Greenlane Holdings Files Q1 2024 10-Q
Ticker: GNLN · Form: 10-Q · Filed: Jul 25, 2024 · CIK: 1743745
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Greenlane Holdings filed its Q1 2024 10-Q. Financials inside.
AI Summary
Greenlane Holdings, Inc. filed its 10-Q for the period ending March 31, 2024. The filing details the company's financial position and operations. Specific financial figures and operational details are not provided in this header information, but the report covers the first quarter of 2024.
Why It Matters
This filing provides investors with an update on Greenlane Holdings' financial performance and operational status for the first quarter of 2024, crucial for assessing the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information which can reveal significant risks or opportunities, but the provided header lacks specific financial performance data to assess the immediate risk.
Key Numbers
- Q1 2024 — Reporting Period (Covers the first three months of 2024.)
- 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)
Key Players & Entities
- Greenlane Holdings, Inc. (company) — Filer of the 10-Q
- 0001743745 (company) — Central Index Key for Greenlane Holdings, Inc.
- 20240331 (date) — End of the reporting period
- 20240725 (date) — Filing date
FAQ
What is the primary business of Greenlane Holdings, Inc.?
Greenlane Holdings, Inc. is classified under 'WHOLESALE-DURABLE GOODS, NEC [5099]' according to its SIC code.
What is the filing date of this 10-Q report?
This 10-Q report was filed on July 25, 2024.
For which period is this 10-Q filing reporting?
This 10-Q filing is for the period ending March 31, 2024.
Where is Greenlane Holdings, Inc. headquartered?
Greenlane Holdings, Inc. is located at 1095 Broken Sound Parkway, Suite 100, Boca Raton, FL 33487.
What is the SEC file number for Greenlane Holdings, Inc.?
The SEC file number for Greenlane Holdings, Inc. is 001-38875.
Filing Stats: 4,749 words · 19 min read · ~16 pages · Grade level 16.7 · Accepted 2024-07-24 21:34:45
Filing Documents
- form10-q.htm (10-Q) — 1136KB
- ex31-1.htm (EX-31.1) — 16KB
- ex31-2.htm (EX-31.2) — 17KB
- ex32-1.htm (EX-32.1) — 8KB
- 0001493152-24-028996.txt ( ) — 5760KB
- gnln-20240331.xsd (EX-101.SCH) — 39KB
- gnln-20240331_cal.xml (EX-101.CAL) — 63KB
- gnln-20240331_def.xml (EX-101.DEF) — 195KB
- gnln-20240331_lab.xml (EX-101.LAB) — 319KB
- gnln-20240331_pre.xml (EX-101.PRE) — 284KB
- form10-q_htm.xml (XML) — 792KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Loss 4 Condensed Consolidated Statements of Stockholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 36 PART II Other Information Item 1.
Legal Proceedings
Legal Proceedings 37 Item 1A.
Risk Factors
Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds, and Issuer Purchases of Equity Securities 38 Item 5. Other Information 38 Item 6. Exhibits 39
Signatures
Signatures 40 2 PART I ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) GREENLANE HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except par value per share amounts) March 31, 2024 December 31, 2023 (unaudited) ASSETS Current assets Cash $ 157 $ 463 Accounts receivable, net of allowance of $ 2,202 and $ 2,209 at March 31, 2024 and December 31, 2023, respectively 1,756 1,693 Inventories, net 18,320 20,529 Vendor deposits 3,960 3,765 Other current assets (Note 8) 2,741 3,319 Total current assets 26,934 29,769 Property and equipment, net 2,358 2,476 Operating lease right-of-use assets 1,727 1,936 Other assets 4,044 3,912 Total assets $ 35,063 $ 38,093 LIABILITIES Current liabilities Accounts payable $ 12,909 $ 12,103 Accrued expenses and other current liabilities (Note 8) 3,920 3,056 Customer deposits 2,775 2,775 Current portion of notes payable 7,202 7,283 Current portion of operating leases 886 866 Current portion of finance leases — 7 Total current liabilities 27,692 26,090 Operating leases, less current portion 782 1,010 Other liabilities — 1 Total long-term liabilities 782 1,011 Total liabilities 28,474 27,101 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, 4,324 shares issued and outstanding as of March 31, 2024; 600,000 shares authorized, 3,726 shares issued and outstanding as of December 31, 2023 42 36 Class B common stock, $ 0.0001 par value per share, 30,000 shares authorized, and 0 shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Common stock, value — — Additional paid-in capital 268,212 268,132 Accumulated deficit ( 261,780 ) ( 257,289 ) Accumulated other comprehensive income 247 245 Total