Quarterly report pursuant to Section 13 or 15(d)

Leases

v3.23.1
Leases
 3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Leases LEASES
Greenlane as a Lessee
As of March 31, 2023, we had facilities financed under operating leases consisting of warehouses, offices, and a retail store, with lease term expirations from 2023 to 2027. Lease terms are generally three to seven years for warehouses, office space and retail store locations. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
The following table provides details of our future minimum lease payments under finance and operating lease liabilities recorded in our condensed consolidated balance sheet as of March 31, 2023. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.
(in thousands) Operating Leases
Remainder of 2023 $ 1,078 
2024 914 
2025 942 
2026 81 
2027 and thereafter — 
Total minimum lease payments 3,015 
Less: imputed interest 106 
Present value of minimum lease payments 2,909 
Less: current portion 1,179 
Long-term portion $ 1,730 
The following expenses related to our operating leases were included in "general and administrative" expenses within our condensed consolidated statements of operations and comprehensive loss:
For the three months ended
March 31,
(in thousands) 2023 2022
Operating lease cost
 567  765 
Variable lease cost
 198  36 
Total lease cost $ 765  $ 801 
The table below presents lease-related terms and discount rates as of March 31, 2023:
Operating Leases
Operating leases 2.4 years
Operating leases 2.3  %
Greenlane as a Lessor
The following table represents the maturity analysis of undiscounted cash flows related to lease payments, which we expect to receive from our existing operating lease agreements related to our sublease in California:
Rental Income (in thousands)
Remainder of 2023 $ 241 
2024 and thereafter $ — 
Total $ 241