Greenlane Holdings, Inc. Files 10-Q for Period Ending September 30, 2023
Ticker: GNLN · Form: 10-Q · Filed: Jan 9, 2024 · CIK: 1743745
Complexity: simple
Sentiment: neutral
Topics: 10-Q, Greenlane Holdings, Financial Report, Q3 2023, SEC Filing
TL;DR
<b>Greenlane Holdings, Inc. filed its Q3 2023 10-Q report on January 9, 2024.</b>
AI Summary
Greenlane Holdings, Inc. (GNLN) filed a Quarterly Report (10-Q) with the SEC on January 9, 2024. Greenlane Holdings, Inc. filed a 10-Q report for the period ending September 30, 2023. The filing covers the third quarter of 2023. The company's fiscal year ends on December 31st. The filing was submitted on January 9, 2024. Greenlane Holdings, Inc. is incorporated in Delaware.
Why It Matters
For investors and stakeholders tracking Greenlane Holdings, Inc., this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and position as of the end of the third quarter of 2023. The detailed financial information within the report is crucial for understanding the company's operational results, cash flows, and any changes in its balance sheet during the reporting period.
Risk Assessment
Risk Level: low — Greenlane Holdings, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant new disclosures that would suggest high risk.
Analyst Insight
Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess Greenlane Holdings' performance and outlook.
Key Numbers
- 2023-09-30 — Period End Date (Conformed Period of Report)
- 2024-01-09 — Filing Date (Filed as of Date)
- 1231 — Fiscal Year End (Fiscal Year End)
- 001-38875 — SEC File Number (SEC File Number)
Key Players & Entities
- Greenlane Holdings, Inc. (company) — Filer name
- 0001743745 (company) — Central Index Key
- DE (company) — State of Incorporation
- 20230930 (date) — Period of Report
- 20240109 (date) — Filed as of date
- BOCA RATON (company) — Business Address City
- FL (company) — Business Address State
- 877-292-7660 (company) — Business Phone
FAQ
When did Greenlane Holdings, Inc. file this 10-Q?
Greenlane Holdings, Inc. filed this Quarterly Report (10-Q) with the SEC on January 9, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Greenlane Holdings, Inc. (GNLN).
Where can I read the original 10-Q filing from Greenlane Holdings, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Greenlane Holdings, Inc..
What are the key takeaways from Greenlane Holdings, Inc.'s 10-Q?
Greenlane Holdings, Inc. filed this 10-Q on January 9, 2024. Key takeaways: Greenlane Holdings, Inc. filed a 10-Q report for the period ending September 30, 2023.. The filing covers the third quarter of 2023.. The company's fiscal year ends on December 31st..
Is Greenlane Holdings, Inc. a risky investment based on this filing?
Based on this 10-Q, Greenlane Holdings, Inc. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant new disclosures that would suggest high risk.
What should investors do after reading Greenlane Holdings, Inc.'s 10-Q?
Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess Greenlane Holdings' performance and outlook. The overall sentiment from this filing is neutral.
How does Greenlane Holdings, Inc. compare to its industry peers?
Greenlane Holdings, Inc. operates within the wholesale durable goods sector, specifically focusing on products related to the cannabis and vaping industries.
Are there regulatory concerns for Greenlane Holdings, Inc.?
The filing is a standard 10-Q, which is a quarterly report required by the SEC for public companies to provide updates on their financial condition.
Industry Context
Greenlane Holdings, Inc. operates within the wholesale durable goods sector, specifically focusing on products related to the cannabis and vaping industries.
Regulatory Implications
The filing is a standard 10-Q, which is a quarterly report required by the SEC for public companies to provide updates on their financial condition.
What Investors Should Do
- Analyze the financial statements for revenue, net income, and cash flow trends.
- Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
- Check for any new risk factors or legal proceedings disclosed in the report.
Key Dates
- 2023-09-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
- 2024-01-09: Filing Date — Date the 10-Q report was officially filed with the SEC.
Year-Over-Year Comparison
This is the 10-Q filing for the period ending September 30, 2023. A comparison to the previous filing (likely a 10-Q for Q2 2023 or 10-K for FY 2022) would be necessary to identify changes.
Filing Stats: 4,980 words · 20 min read · ~17 pages · Grade level 19.5 · Accepted 2024-01-09 17:26:00
Key Financial Figures
- $0.01 — which registered Class A Common Stock, $0.01 par value per share GNLN Nasdaq Global
Filing Documents
- gnln-20230930.htm (10-Q) — 1537KB
- loansecurityandpledgeagree.htm (EX-10.3) — 324KB
- securedpromissorynotesyner.htm (EX-10.4) — 75KB
- gnln-2023930xexx311.htm (EX-31.1) — 10KB
- gnln-2023930xexx312.htm (EX-31.2) — 10KB
- gnln-2023930xexx321.htm (EX-32.1) — 6KB
- image_0.jpg (GRAPHIC) — 6KB
- image_1a.jpg (GRAPHIC) — 0KB
- image_2a.jpg (GRAPHIC) — 0KB
- image_5.jpg (GRAPHIC) — 6KB
- 0001743745-24-000022.txt ( ) — 8121KB
- gnln-20230930.xsd (EX-101.SCH) — 43KB
- gnln-20230930_cal.xml (EX-101.CAL) — 85KB
- gnln-20230930_def.xml (EX-101.DEF) — 256KB
- gnln-20230930_lab.xml (EX-101.LAB) — 565KB
- gnln-20230930_pre.xml (EX-101.PRE) — 412KB
- gnln-20230930_htm.xml (XML) — 1063KB
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 5 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 10
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 42
Controls and Procedures
Item 4. Controls and Procedures 42 PART II Other Information
Legal Proceedings
Item 1. Legal Proceedings 43
Risk Factors
Item 1A. Risk Factors 43
Unregistered Sales of Equity Securities and Use of Proceeds , and Issuer Purchases of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds , and Issuer Purchases of Equity Securities 35
Other Information
Item 5. Other Information 36
Exhibits
Item 6. Exhibits 45 Signatures 46 PART I
FINANCIAL STATEMENTS (UNAUDITED)
ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) GREENLANE HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value per share amounts) September 30, 2023 December 31, 2022 (Unaudited) ASSETS Current assets Cash $ 2,443 $ 6,458 Restricted cash — 5,718 Accounts receivable, net of allowance of $ 4,208 and $ 4,826 at September 30, 2023 and December 31, 2022, respectively 1,925 6,468 Inventories, net 22,638 40,643 Vendor deposits 3,351 6,296 Other current assets (Note 8) 7,152 11,120 Total current assets 37,509 76,703 Property and equipment, net 3,237 3,962 Operating lease right-of-use assets 2,163 3,442 Other assets 5,539 5,578 Total assets $ 48,448 $ 89,685 LIABILITIES Current liabilities Accounts payable $ 11,909 $ 14,953 Accrued expenses and other current liabilities (Note 8) 9,396 11,882 Customer deposits 2,410 3,983 Current portion of notes payable (Note 6) 6,978 3,185 Current portion of operating leases 898 1,528 Current portion of finance leases 128 128 Total current liabilities 31,719 35,659 Notes payable, less current portion and debt issuance costs, net (Note 6) — 13,040 Operating leases, less current portion 1,238 1,887 Finance leases, less current portion — 29 Other liabilities 80 79 Total long-term liabilities 1,318 15,035 Total liabilities 33,037 50,694 Commitments and contingencies (Note 7) STOCKHOLDERS' EQUITY* Preferred stock, $ 0.0001 par value, 10,000 shares authorized, none issued and outstanding — — Class A common stock, $ 0.01 par value per share, 600,000 shares authorized; 3,448 shares issued and outstanding as of September 30, 2023; 1,599 shares issued and outstanding as of December 31, 2022* 33 15 Class B common stock, $ 0.0001 par value per share, 30,000 shares authorized; 0 shares issued and outstanding as of September 30, 2023; 0 shares issued and outstanding as of December 31, 2022* — — Additional paid-in capital* 268,105 264,017 Accumulated deficit ( 252,956 ) ( 225,114 )