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Greenlane (GNLN) investor relations material
Greenlane Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 2025 net sales were $0.8M, down 70% year-over-year, with a net loss of $3.2M and operating loss of $3.3M; sales team restructuring and a shift to a commission structure impacted results.
The company executed significant cost reductions, restructured its sales team, and launched new marketing and distribution partnerships, including with Cannabis Creative Group, to drive future growth.
February 2025 private placement raised $25M, used to repay all outstanding debt and improve liquidity.
Early signs of recovery post-quarter include significant new customer revenue growth and account reactivations.
Management believes current cash and recent fundraising will fund operations for the next 12 months, but continued losses and negative cash flow raise going concern risks.
Financial highlights
Q2 2025 net sales: $0.8M (down from $2.6M–$2.7M in Q2 2024); six-month sales: $2.3M (down from $7.6M year-over-year).
Gross margin for Q2 2025 was 0–0.3% (down from 38% in Q2 2024); six-month gross margin was 32% (down from 33%).
Net loss for Q2 2025 was $3.2M, compared to $0.6M in Q2 2024; net loss per share for Q2 2025 was $(3.18) (post-reverse split adjustment).
Cash as of June 30, 2025: $5.7M; working capital: $16.3M.
Operating cash flow for six months ended June 30, 2025: $(7.9)M; financing activities provided $12.8M.
Outlook and guidance
Management expects current liquidity, including proceeds from the February 2025 private placement, to be sufficient for the next 12 months.
Anticipates a stronger second half of 2025, supported by new sales leadership, product launches, and improved customer acquisition.
Plans include further cost reductions, new product launches, strategic partnerships, and potential additional capital raises.
Ongoing focus on profitability and working capital preservation amid challenging market conditions.
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