Greenlane Reports Second Quarter 2025 Financial Results

About this update from Greenlane Holdings, Inc.

BOCA RATON, FL / ACCESS Newswire / August 14, 2025 / Greenlane Holdings, Inc. ("Greenlane" or the "Company") (Nasdaq:GNLN), one of the premier global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today reported its financial results for the second quarter and six months ended June 30, 2025. Revenue Reporting and Key Organizational Initiatives Beginning with our second quarter 2023 financial report, we implemented a major restructuring of our industrial product lines, transitioning much of this business from gross sales to a commission structure. While this change affects how we report revenue, we believe it enables us to preserve working capital and improve gross margins. During the second quarter, the Company initiated and has since completed a restructuring of its sales organization to better align people and responsibilities with the Company's omnichannel sales strategy, including the addition of new and highly experienced leadership across the board to ensure a return to growth and increased customer success at Greenlane. While necessary, the recent reorganization of the sales team, including new leadership and the recruitment of a stronger sales team, negatively impacted sales and new customer acquisition in the second quarter. The new structure is designed to accelerate sales, improve customer experience, and increase efficiency throughout the sales process. Subsequent to the end of the second quarter, the new sales and marketing infrastructure has delivered new customer growth, reactivation of customer accounts, and the addition of new multi-state operator accounts. Second Quarter 2025 Results Compared to Prior Year Period New Sales and Marketing Team Supported by Leading Cannabis Digital Marketing Agency Enhancing Revenue and Customer Opportunities "The restructuring of our sales leadership and sales team during the quarter significantly impacted our revenue. While disappointing for the near term, these actions were necessary to restore more sustainable growth over the long term. With new leadership in place, a growing portfolio of products, and a large market opportunity, I have increasing confidence that the Company is positioned to accelerate growth going forward," said Barbara Sher, Chief Executive Officer for Greenlane Sher added, "We made strides with footprint optimization, and we will continue to take costs out of the business and right-size operations, while we enhance our product offering and improve pricing architecture. We are seeing solid early indicators that our new sales leadership is setting the foundation for improved top-line performance, and we are thrilled to have added several new products in both the cannabis and wellness categories to drive new and existing customer opportunities." Sher concluded, "While we continue to navigate a dynamic market environment, we remain committed to the initiatives implemented in recent quarters that are fueling our transformation and driving our goal to improve profitability. As we focus on improving our business and accounts receivable strategy and efficiency efforts and given our early but encouraging new customer sales activity, we currently anticipate a stronger second half of 2025 for Greenlane." Strategic Growth and Operational Initiatives Balance Sheet As of June 30, 2025, the Company had cash and cash equivalents of approximately $5.7 million. GREENLANE HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts) GREENLANE HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (in thousands, except share and per share amounts) GREENLANE HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (in thousands) About Greenlane Holdings, Inc. Founded in 2005, Greenlane is a premier global platform for the development and distribution of premium smoking accessories, vape devices, and lifestyle products to thousands of producers, processors, specialty retailers, smoke shops, convenience stores, and retail consumers. We operate as a powerful family of brands, third-party brand accelerator, and an omnichannel distribution platform. We proudly offer our own diverse brand portfolio and our exclusively licensed Marley Natural and K.Haring branded products. We also offer a carefully curated set of third-party products through our direct sales channels and our proprietary, owned and operated e-commerce platforms which include Vapor.com , , PuffItUp.com , HigherStandards.com , Wholesale.Greenlane.com and MarleyNaturalShop.com . For additional information, please visit: https://investor.gnln.com . For additional information, please visit: https://gnln.com/ . Investor Contact: [email protected] or PCG Advisory Kevin McGrath +1-646-418-7002 [email protected] Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Greenlane and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. Greenlane has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission ("SEC"), including under the caption "Risk Factors" in Greenlane's Annual Report on Form 10-K filed for the year ended December 31, 2024 and the Company's other filings with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC. SOURCE: Greenlane Holdings, Inc. View the original press release on ACCESS Newswire

View stock analysis, news, and events for Greenlane Holdings, Inc.