Greenlane Holdings Financials
Greenlane Holdings (GNLN) reported $4.4M in revenue for fiscal year 2025, down 67.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Fresh financing rebuilt cash and cleaned up the balance sheet, but the core business still burns cash on a shrinking sales base.
From FY2024 to FY2025, cash rose to$32.5M and total liabilities fell to$7.2M . But FY2025 also required$56.1M of financing inflow while operations used-$16.3M , so the stronger liquidity was created by outside capital rather than by the underlying business.
Revenue fell from
The FY2025 net loss of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Greenlane Holdings's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Greenlane Holdings, and counted as zero in the overall score.
Not available for Greenlane Holdings, and counted as zero in the overall score.
Greenlane Holdings scores -8.45, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.9M) relative to total liabilities ($7.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Greenlane Holdings passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
Greenlane Holdings reported a net loss of $85.6M while operations used $16.3M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Greenlane Holdings reported an operating loss of $54.2M against $394K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Greenlane Holdings generated $4.4M in revenue in fiscal year 2025. This represents a decrease of 67.2% from the prior year.
Greenlane Holdings's EBITDA was -$53.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 388.0% from the prior year.
Greenlane Holdings reported -$85.6M in net income in fiscal year 2025. This represents a decrease of 385.1% from the prior year.
Greenlane Holdings earned -$11.42 per diluted share (EPS) in fiscal year 2025.
Cash & Balance Sheet
Greenlane Holdings recorded an outflow of $16.4M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 133.9% from the prior year.
Greenlane Holdings held $32.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Greenlane Holdings's ROE was -126.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 148.2 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Greenlane Holdings invested $98K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 59.8% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
GNLN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.6M | $4.4M-67.2% | $13.3M-79.7% | $65.4M-52.3% | $137.1M-17.4% | $166.1M+20.1% | $138.3M-25.2% | $185.0M+3.4% | $178.9M |
| Cost of Revenue | $15.6M | $16.8M+140.5% | $7.0M-85.3% | $47.5M-57.6% | $112.1M-15.2% | $132.2M+14.4% | $115.5M-24.9% | $153.9M+7.5% | $143.2M |
| Gross Profit | -$12.9M | -$12.5M-298.4% | $6.3M-64.8% | $17.8M-28.6% | $25.0M-26.2% | $33.9M+48.7% | $22.8M-26.8% | $31.1M-13.0% | $35.7M |
| SG&A Expenses | $12.4M | $10.6M+9.0% | $9.8M-59.7% | $24.2M-40.9% | $41.0M-14.4% | $47.9M+35.6% | $35.3M+49.7% | $23.6M+34.4% | $17.5M |
| Operating Income | -$56.4M | -$54.2M-359.1% | -$11.8M+54.7% | -$26.1M+85.8% | -$184.1M-249.2% | -$52.7M-7.7% | -$49.0M-96.5% | -$24.9M-904.6% | -$2.5M |
| Interest Expense | N/A | $394K-93.4% | $5.9M+9.0% | $5.5M+122.4% | $2.5M+326.8% | $574K+31.4% | $437K-55.2% | $975K-69.5% | $3.2M |
| Income Tax | N/A | $7K | N/A | N/A | -$13K-230.0% | $10K-94.8% | $194K-98.2% | $10.9M+3327.9% | $319K |
| Net Income | -$121.7M | -$85.6M-385.1% | -$17.6M+45.2% | -$32.2M+81.0% | -$169.5M-454.3% | -$30.6M-110.7% | -$14.5M+49.6% | -$28.8M-389.4% | -$5.9M |
| EPS (Diluted) | — | -$11.42 | -$14.56 | -$8.16 | -$22.51 | -$15.85 | -$1.22 | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GNLN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $74.9M+161.7% | $28.6M-24.8% | $38.1M-57.5% | $89.7M-68.6% | $285.8M+133.0% | $122.7M-19.9% | $153.2M+96.4% | $78.0M |
| Current Assets | $36.1M+51.8% | $23.8M-20.1% | $29.8M-61.2% | $76.7M-38.5% | $124.7M+29.8% | $96.1M-16.4% | $115.0M+101.3% | $57.1M |
| Cash & Equivalents | $32.5M+3516.6% | $899K+94.2% | $463K-92.8% | $6.5M-49.8% | $12.9M-57.8% | $30.4M-36.3% | $47.8M+550.8% | $7.3M |
| Inventory | N/A | $14.2M-30.8% | $20.5M-49.5% | $40.6M-39.3% | $67.0M+85.7% | $36.1M-16.2% | $43.1M+46.0% | $29.5M |
| Accounts Receivable | $1.6M-63.1% | $4.3M+151.7% | $1.7M-73.8% | $6.5M-56.0% | $14.7M+132.1% | $6.3M-21.8% | $8.1M-1.5% | $8.2M |
| Goodwill | N/A | N/A | N/A | $0-100.0% | $41.9M+1176.2% | $3.3M-72.6% | $12.0M+120.0% | $5.4M |
| Total Liabilities | $7.2M-67.8% | $22.3M-17.5% | $27.1M-46.5% | $50.7M-43.3% | $89.5M-16.8% | $107.6M-17.7% | $130.8M+65.5% | $79.0M |
| Current Liabilities | $7.2M-67.6% | $22.3M-14.7% | $26.1M-26.8% | $35.7M-49.8% | $71.0M+69.6% | $41.9M+59.4% | $26.3M-13.7% | $30.4M |
| Long-Term Debt | N/A | $7.7M+5.4% | $7.3M-44.1% | $13.0M+22.9% | $10.6M+35.2% | $7.8M-2.2% | $8.0M-83.4% | $48.4M |
| Total Equity | $67.9M+955.4% | $6.4M-42.2% | $11.1M-71.5% | $39.0M-77.7% | $174.5M+1058.5% | $15.1M-32.8% | $22.4M+302.7% | -$11.1M |
| Retained Earnings | -$360.5M-31.1% | -$274.9M-6.9% | -$257.3M-14.3% | -$225.1M-305.3% | -$55.5M-123.5% | -$24.8M-155.5% | -$9.7M | $0 |
GNLN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.5M | -$16.3M-140.9% | -$6.8M-276.5% | -$1.8M+93.2% | -$26.4M+29.2% | -$37.3M-203.4% | -$12.3M+66.7% | -$36.9M-171.8% | -$13.6M |
| Capital Expenditures | N/A | $98K-59.8% | $244K-75.8% | $1.0M-63.8% | $2.8M-36.7% | $4.4M+146.1% | $1.8M-11.5% | $2.0M-81.5% | $10.9M |
| Free Cash Flow | N/A | -$16.4M-133.9% | -$7.0M-149.8% | -$2.8M+90.4% | -$29.2M+30.0% | -$41.7M-196.2% | -$14.1M+63.8% | -$38.9M-59.0% | -$24.5M |
| Investing Cash Flow | -$27.5M | -$8.3M-3285.2% | -$244K-913.3% | $30K-99.8% | $12.0M+161.1% | -$19.7M-375.2% | -$4.1M-11.0% | -$3.7M+63.5% | -$10.2M |
| Financing Cash Flow | N/A | $56.1M+655.8% | $7.4M+173.2% | -$10.1M-172.8% | $13.9M-64.2% | $39.0M+3765.4% | -$1.1M-101.3% | $81.0M+178.0% | $29.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | $200K-66.9% | $604K | N/A | $2.2M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $515K | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GNLN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -286.2% | 47.3%+20.1pp | 27.3%+9.0pp | 18.2%-2.2pp | 20.4%+3.9pp | 16.5%-0.3pp | 16.8%-3.2pp | 20.0% |
| Operating Margin | -1245.6% | -89.0%-49.1pp | -39.9% | -134.3% | -31.8%+3.7pp | -35.4%-21.9pp | -13.5%-12.1pp | -1.4% |
| Net Margin | -1965.1% | -132.9% | -49.2% | -123.6% | -18.4%-7.9pp | -10.5%+5.1pp | -15.6%-12.3pp | -3.3% |
| Return on Equity | -126.1%+148.2pp | -274.3%+14.9pp | -289.2%+145.7pp | -434.9%-417.4pp | -17.5%+78.8pp | -96.4%+32.2pp | -128.6% | N/A |
| Return on Assets | -114.2%-52.6pp | -61.6%+22.9pp | -84.5%+104.5pp | -189.0%-178.3pp | -10.7%+1.1pp | -11.8%+7.0pp | -18.8%-11.3pp | -7.5% |
| Current Ratio | 5.01+3.9x | 1.07-0.1x | 1.14-1.0x | 2.15+0.4x | 1.76-0.5x | 2.30-2.1x | 4.38+2.5x | 1.88 |
| Debt-to-Equity | 0.11-1.1x | 1.19+0.5x | 0.65+0.3x | 0.33+0.3x | 0.06-0.5x | 0.52+0.2x | 0.36 | N/A |
| FCF Margin | -375.6% | -52.7%-48.4pp | -4.3%+17.0pp | -21.3%+3.8pp | -25.1%-14.9pp | -10.2%+10.8pp | -21.0%-7.4pp | -13.7% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Greenlane Holdings Ranks
Frequently Asked Questions
What is Greenlane Holdings's annual revenue?
Greenlane Holdings (GNLN) reported $4.4M in total revenue for fiscal year 2025. This represents a -67.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Greenlane Holdings's revenue growing?
Greenlane Holdings (GNLN) revenue declined by 67.2% year-over-year, from $13.3M to $4.4M in fiscal year 2025.
Is Greenlane Holdings profitable?
No, Greenlane Holdings (GNLN) reported a net income of -$85.6M in fiscal year 2025.
What is Greenlane Holdings's EBITDA?
Greenlane Holdings (GNLN) had EBITDA of -$53.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Greenlane Holdings's return on equity (ROE)?
Greenlane Holdings (GNLN) has a return on equity of -126.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Greenlane Holdings's free cash flow?
Greenlane Holdings (GNLN) recorded an outflow of $16.4M in free cash flow during fiscal year 2025. This represents a -133.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Greenlane Holdings's operating cash flow?
Greenlane Holdings (GNLN) recorded an outflow of $16.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Greenlane Holdings's total assets?
Greenlane Holdings (GNLN) had $74.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Greenlane Holdings's capital expenditures?
Greenlane Holdings (GNLN) invested $98K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Greenlane Holdings's current ratio?
Greenlane Holdings (GNLN) had a current ratio of 5.01 as of fiscal year 2025, which is generally considered healthy.
What is Greenlane Holdings's debt-to-equity ratio?
Greenlane Holdings (GNLN) had a debt-to-equity ratio of 0.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Greenlane Holdings's return on assets (ROA)?
Greenlane Holdings (GNLN) had a return on assets of -114.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Greenlane Holdings's Altman Z-Score?
Greenlane Holdings (GNLN) has an Altman Z-Score of -8.45, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Greenlane Holdings's Piotroski F-Score?
Greenlane Holdings (GNLN) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Greenlane Holdings's earnings high quality?
Greenlane Holdings (GNLN) reported a net loss of $85.6M while operations used $16.3M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Greenlane Holdings cover its interest payments?
Greenlane Holdings (GNLN) reported an operating loss of $54.2M against $394K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Greenlane Holdings?
Greenlane Holdings (GNLN) scores 26 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.