Greenlane Holdings Stock Price, News & Analysis

Greenlane Holdings (GNLN) announced a transformational merger with KushCo, solidifying its position as a leader in the ancillary cannabis industry. Q3 2021 revenue reached $41.3 million, a 16% increase from Q3 2020, with Greenlane Brands revenue up 26%. The company targets $70 million in revenue for 2022 and $100 million for 2023, with projected gross margins of 45%+. However, gross profit drastically declined by 95.1% to $122,000 due to a one-time inventory rationalization. Cash reserves decreased 56.6%, impacting liquidity.

Greenlane Holdings (NASDAQ:GNLN) has launched the new Eyce ORAFLEX spoon pipe, a durable and stylish product made from platinum-cured silicone and designed to mimic hand-blown glass pipes. With two layers for enhanced durability and a removable borosilicate glass bowl, it offers a flavorful smoking experience and easy cleaning. The ORAFLEX line features 20 color variations, emphasizing innovation in the smoking accessories market. CEO Nick Kovacevich highlighted this launch as part of Greenlane's commitment to pushing the boundaries in this sector.

Greenlane Holdings (NASDAQ:GNLN) announced preliminary financial results for Q3 2021, reporting net sales between $40 million and $41 million, following its merger with KushCo Holdings. The company's GAAP Gross margin is projected between -2% and 0%, with an Adjusted Gross margin of 19% to 21%. Total cash is approximately $13 million. Management emphasized their focus on inventory rationalization post-merger to enhance operational efficiency and generate cash for growth. The company will host a conference call on November 16, 2021, at 8:30 a.m. ET to discuss results in detail.

Greenlane Holdings (NASDAQ:GNLN) has announced the launch of The Cali by VIBES, a new pre-roll designed to enhance the smoking experience. This innovative product features a cylindrical design for optimal airflow and is available in three sizes: One, Two, and Three Gram. Developed through extensive research, it represents a significant shift from traditional cone pre-rolls. The Cali will be available nationwide, complementing VIBES’ growing reputation and sales, which have surged over 100% consecutively each quarter since its inception.

Greenlane Holdings (NASDAQ:GNLN) has announced the acquisition of DaVinci, a leading manufacturer of premium portable vaporizers. This acquisition aims to enhance Greenlane's owned brands portfolio and intellectual property pipeline. DaVinci is notable for its innovative products, including the award-winning IQ vaporizer. The deal is expected to close in Q4 2021 and will likely be immediately accretive to Greenlane’s revenue and earnings. The company emphasizes its commitment to delivering high-quality cannabis consumption experiences.

Greenlane Holdings (NASDAQ:GNLN) and Jupiter Research are supporting Smoore Technology in a complaint to the U.S. International Trade Commission against IP infringements of CCELL branded vape products. The complaint aims to block imports of infringing products, safeguarding the brand’s reputation and consumer safety. Both companies are authorized distributors of CCELL products, which are manufactured in GMP and ISO-certified facilities. This action addresses the rising issue of knock-offs in the vape market, ensuring high-quality standards are upheld.

Greenlane Holdings (NASDAQ:GNLN) has appointed Donald Hunter as the new Chairman of the Board, effective September 30, 2021. Hunter, an independent director, is recognized for his strong governance background and experience in corporate strategy. Former Chairman Aaron LoCascio remains on the board. This change aims to bolster corporate governance and diversity within the board while enhancing shareholder value. Hunter brings over 30 years of public company experience and has served on several audit committees, reinforcing Greenlane's commitment to operational excellence and stakeholder engagement.

Greenlane Holdings (NASDAQ:GNLN) announced participation in several upcoming investor conferences, including the AGP Virtual Fall Cannabis Conference on October 5, 2021, and the NCIA's 3rd Annual CannaVest West on December 16-17, 2021. CEO Nick Kovacevich and CFO Bill Mote aim to engage with investors post-merger with KushCo, sharing updates on integration and financial models. The company serves over 8,000 retail locations globally and focuses on premium cannabis accessories and specialty vaporization products. More information can be found on their website.

Greenlane Holdings (Nasdaq: GNLN) and KushCo Holdings have merged to create a leading company in the cannabis ancillary products sector. Greenlane's shares will continue trading under the ticker GNLN. Each KushCo shareholder receives 0.3016 of a Greenlane share. The newly combined company aims to leverage its strengths to create significant value through synergies, projecting annual cost savings of $15-20 million. The leadership team includes CEO Nick Kovacevich, with plans for robust growth and innovation across the industry.