v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net sales $ 32,400 $ 52,986 $ 66,268 $ 102,884
Cost of sales 25,583 43,835 52,122 84,746
Gross profit 6,817 9,151 14,146 18,138
Operating expenses:        
Salaries, benefits and payroll taxes 6,121 7,029 12,735 15,111
General and administrative 6,426 5,413 15,085 10,797
Goodwill impairment charge 0 0 8,996 0
Depreciation and amortization 650 645 1,360 1,330
Total operating expenses 13,197 13,087 38,176 27,238
Loss from operations (6,380) (3,936) (24,030) (9,100)
Other income (expense), net:        
Change in fair value of convertible notes 0 0 0 (12,063)
Interest expense (110) (140) (220) (742)
Other income, net 186 748 1,126 924
Total other income (expense), net 76 608 906 (11,881)
Loss before income taxes (6,304) (3,328) (23,124) (20,981)
Provision for (benefit from) income taxes 8 (108) (73) (97)
Net loss (6,312) (3,220) (23,051) (20,884)
Less: Net loss attributable to non-controlling interest (4,261) (1,453) (16,539) (1,453)
Net loss attributable to Greenlane Holdings, Inc. $ (2,051) $ (1,767) $ (6,512) $ (19,431)
Net loss attributable to Class A common stock per share - basic and diluted (in dollars per share) $ (0.18) $ (0.03) $ (0.60) $ (0.03)
Weighted-average shares of Class A common stock outstanding - basic and diluted (in shares) 11,380 9,998 10,921 9,998
Other comprehensive (loss) income:        
Foreign currency translation adjustments $ 471 $ 23 $ (156) $ 51
Unrealized loss on derivative instrument (66) 0 (559) 0
Comprehensive loss (5,907) (3,197) (23,766) (20,833)
Less: Comprehensive loss attributable to non-controlling interest (3,955) (1,429) (17,086) (1,429)
Comprehensive loss attributable to Greenlane Holdings, Inc. $ (1,952) $ (1,768) $ (6,680) $ (19,404)