Greenlane Holdings Stock Price, News & Analysis

Greenlane Holdings (NASDAQ:GNLN) has partnered with Universal Distribution LATAM to distribute its Greenlane Brands in Latin America, specifically in Chile, Uruguay, and Argentina. The agreement grants exclusive and non-exclusive rights for promotion and sales, targeting sales of at least $1.5 million in the first year, $1.9 million in the second year, and $2.4 million in the third year. This asset-light strategy allows Greenlane to expand without heavy capital investment, leveraging local expertise.

Greenlane Holdings (NASDAQ: GNLN) announces a conference call on May 17, 2022, at 8:30 a.m. Eastern Time to discuss its financial and operational results for Q1 2022, which ended on March 31, 2022. The call will include a live presentation accessible via their Financial Results page. Interested parties can join by phone or online. A replay will be available until May 31, 2022. Greenlane is a leading global seller of cannabis accessories and products, serving over 8,500 retail locations.

Greenlane Holdings (Nasdaq: GNLN) will participate in the Benzinga Cannabis Capital Conference on April 20-21, 2022, at the Fontainebleau Miami Beach hotel. CEO Nick Kovacevich is scheduled to speak on April 21st at 3:20 PM ET and will hold one-on-one meetings with investors throughout the event. This conference, featuring over 1,000 leaders from the cannabis sector, offers exclusive networking and investment opportunities. The event will include a newly added expo floor and enhanced features for attendees. Register for the event through provided links.

Greenlane Holdings reported a 54% revenue increase to $56 million in Q4 2021 and a 20.1% rise to $166.1 million for the full year. The company implemented a strategic plan aiming for positive adjusted EBITDA by Q3 2022, focusing on reducing costs by nearly 40% and generating $30 million in liquidity. The net loss for Q4 2021 was $11.15 million. Notably, sales of Greenlane Brands grew 52.3% in 2021, although the consumer goods segment experienced a 23.9% decline in Q4 due to reduced lower-margin sales. The company remains optimistic about future growth despite industry challenges.

Greenlane Holdings (NASDAQ:GNLN) will host a conference call on March 31, 2022, at 8:30 a.m. Eastern Time to discuss its fourth quarter and full-year financial results for 2021. Financial results will be reported after market close on March 30, 2022. Interested parties can access the call via dial-in or through a webcast link. The company aims to provide insights into its operational and financial performance, followed by a Q&A session.

Greenlane Holdings (NASDAQ:GNLN) announced a leadership change, appointing Craig Snyder as Chief Commercial Officer and confirming the departure of Adam Schoenfeld as Chief Marketing Officer. The company is implementing significant cost-cutting measures, expecting to save $8 million annually and reduce adjusted SG&A expenses to $14-16 million by Q3 2022. Greenlane aims to increase liquidity through asset sales and a possible asset-based loan, targeting over $30 million. Preliminary financials project net sales of $55.5-56.5 million for Q4 2021 and an expected net loss of $11-13 million.

Greenlane Holdings (NASDAQ:GNLN) announced preliminary fourth quarter revenue between $55.5 million and $56.5 million, marking a 54% increase year-over-year, boosted by sales of Greenlane Brands and the recent merger with KushCo. For the full year, estimated sales are $165.5 million to $166.5 million, with gross margins expected at 18% to 20% for Q4. The company aims to leverage merger synergies, achieving approximately $8 million in cost savings. A conference call is scheduled for March 30, 2022, to discuss detailed results.

Greenlane Holdings (NASDAQ:GNLN) has received approval from the US Postal Service to ship electronic nicotine delivery systems (ENDS) products, significantly impacting sales and logistics. This approval allows over 97% of the company's shipments to utilize USPS and major carriers, reducing the impact of the PACT Act on annual sales to less than 3%. CEO Nick Kovacevich emphasized the company's readiness to comply with regulatory changes while enhancing customer experiences and logistics capabilities for third-party brands.

Greenlane Holdings (NASDAQ:GNLN) announced it achieved approximately $8 million in cost-saving synergies in the four months post-merger with KushCo. The company aims for total synergies of $15 to $20 million within 24 months. Leadership changes include Aaron LoCascio stepping down as President while remaining on the board and providing an $8 million bridge loan for growth initiatives. Adam Schoenfeld transitions to Chief Marketing Officer, streamlining operations and reducing overhead costs.