Greenlane Holdings Files 2023 10-K

Ticker: GNLN · Form: 10-K · Filed: Jul 19, 2024 · CIK: 1743745

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

Greenlane Holdings dropped its 2023 10-K. Check financials for 2023 vs 2022/2021.

AI Summary

Greenlane Holdings, Inc. filed its 2023 10-K report on July 19, 2024, detailing its financial performance for the fiscal year ending December 31, 2023. The company, headquartered in Boca Raton, FL, operates in the wholesale durable goods sector. The filing provides financial data for the fiscal years 2023, 2022, and 2021, including details on common stock, additional paid-in capital, retained earnings, and other comprehensive income.

Why It Matters

This filing provides investors with a comprehensive overview of Greenlane Holdings' financial health and operational performance for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the company's financial performance and market conditions could present medium-level risks.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of Greenlane Holdings, Inc. as indicated by its SIC code?

Greenlane Holdings, Inc. is classified under SIC code 5099, indicating its business is in Wholesale - Durable Goods, NEC (Not Elsewhere Classified).

When was this 10-K filing submitted to the SEC?

This 10-K filing was submitted to the SEC on July 19, 2024.

What is the fiscal year end date for Greenlane Holdings, Inc.?

The fiscal year end date for Greenlane Holdings, Inc. is December 31.

Where is Greenlane Holdings, Inc. headquartered?

Greenlane Holdings, Inc. is headquartered at 1095 Broken Sound Parkway, Suite 100, Boca Raton, FL 33487.

What types of financial statement items are detailed for the fiscal years 2021, 2022, and 2023?

The filing details items such as Common Stock (Class A and B), Additional Paid-In Capital, Retained Earnings, Accumulated Other Comprehensive Income, and Noncontrolling Interest for the specified fiscal years.

Filing Stats: 4,423 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-07-18 20:58:23

Key Financial Figures

Filing Documents

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 12 Item 1B. Unresolved Staff Comments 44 Item 1C. Cybersecurity 44 Item 2.

Properties

Properties 44 Item 3.

Legal Proceedings

Legal Proceedings 44 Item 4. Mine Safety Disclosures 44 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 45 Item 6. [Reserved] 45 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 56 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 56 Item 9. Changes in Disagreements with Accountants on Accounting and Financial Disclosure 58 Item 9A.

Controls and Procedures

Controls and Procedures 58 Item 9B. Other Information 60 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 60 PART III Item 10. Directors, Executive Officers and Corporate Governance 61 Item 11.

Executive Compensation

Executive Compensation 62 Item 12.

Security Ownership of Certain Beneficial Owners and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Related Stockholder Matters 65 Item 13. Certain Relationships and Related Transactions, and Director Independence 65 Item 14. Principal Accounting Fees and Services 69 PART IV Item 15. Exhibits, Financial Statement Schedules 70 Item 16. Form 10-K Summary 72

Signatures

Signatures 73 NOTE ABOUT FORWARD-LOOKING STATEMENT S This Annual Report on Form 10-K ("Form 10-K") contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Many of the forward-looking statements are located in Part, Item 7 of this Form 10-K under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could" and similar expressions. Examples of forward-looking statements include, without limitation: regarding our growth and other strategies, results of operations or liquidity; concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; regarding our industry; of management's goals and objectives; regarding laws, regulations, and policies relevant to our business; projections of revenue, earnings, capital structure and other financial items; assumptions underlying statements regarding us or our business; and other similar expressions concerning matters that are not historical facts. Forward-looking times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time those statements are made or management's good faith belief as of that time with respect to

Risk Factors

Risk Factors Our business is subject to a number of risks, including risks that may prevent us from achieving our business objectives or may materially and adversely affect our business, financial condition, results of operations, cash flows and prospects. These risks are discussed more fully in Item 1A. Risk Factors herein. These risks include, but are not limited to, the following: Global economic conditions, including inflation and supply chain disruptions, could materially and adversely our business, prospects, results of operations, financial condition or cash flows. A significant percentage of our revenue is dependent on sales of products from a relatively small number of key suppliers, and a decline in sales of products from these suppliers could materially harm our business. We do not have long-term agreements or guaranteed price or delivery arrangements with most of our suppliers. The loss of a significant supplier would require us to rely more heavily on our other existing suppliers or to develop relationships with new suppliers. Such a loss may have an adverse effect on our product offerings and our business. We are vulnerable to third-party transportation risks, including governmental laws and common carriers' policies that prevent the shipment of the types of products we sell. If we are unable to successfully execute our on our liquidity and strategic initiatives, we may have significant cash constraints, which would have a material and adverse impact on our business and results of operations and ability to pay our debts as they come due. Complications and disruptions associated with the design and implementation of our new ERP system have occurred and could adversely impact our business and operations in the future. We may be required to seek additional financing sources, which may not be available to us on attractive terms if at all and could restrict our ability to engage in important business activities. While we believe that our b

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