v3.23.4
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net sales $ 11,800 $ 28,680 $ 55,384 $ 115,130
Cost of sales 8,671 23,711 42,162 96,094
Gross profit 3,129 4,969 13,222 19,036
Operating expenses:        
Salaries, benefits and payroll taxes 4,059 7,000 14,586 25,897
General and administrative 5,433 8,547 20,209 30,850
Goodwill and indefinite-lived intangibles impairment 0 66,760 0 66,760
Definite-lived intangibles impairment charge 0 50,694 0 50,694
Property and equipment impairment charge 0 7,336 0 7,336
Depreciation and amortization 524 2,124 1,492 6,876
Total operating expenses 10,016 142,461 36,287 188,413
Loss from operations (6,887) (137,492) (23,065) (169,377)
Other income (expense), net:        
Interest expense (3,415) (926) (5,148) (1,598)
Other income (expense), net 204 1,173 338 562
Total other income (expense), net (3,211) 247 (4,810) (1,036)
Loss before income taxes (10,098) (137,245) (27,875) (170,413)
Provision for (benefit from) income taxes 0 0 (6) 62
Net loss (10,098) (137,245) (27,869) (170,475)
Less: Net loss attributable to non-controlling interest 19 (6,742) (27) (12,516)
Net loss attributable to Greenlane Holdings, Inc. $ (10,117) $ (130,503) $ (27,842) $ (157,959)
Net loss attributable to Class A common stock per share - basic (Note 9) (in dollars per share) [1] $ (1.91) $ (198.51) $ (9.67) $ (277.41)
Net loss attributable to Class A common stock per share - diluted (Note 9) (in dollars per share) [1] $ (1.91) $ (198.51) $ (9.67) $ (277.41)
Weighted-average shares of Class A common stock outstanding - basic (Note 9) (in shares) [1] 5,513 657 2,918 569
Weighted-average shares of Class A common stock outstanding - diluted (Note 9) [1] 5,513 657 2,918 569
Other comprehensive income (loss):        
Foreign currency translation adjustments $ (24) $ (238) $ 181 $ (212)
Unrealized gain (loss) on derivative instrument 0 0 0 358
Comprehensive loss (10,122) (137,483) (27,688) (170,329)
Less: Comprehensive loss attributable to non-controlling interest 0 (6,742) (8) (12,430)
Comprehensive loss attributable to Greenlane Holdings, Inc. $ (10,122) $ (130,741) $ (27,680) $ (157,899)
[1] After giving effect to the Reverse Stock Splits - See Note 9 - Stockholders' Equity.

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