Greenlane (GNLN) investor relations material

Greenlane Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Q3 2025 earnings summary14 Nov, 2025

Executive summary

  • Net sales for Q3 2025 were $0.74M, down 82% year-over-year, with a net loss of $8.9M for the quarter and $16.0M for the nine months ended September 30, 2025.

  • The company completed a $110M private placement post-quarter, shifting to a digital asset treasury strategy focused on BERA tokens.

  • Management is executing cost reductions, inventory monetization, and strategic alternatives for the legacy distribution business.

  • Built a leadership team including Bruce Linton as Chairman and Ben Isenberg as Chief Investment Officer to oversee the digital asset strategy.

Financial highlights

  • Q3 2025 net sales: $0.74M (vs. $4.0M in Q3 2024); nine months: $3.0M (vs. $11.6M in 2024).

  • Gross margin for Q3 2025 was (692)%, impacted by a $5.0M non-cash inventory reserve.

  • Operating expenses for Q3 2025 were $4.0M, including $0.5M in restructuring costs.

  • Cash at September 30, 2025: $1.8M; all debt repaid in February 2025.

  • Net loss for Q3 2025 was $8.9M, compared to $3.8M in the prior year period.

Outlook and guidance

  • Management expects sufficient liquidity for at least 12 months post-private placement, but execution risks remain.

  • Focus areas: further cost reductions, inventory monetization, digital asset treasury execution, and potential capital raising.

  • Plans to manage BERA tokens for yield generation and long-term value as BERA adoption grows.

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Greenlane Holdings, Inc. engages in the marketing and distribution of premium products, consumables, and services for the global cannabis industry. It sells its products in the United States, Canada, Europe, Australia, and South America. Greenlane Holdings, Inc., together with its subsidiaries, sells cannabis accessories and vaporization products

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