Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash $ 6,458 $ 12,857
Restricted cash 5,718 0
Accounts receivable, net of allowance of $4,826 and $1,285 at December 31, 2022 and 2021, respectively 6,468 14,690
Inventories, net 40,643 66,982
Vendor deposits 6,296 18,475
Assets held for sale 0 75
Other current assets (Note 8) 11,120 11,658
Total current assets 76,703 124,737
Property and equipment, net 3,962 20,851
Intangible assets, net 0 84,710
Goodwill 0 41,860
Operating lease right-of-use assets 3,442 9,128
Other assets 5,578 4,541
Total assets 89,685 285,827
Current liabilities    
Accounts payable 14,953 23,041
Accrued expenses and other current liabilities (Note 8) 11,882 25,128
Customer deposits 3,983 7,924
Current portion of notes payable, including $0 and $8,000 owed to related party at December 31, 2022 and 2021, respectively 3,185 11,615
Current portion of operating leases 1,528 3,091
Current portion of finance leases 128 169
Total current liabilities 35,659 70,968
Notes payable, less current portion and debt issuance costs, net 13,040 10,607
Operating leases, less current portion 1,887 6,142
Finance leases, less current portion 29 72
Other liabilities 79 1,674
Total long-term liabilities 15,035 18,495
Total liabilities 50,694 89,463
Commitments and contingencies (Note 7)
STOCKHOLDERS’ EQUITY    
Preferred stock, $0.0001 par value, 10,000 shares authorized, none issued and outstanding 0 0
Additional paid-in capital [1] 263,880 229,705
Accumulated deficit (225,114) (55,544)
Accumulated other comprehensive income 55 324
Total stockholders’ equity attributable to Greenlane Holdings, Inc. 38,973 174,528
Non-controlling interest 18 21,836
Total stockholders’ equity 38,991 196,364
Total liabilities and stockholders’ equity 89,685 285,827
Common Class A    
STOCKHOLDERS’ EQUITY    
Common stock [1] 152 43
Common Class B    
STOCKHOLDERS’ EQUITY    
Common stock [1] 0 0
Common Class C    
STOCKHOLDERS’ EQUITY    
Common stock $ 0 $ 0
[1] After giving effect to the one-for-20 Reverse Stock Split effective August 9, 2022.