Greenlane Holdings - GNLN STOCK NEWS

Greenlane Holdings reported Q3 2020 financial results, showing core revenue growth of 36% to $32.3 million compared to Q3 2019. Greenlane Brands grew 65% to $5.6 million. Total revenue rose 10% sequentially to $35.8 million. The company implemented G&A cuts, targeting annual savings of $5 million. Cash reserves stand at $40 million. Despite a net loss of $13.8 million, adjusted net loss improved to $6.9 million. Greenlane is focused on transitioning to high-margin products and anticipates a return to profitability in early 2021.

Greenlane Holdings (GNLN) will hold a conference call on November 17, 2020, at 8:30 a.m. ET to discuss third-quarter results for the period ended September 30, 2020. The financial results will be released prior to the call. Greenlane is a leading seller of premium cannabis accessories and vaporization products, serving over 11,000 retail locations globally. The company features a diverse brand portfolio, including partnerships with PAX Labs and Storz & Bickel. For investor inquiries, reach out to MATTIO Communications.

Greenlane Holdings, Inc. (GNLN), a major global seller of cannabis accessories, has rescheduled its Q3 2020 earnings conference call to the week of November 16, 2020. This change is due to the need to finalize tax entries related to its European operations. Greenlane is recognized for its extensive portfolio, including brands like PAX Labs and Storz & Bickel, and operates over 11,000 retail locations. The company also emphasizes its commitment to transparency, citing forward-looking statements that highlight potential risks and uncertainties impacting business performance.

Greenlane Holdings, a leader in premium cannabis accessories, has scheduled a conference call to discuss its third-quarter results for 2020. The call will take place on Thursday, November 12th, 2020, at 8:30 a.m. Eastern Time. Investors can access financial results before the call. The dial-in number is (833) 519-1285 with conference ID 9693218. For web access, listeners can click here. A replay will be available until November 26th, 2020.

Greenlane Holdings (Nasdaq: GNLN) announced the launch of Eyce's ProTeck™ Glass Series, featuring three new innovative products: the Eyce Spark, Ash Tray, and Rolling Tray. These items integrate borosilicate glass with silicone for enhanced functionality and durability. The Spark includes a battery-powered LED light and storage features. The Ash Tray has a dual-purpose design, while the Rolling Tray is spacious and versatile. Retailers can purchase these products through Greenlane's website, expanding their appeal to a diverse consumer base in the cannabis accessories market.

Greenlane Holdings (Nasdaq: GNLN) announced a global distribution deal for Marley Natural accessories on October 12, 2020. This partnership will expand the iconic cannabis brand's presence into Central and South America, the Caribbean, and Europe. The accessories feature sustainable materials and are designed with a nod to Bob Marley's legacy. Both companies aim to enhance market accessibility and reach a broader consumer audience. This collaboration marks a significant step in Greenlane's strategy to bolster its global footprint.

Greenlane Holdings (Nasdaq: GNLN) announces leadership changes, appointing Michael Cellucci as President of Sales and Marketing for North America, and Michael Ouwendijk as Sales & Marketing Director for Greenlane Europe. Cellucci, with over 20 years in consumer packaged goods, previously led Drew Estate to significant growth. Ouwendijk has a history in enhancing sales strategies across various brands. This strategic hiring aims to capitalize on higher-margin revenue opportunities and strengthen growth in their respective markets.

Greenlane Holdings (GNLN) announces the launch of new color options for the PAX 3 cannabis vaporizer, now available in Burgundy, Onyx, Sage, and Sand. The PAX 3 features advanced technology, including lip-sensing and Bluetooth connectivity, with a rapid heat-up time and a long-lasting battery. To promote the new colors, a collaboration with Revelry introduces a limited-time offer, providing a free smell-proof pouch with each PAX 3 purchase. This partnership aims to enhance brand exposure for both companies in the cannabis market.

Greenlane Holdings (GNLN) has launched a new line of machine-manufactured pre-rolled cones made from high-quality, responsibly sourced materials. Available in Rice, Natural Brown, and Organic Hemp blends, the cones feature a patent-pending manufacturing process that ensures precision and efficiency. They are produced in an ISO 9000-compliant facility and come in three sizes: 1 1/4, Slim, and King. These cones are customizable for brands and are accessible through bulk orders with short delivery times. Greenlane continues to enhance the cannabis consumption experience with innovative products.