New Risk • 14h
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 271% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$18m free cash flow). Share price has been highly volatile over the past 3 months (30% average weekly change). Shareholders have been substantially diluted in the past year (271% increase in shares outstanding). Market cap is less than US$10m (US$1.93m market cap). Minor Risk Revenue is less than US$5m (US$3.3m revenue). Reported Earnings • May 18
First quarter 2026 earnings released First quarter 2026 results: US$4.49 loss per share. Net loss: US$18.4m (loss widened 375% from 1Q 2025). Announcement • Apr 27
Greenlane Holdings, Inc. Regains Compliance with Nasdaq Minimum Bid Price Requirement As previously disclosed, on March 25, 2026, Greenlane Holdings, Inc. (the Company) received a written notice (the Notice) from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market LLC (Nasdaq) indicating that Nasdaq staff had determined to delist the Company's Class A common stock, par value $0.01 per share (the Common Stock) from the Nasdaq Capital Market since it failed to maintain a minimum bid price of $1.00 per share for 30 consecutive business days, in violation of Nasdaq Listing Rule 5550(a)(2). The Company requested a hearing, which stayed the suspension of trading pending the outcome of the hearing. On April 21, 2026, the Company was notified by Nasdaq that the Company has regained compliance with the minimum bid price requirement set in Nasdaq Listing Rule 5550(a)(2) and that the Company is therefore in compliance with the Nasdaq Capital Market's listing requirements. As a result, the Company's hearing that had been scheduled for May 5, 2026, has been cancelled, and this matter is now closed. The Common Stock will continue to be listed and traded on The Nasdaq Capital Market. Announcement • Apr 09
Greenlane Holdings, Inc. (NasdaqCM:GNLN) announces an Equity Buyback for $2 million worth of its shares. Greenlane Holdings, Inc. (NasdaqCM:GNLN) announces a share repurchase program. Under the program, the company will repurchase up to $2 million worth of its Class A common shares. The purpose of program is to enhance shareholder value. Any shares repurchased will be retired and returned to the status of authorized but unissued shares of common stock. The Repurchase Program has no fixed expiration date. Announcement • Apr 04
Greenlane Holdings Inc Announces Reverse Stock Split of Common Stock to Maintain Compliance with Nasdaq Listing Rule Greenlane Holdings, Inc. announced that it will effect a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-8, to be effective as of April 6, 2026. Greenlane's common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on April 6, 2026. Following the reverse stock split, Greenlane's common stock will continue to trade on The Nasdaq Capital Market under the symbol GNLN with the new CUSIP number, 395330 608. The reverse stock split is intended to improve perception of the Company's common stock as an investment security, appeal to a broader range of investors, and maintain compliance with Nasdaq Listing Rule 5550(a)(2). The reverse stock split will reduce the number of issued and outstanding shares of Greenlane's common stock from approximately 5,039,563 to approximately 629,945. At Greenlane's special meeting of stockholders held on March 25, 2026, Greenlane's stockholders approved the reverse stock split in connection with Greenlane's common stock and gave Greenlane's board of directors discretionary authority to select a ratio for the reverse stock split ranging from 1-for-5 shares to 1-for-15 shares. Greenlane's board of directors approved the reverse stock split at a ratio of 1-for-8 on March 25, 2026. Reported Earnings • Apr 04
Full year 2025 earnings released Full year 2025 results: US$11.42 loss per share. Net loss: US$85.6m (loss widened 385% from FY 2024). Announcement • Mar 31
Greenlane Holdings, Inc. Receives Written Notice from the Staff of the Listing Qualifications Department of the Nasdaq Stock Market On March 25, 2026, Greenlane Holdings, Inc. (the Company) received written notice (the Notification Letter) from the staff of the Listing Qualifications Department (the Staff) of the Nasdaq Stock Market LLC (Nasdaq) that the Company no longer satisfies the $1.00 bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of thirty (30) consecutive business days (collectively, the Bid Price Rule). Based on the closing bid price of the Company's Class A common stock, par value $0.01 per share (the Common Stock), for the thirty (30) consecutive business days from February 10, 2026 to March 24, 2026, the Company no longer satisfies the Bid Price Rule. While companies are typically afforded a 180-calendar day compliance period to comply with the Bid Price Rule, the Notification Letter stated that, pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv), the Company was not eligible for any compliance period specified in Nasdaq Listing Rule 5810(c)(3)(A) due to the fact that the Company effected a reverse stock split over the prior one-year period or effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one. As noted by the Staff in the Notification Letter, the Company effected a 1-for-11 reverse stock split on August 5, 2024, and a 1-for-750 reverse stock split on June 27, 2025, resulting in a cumulative 1-for-8,250 reverse stock split ratio over the last two years. The Notification Letter stated that the Company's securities will be subject to delisting from Nasdaq unless the Company timely requests a hearing before the Nasdaq Hearings Panel (the Panel) by April 1, 2026. Accordingly, the Company intends to timely request a hearing before the Panel, and at which point, such timely request will automatically stay any further suspension or delisting action by Nasdaq pending the Panel's decision. During the appeal process with the Panel, the Common Stock will continue to be listed and trade on Nasdaq. There can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will be able to regain compliance and thereafter maintain its listing on Nasdaq. Announcement • Feb 18
Greenlane Holdings, Inc. Appoints Jason Hitchcock as Chief Executive Officer, Effective February 18, 2026 Greenlane Holdings, Inc. announced the appointment of Jason Hitchcock as Chief Executive Officer, effective immediately. Mr. Hitchcock is a technology executive with over 15 years of experience building and scaling revenue engines across SaaS, blockchain infrastructure, and decentralized finance. Mr. Hitchcock most recently served as Head of Business Development at thirdweb, a leading open-source Web3 developer tools and infrastructure platform. In that role, he built and led the company's enterprise go-to-market strategy, scaling a program across more than 150 blockchain networks and structuring channel partnerships to drive developer tool adoption among startups building in web3. Earlier in his career, Mr. Hitchcock held senior business development and partnership leadership roles at Twitch and Bebo, contributing to platform growth in high-scale digital environments. At Bebo, Mr. Hitchcock was on the founding team and served as Head of Business Development, leading go-to-market strategy across multiple product experiments and helping drive the company's acquisition by Twitch. Mr. Hitchcock has been an active participant in decentralized finance since 2020, with hands-on experience deploying capital across decentralized finance protocols for yield generation, liquidity provisioning, and token management. He co-founded Four Moons, a decentralized finance advisory and liquid token investment firm, where he raised two private funds and managed digital asset strategies focused on yield generation through decentralized finance protocols, delivering strong returns through disciplined portfolio construction and active risk oversight. Jason holds a Bachelor of Arts in Political Science from Carleton College. As Chief Executive Officer, Mr. Hitchcock will oversee corporate strategy, capital allocation, operational execution, and the continued development of Greenlane's digital asset treasury initiatives. His mandate includes deepening the Company's participation within the Berachain ecosystem across validator infrastructure, staking, and liquidity provisioning, while maintaining governance, disclosure, and risk management standards consistent with a Nasdaq-listed public company. Board Change • Feb 09
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Chairman Don Hunter is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 30
Greenlane Highlights Berachain Addition of Ethena Usde as Approved Collateral for Money Stablecoin Greenlane Holdings, Inc. highlighted Berachain's integration of Ethena's USDe as approved collateral for HONEY, Berachain's native stablecoin. The integration is intended to expand the range of dollar-based collateral available on Berachain and may support protocol-level liquidity, network activity, and on-chain economic mechanisms within the Berachain ecosystem. HONEY is Berachain's native stable coin, designed to aggregate multiple widely used stablecoins and other tokenized dollar assets--including USDT0, Circle's USDC, PayPal's pyUSD, and now USDe-- into a unified liquidity base for applications built on the network. This structure is intended to support on-chain activity by forming a deeper pool of dollar-denominated capital to be utilized by applications across the network, which may enhance capital efficiency and improve user experience. By incorporating USDe as approved collateral forHONEY, Berachain is expanding the set of approved collateral that may support stablecoin liquidity on the network. Berachain has publicly reported that approximately $19 million of USDe is currently being used as collateral within the HONEY framework. Ethena has also publicly reported that the outstanding supply of USDe across supported venues exceeds $6 billion.4 The amount of USDe currently deployed as collateral within the HONEY Framework represents a small portion of that broader supply, and any expansion of USDe utilization on Berachain would depend on market adoption, protocol governance decisions, and technical integration considerations. The integration of USDe represents one of several initiatives announced by Berachain that Berachain hopes will expand on-chain activity and protocol-level economic functionality, in addition to ongoing infrastructure enhancements, protocol improvements, and the continued onboarding of decentralized applications over time. Announcement • Jan 28
Greenlane Holdings, Inc. Announces Board Changes, Effective January 21, 2026 Greenlane Holdings, Inc. announced that on January 21, 2026, the Board of Directors unanimously appointed Jonathan Hue-Fay Ip to the Board to fill the vacancy created by the resignation of Barbar Sher, effective immediately. Jonathan Hue-Fay Ip is the founder of Iterative Law Profession Corporation, a business law firm focused on delivering practical business-first legal services to entrepreneurs, startups and growth-oriented companies, a role he has held since 2020. Mr. Ip also currently serves as a director of LS Retail (Canada) Inc., the Canadian subsidiary of LS Retail, a developer and provider of POS and business management software. Since 2021, Mr. Ip has also served as General Counsel for Bluefin, a high-performance, non-custodial trading protocol and has served as General Counsel for Divergence Neuro, a neurotech company focused on the research and development of tools to improve mental health since 2020. Mr. Ip has also previously served as Vice President, Legal and Corporate Development at an international merchant bank and practiced in the areas of corporate/commercial, securities, M&A and corporate finance at Bennett Jones LLP and Davies Ward Phillips & Vineberg LLP (the latter as a partner). Mr. Ip received an Honours Bachelor of Science from the University of Toronto, a Bachelor of Education degree from Queen's University and a Bachelor of Laws degree from Osgoode Hall Law School. The Company believes that Mr. Ip is qualified to serve as a director due to his extensive business, investment, legal and financial experience. Announcement • Jan 08
Greenlane Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $5.355687 million. Greenlane Holdings, Inc. has filed a Follow-on Equity Offering in the amount of $5.355687 million.
Security Name: Class A Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering Announcement • Nov 11
Greenlane Holdings, Inc., Annual General Meeting, Dec 01, 2025 Greenlane Holdings, Inc., Annual General Meeting, Dec 01, 2025. Announcement • Oct 21
Greenlane Holdings, Inc. announced that it expects to receive $50.253516 million in funding Greenlane Holdings, Inc. entered into subscription agreements with certain accredited investors for issuance of 3,068,012 Class A common shares at an offering price of $3.84 per share for gross proceeds of $11,781,166.08, and 10,045,000 pre-funded warrants to purchase 10,045,000 shares at a purchase price of $3.83 per pre-funded warrant for gross proceeds of $38,472,350, for aggregate gross proceeds of $50,253,516.08 on October 20, 2025. Each of the cash pre-funded warrants is exercisable for one share of common stock at the remaining exercise price of $0.01 per cash pre-funded warrant share and may be exercised at any time following the closing of the cash offering until all of the cash pre-funded warrants issued in the cash offering are exercised in full. The closing of the Offerings is expected to occur on or about October 23, 2025, subject to the satisfaction of customary closing conditions. The cash shares, the pre-funded warrants, and the pre-funded warrant shares are being offered in reliance upon the exemption from the registration requirement of the Securities Act of 1933, as amended (the “Securities Act” ), pursuant to Section 4(a)(2) thereof and/or Rule 506(b) of Regulation D promulgated thereunder, and applicable state securities laws. Announcement • Jul 03
Greenlane Holdings Inc Appoints Mike Hinson as Executive Vice President of Sales Greenlane Holdings Inc. announced the appointment of Mike Hinson as the Company's Executive Vice President of Sales. Hinson will be responsible for revenue optimization, sales strategies, business development, and emerging growth opportunities. Hinson brings more than two decades of experience leading high-performing sales teams and driving substantial revenue growth for top-tier companies. Prior to Greenlane, Hinson served as Senior Vice President of Sales at Besmartee, where he was responsible for developing and executing the company's sales strategy, managing a team of regional sales managers and account executives, and identifying new business opportunities to drive revenue growth. He has also held leadership roles at AudienceView, RealPage, Inc., and Paciolan. Hinson holds a Bachelor of Business Administration degree from James Madison University. Announcement • Jun 29
Greenlane Holdings, Inc. Announces Termination of Rob Shields from the Position of Chief Growth Officer, Effective June 20, 2025 On June 20, 2025, Greenlane Holdings, Inc. (the Company) terminated Rob Shields from the position of Chief Growth Officer. Announcement • May 10
Greenlane Holdings Receives a Notification Letter from the Listing Qualifications Department of the Nasdaq Stock Market On May 5, 2025, Greenlane Holdings, Inc. received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”), stating that based on its review of the Company’s public filings with the Securities and Exchange Commission (the “SEC”), its staff has determined to delist the Company’s securities pursuant to its discretionary authority under Listing Rule 5101. Specifically, as set in the letter, Nasdaq’s staff determined that the Company’s issuance of securities pursuant to the securities purchase agreement dated February 18, 2025, particularly the Series B warrants exercisable on an alternate cashless basis as described in the Company’s prior SEC filings, raises public interest concerns because the issuance resulted in substantial dilution for its shareholders. Accordingly, as set in the letter, this matter serves as an additional basis for delisting the Company’s securities from Nasdaq. The letter serves as a formal notification that the Nasdaq Hearings Panel (the “Panel”) will consider this matter in rendering a determination regarding the Company’s continued listing on Nasdaq. Pursuant to Listing Rule 5810(d), the Company should present its views with respect to this additional deficiency at its upcoming Panel hearing. The Company plans to submit a compliance plan to the Panel. The Company also plans to apply for trading on the OTCQB market maintained by OTC Markets Group Inc. to address the risk of delisting from Nasdaq in the event of an unfavorable Panel decision. Announcement • Apr 05
Greenlane Holdings Receives A Non-Compliance Notice from the Nasdaq Stock Market On April 2, 2025, Greenlane Holdings, Inc. received a notice from The Nasdaq Stock Market LLC stating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) (the “Rule”) because for the previous 30 consecutive business days, the closing bid price of the Company’s common stock was below the $1.00 per share minimum required for listing on The Nasdaq Capital Market. The Notice also noted that normally the Company would be afforded a 180-calendar day period to demonstrate compliance, however pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv), the Company is not eligible for any compliance period specified in Nasdaq Listing Rule 5810(c)(3)(A) due to the fact that the Company has effected a reverse stock split over the prior one-year period. Accordingly, the Company’s securities would be delisted from Nasdaq on April 9, 2025. Accordingly, unless the Company requests an appeal of this determination by April 9, 2025, Nasdaq has determined that the Company’s securities will be scheduled for delisting from Nasdaq and will be suspended at the opening of business on April 11, 2025, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company’s securities from listing and registration from Nasdaq (the “Delisting Determination”). The Company intends to appeal the Delisting Determination on or before April 9, 2025, by requesting an appeal with a Nasdaq Hearings Panel. A request for an appeal will stay the delisting of the Company’s common stock pending the Nasdaq Hearings Panel’s decision. There are no assurances a favorable decision from the listing panel will be obtained or that the Company’s common stock will remain listed on The Nasdaq Capital Market. Announcement • Feb 21
Greenlane Holdings, Inc. announced that it has received $25.000002 million in funding On February 19, 2025 Greenlane Holdings, Inc. closed the transaction and issued 21,008,405 Common Units or Pre-Funded Units at issue price of $1.19 for gross proceeds of $25,000,002. each consisting of one share of Common Stock or one Pre-Funded Warrant, one Series A PIPE Common Warrant to purchase one share of Common Stock per warrant at an exercise price of $1.4875 and one Series B PIPE Common Warrant to purchase one share of Common Stock per warrant at an exercise price of $2.975. Announcement • Feb 19
Greenlane Holdings, Inc. announced that it expects to receive $25 million in funding Greenlane Holdings, Inc. announced that it has entered into definitive agreements to issue 21,008,403 Common Units at a price of $1.19 per unit for gross proceeds of $25 million on February 18, 2025. The offering consisted of the sale of Common Units, each consisting of one share of Common Stock or one Pre-Funded Warrant, one Series A PIPE Common Warrant to purchase one share of Common Stock per warrant at an exercise price of $1.4875 and one Series B PIPE Common Warrant to purchase one share of Common Stock per warrant at an exercise price of $2.975. The transaction is expected to close on or about February 19, 2025. Announcement • Dec 24
Greenlane Holdings, Inc. Appoints Rob Shields as Chief Growth Officer, Effective January 1, 2025 Greenlane Holdings, Inc. announced it that Rob Shields has been appointed to the new role of Greenlane's Chief Growth Officer (CGO), effective January 1, 2025. Shields has served as a consultant for Greenlane since October 2024.Shields is a trusted global sales and marketing leader with over 30 years of experience in growing purpose-driven consumer and business technology brands. In his new role, Shields will lead strategic growth initiatives focusing on expanding Greenlane's market reach, driving business development, and enhancing customer relationships. He is known for his strategic leadership, unwavering focus on consumer-centric innovation and commitment to ongoing transformation efforts. He joins Greenlane from MOOMOO Financial Canada, a leading online trading platform with over 24 million users, where, as President and Country Head, he was responsible for all aspects of market entry and expansion across Canada including regulatory,legal, human resources, marketing, and financial operations. Prior to joining MOOMOO Financial, Shields was Chief Marketing, Customer Experience & Sales Officer, at Questrade, one of Canada's leading, non-bank online brokerages with over $30 billion in assets under administration. Reporting directly to the CEO, Shields was accountable for 227 marketing and sales professionals and responsible for generating full funnel KPIs from awareness to conversion and revenue growth. Prior to Questrade, he held various senior sales, marketing and product development positions at Paymi, Pinpoint Marketing Partners, Canadian Tire Corporation, Hudson's Bay Company and Aeroplan. Shields began his career with Deloitte Consulting. Announcement • Nov 21
Greenlane Holdings, Inc., Annual General Meeting, Dec 31, 2024 Greenlane Holdings, Inc., Annual General Meeting, Dec 31, 2024. Announcement • Aug 29
Greenlane Holdings, Inc. announced that it has received $6.5 million in funding On August 28, 2024, Greenlane Holdings, Inc. closed the transaction. The company will issue securities pursuant to exemption provided under Regulation D from three investors. Announcement • Jul 30
Greenlane Regains Compliance with Nasdaq Listing Rules Greenlane Holdings, Inc. announced that it has regain compliance with Nasdaq listing rule. Chief Executive Officer, Barbara Sher said, "Among important milestones, the company regained compliance with Nasdaq listing requirements after filing delayed financial reports, and is actively working on restructuring its existing debt obligations with a group of its key creditors". Announcement • May 18
Greenlane Holdings, Inc. announced delayed 10-Q filing On 05/16/2024, Greenlane Holdings, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 02
Greenlane Holdings, Inc. announced delayed annual 10-K filing On 04/01/2024, Greenlane Holdings, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Feb 27
Greenlane Holdings Receives Non-Compliance Notice from Nasdaq As previously disclosed, on August 21, 2023, Greenlane Holdings, Inc. (the “Company”) received a letter from the staff of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) because the closing bid price per share for the Company’s Class A common stock had closed below $1.00 for the previous 30 consecutive business days (the “Minimum Bid Price Requirement”). The Company was given 180 days, or until February 20, 2024 to regain compliance with the Minimum Bid Price Requirement. Also as previously disclosed, the Company filed an application to transfer the listing of its Class A common stock from the Nasdaq Global Market to the Nasdaq Capital Market, which transfer was approved and occurred on February 9, 2024. As a result of the transfer, the Company became eligible to request an additional an additional 180-day compliance period. On February 21, 2024, Nasdaq notified the Company in writing (the “Extension Letter”) that while the Company had not regained compliance with the Minimum Bid Price Requirement, it was eligible for an additional 180-day compliance period, or until August 19, 2024, to regain compliance with the Minimum Bid Price Requirement. Nasdaq’s determination was based on the Company having met the continued listing requirement for market value of publicly held shares and all other applicable requirements for initial listing on The Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and on the Company’s written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. If the Company does not regain compliance during the second 180-day period, then Nasdaq will notify the Company of its determination to delist the Company’s common stock, at which point the Company would have an opportunity to appeal the delisting determination to a hearings panel. The Company would remain listed on Nasdaq pending the hearings panel’s decision. There can be no assurance that, if the Company does appeal the delisting determination by Nasdaq to the hearings panel, that such appeal would be successful. The Company intends to continue to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Requirement. Announcement • Feb 09
Nasdaq to Transfer Listing of Greenlane Holdings Class A Shares from Nasdaq Global Market to the Nasdaq Capital Market On February 7, 2024, Greenlane Holdings, Inc. (the Company") received approval from The Nasdaq Stock Market LLC (Nasdaq") to transfer the listing of the Company's Class A common stock, par value $0.01 per share (the Class Acommon stock") from the Nasdaq Global Market to the Nasdaq Capital Market (the Approval"). The Company's Class A common stock will be transferred to the Nasdaq Capital Market effective as of the open of business on February9, 2024, and will continue to trade under the symbol GNLN." The Nasdaq Capital Market operates in substantially the same manner as the Nasdaq Global Market, and listed companies must meet certain financial requirements and comply with Nasdaq's corporate governance requirements. As previously disclosed, on August 3, 2023, the Company received a letter from Nasdaq notifying the Company that it was no longer in compliance with Nasdaq Listing Rule 5450(b)(1)(C) because the market value of the Company's publicly held shares of Class A common stock had fallen below the $5.0 million minimum required for continued listing on the Nasdaq Global Market for a period of at least 30 consecutive business days (the Market Value Requirement"). As also previously disclosed, on August 21, 2023, the Company received a letter from Nasdaq indicating that the Company was not in compliance with Nasdaq Listing Rule 5450(a)(1) because the closing bid price per share for the Company's Class A common stock had closed below $1.00 for the previous 30 consecutive business days (the Minimum Bid Price Requirement"). In response, the Company filed an application to transfer the listing of its Class A common stock from the Nasdaq Global Market to the Nasdaq Capital Market. As a result of the Approval, the Market Value Requirement is no longer applicable to the Company, and the Company will be eligible to request an additional 180-day compliance period, or until August 18, 2024, to regain compliance with the Minimum Bid Price Requirement. To regain compliance with the Minimum Bid Price Requirement and qualify for continued listing on the Nasdaq Capital Market, the minimum bid price per share of the Company's Class A common stock must be at least $1.00 for at least ten consecutive business days during the additional 180-day compliance period. If the Company fails to regain compliance during any additional compliance period, then Nasdaq will notify the Company of its determination to delist the Company's Class A common stock, at which point the Company would have an opportunity to appeal the delisting determination to a Nasdaq Hearings Panel. The Company intends to continue to actively monitor the Minimum Bid Price Requirement and, as appropriate, will consider available options to resolve any deficiencies and regain compliance. Announcement • Nov 21
Greenlane Holdings, Inc. Appoints Barbara Sher as Chief Operating Officer On November 14, 2023, the board of directors of Greenlane Holdings, Inc. appointed Barbara Sher as the Company’s Chief Operating Officer, effective November 14, 2023. Ms. Sher brings over 20 years of experience in senior executive roles at both large and small and public and private companies. Ms. Sher has served as SVP of Customer Experience at the Company since June 2022, and previously served as Senior Vice President of Retail Sales at Newfold Digital, Inc., and previous to that as Vice President of Business Development at Newfold Digital, Inc., and as Vice President of Business Development at Web.com. Ms. Sher received her MBA from Seton Hall University and her B.A. in communications from The College of New Jersey. Announcement • Nov 17
Greenlane Holdings, Inc. announced delayed amended 10-Q filing On 11/15/2023, Greenlane Holdings, Inc. announced that they will be unable to file their amended 10-Q by the deadline required by the SEC. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings have declined by 63% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$9.9m free cash flow). Earnings have declined by 63% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Market cap is less than US$10m (US$1.34m market cap). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Board Change • Oct 22
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (3 non-independent directors). Co-Founder & Director Aaron LoCascio is the most experienced director on the board, commencing their role in 2018. Independent Director Renah Persofsky was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Oct 19
Greenlane Holdings, Inc. Announces Changes to Its Board of Directors Greenlane Holdings, Inc. announced changes to its board of directors with the exit of Jeff Uttz and the appointment of Gina Collins. Her extensive experience and expertise inaligning corporate goals with innovative strategies will undoubtedly bring a fresh perspective to the board, helping Greenlane advance its mission and achieve its strategic goals. Collin's has a proven and award-winning brand leadership background with a long pedigree of success conceptualizing and executing marketing and communication strategies for preeminent organizations across a broad range of consumer categories - including Coca-Cola, Build-A-Bear Workshop, Outback Steakhouse and Magical Brands. Her dedication to revenue growth, customer loyalty, operational efficiency, and global brand awareness aligns perfectly with Greenlane's vision for the future. The board of directors and the entire Greenlane community express their heartfelt gratitude to Jeff Uttz for his exceptional service and unwavering commitment during his tenure. Uttz has been an invaluable asset, contributing significantly to the growth and success of Greenlane. Announcement • Aug 25
Greenlane Holdings Receives Non-Compliance Notice From Nasdaq On August 21, 2023, Greenlane Holdings, Inc. (the “Company”) received a deficiency letter from the Nasdaq Listing Qualifications Department (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s Class A common stock, par value $0.01 per share (the “Class A Common Stock”) had been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (“Rule 5450(a)(1)”). The Nasdaq deficiency letter has no immediate effect on the listing of the Company’s Class A Common Stock, and the Class A Common Stock will continue to trade on The Nasdaq Global Market under the symbol “GNLN” at this time. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been given 180 calendar days, or until February 20, 2024, to regain compliance with Rule 5450(a)(1). If the Company chooses to implement a reverse stock split, it must complete the split no later than ten business days prior to February 20, 2024, to regain compliance. If at any time before February 20, 2024, the bid price of the Class A Common Stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, the Staff will provide written confirmation that the Company has regained compliance. If the Company does not regain compliance with Rule 5450(a)(1) by February 20, 2024, the Company may be afforded a second 180 calendar day period to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the deficiency during the second compliance period. The Company intends to actively monitor the closing bid price for the Class A Common Stock and will consider available options to resolve the deficiency and regain compliance with Rule 5450(a)(1). Reported Earnings • Aug 15
Second quarter 2023 earnings: Revenues miss analyst expectations Second quarter 2023 results: Revenue: US$19.6m (down 51% from 2Q 2022). Net loss: US$10.5m (loss narrowed 13% from 2Q 2022). Revenue missed analyst estimates by 13%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.5% growth forecast for the Retail Distributors industry in the US. Announcement • Aug 06
Greenlane Holdings Receives Non-Compliance Notice from Nasdaq Regarding Non-Compliance with Minimum Requirement for Market Value of Publicly Held Shares On August 3, 2023, Greenlane Holdings, Inc. received a letter from the Nasdaq Listing Qualifications Department of the Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that it no longer is in compliance with Nasdaq Listing Rule 5450(b)(1)(C) because the market value of the Company’s publicly held shares of Class A common stock, par value $0.01 per share (the ‘Class A common stock’), has fallen below the $5.0 million minimum required for continued listing on the Nasdaq Global Market for a period of at least 30 consecutive business days. Nasdaq calculates publicly held shares by subtracting from the total shares of Class A common stock outstanding any shares held by officers, directors or any person who beneficially owns more than 10% of the total shares of Class A common stock outstanding. In accordance with Nasdaq Listing Rule 5810(c)(3)(D), the Company has a grace period of 180 calendar days, until January 30, 2024, to regain compliance with Nasdaq Listing Rule 5450(b)(1)(C). Compliance can be achieved by meeting the $5.0 million minimum requirement for market value of publicly held shares for a minimum of 10 consecutive business days during the 180-day compliance period. If the Company does not regain compliance with Nasdaq Listing Rule 5450(b)(1)(C) by the end of the 180-day grace period, Nasdaq will notify the Company that the Class A common stock is subject to delisting. In the event that the Company receives a notice of delisting, Nasdaq rules permit the Company to appeal the delisting determination to a Nasdaq Hearings Panel. Alternatively, the Company may apply to transfer the listing of the Class A common stock to The Nasdaq Capital Market (the ‘Capital Market’) if it satisfies the continued listing criteria for the Capital Market. The Company currently is considering all available options to resolve the deficiency and regain compliance with Nasdaq’s minimum requirements for the market value of publicly held shares of Class A common stock. Announcement • Jul 04
Greenlane Holdings, Inc. has completed a Composite Units Offering in the amount of $4.25 million. Greenlane Holdings, Inc. has completed a Composite Units Offering in the amount of $4.25 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 4,047,619
Price\Range: $1.05
Discount Per Security: $0.0735 Announcement • Jun 29
Greenlane Holdings, Inc. Announces Expansion into Disposable Nicotine Offerings Greenlane Holdings, Inc. announced its expansion of products to include disposable nicotine offerings. This initiative aligns with the company's strategic vision as a leader in the market to offer a diverse portfolio of products that are profitable and in high demand by a broad range of customers. With a total addressable U.S. market exceeding $6 billion annually and expected to grow at a compound annual rate exceeding 11%, disposable nicotine products have a significant impact on Greenlane customer revenues. With historic knowledge and expertise in this category, Greenlane strategically surveyed market and consumer buying habits to identify key industry leading partners, manufacturers, and brands to best capitalize on the expansion into this market segment. These brands, including Fume, Death Row Vapes, Packspod, and Tyson 2.0 enable Greenlane to offer a broader portfolio of diverse and high-quality products that align with consumer buying trends. Announcement • Jun 24
Greenlane Regains Compliance with Nasdaq Listing Requirements Greenlane Holdings, Inc. announced that it received notice from The Nasdaq Stock Market LLC ("Nasdaq") on June 22, 2023 informing Greenlane that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Market. Consequently, Greenlane is now in compliance with all applicable listing standards and its Class A common stock will continue to be listed on The Nasdaq Global Market. Greenlane was previously notified by Nasdaq on December 13, 2022 that it was not in compliance with the minimum bid price rule because its Class A common stock failed to meet the closing bid price of $1.00 or more for 30 consecutive business days. To regain compliance with the minimum bid price rule, the Company was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days. This requirement was met on June 21, 2023, the tenth consecutive trading day that the closing bid price of the Company's Class A common stock was over $1.00. Announcement • Jun 15
Greenlane Holdings, Inc. Announces Launch of DaVinci ARTIQ Cooling Vaporizer Greenlane Holdings, Inc. announced the launch of the DaVinci ARTIQ, the newest in a line of premium portable vaporizers. The ARTIQ offers DaVinci's clean technology in the convenience of a 510 oil-compatible vaporizer. Delivering a cool, smooth vapor, the ARTIQ utilizes the iconic DaVinci IQ shape that hides the cartridge and features an extended airpath to cool hot vapor back down. Featuring a compact design, the ARTIQ has a large capacity battery, USB Type-C charging, and is available in gray, blue, and black. DaVinci is an industry leading brand differentiated through its groundbreaking Clean First™ innovation, which employs medical grade materials and total quality manufacturing processes to ensure the cleanest technology goes into the development of its products. DaVinci's product line has grown significantly since the launch of its award-winning IQ vaporizer in 2016 to include new innovative products. Reported Earnings • May 16
First quarter 2023 earnings: EPS exceeds analyst expectations First quarter 2023 results: US$0.64 loss per share (improved from US$3.40 loss in 1Q 2022). Revenue: US$24.0m (down 49% from 1Q 2022). Net loss: US$10.2m (loss narrowed 34% from 1Q 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 46%. Revenue is expected to decline by 2.1% p.a. on average during the next 2 years, while revenues in the Retail Distributors industry in the US are expected to grow by 4.2%. Reported Earnings • Nov 18
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$11.43 loss per share (further deteriorated from US$8.20 loss in 3Q 2021). Revenue: US$28.7m (down 31% from 3Q 2021). Net loss: US$75.1m (loss widened 361% from 3Q 2021). Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Retail Distributors industry in the US. Major Estimate Revision • Nov 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$159.6m to US$142.2m. EPS estimate increased from -US$7.92 to -US$7.69 per share. Retail Distributors industry in the US expected to see average net income decline 7.5% next year. Consensus price target down from US$11.73 to US$4.63. Share price fell 4.0% to US$0.49 over the past week. Price Target Changed • Nov 16
Price target decreased to US$4.66 Down from US$12.38, the current price target is an average from 5 analysts. New target price is 815% above last closing price of US$0.51. Stock is down 99% over the past year. The company is forecast to post a net loss per share of US$7.92 next year compared to a net loss per share of US$15.85 last year. Major Estimate Revision • Aug 22
Consensus revenue estimates fall by 20% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from US$208.1m to US$166.9m. Forecast losses increased from -US$4.80 to -US$8.16 per share. Retail Distributors industry in the US expected to see average net income growth of 8.0% next year. Consensus price target down from US$45.00 to US$26.50. Share price fell 18% to US$2.86 over the past week. Price Target Changed • Aug 16
Price target increased to US$50.00 Up from US$46.33, the current price target is an average from 6 analysts. New target price is 1,353% above last closing price of US$3.44. Stock is down 92% over the past year. The company is forecast to post a net loss per share of US$4.80 next year compared to a net loss per share of US$15.85 last year. Major Estimate Revision • May 23
Consensus EPS estimates fall by 71% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$219.1m to US$208.7m. Losses expected to increase from US$0.14 per share to US$0.24. Retail Distributors industry in the US expected to see average net income growth of 21% next year. Consensus price target down from US$2.32 to US$2.25. Share price fell 12% to US$0.33 over the past week. Reported Earnings • May 17
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: US$0.17 loss per share. Revenue: US$46.5m (up 37% from 1Q 2021). Net loss: US$15.3m (loss widened 260% from 1Q 2021). Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 143%. Over the next year, revenue is forecast to grow 28%, compared to a 8.4% growth forecast for the industry in the US. Price Target Changed • May 03
Price target decreased to US$2.32 Down from US$2.55, the current price target is an average from 6 analysts. New target price is 522% above last closing price of US$0.37. Stock is down 91% over the past year. The company is forecast to post a net loss per share of US$0.14 next year compared to a net loss per share of US$0.79 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman Don Hunter was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 19
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Chairman Don Hunter was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Apr 07
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$270.0m to US$219.7m. EPS estimate increased from -US$0.26 to -US$0.16 per share. Retail Distributors industry in the US expected to see average net income growth of 21% next year. Consensus price target down from US$3.88 to US$2.55. Share price fell 16% to US$0.48 over the past week. Reported Earnings • Apr 01
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: US$0.79 loss per share. Revenue: US$166.1m (up 20% from FY 2020). Net loss: US$30.6m (loss widened 111% from FY 2020). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Over the next year, revenue is forecast to grow 35%, compared to a 11% growth forecast for the retail industry in the US. Major Estimate Revision • Mar 13
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 expected loss increased from -US$1.42 to -US$1.90 per share. Revenue forecast unchanged at US$166.3m. Retail Distributors industry in the US expected to see average net income growth of 20% next year. Consensus price target down from US$4.55 to US$3.88. Share price was steady at US$0.50 over the past week. Price Target Changed • Feb 22
Price target decreased to US$4.55 Down from US$5.22, the current price target is an average from 6 analysts. New target price is 673% above last closing price of US$0.59. Stock is down 91% over the past year. The company is forecast to post a net loss per share of US$1.43 next year compared to a net loss per share of US$1.22 last year. Breakeven Date Change • Jan 02
Forecast to breakeven in 2024 The 6 analysts covering Greenlane Holdings expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$19.9m in 2024. Average annual earnings growth of 71% is required to achieve expected profit on schedule. Breakeven Date Change • Nov 25
No longer forecast to breakeven The 6 analysts covering Greenlane Holdings no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$4.90m in 2023. New consensus forecast suggests the company will make a loss of US$9.46m in 2023. Reported Earnings • Nov 20
Third quarter 2021 earnings released: US$0.41 loss per share (vs US$0.35 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$41.3m (up 16% from 3Q 2020). Net loss: US$16.3m (loss widened 262% from 3Q 2020). Board Change • Nov 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Chairman Don Hunter was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Oct 04
Price target increased to US$5.66 Up from US$5.17, the current price target is an average from 5 analysts. New target price is 134% above last closing price of US$2.42. Stock is up 3.0% over the past year. Board Change • Sep 15
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Don Hunter was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 10
Independent Director recently bought US$101k worth of stock On the 7th of September, Jeff Uttz bought around 36k shares on-market at roughly US$2.81 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$48k more in shares than they have sold in the last 12 months. Board Change • Sep 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Don Hunter was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.