Greenlane Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 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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Condensed Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except per share amounts)
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Net sales | $4,038 | $11,800 | $11,616 | $55,384 |
| Cost of sales | 1,011 | 8,671 | 6,066 | 42,162 |
| Gross profit | 3,027 | 3,129 | 5,550 | 13,222 |
| Operating expenses: | ||||
| Salaries, benefits and payroll taxes | 1,609 | 4,059 | 6,066 | 14,586 |
| General and administrative | 1,771 | 5,433 | 6,864 | 20,209 |
| Depreciation and amortization | 185 | 524 | 635 | 1,492 |
| Total operating expenses | 3,565 | 10,016 | 13,565 | 36,287 |
| (Loss) from operations | (538) | (6,887) | (8,015) | (23,065) |
| Other income (expense), net: | ||||
| Interest expense | (3,219) | (3,415) | (4,030) | (5,148) |
| Change in fair value of contingent consideration | — | — | 1,000 | — |
| Gain on extinguishment of debt | — | — | 2,166 | — |
| Other income (expense), net | — | 204 | (3) | 338 |
| Total other income (expense), net | (3,219) | (3,211) | (867) | (4,810) |
| Loss before income taxes | (3,757) | (10,098) | (8,882) | (27,875) |
| Provision for (benefit from) income taxes | — | — | — | (6) |
| Net loss | (3,757) | (10,098) | (8,882) | (27,869) |
| Less: Net income (loss) attributable to non-controlling interest | — | 19 | (17) | (27) |
| Net loss attributable to Greenlane Holdings, Inc. | $(3,757) | $(10,117) | $(8,865) | $(27,842) |
| Net loss attributable to Class A common stock per share - basic and diluted (Note 9)* | $(2.28) | $(1.91) | $(12.20) | $(9.67) |
| Weighted-average shares of Class A common stock outstanding - basic and diluted (Note 9)* | 1,647 | 5,513 | 727 | 2,918 |
| Other comprehensive income (loss): | ||||
| Foreign currency translation adjustments | 4 | 24 | 3 | 181 |
| Comprehensive loss | (3,753) | (10,122) | (8,879) | (27,688) |
| Less: Comprehensive loss attributable to non-controlling interest | — | — | (17) | (8) |
| Comprehensive loss attributable to Greenlane Holdings, Inc. | $(3,753) | $(10,122) | $(8,862) | $(27,680) |
| * | After giving effect to the Reverse Stock Splits - See Note 9 - Stockholders’ Equity. |
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