Business
Greenlane Renewables Announces First Quarter 2026 Financial Results
Greenlane Renewables Inc. ("Greenlane'' or the "Company") (TSX: GRN) (FSE: 52G) (OTC: GRNWF) today announced its financial results for the first quarter ended March 31, 2026. For further information on these results please see the Company's Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis filed under the Company's profile on SEDAR+ at www.sedarplus.ca. All amounts reported are in Canadian dollars and in accordance with International Financial Reporting
About this update from Greenlane Renewables Inc.
[{"type":"text","content":"~Company on track with its strategic plan with strong YoY growth in our most profitable business areas and progression toward start of production of our next generation Cascade LF landfill gas upgrading technology in Brazil~ ","length":224,"tagName":"p","attribs":{}},{"type":"text","content":"VANCOUVER, BC, May 14, 2026 /CNW/ - Greenlane Renewables Inc. ("Greenlane'' or the "Company") (TSX: GRN) (FSE: 52G) (OTC: GRNWF) today announced its financial results for the first quarter ended March 31, 2026. For further information on these results please see the Company's Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis filed under the Company's profile on SEDAR+ at www.sedarplus.ca. All amounts reported are in Canadian dollars and in accordance with International Financial Reporting Standards ("IFRS") unless otherwise stated.","length":625,"tagName":"p"},{"type":"text","content":"First Quarter Highlights Include:","length":33,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenue of $9.5 million;","length":24,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross profit of $3.8 million, Gross Margin1 before amortization of $4.1 million (43% of revenue);","length":97,"tagName":"p"}]},{"val":[{"type":"text","content":"Adjusted EBITDA2 loss of $0.8 million;","length":38,"tagName":"p"}]},{"val":[{"type":"text","content":"Net loss and comprehensive loss of $2.1 million;","length":48,"tagName":"p"}]},{"val":[{"type":"text","content":"Sales Order Backlog3 of $31.5 million as at March 31, 2026;","length":59,"tagName":"p"}]},{"val":[{"type":"text","content":"Cash and cash equivalents of $13.5 million and no debt, other than payables and off balance sheet arrangements, as at March 31, 2026; and","length":137,"tagName":"p"}]},{"val":[{"type":"text","content":"Subsequent to quarter end, the Company announced the signing of definitive agreements with Panasonic do Brasil Limitada ("Panasonic") to localize production of Greenlane's proprietary next-generation Cascade LF landfill gas upgrading technology in Brazil. Panasonic's initial investments are expected to be in the range of $2 million to $3 million (8 million to 10 million Brazilian Reais).","length":408,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"leng...