Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)

v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
USD ($)
$ / shares
shares
Jun. 30, 2021
USD ($)
$ / shares
shares
Jun. 30, 2022
USD ($)
$ / shares
shares
Jun. 30, 2021
USD ($)
$ / shares
shares
Income Statement [Abstract]        
Net sales $ 39,916 $ 34,715 $ 86,450 $ 68,724
Cost of sales 31,817 25,662 72,383 51,116
Gross profit 8,099 9,053 14,067 17,608
Operating expenses:        
Salaries, benefits and payroll taxes 8,836 5,596 18,897 11,966
General and administrative 10,588 8,398 22,303 17,979
Depreciation and amortization 2,349 642 4,752 1,186
Total operating expenses 21,773 14,636 45,952 31,131
Loss from operations (13,674) (5,583) (31,885) (13,523)
Other income (expense), net:        
Interest expense (266) (133) (672) (249)
Other income (expense), net (557) (120) (611) 204
Total other income (expense), net (823) (253) (1,283) (45)
Loss before income taxes (14,497) (5,836) (33,168) (13,568)
Provision for (benefit from) income taxes (16) 4 62 (14)
Net loss (14,481) (5,840) (33,230) (13,554)
Less: Net loss attributable to non-controlling interest (2,357) (2,797) (5,774) (6,255)
Net loss attributable to Greenlane Holdings, Inc. $ (12,124) $ (3,043) $ (27,456) $ (7,299)
Net loss attributable to Class A common stock per share - basic (Note 9) (in dollars per share) | $ / shares [1] $ (2.27) $ (3.23) $ (5.57) $ (9.07)
Net loss attributable to Class A common stock per share - diluted (Note 9) (in dollars per share) | $ / shares [1] $ (2.27) $ (3.23) $ (5.57) $ (9.07)
Weighted-average shares of Class A common stock outstanding - basic (Note 9) (in shares) | shares [1] 5,337 942 4,925 805
Weighted-average shares of Class A common stock outstanding - diluted (Note 9) | shares [1] 5,337 942 4,925 805
Other comprehensive income (loss):        
Foreign currency translation adjustments $ (62) $ 243 $ 26 $ 88
Unrealized gain (loss) on derivative instrument 0 0 358 204
Comprehensive loss (14,543) (5,597) (32,846) (13,262)
Less: Comprehensive loss attributable to non-controlling interest (2,357) (2,650) (5,688) (6,077)
Comprehensive loss attributable to Greenlane Holdings, Inc. $ (12,186) $ (2,947) $ (27,158) $ (7,185)
[1] After giving effect to the one-for-20 Reverse Stock Split effective August 9, 2022.