Greenlane Holdings Reports Q4 Earnings With 54% YoY Net Sales Increase Following KushCo Merger

Greenlane Holdings, Inc. GNLN reported its preliminary financial results for its fourth quarter and full-year ended December 31, 2021, reflecting the first full quarter of combined operations following the successful merger of Greenlane and KushCo Holdings, Inc., which was completed on August 31, 2021. The Company also announced a preliminary investor conference schedule for the next couple of months.

Preliminary Estimated and Unaudited Fourth Quarter and Full Year 2021 Financial Data:
On a preliminary (unaudited) basis, the Company anticipates net sales of between approximately $55.5 million and $56.5 million for the fourth quarter and between approximately $165.5 million and $166.5 million for the full year ended December 31, 2021.

The 54% year-over-year increase in net sales was primarily driven by an increase in sales of Greenlane Brands, as well as the KushCo merger.

In addition, the Company anticipates gross margins of between 18% and 20% for the fourth quarter and between approximately 15% and 16% for the full year ended December 31, 2021.

Near-Term Investor Conference Schedule:
The Company's CEO Nick Kovacevich and CFO Bill Mote are scheduled to participate-and meet with investors and analysts at the following upcoming investor conferences:

• 34^th Annual ROTH Conference (March 14-15, 2022)
• Benzinga Cannabis Capital Conference (April 20-21, 2022)

Photo by Karolina Grabowska from Pexels