GNLN Nasdaq Wholesale-Durable Goods, Nec Financials FY2018βFY2025
Greenlane Holdings, Inc. had $4.4M of revenue in fiscal 2025, down 67.2% on the year before. Over five years, revenue changed β49.9% a year on average.
Last close Β· Oct 23, 2026
$1.92
3.5%Hi! I read Greenlane Holdings, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β67.2%
No. Sales fell 67.2% last year.
Does it make a profit?
β1,965.1%
No. It lost money last year.
Does profit turn into cash?
β375.6%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 8
Weak. It passes 2 of 8 health tests.
How is the share priced?
0.3x
One share costs 0.3 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Greenlane Holdings, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 13, 2026
Friday Β· in 18 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 14, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 15, 2026 | Q1 '26 | After the market closes | 8-K β |
| Mar 31, 2026 | Q4 '25 | After the market closes | 10-K β |
| Nov 14, 2025 | Q3 '25 | After the market closes | 8-K β |
| Aug 14, 2025 | Q2 '25 | After the market closes | 10-Q β |
| May 15, 2025 | Q1 '25 | After the market closes | 10-Q β |
| Mar 21, 2025 | Q4 '24 | Time not announced | 10-K β |
| Nov 14, 2024 | Q3 '24 | After the market closes | 10-Q β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Greenlane Holdings, Inc. had $4.4M of revenue in fiscal 2025, down 67.2% on the year before. Over five years, revenue changed β49.9% a year on average. Its operating margin was β1,245.6%, down 1,156.6Β pts: of every 100 in sales, about β1,246 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Greenlane Holdings, Inc. lost $85.6M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$16.4M in fiscal 2025, β375.6% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Greenlane Holdings, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $12.9M | $6.5M | $0.5M | $0.9M | $32.5M |
| Debt incl. finance leases | $22.8M | $18.2M | $7.3M | $7.7M | β |
| Debt / equity | 0.1x | 0.5x | 0.7x | 1.2x | β |
| Interest coverage | β91.9x | β75.1x | β4.8x | β2.0x | β137.7x |
| Current ratio | 1.8x | 2.2x | 1.1x | 1.1x | 5.0x |
| Quick ratio | 0.8x | 1.0x | 0.4x | 0.4x | 5.0x |
| Total assets | $286M | $89.7M | $38.1M | $28.6M | $74.9M |
| Total liabilities | $89.5M | $50.7M | $27.1M | $22.3M | $7.2M |
| Shareholders' equity | $175M | $39.0M | $11.1M | $6.4M | $67.9M |
| Net debt (β = net cash) | $9.9M | $11.7M | $6.8M | $6.8M | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Greenlane Holdings, Inc. passes 2 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 2 / 8 | 2 / 9 | 3 / 9 | 4 / 9 | 6 / 9 | 3 / 9 | 2 / 8 |
| Accruals ratio | 9.9% | 7.0% | β1.6% | 3.3% | β76.2% | β47.6% | β32.6% | β133.9% |
| Altman Z'' | 1.88 | 3.10 | β0.15 | 1.41 | β18.17 | β25.56 | β33.43 | β8.13 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $179M | $185M | $138M | $166M | $137M | $65.4M | $13.3M | $4.4M |
| Gross profit | $35.7M | $31.1M | $22.8M | $33.9M | $25.0M | $17.8M | $6.3M | β$12.5M |
| Operating income | β$2.5M | β$24.9M | β$49.0M | β$52.7M | β$184M | β$26.1M | β$11.8M | β$54.2M |
| Interest expense | $3.2M | $1.0M | $0.4M | $0.6M | $2.5M | $5.5M | $5.9M | $0.4M |
| Pretax income | β$5.6M | β$28.9M | β$47.5M | β$53.4M | β$182M | β$32.3M | β$17.7M | β$85.6M |
| Income tax | $0.3M | $10.9M | $0.2M | $0.0M | β$0.0M | β | β | $0.0M |
| Net income | β$5.9M | β$28.8M | β$14.5M | β$30.6M | β$170M | β$32.2M | β$17.6M | β$85.6M |
| Net income to common | β$5.1M | β | β$14.5M | β$30.6M | β$170M | β | β | β |
| Diluted EPS | β | β$0.96 | β$1.22 | β$15.85 | β$22.51 | β$8.16 | β$14.56 | β$11.42 |
| Diluted shares | β | 0.01B | 0.01B | 0.00B | 0.00B | 0.00B | 0.00B | 0.01B |
| Cash flow | ||||||||
| Cash from operations | β$13.6M | β$36.9M | β$12.3M | β$37.3M | β$26.4M | β$1.8M | β$6.8M | β$16.3M |
| Capital expenditure | $10.9M | $2.0M | $1.8M | $4.4M | $2.8M | $1.0M | $0.2M | $0.1M |
| Free cash flow | β$24.5M | β$38.9M | β$14.1M | β$41.7M | β$29.2M | β$2.8M | β$7.0M | β$16.4M |
| Depreciation and amortization | $1.5M | $2.7M | $2.5M | $4.7M | $7.4M | $2.2M | $0.8M | $0.5M |
| Stock-based compensation | $4.1M | $8.0M | $0.9M | $5.7M | $2.3M | $0.3M | $0.1M | $4.6M |
| Acquisitions | β$0.8M | $1.2M | $1.8M | $15.6M | $0.0M | β | β | β |
| Share buybacks | β | $0.5M | β | β | β | β | β | β |
| Dividends and buybacks | β | $0.5M | β | β | β | β | β | β |
| Balance sheet | ||||||||
| Cash and short-term investments | $7.3M | $47.8M | $30.4M | $12.9M | $6.5M | $0.5M | $0.9M | $32.5M |
| Total debt | $48.7M | $8.3M | $8.1M | $22.6M | $18.2M | $7.3M | $7.7M | β |
| Finance lease liabilities | β | $0.3M | $0.4M | $0.2M | β | β | β | β |
| Current assets | $57.1M | $115M | $96.1M | $125M | $76.7M | $29.8M | $23.8M | $36.1M |
| Current liabilities | $30.4M | $26.3M | $41.9M | $71.0M | $35.7M | $26.1M | $22.3M | $7.2M |
| Inventory | $29.5M | $43.1M | $36.1M | $67.0M | $40.6M | $20.5M | $14.2M | β |
| Property and equipment, net | $11.6M | $13.2M | $12.2M | β | $4.0M | $2.5M | $1.4M | $0.3M |
| Goodwill | $5.4M | $12.0M | $3.3M | $41.9M | $0.0M | β | β | β |
| Intangible assets | $3.7M | $6.3M | $5.9M | $84.7M | $0.0M | β | β | β |
| Total assets | $78.0M | $153M | $123M | $286M | $89.7M | $38.1M | $28.6M | $74.9M |
| Total liabilities | $79.0M | $38.9M | $53.4M | $89.5M | $50.7M | $27.1M | $22.3M | $7.2M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | β | β | β |
| Shareholders' equity | β$11.1M | $22.4M | $15.1M | $175M | $39.0M | $11.1M | $6.4M | $67.9M |
| Margins | ||||||||
| Gross margin | 20.0% | 16.8% | 16.5% | 20.4% | 18.2% | 27.3% | 47.3% | β286.2% |
| Operating margin | β1.4% | β13.5% | β35.4% | β31.7% | β134.3% | β39.9% | β89.0% | β1,245.6% |
| EBITDA margin | β0.6% | β12.0% | β33.6% | β28.9% | β128.9% | β36.5% | β83.0% | β1,234.3% |
| Net margin | β3.3% | β15.6% | β10.5% | β18.4% | β123.7% | β49.2% | β132.9% | β1,965.1% |
| FCF margin | β13.7% | β21.0% | β10.2% | β25.1% | β21.3% | β4.3% | β52.7% | β375.6% |
| Returns | ||||||||
| Return on capital | β6.5% | β | β | β22.6% | β286.9% | β114.8% | β70.7% | β |
| Return on capital employed | β5.2% | β19.6% | β60.6% | β24.5% | β340.8% | β217.3% | β185.6% | β80.1% |
| Return on equity | β | β507.5% | β77.5% | β32.3% | β158.8% | β128.5% | β201.0% | β230.4% |
| Return on assets | β7.5% | β24.9% | β10.5% | β15.0% | β90.3% | β50.4% | β52.9% | β165.3% |
| Return on tangible equity | β | β697.2% | β248.6% | β63.8% | β434.9% | β289.2% | β274.3% | β126.1% |
| Growth | ||||||||
| Revenue growth | β | 3.4% | β25.2% | 20.1% | β17.4% | β52.3% | β79.7% | β67.2% |
| Share count change | β | β | 17.8% | β83.8% | β61.0% | β51.8% | 233.9% | 518.1% |
| Financial health | ||||||||
| Debt / equity | β | 0.4x | 0.5x | 0.1x | 0.5x | 0.7x | 1.2x | β |
| Interest coverage | β0.8x | β25.6x | β112.1x | β91.9x | β75.1x | β4.8x | β2.0x | β137.7x |
| Current ratio | 1.9x | 4.4x | 2.3x | 1.8x | 2.2x | 1.1x | 1.1x | 5.0x |
| Quick ratio | 0.9x | 2.7x | 1.4x | 0.8x | 1.0x | 0.4x | 0.4x | 5.0x |
| Capital allocation | ||||||||
| Capex / revenue | 6.1% | 1.1% | 1.3% | 2.6% | 2.0% | 1.5% | 1.8% | 2.3% |
| Stock comp / revenue | 2.3% | 4.3% | 0.6% | 3.4% | 1.7% | 0.4% | 0.8% | 105.6% |
| Quality scores | ||||||||
| Piotroski F-score | β | 2.0 | 2.0 | 3.0 | 4.0 | 6.0 | 3.0 | 2.0 |
| Altman Z'' | 1.9 | 3.1 | β0.1 | 1.4 | β18.2 | β25.6 | β33.4 | β8.1 |
| Accruals ratio | 9.9% | 7.0% | β1.6% | 3.3% | β76.2% | β47.6% | β32.6% | β133.9% |
Source: SEC EDGAR XBRL filings (CIK 0001743745). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
