v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income Statement [Abstract]        
Net sales $ 41,314 $ 35,764 $ 110,038 $ 102,032
Cost of sales 41,192 33,297 94,832 85,419
Gross profit 122 2,467 15,206 16,613
Operating expenses:        
Salaries, benefits and payroll taxes 11,192 5,010 23,158 17,745
General and administrative 15,430 10,673 30,885 25,758
Goodwill impairment charge 0 0 0 8,996
Depreciation and amortization 1,199 599 2,385 1,959
Total operating expenses 27,821 16,282 56,428 54,458
Loss from operations (27,699) (13,815) (41,222) (37,845)
Other (expense) income, net:        
Interest expense (119) (115) (368) (335)
Other (expense) income, net (894) 357 (690) 1,483
Total other (expense) income, net (1,013) 242 (1,058) 1,148
Loss before income taxes (28,712) (13,573) (42,280) (36,697)
Provision for (benefit from) income taxes 3 220 (11) 147
Net loss (28,715) (13,793) (42,269) (36,844)
Less: Net loss attributable to non-controlling interest (12,434) (9,300) (18,689) (25,839)
Net loss attributable to Greenlane Holdings, Inc. $ (16,281) $ (4,493) $ (23,580) $ (11,005)
Net loss attributable to Class A common stock per share - basic (in dollars per share) $ (0.41) $ (0.35) $ (0.98) $ (0.95)
Net loss attributable to Class A common stock per share - diluted (in dollars per share) $ (0.41) $ (0.35) $ (0.98) $ (0.95)
Weighted-average shares of Class A common stock outstanding - basic (in shares) 39,735 12,798 24,061 11,559
Weighted-average shares of Class A common stock outstanding - diluted (in shares) 39,735 12,798 24,061 11,559
Other comprehensive income (loss):        
Foreign currency translation adjustments $ (147) $ 285 $ (59) $ 130
Unrealized gain (loss) on derivative instrument 52 35 256 (525)
Comprehensive loss (28,810) (13,473) (42,072) (37,239)
Less: Comprehensive loss attributable to non-controlling interest (12,479) (9,066) (18,556) (26,152)
Comprehensive loss attributable to Greenlane Holdings, Inc. $ (16,331) $ (4,407) $ (23,516) $ (11,087)

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