Greenlane Holdings Reports Q2 Loss of $3.18 EPS, Revenue Down 70.2% Y/Y

Greenlane Holdings reported Q2 GAAP EPS of -$3.18 and revenue of $0.79M, a 70.2% YoY decline. The company had cash and cash equivalents of approximately $5.7M as of June 30, 2025. The financial performance indicates a significant downturn in revenue and earnings for the company.

Greenlane Holdings, Inc. (NASDAQ: GNLN) reported its financial results for the second quarter and six months ended June 30, 2025, revealing a significant downturn in revenue and earnings. The company's Q2 GAAP EPS stood at -$3.18, while revenue plummeted to $0.79 million, marking a 70.2% year-over-year (YoY) decline [1].

The financial performance was largely attributed to a major restructuring of the company's industrial product lines and sales organization. Greenlane transitioned its business from a gross sales to a commission structure, which negatively impacted sales and new customer acquisition in the second quarter. However, the company expects these changes to accelerate sales, improve customer experience, and increase efficiency in the long run [2].

Despite the revenue decline, Greenlane's operating loss improved to $3.3 million compared to $3.5 million in the prior year period. The company also reported an increase in new customer revenue, with an approximately 880% increase in revenue for new customers month over month from June to July, and a 40% increase from July to August [2].

Greenlane's cash and cash equivalents as of June 30, 2025, stood at approximately $5.7 million, providing a financial cushion to support the company's restructuring efforts and future growth initiatives [1].

The company's strategic growth and operational initiatives, such as entering into a distribution agreement with Greentank Technologies and renewing its distribution agreement with PAX, are expected to drive future revenue growth. Greenlane also appointed new leadership and upgraded its sales and marketing organizations to better align with its omnichannel sales strategy [2].

Looking ahead, Greenlane remains committed to improving profitability and efficiency. The company anticipates a stronger second half of 2025, driven by early but encouraging new customer sales activity and the implementation of its transformation initiatives [2].

References:
[1] Seeking Alpha. (2025). Greenlane Holdings press release (NASDAQ: GNLN): Q2 GAAP EPS of -$3.18. Revenue of $0.79M. Retrieved from https://seekingalpha.com/news/4485882-greenlane-holdings-gaap-eps-of--318-revenue-of-079m
[2] Greenlane Holdings, Inc. (2025). Greenlane reports second quarter 2025 financial results. Retrieved from https://investor.gnln.com/news-events/press-releases/detail/178/greenlane-reports-second-quarter-2025-financial-results