Greenlane Holdings Inc
For the period ended Sep 30, 2023. Filed Jan 9, 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, 2023 · Filed Jan 9, 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 Cash Flows
| Nine months ended September 30, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss (including amounts attributable to non-controlling interest) | $(27,869) | $(170,475) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 1,492 | 6,876 |
| Equity-based compensation expense | 255 | 2,020 |
| Goodwill and indefinite-lived intangibles impairment charge | — | 66,760 |
| Definite-lived intangibles impairment charge | — | 50,694 |
| Property and equipment impairment charge | — | 7,336 |
| Change in fair value of contingent consideration | 103 | (1,197) |
| Change in provision for doubtful accounts | (154) | 2,637 |
| Gain related to indemnification asset | — | (2,018) |
| (Gain) loss on disposal of fixed assets | — | 820 |
| (Gain) loss on disposal of held-for-sale assets | — | (780) |
| Gain related to VIBES disposition / deconsolidation (Note 3) | — | (2,062) |
| Unrealized loss on equity investments | — | 1,214 |
| Realized (gain) loss on interest rate swap contract | — | (408) |
| Amortization of deferred financing costs and debt discount | 2,711 | 446 |
| Other | (17) | (17) |
| Changes in operating assets and liabilities, net of the effects of acquisitions: | ||
| Decrease (increase) in accounts receivable | 4,697 | 247 |
| Decrease (increase) in inventories | 18,005 | 19,044 |
| Decrease (increase) in vendor deposits | 2,945 | 5,027 |
| Decrease (increase) in other current assets | 3,968 | 1,257 |
| (Decrease) increase in accounts payable | (3,121) | (5,384) |
| (Decrease) Increase in accrued expenses and other liabilities | (250) | (1,124) |
| (Decrease) increase in customer deposits | (1,573) | (3,401) |
| Net cash (used in) provided by operating activities | 1,192 | (22,488) |
| Cash flows from investing activities: | ||
| Proceeds from VIBES disposition (Note 3) | — | 4,567 |
| Purchases of property and equipment, net | (633) | (1,660) |
| Proceeds from the sale of equity investments | 53 | — |
| Proceeds from sale of assets held for sale | — | 9,593 |
| Net cash provided by (used in) investing activities | (580) | 12,500 |
| Cash flows from financing activities: | ||
| Proceeds from issuance of Class A common stock, net of costs | 3,852 | 14,064 |
| 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 | (851) | — |
| Proceeds from future receivables financing | 3,000 | — |
| Payments on Eyce and DaVinci promissory notes | (2,539) | (2,791) |
| 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 | (300) | (875) |
| Other | (29) | (128) |
| Net cash provided by financing activities | (10,528) | 7,535 |
| Effects of exchange rate changes on cash and restricted cash | 183 | (210) |
| Net (decrease) in cash and restricted cash | (9,733) | (2,663) |
| Cash and restricted cash, as of beginning of the period | 12,176 | 12,857 |
| Cash and restricted cash, as of end of the period | $2,443 | $10,194 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
| Reconciliation of cash and restricted cash to condensed consolidated balance sheets | ||
|---|---|---|
| Nine months ended September 30, | ||
| 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 | $2,443 | $8,039 |
| Restricted cash | — | 2,155 |
| Total cash and restricted cash, end of period | $2,443 | $10,194 |
| Supplemental disclosures of cash flow information | ||
| Cash paid during the period for interest | $(4,495) | $(1,598) |
| Cash paid for amounts included in the measurement of lease liabilities | $1,353 | $2,120 |
| Non-cash investing and financing activities: | ||
| Non-cash purchases of property and equipment | $133 | $1,617 |
| Issuance of Class A common stock for business acquisitions | $— | $3,486 |
| Decrease in non-controlling interest as a result of exchanges for Class A common stock | $— | $(10,291) |
| Decrease in non-controlling interest as a result of VIBES disposition | $— | $(1,789) |
| Transfer from contingent consideration to notes payable | $1,150 | $— |
| Transfer from accrued expenses to notes payable | $437 | $— |
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