GNLN · Greenlane Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $4.36M | $13.28M | $65.37M | $137.09M | $166.06M | $138.30M |
| Cost of Revenue | $16.82M | $6.99M | $47.55M | $112.10M | $138.38M | $115.54M |
| Gross Profit | ($12.46M) | $6.28M | $17.83M | $24.98M | $27.68M | $22.77M |
| R&D | - | - | - | - | - | - |
| SG&A | $10.65M | $9.76M | $24.21M | $41.00M | $41.70M | $35.31M |
| Total Operating Expenses | $41.78M | $18.10M | $43.91M | $152.72M | $80.40M | $71.74M |
| D&A | $493.0K | $800.0K | $2.24M | $9.07M | $4.69M | $2.52M |
| Operating Income | ($54.25M) | ($11.81M) | ($26.08M) | ($127.73M) | ($52.72M) | ($48.98M) |
| Interest Expense | $394.0K | $5.94M | $5.45M | $2.45M | $574.0K | $437.0K |
| Income Tax | $7.0K | - | - | ($13.0K) | $10.0K | $194.0K |
| Net Income | ($85.58M) | ($17.64M) | ($32.17M) | ($115.76M) | ($30.58M) | ($14.52M) |
| EPS - Basic | ($91.36) | ($87360.00) | ($538560.00) | ($10144200.00) | ($16104000.00) | - |
| EPS - Diluted | ($91.36) | ($87360.00) | ($538560.00) | ($10144200.00) | ($16104000.00) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $32.51M | $899.0K | $463.0K | $6.46M | $12.86M | $30.43M |
| Accounts Receivable | $1.57M | $4.26M | $1.69M | $6.47M | $14.69M | $6.33M |
| Inventory | $14.50M | $14.21M | $20.53M | $40.64M | $66.98M | $36.06M |
| Accounts Payable | $5.41M | $9.79M | $12.10M | $14.95M | $23.04M | $18.41M |
| Current Assets | $36.09M | $23.77M | $29.77M | $76.70M | $124.74M | $96.08M |
| Total Assets | $74.93M | $28.63M | $38.09M | $146.05M | $285.83M | $122.65M |
| Current Liabilities | $7.21M | $22.27M | $26.09M | $35.66M | $70.97M | $41.86M |
| Long-term Debt | - | $7.67M | $7.28M | $13.04M | $10.61M | $7.84M |
| Total Liabilities | $7.21M | $22.35M | $27.10M | $50.69M | $89.46M | $53.39M |
| Stockholders' Equity | $67.87M | $6.43M | $11.12M | $95.36M | $174.53M | $15.06M |
| Retained Earnings | ($360.51M) | ($274.93M) | ($257.29M) | ($171.37M) | ($55.54M) | ($24.85M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($16.26M) | ($6.75M) | ($1.79M) | ($26.43M) | ($37.33M) | ($12.30M) |
| Investing Cash Flow | ($8.26M) | ($244.0K) | $30.0K | $12.03M | ($19.69M) | ($4.14M) |
| Financing Cash Flow | $56.13M | $7.43M | ($10.14M) | $13.93M | $38.96M | ($1.06M) |
| CapEx | $98.0K | $244.0K | $1.01M | $2.78M | $4.40M | $1.79M |
| Free Cash Flow | ($16.36M) | ($6.99M) | ($2.80M) | ($29.21M) | ($41.73M) | ($14.09M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2019 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | -286.2% | 47.3% | 27.3% | 18.2% | 16.7% | 16.5% |
| Operating margin | -1245.6% | -89.0% | -39.9% | -93.2% | -31.7% | -35.4% |
| EBITDA margin | -1234.3% | -83.0% | -36.5% | -86.6% | -28.9% | -33.6% |
| Net margin | -1965.1% | -132.9% | -49.2% | -84.4% | -18.4% | -10.5% |
| Free cash flow margin | -375.6% | -52.7% | -4.3% | -21.3% | -25.1% | -10.2% |
| FCF / Net income | 0.19 | 0.40 | 0.09 | 0.25 | 1.36 | 0.97 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 244.5% | 73.6% | 37.0% | 29.9% | 25.1% | 25.5% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -114.2% | -61.6% | -84.5% | -79.3% | -10.7% | -11.8% |
| Return on equity | -126.1% | -274.3% | -289.2% | -121.4% | -17.5% | -96.4% |
| Return on invested capital | - | - | - | -93.1% | -22.5% | -168.9% |
| Liquidity | ||||||
| Current ratio | 5.01 | 1.07 | 1.14 | 2.15 | 1.76 | 2.30 |
| Quick ratio | 3.00 | 0.43 | 0.35 | 1.01 | 0.81 | 1.43 |
| Cash ratio | 4.51 | 0.04 | 0.02 | 0.18 | 0.18 | 0.73 |
| Leverage | ||||||
| Debt / Equity | - | 1.19 | 0.65 | 0.14 | 0.06 | 0.52 |
| Debt / Assets | - | 0.27 | 0.19 | 0.09 | 0.04 | 0.06 |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -137.7x | -2.0x | -4.8x | -52.1x | -91.9x | -112.1x |
| Equity multiplier | 1.10 | 4.45 | 3.42 | 1.53 | 1.64 | 8.14 |
| Liabilities / Assets | 0.10 | 0.78 | 0.71 | 0.35 | 0.31 | 0.44 |
| Efficiency | ||||||
| Asset turnover | 0.06 | 0.46 | 1.72 | 0.94 | 0.58 | 1.13 |
| Inventory turnover | 1.16 | 0.49 | 2.32 | 2.76 | 2.07 | 3.20 |
| Days sales outstanding | 132d | 117d | 9d | 17d | 32d | 17d |
| Days inventory outstanding | 315d | 742d | 158d | 132d | 177d | 114d |
| Days payable outstanding | 117d | 511d | 93d | 49d | 61d | 58d |
| Cash conversion cycle | 329d | 348d | 74d | 101d | 148d | 72d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 1.4x | 1865.8x | 12271.9x | 15011.8x | 871053.3x | - |
| P / S | 21.6x | 903.9x | 2088.2x | 10442.4x | 915471.4x | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -67.2% | -79.7% | -52.3% | -17.4% | - | - |
| Revenue CAGR (3y) | -68.3% | -56.9% | - | -0.3% | - | - |
| Revenue CAGR (5y) | - | -37.4% | - | - | - | - |
| Gross profit growth (YoY) | - | -64.8% | -28.6% | -9.7% | - | - |
| Operating income growth (YoY) | -359.1% | 54.7% | 79.6% | -142.3% | - | - |
| Net income growth (YoY) | -385.1% | 45.2% | 72.2% | -278.5% | - | - |
| EPS growth (YoY) | 99.9% | 83.8% | 94.7% | 37.0% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -133.9% | -149.8% | 90.4% | 30.0% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 955.4% | -42.2% | -88.3% | -45.4% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$4.36M totalUS$4.35M · 99.9%
CA$4.0K · 0.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-2.03
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Wholesale-Durable Goods, NEC
Comparing Greenlane Holdings against the 2 most active filers in the same SIC group.