Cannabis Earnings: Greenlane Posts Record Q3 Revenue Of $41.3M, Up By 16% YoY

Greenlane Holdings, Inc. (NASDAQ: GNLN) reported financial results Monday for the third quarter ended September 30, 2021, revealing revenue of $41.3 million, up by 16% from $35.8 million in the same period year ago. 

Q3 Financial Summary 

  • Gross profit was $122,000, compared to $2.47 million in the third quarter of 2020; Gross margin was 0.3%, versus 6.9% in the corresponding quarter of the previous year;
  • Net loss amounted to $28.72 million, which compares to $13.8 million in the same period of last year; 
  • Adjusted EBITDA was a loss of $6.94 million, versus $6.28 million in the third quarter of the prior year; 
  • At the end of the reporting period on Sep. 30, Greenlane held $13.2 million in cash and $70.8 million in working capital.

Recent Highlights

  • Achieved second-highest sales level in company history for Greenlane Brands, which grew to $8.4 …

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More Cannabis Earnings: Greenlane Posts Record Q3 Revenue Of $41.3M, Up By 16% YoY