Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.20.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Current assets    
Cash $ 43,650 $ 47,773
Accounts receivable, net of allowance of $926 and $936 at March 31, 2020 and December 31, 2019, respectively 6,513 8,091
Inventories, net 42,965 43,060
Vendor deposits 9,261 11,120
Other current assets 2,518 4,924
Total current assets 104,907 114,968
Property and equipment, net 13,850 13,165
Intangible assets, net 6,107 6,301
Goodwill 2,933 11,982
Operating lease right-of-use assets 4,402 4,695
Other assets 2,078 2,091
Total assets 134,277 153,202
Current liabilities    
Accounts payable 10,896 11,310
Accrued expenses and other current liabilities 8,489 10,600
Customer deposits 2,583 3,152
Current portion of operating leases 1,218 1,084
Current portion of finance leases 116 116
Total current liabilities 23,302 26,262
Notes payable, less current portion and debt issuance costs, net 7,976 8,018
Operating leases, less current portion 3,454 3,844
Finance leases, less current portion 164 194
Other liabilities 1,016 620
Total long-term liabilities 12,610 12,676
Total liabilities 35,912 38,938
Commitments and contingencies (Note 6)
Stockholders’ Equity    
Preferred stock, $0.0001 par value, 10,000 shares authorized, none issued and outstanding 0 0
Class A common stock, $0.01 par value per share, 125,000 shares authorized; 10,479 shares issued and 10,292 shares outstanding as of March 31, 2020; 9,999 shares issued and 9,812 shares outstanding as of December 31, 2019 103 98
Class B common stock, $0.0001 par value per share, 10,000 shares authorized; 5,870 and 5,975 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively 1 1
Class C Common stock, $0.0001 par value per share, 100,000 shares authorized; 77,791 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively 8 8
Additional paid-in capital 33,891 32,108
Accumulated deficit (14,188) (9,727)
Accumulated other comprehensive loss (339) (72)
Total stockholders’ equity attributable to Greenlane Holdings, Inc. 19,476 22,416
Non-controlling interest 78,889 91,848
Total stockholders’ equity 98,365 114,264
Total liabilities and stockholders’ equity $ 134,277 $ 153,202