contract | — | (408) |
| Amortization of deferred financing costs and debt discount | 2,820 | 644 |
| Other | — | (124) |
| Changes in operating assets and liabilities, net of the effects of acquisitions: | ||
| Decrease in accounts receivable | 4,586 | 4,910 |
| Decrease in inventories | 20,113 | 26,345 |
| Decrease in vendor deposits | 2,531 | 7,899 |
| Decrease (increase) in other current assets | 7,769 | (2,595) |
| Decrease in accounts payable | (2,770) | (6,459) |
| Decrease in accrued expenses and other liabilities | (7,032) | (10,944) |
| Decrease in customer deposits | (1,208) | (3,941) |
| Net cash provided by (used in) operating activities | (1,793) | (26,426) |
| Cash flows from investing activities: | ||
| Proceeds from VIBES disposition (Note 3) | — | 4,567 |
| Purchase of property and equipment, net | (1,007) | (2,784) |
| Proceeds from sale of assets held for sale | — | 9,593 |
| Proceeds from sale of equity investments | 1,037 | 649 |
| Net cash provided by investing activities | 30 | 12,025 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of Class A common stock, net of issuance costs | 3,852 | 21,075 |
| Proceeds from (repayment of) Asset-Based Loan | (15,000) | 14,550 |
| Proceeds from Secured Bridge Loan, net of costs | 2,090 | — |
| Debt issuance costs | (751) | (1,472) |
| Repayment of loan against future accounts receivable | (1,721) | — |
| Proceeds from future receivables financing | 3,894 | — |
| Payments on Eyce and DaVinci promissory notes | (2,133) | (3,407) |
| Payments on Real Estate Note | — | (7,958) |
| Repayment of Bridge Loan | — | (8,000) |
| Proceeds from termination of interest rate swap | — | 145 |
| Purchase consideration paid for Eyce and DaVinci acquisition | (350) | (875) |
| Other | (21) | (128) |
| Net cash (used in) provided by financing activities | (10,140) | 13,930 |
| Effects of exchange rate changes on cash | 190 | (210) |
| Net decrease in cash and cash equivalents | (11,713) | (681) |
| Cash and cash equivalents, as of beginning of the year | 12,176 | 12,857 |
| Cash and cash equivalents, as of end of year | $463 | $12,176 |
GREENLANE HOLDINGS, INC.
Reconciliation of cash and restricted cash to condensed consolidated balance sheets:
| For the year ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Beginning of the period | ||
| Cash | $6,458 | $12,857 |
| Restricted cash | 5,718 | — |
| Total cash and restricted cash, beginning of period | $12,176 | $12,857 |
| End of the period | ||
| Cash | $463 | $6,458 |
| Restricted cash | — | 5,718 |
| Total cash and restricted cash, end of period | $463 | $12,176 |
| Supplemental disclosures of cash flow information | ||
| Cash paid during the period for interest | $4,495 | $2,251 |
| Cash paid during the period for income taxes | $— | $76 |
| Cash paid for amounts included in the measurement of lease liabilities | $1,353 | $2,659 |
| Non-cash investing activities and financing activities: | ||
| Issuance of Class A common stock, warrants, and stock options for business acquisitions | $— | $3,486 |
| Non-cash purchases of property and equipment | $133 | $909 |
| Decrease in non-controlling interest as a result of exchanges for Class A common stock | $— | $(7,655) |
| Decrease in non-controlling interest as a result of VIBES disposition | $— | $(1,789) |
| Transfer from contingent consideration to notes payable | $1,650 | $— |
| Transfer from accrued expenses to notes payable | $437 | $— |
The accompanying notes are an integral part of these consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.