STOCK TITAN
  1. Home
  2. Sec-filings
  3. GNLN
  4. [8-K] Greenlane Holdings, Inc. Reports Material Event

Greenlane Holdings (GNLN) swings to $24.8M quarterly loss on BERA volatility

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Greenlane Holdings reported second quarter 2026 results reflecting its shift to a digital asset treasury model centered on BERA tokens. Net revenue from its legacy wholesale business fell to $82,000, down 90% year over year, while the Digital Asset Segment generated $309,000 of staking and yield revenue. Operating loss was $3.3 million, essentially flat versus a year ago but improved sequentially as total operating expenses declined about 37% from the first quarter to $3.6 million, driven by lower salaries and reduced legacy headcount. The company recorded a non-cash $19.1 million loss from change in fair value of digital assets and a $1.8 million investment impairment, leading to a net loss of $24.8 million. As of June 30, 2026, Greenlane held about 81.3 million BERA and BERA-equivalent units with fair value of $16.4 million and a cost basis of $70.2 million, and reported BERA-per-share of roughly 117, up about 37% from year-end 2025. Cash and cash equivalents declined to $6.1 million from $32.5 million at December 31, 2025. The company also highlighted potential future pressure from a proposed Nasdaq rule requiring a $5.0 million minimum market value of listed securities, which is currently stayed pending SEC Commission review.

Positive

  • Total operating expenses fell about 37% sequentially to $3.6 million, driven largely by a roughly 49% reduction in salaries, benefits and payroll taxes, showing substantial progress in aligning the cost base with the scaled-down business.
  • Digital asset activities produced $309,000 in second-quarter staking and yield revenue and $729,000 for the first half of 2026, establishing a new income stream separate from the declining legacy wholesale operations.
  • BERA-per-share increased about 37% to roughly 117 units per Class A share at June 30, 2026, reflecting growth in BERA and BERA-equivalent holdings relative to the share count under the company’s digital asset treasury strategy.

Negative

  • Second-quarter net revenue dropped to $82,000, down 90% from $788,000 a year earlier, as the legacy business transitioned to a lower-scale, asset-light operating model with lower sales volume and exited facilities.
  • The company reported a quarterly net loss of $24.8 million and a first-half 2026 net loss of $43.2 million, compared with $3.2 million and $7.1 million in the respective prior-year periods, driven largely by digital asset fair value losses.
  • Greenlane recorded a non-cash $19.1 million loss from change in fair value of digital assets in the quarter and $32.0 million for the first half, plus a $1.8 million investment impairment, highlighting significant exposure to BERA price volatility.
  • Cash and cash equivalents declined from $32.5 million at December 31, 2025 to $6.1 million at June 30, 2026, reflecting $7.1 million of operating cash outflow and $19.4 million of investing cash outflow into digital assets and stablecoin-related instruments.
  • The company noted that, absent a stay, its current market value of listed securities would be below Nasdaq’s newly approved $5.0 million continued-listing threshold, creating potential future listing risk if the amended rule becomes effective without a cure period.

Insights

Analyzing...

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net revenue Q2 2026 $82,000 Net revenue for the three months ended June 30, 2026; 90% lower than Q2 2025
Staking and yield revenue Q2 2026 $309,000 Staking and yield revenue from the Digital Asset Segment in second quarter 2026
Operating loss Q2 2026 $3,284,000 Loss from operations for the three months ended June 30, 2026
Change in fair value of digital assets Q2 2026 $(19,142,000) Non-cash loss driven primarily by BERA price movements in the quarter
Net loss Q2 2026 $(24,833,000) Net loss attributable to Greenlane Holdings, Inc. for second quarter 2026
Cash and cash equivalents $6,065,000 Cash balance at June 30, 2026, versus $32,513,000 at December 31, 2025
BERA holdings fair value $16,442,000 Fair value of approximately 81.3 million BERA and BERA-equivalent units at June 30, 2026
Total operating expenses Q2 2026 $3,625,000 Quarterly operating expenses, about 37% lower than first quarter 2026
digital asset treasury strategy financial
"a digital asset treasury strategy focused on the acquisition, management, and strategic deployment of BERA"
A digital asset treasury strategy is a plan for managing a company's or organization's digital assets, such as cryptocurrencies or digital tokens, to support its financial goals. It involves deciding how to acquire, hold, and use these assets efficiently, much like managing cash or investments, to optimize value and minimize risks. For investors, understanding this strategy helps gauge how well an organization controls its digital resources and its overall financial health.
Proof of Liquidity technical
"staking revenue from participation in Berachain’s Proof of Liquidity (“PoL”) consensus mechanism"
Proof of liquidity is documentation or evidence showing that an entity has enough readily available cash or assets that can be quickly converted to cash to meet short-term obligations or to support trading activity. For investors, it matters because it reduces the risk that the company, fund, or market will run out of cash, default on payments, or face sudden price swings; think of it as a bank statement proving there’s money in the checking account before making a big purchase.
staking and yield revenue financial
"The Company also recognized approximately $0.3 million of staking and yield revenue"
market value of listed securities regulatory
"a minimum market value of listed securities requirement of $5.0 million for continued listing"
The market value of listed securities is the total worth of stocks, bonds and other tradable instruments quoted on an exchange, measured using the prices investors are willing to pay right now. It’s calculated by multiplying each security’s current market price by the number of units outstanding and adding those amounts together, like totaling the value of every item in a store at today’s prices. Investors watch this because it shows the size, liquidity and overall health of the market or a company’s publicly traded portion, and it influences index weights, fund allocations and perceived risk.
Net revenue Q2 2026 $82,000 Down 90% versus $788,000 in Q2 2025
Staking and yield revenue Q2 2026 $309,000 Not applicable; no comparable staking and yield revenue in Q2 2025
Operating loss Q2 2026 $(3,284,000) Increased 1% versus $(3,256,000) in Q2 2025
Net loss Q2 2026 $(24,833,000) Not meaningful compared with $(3,215,000) in Q2 2025 due to new digital asset impacts
Change in fair value of digital assets Q2 2026 $(19,142,000) Not applicable; no such item reported in Q2 2025

FAQ

What were Greenlane Holdings (GNLN) key financial results for Q2 2026?
Greenlane reported net revenue of $82,000, down 90% year over year, and staking and yield revenue of $309,000. Operating loss was $3.3 million, while a $19.1 million digital asset fair value loss drove a $24.8 million net loss.

How large are Greenlane Holdings (GNLN) BERA holdings and BERA-per-share?
As of June 30, 2026, Greenlane held about 81.3 million BERA and BERA-equivalent units with fair value of $16.4 million and a $70.2 million cost basis. BERA-per-share was roughly 117, up about 37% from year-end 2025.

How did operating expenses change for Greenlane Holdings (GNLN) in Q2 2026?
Total operating expenses were $3.6 million in Q2 2026, down about 37% sequentially from $5.8 million. The reduction was driven mainly by an approximately $0.7 million, or 49%, decline in salaries, benefits and payroll taxes tied to reduced legacy headcount.

What is Greenlane Holdings (GNLN) cash position and cash flow trend?
Cash and cash equivalents were $6.1 million at June 30, 2026, down from $32.5 million at year-end 2025. For the first half of 2026, the company used $7.1 million in operating cash and $19.4 million in investing cash, mainly for digital assets and stablecoin instruments.

Is Greenlane Holdings (GNLN) at risk under Nasdaq’s new market value rule?
Greenlane stated that, without the current stay, its market value of listed securities would be below Nasdaq’s proposed $5.0 million continued-listing requirement. The rule is under SEC Commission review, and the company is monitoring developments and evaluating ways to increase its market value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Understanding 8-K Material Events →
false 0001743745 0001743745 2026-08-14 2026-08-14 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 14, 2026

 

GREENLANE HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-38875   83-0806637

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

4800 N Federal Hwy, Suite B200    
Boca Raton FL   33431
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (877) 292-7660

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Class A Common Stock, $0.01 par value per share   GNLN   Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On August 14, 2026, Greenlane Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the three months ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

 

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit Number   Description
     
99.1   Press Release, dated August 14, 2026.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  GREENLANE HOLDINGS, INC.
     
Date: August 14, 2026 By: /s/ Jason Hitchcock
  Name: Jason Hitchcock
  Title: Chief Executive Officer

 

 

 

Exhibit 99.1

 

August 14, 2026

 

Greenlane Reports Second Quarter 2026 Financial Results

 

●Total Operating Expenses Reduced Approximately 37% Sequentially    in the Second Quarter 2026 from the First Quarter 2026, Reflecting Continued Cost Alignment

 

●BERA Holdings of Approximately 81.3 Million Units at Quarter-End; BERA-per-Share Increased Approximately 37% from Year-End, While the Fair Value of BERA Holdings Declined During the Quarter

 

BOCA RATON, Fla., August 14, 2026 (GLOBE NEWSWIRE) — Greenlane Holdings, Inc. (“Greenlane” or the “Company”) (Nasdaq: GNLN), a publicly traded company with a digital asset treasury strategy focused on the acquisition, management, and strategic deployment of BERA, the native token of the Berachain blockchain network, today reported its financial results for the second quarter ended June 30, 2026 (“second quarter 2026”).

 

Digital Asset Treasury Strategy

 

In October 2025, the Company adopted a digital asset treasury strategy (the “BERA Strategy”) focused on the acquisition, management, and strategic deployment of BERA, the native token of the Berachain blockchain network, following the closing of a $110.7 million private placement transaction (the “October 2025 private placement”). The Company’s treasury policy is overseen by the Board’s Digital Asset Committee, and capital deployment under the BERA Strategy is governed by a disciplined approach aimed at increasing long-term BERA-per-share. Additional information regarding the BERA Strategy and its component activities is set forth in the Company’s Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”).

 

During the second quarter 2026, Greenlane deployed approximately $1.2 million into BERA and BERA-equivalent digital assets and approximately $4.1 million into stablecoin-related protocol instruments. As of June 30, 2026, the Company held approximately 81.3 million units of BERA (inclusive of BERA-equivalent tokens) at a cost basis of approximately $70.2 million and a fair value of approximately $16.4 million, compared to approximately 77.7 million units of BERA at March 31, 2026 and approximately 51.7 million units of BERA at December 31, 2025. BERA-per-share was approximately 117 units of BERA per Class A share at June 30, 2026, compared to approximately 86 units of BERA per Class A share at December 31, 2025, an increase of approximately 37%1. BERA-per-share reflects the number of BERA and BERA-equivalent units held per outstanding share of Class A common stock and is not a measure of financial performance or of the fair value of the Company’s holdings. BERA-per-share does not reflect changes in the market price of BERA, and the fair value of the Company’s BERA holdings declined during the second quarter 2026, as reflected in the accompanying financial statements. The Company also recognized approximately $0.3 million of staking and yield revenue, consisting of staking revenue from participation in Berachain’s Proof of Liquidity (“PoL”) consensus mechanism and yield earned on the Company’s stablecoin-related protocol instruments, during the quarter.

 

During the second quarter 2026, the Company continued to execute token purchase and lending arrangements with Berachain Operations Corporation to facilitate BERA acquisition activity. As of June 30, 2026, the maximum amount available under the lending arrangement was $5.0 million. Additional information regarding these arrangements is included in the Company’s Quarterly Report on Form 10-Q.

 

Management Commentary

 

“In the second quarter of 2026, we reduced total operating expenses by approximately 37% sequentially    from the first quarter 2026 as we continued to align our cost base with the scale of our business. At the same time, we advanced our BERA Strategy, growing our holdings to approximately 81.3 million units of BERA at quarter-end and increasing BERA-per-share by approximately 37% from year-end, even as the fair value of our BERA holdings declined during the quarter, reflecting lower BERA market prices. We remain focused on the disciplined execution of our BERA Strategy, prudent management of our liquidity, and continued cost discipline.”

 

Jason Hitchcock, Chief Executive Officer

 

 

1BERA-per-share is calculated by dividing the Company’s total holdings of BERA and BERA-equivalent units as of the applicable date by the number of shares of Class A common stock issued and outstanding as of such date. BERA-per-share does not give effect to shares of Class A common stock issuable upon the exercise of outstanding pre-funded warrants or other convertible securities.

 

 
 

 

Second Quarter 2026 Financial Highlights

 

(in thousands)  Q2 2026   Change vs. Q2 2025 
Net revenue  $82    (90)%
Staking and yield revenue  $309    N/A 
Gross profit  $32    NM 
Operating loss  $(3,284)   1%
Change in fair value of digital assets  $(19,142)   N/A 
Net loss attributable to Greenlane Holdings  $(24,833)   NM 

 

Total operating expenses declined approximately 37% sequentially to $3.6 million in the second quarter 2026, from $5.8 million in the first quarter 2026, reflecting continued alignment of the Company’s operations with the scale of its business. The sequential reduction was driven primarily by an approximately $0.7 million (approximately 49%) decline in salaries, benefits and payroll taxes, reflecting reduced legacy headcount. On a year-over-year basis, total operating expenses increased from approximately $3.3 million in the second quarter 2025, primarily reflecting costs associated with the Company’s newly established Digital Asset Segment, which did not exist in the prior-year period.

 

Net revenue for the second quarter 2026 was approximately $0.1 million, compared to approximately $0.8 million in the second quarter 2025, and consisted entirely of legacy wholesale and distribution sales. In addition, the Company recognized approximately $0.3 million of staking and yield revenue from the Digital Asset Segment, which is presented separately below gross profit (loss) in the condensed consolidated statements of operations. The year-over-year decrease in net revenue was primarily attributable to the transition of the legacy business to a lower-scale, asset-light operating model, including lower sales volume and the exit of leased facilities.

 

Loss from operations was $(3.3) million, compared to $(3.3) million in the second quarter 2025, but narrowed from $(5.6) million in the first quarter 2026 as the Company continued to reduce its operating cost base. General and administrative expenses for the quarter also reflected costs associated with the newly established Digital Asset Segment. The Company also recognized a non-cash change in fair value of digital assets of $(19.1) million and an impairment of investments of $(1.8) million during the second quarter 2026, primarily driven by market fluctuations in the price of BERA and a reduction in the carrying value of a legacy equity investment. Net loss attributable to Greenlane Holdings, Inc. was $(24.8) million, compared to $(3.2) million in the prior year period.

 

For the six months ended June 30, 2026, net revenue was approximately $0.1 million, compared to approximately $2.3 million in the prior year period, and the Company recognized approximately $0.7 million of staking and yield revenue from its Digital Asset Segment. Loss from operations was $(8.9) million, compared to $(6.7) million in the prior year period, reflecting costs associated with the newly established Digital Asset Segment and elevated legal, professional and advisory costs, partially offset by lower legacy operating costs. The Company also recognized a non-cash change in fair value of digital assets of $(32.0) million and an impairment of investments of $(1.8) million for the six-month period, primarily driven by market fluctuations in the price of BERA and a reduction in the carrying value of a legacy equity investment. Net loss attributable to Greenlane Holdings, Inc. was $(43.2) million, compared to $(7.1) million in the prior year period.

 

The Company’s selected unaudited condensed consolidated financial statements are included as exhibits to this press release and should be read together with the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2026.

 

Subsequent Events

 

Subsequent to June 30, 2026, the Company had the following developments:

 

Nasdaq Market Value of Listed Securities Requirement

 

On July 22, 2026, the staff of the SEC, acting pursuant to delegated authority, approved an amendment to the Nasdaq listing standards that would establish a minimum market value of listed securities requirement of $5.0 million for continued listing on the Nasdaq Capital Market. Petitions seeking Commission review of the approval order were subsequently filed, and on July 29, 2026, the approval order was stayed pending review by the Commission. As a result, the ultimate effectiveness and timing of the amended rule remain subject to Commission review. Absent the stay, the Company’s current market value of listed securities would be below the $5.0 million threshold under the amended rule. The amended rule, as approved, does not provide a compliance or cure period. As of the date of this press release, the Company has not received a deficiency notice or Staff Delisting Determination from the Nasdaq staff. The Company is monitoring its market value of listed securities, the status of the Commission’s review, and communications from the Nasdaq staff, and is evaluating alternatives to increase its market value of listed securities. Additional information is included in the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2026.

 

 
 

 

About Greenlane Holdings, Inc.

 

Greenlane Holdings, Inc. (Nasdaq: GNLN) is a publicly traded digital asset treasury company and, it believes, the only Nasdaq-listed company purpose-built to accumulate BERA and actively participate in Berachain’s Proof-of-Liquidity infrastructure. Greenlane provides exposure to Berachain through a standard, regulated brokerage account, with no cryptocurrency wallet, exchange account, or custody infrastructure required. For more information, visit www.gnln.com.

 

About Berachain

 

Berachain is a decentralized, open-source, EVM-compatible layer-1 blockchain engineered for high throughput, low latency, and full compatibility with Ethereum tooling, smart contracts, and infrastructure. Berachain utilizes a novel Proof of Liquidity consensus mechanism that integrates network security with active liquidity provisioning. For more information, visit berachain.com.

 

Contacts

 

Investor Relations: Greenlane@icrinc.com

 

Forward-Looking Statements

 

This press release contains statements that constitute “forward-looking statements.” Forward-looking statements are statements other than historical facts and include, without limitation, statements regarding progress and achievement of the Company’s goals regarding BERA acquisition, staking, and validator participation; the development of the Berachain network ecosystem including business adoption of the network; the long-term value of BERA; the Company’s ability to increase long-term BERA-per-share; continued growth and advancement of the Company’s BERA Strategy and the applicable benefits to the Company; the Company’s ability to streamline and reduce operating costs, including with respect to its legacy lifestyle accessories business; the Company’s ability to remain in compliance with Nasdaq’s listing requirements, including any amended minimum market value of listed securities requirement; and other projections or statements of plans and objectives.

 

These forward-looking statements are based on current expectations, estimates, assumptions, and projections, and involve known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control, that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, the Company’s ability to execute its growth strategy; its ability to raise and deploy capital effectively; developments in technology and the competitive landscape; changes in the regulatory landscape applicable to digital assets, including BERA; the market performance of BERA; and other risks and uncertainties described under “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2026, the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2026, and in other subsequent filings with the SEC. These filings are available at www.sec.gov. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

 

Cautionary Note Regarding Digital Assets

 

BERA is a digital asset that is not legal tender, is not backed by any government or central bank, and may be subject to extreme price volatility, regulatory uncertainty and technological risk. Investments in and exposures to digital assets such as BERA are highly speculative and may result in the loss of all or a substantial portion of the invested capital. Statements about the Berachain protocol, its consensus model, ecosystem projects, and fundraising are based on publicly available information and/or information provided by third parties. The Company has not independently verified all such information and makes no representation as to its accuracy or completeness. Protocol parameters and incentive mechanisms may change over time through governance or other processes. The Company’s activities involving BERA and other digital assets may not be suitable for all investors and are subject to the risks described in the “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the SEC on March 31, 2026, the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2026, and in other subsequent filings with the SEC. These filings are available at www.sec.gov.

 

 
 

 

EXHIBIT 1

 

GREENLANE HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

(in thousands, except share and per share amounts)  June 30, 2026   December 31, 2025 
   (unaudited)     
ASSETS          
Current assets          
Cash and cash equivalents  $6,065   $32,513 
Accounts receivable, net   13    1,572 
Stablecoin-related protocol instruments   8,057    — 
Other current assets   1,309    2,001 
Total current assets   15,444    36,086 
Property and equipment, net   —    253 
Operating lease right-of-use assets   —    144 
Digital assets   16,442    36,555 
Other assets   140    1,893 
Total assets  $32,026   $74,931 
LIABILITIES          
Current liabilities          
Accounts payable  $6,014   $5,414 
Accrued expenses and other current liabilities   529    1,627 
Current portion of operating leases   —    166 
Total current liabilities   6,543    7,207 
Total liabilities   6,543    7,207 
Commitments and contingencies   —    — 
STOCKHOLDERS’ EQUITY          
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding   —    — 
Class A common stock, $0.01 par value, 1,800,000,000 shares authorized; 694,544 and 603,696 shares issued and outstanding*   7    6 
Class B common stock, $0.0001 par value, 30,000,000 shares authorized; none issued and outstanding*   —    — 
Additional paid-in capital*   429,178    428,111 
Accumulated deficit   (403,702)   (360,509)
Accumulated other comprehensive income   —    265 
Total stockholders’ equity attributable to Greenlane Holdings, Inc.   25,483    67,873 
Non-controlling interest   —    (149)
Total stockholders’ equity   25,483    67,724 
Total liabilities and stockholders’ equity  $32,026   $74,931 

 

* After giving effect to the Reverse Stock Splits.

 

 
 

 

EXHIBIT 2

 

GREENLANE HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(unaudited)

 

   Three Months Ended June 30,   Six Months Ended June 30, 
(in thousands, except share and per share amounts)  2026   2025   2026   2025 
Net revenue  $82   $788   $109   $2,257 
Cost of sales   50    786    282    1,534 
Gross profit (loss)   32    2    (173)   723 
                     
Staking and yield revenue, net   309    —    729    — 
                     
Operating expenses:                    
Salaries, benefits and payroll taxes   738    1,119    2,172    2,386 
Stock-based compensation – strategic advisory warrants   236    —    476    — 
General and administrative   2,525    1,938    6,511    4,762 
Depreciation and amortization   126    201    253    307 
Total operating expenses   3,625    3,258    9,412    7,455 
Loss from operations   (3,284)   (3,256)   (8,856)   (6,732)
                     
Other income (expense), net:                    
Interest income (expense), net   22    —    56    (391)
Change in fair value of digital assets   (19,142)   —    (32,011)   — 
Impairment of investments   (1,769)   —    (1,769)   — 
Other income (expense), net   (665)   41    (469)   41 
Total other income (expense), net   (21,554)   41    (34,193)   (350)
Loss before income taxes   (24,838)   (3,215)   (43,049)   (7,082)
Provision for (benefit from) income taxes   (5)   —    (5)   — 
Net loss   (24,833)   (3,215)   (43,044)   (7,082)
Less: Net income attributable to non-controlling interest   —    —    149    — 
Net loss attributable to Greenlane Holdings, Inc.  $(24,833)  $(3,215)  $(43,193)  $(7,082)
Net loss attributable to Class A common stock per share – basic and diluted*  $(6.06)  $(25.46)  $(10.60)  $(111.42)
Weighted-average shares of Class A common stock outstanding – basic and diluted*   4,097,688    126,277    4,075,852    63,562 
                     
Reclassification adjustment for accumulated foreign currency translation gain included in net loss   —    —    (265)   — 
Comprehensive loss attributable to Greenlane Holdings, Inc.  $(24,833)  $(3,215)  $(43,458)  $(7,082)

 

* After giving effect to the Reverse Stock Splits.

 

 
 

 

EXHIBIT 3

 

GREENLANE HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

 

(in thousands, except share and per share amounts)  Six Months Ended June 30, 2026   Six Months Ended June 30, 2025 
Cash Flows from Operating Activities:          
Net loss  $(43,044)  $(7,082)
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization   253    307 
Strategic advisory warrants   476    — 
Stock-based compensation   592    — 
Realized foreign currency gain   (265)   — 
Non-cash staking revenue   (668)   — 
Write-off of vendor deposits and accrued liabilities   (1,493)   — 
Change in fair value of digital assets   32,011    — 
Impairment of investments   1,769    — 
Accretion of debt discount   —    284 
Provision for doubtful accounts   1,251    673 
Digital assets transaction fees   63    — 
Changes in operating assets and liabilities:          
Accounts receivable   308    (206)
Inventories   —    (137)
Vendor deposits   —    564 
Other current assets   692    88 
Accounts payable   2,077    (1,075)
Accrued expenses and other liabilities   (1,120)   (116)
Customer deposits   —    (1,195)
Net cash used in operating activities   (7,098)   (7,895)
Cash Flows from Investing Activities:          
Purchases of property and equipment, net   —    (68)
Purchases of digital assets   (11,293)   — 
Purchases of stablecoin-related protocol instruments   (8,057)   — 
Net cash used in investing activities   (19,350)   (68)
Cash Flows from Financing Activities:          
Proceeds from issuance of Class A common stock and warrants   —    20,746 
Repayments of notes payable   —    (7,958)
Net cash provided by financing activities   —    12,788 
Net (decrease) increase in cash and cash equivalents   (26,448)   4,825 
Cash and cash equivalents, beginning of period   32,513    899 
Cash and cash equivalents, end of period  $6,065   $5,724 

 

Source: Greenlane Holdings, Inc.

 

 

 

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Press Releases

Other Documents