Greenlane Holdings Inc
GNLN
Greenlane Holdings Inc AI Insights
Informational only. Not investment advice.Snapshot
- Gross margin TTM is -78%, meaning cost of revenue (8.3M) exceeds total revenue (4.7M) by 78%—business loses money on every sale.[Gross Margin TTM]
- Revenue collapsed 82% YoY and 70% over 3Y. At 4.7M TTM vs industry median 274M, scale is critically insufficient.[Total Revenue 1Y Growth]
- Cash burn of 13.5M FCF TTM against 1.8M cash leaves ~1.6 months runway without financing or asset sales.[Free Cash Flow TTM]
Watch Triggers
- Cash and Equivalents: Falls below 1M or new financing announced — Signals weeks to insolvency or dilutive rescue
- Gross Margin TTM: Turns positive — Would indicate fundamental business model fix—currently impossible to scale
- Total Revenue TTM: Stabilizes or grows QoQ — 82% YoY decline must reverse for any recovery thesis
Bull Case
Trading at 0.18x book value (11.2M equity vs 2M market cap) offers deep value if turnaround or acquirer emerges. Minimal debt (0.03 D/E).
Working capital of 7.7M and tangible book of 11.2M provide asset base for liquidation or restructuring scenarios.
Bear Case
Negative gross margins (-78%) mean the core business is structurally broken—no path to profitability without complete model overhaul.
1.8M cash with 13.5M annual burn = ~7 weeks runway. Dilution or bankruptcy appears imminent without intervention.
Bull vs Bear Balance
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Forward Thesis
Without immediate capital raise or strategic sale, GNLN faces insolvency within 6 months.
- 1.8M cash vs 13.5M annual burn rate
- Negative gross margins prevent organic recovery
- No financing activity in latest period
Valuation Context
Caveats
Public Strategies Rankings
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GNLN Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$1.94M | — | ||
$451,171 | — | ||
0.00 | — | ||
$4.65M | -78.5% | — | |
$-4,091.66 | — | ||
-404% | -353.4% | — | |
-533% | -471.7% | — | |
$-13.47M | — | ||
-2.4 | -134.3% | — | |
Beta 5Y (Monthly) | unknown | — |
GNLN Dividend History
GNLN Stock Splits
GNLN SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/14/25 | 09/30/25 | 10-Q | |
08/14/25 | 06/30/25 | 10-Q | |
05/15/25 | 03/31/25 | 10-Q | |
03/21/25 | 12/31/24 | 10-K | |
11/14/24 | 09/30/24 | 10-Q | |
08/14/24 | 06/30/24 | 10-Q | |
07/25/24 | 03/31/24 | 10-Q | |
07/19/24 | 12/31/23 | 10-K | |
01/09/24 | 09/30/23 | 10-Q | |
08/14/23 | 06/30/23 | 10-Q | |
05/15/23 | 03/31/23 | 10-Q | |
03/31/23 | 12/31/22 | 10-K | |
11/14/22 | 09/30/22 | 10-Q | |
01/08/24 | 06/30/22 | 10-Q/A | |
08/15/22 | 06/30/22 | 10-Q | |
05/16/22 | 03/31/22 | 10-Q | |
01/08/24 | 03/31/22 | 10-Q/A | |
01/05/24 | 12/31/21 | 10-K/A | |
03/31/22 | 12/31/21 | 10-K | |
11/15/21 | 09/30/21 | 10-Q | |
08/16/21 | 06/30/21 | 10-Q | |
05/17/21 | 03/31/21 | 10-Q | |
03/31/21 | 12/31/20 | 10-K | |
11/16/20 | 09/30/20 | 10-Q | |
08/11/20 | 06/30/20 | 10-Q | |
06/09/20 | 03/31/20 | 10-Q | |
04/24/20 | 12/31/19 | 10-K | |
11/12/19 | 09/30/19 | 10-Q | |
08/13/19 | 06/30/19 | 10-Q | |
05/09/19 | 03/31/19 | 10-Q | |
04/22/19 | 12/31/18 | 424B4 | |
11/12/19 | 09/30/18 | 10-Q | |
08/13/19 | 06/30/18 | 10-Q | |
05/09/19 | 03/31/18 | 10-Q |