Greenlane Q2 revenue down 18% sequentially to $19.6M; net loss per share $6.56

Greenlane Holdings, Inc.

2023-Q2 EPS reported -$12.96 vs consensus -$283417.20 ▲ beat (+100.0%)

Revenue $19.6M, down 18.1% from Q1; net loss attributable $10.5M ($6.56/share) vs $10.2M ($6.40/share) in Q1.
Adjusted EBITDA loss improved to $5.8M from $6.8M in Q1; operating expenses reduced 6.2% sequentially.
Cash and restricted cash fell to $4.65M from $5.87M in Q1; company targeted Q4 2023 profitability.
Paid off $15M Whitehawk facility; expanded into disposable nicotine with brands like Fume and Tyson 2.0.
Facility consolidation expected to save >$4M annually; launched five new products from house brands.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Greenlane Holdings, Inc. reported the second quarter ended June 30, 2023 results: revenue $19.6 million, net income $10.5 million, EPS $6.56 per share.

Period: the second quarter ended June 30, 2023
Revenue: $19.6 million
Net income: $10.5 million
EPS: $6.56 per share
Result: reported results

Exact text from the filing

and specialty vaporization products, today reported financial results for the second quarter ended June 30 th , 2023. Recent Highlights • Revenue for Q2 2023 decreased to $19.6 million, compared to $24.0 million in Q1 2023. • Operating expenses in Q2 2023 were reduced $0.9 million or 6.2% compared with Q1 2023. • Net loss attributed to Greenlane Holdings, Inc.

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Greenlane Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001743745-23-000058

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