Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash $ 4,651 $ 6,458
Restricted cash 0 5,718
Accounts receivable, net of allowance of $4,529 and $4,826 at June 30, 2023 and December 31, 2022, respectively 3,089 6,468
Inventories, net 29,840 40,643
Vendor deposits 5,013 6,296
Other current assets 6,893 11,120
Total current assets 49,486 76,703
Property and equipment, net 3,587 3,962
Operating lease right-of-use assets 2,505 3,442
Other assets 5,539 5,578
Total assets 61,117 89,685
Current liabilities    
Accounts payable 17,166 14,953
Accrued expenses and other current liabilities (Note 8) 11,718 11,882
Customer deposits 2,938 3,983
Current portion of notes payable 2,334 3,185
Current portion of operating leases 1,005 1,528
Current portion of finance leases 128 128
Total current liabilities 35,289 35,659
Notes payable, less current portion and debt issuance costs, net 2,591 13,040
Operating leases, less current portion 1,473 1,887
Finance leases, less current portion 0 29
Other liabilities 80 79
Total long-term liabilities 4,144 15,035
Total liabilities 39,433 50,694
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] 264,276 264,017
Accumulated deficit (242,839) (225,114)
Accumulated other comprehensive income 260 55
Total stockholders’ equity attributable to Greenlane Holdings, Inc. 21,712 38,973
Non-controlling interest (28) 18
Total stockholders’ equity 21,684 38,991
Total liabilities and stockholders’ equity 61,117 89,685
Common Class A    
STOCKHOLDERS’ EQUITY    
Common stock [1] 15 15
Common Class B    
STOCKHOLDERS’ EQUITY    
Common stock [1] $ 0 $ 0
[1] After giving effect to the Reverse Stock Splits - See Note 9 - Stockholders' Equity.