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Greenlane Holdings

GNLN
31
Tobacco · Consumer Defensive
Price
$2.80
-0.04 (-1.41%)
Market Cap
$525,725
Exchange
NASDAQ Global Market
Winston Score
31
Winston is serious
Below-average fundamentals — multiple weak pillars.
Data as of Sep 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
Growth
Mixed
Cash Flow
Weak
Stability
Data not available
Valuation
Data not available

Share count rising — dilution

+31926.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 187.147 (2021) → 60K (2025)

§Winston Score History

The full picture

Greenlane Holdings, Inc., established in 2005 and based in Boca Raton, Florida, is a prominent entity in the creation and supply of cannabis-related accessories, child-resistant containers, vaporization devices, and lifestyle goods. Its operations extend across the United States, Canada, and European markets, organized into distinct Consumer Goods and Industrial Goods divisions. The company's expansive product range includes various consumption aids such as vaporizers, pipes, rolling papers, packaging solutions, grinders, and apparel, along with specialized smoking and vaping apparatus like bubblers and rigs. These items are marketed under well-known labels including VIBES, Pollen Gear, Marley Natural, Aerospaced & Groove, K. Haring Glass Collections, Eyce, Higher Standards, and DaVinci. Greenlane distributes its offerings through an extensive network of 8,500 retailers, encompassing smoke shops, cannabis dispensaries, and specialty stores, while also maintaining a substantial online presence via numerous e-commerce platforms such as Vapor.com, Higherstandards.com, and DaVincivaporizer.com.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-50.4% YoY

YoY Growth Rate

Revenue declining

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (2%)

Research and development spending

Cash Runway

~3 months

$14M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Greenlane Holdings has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
87.2%
Premium pricing power — 87.2% gross margin
Profit after running costs
Operating Margin
-839.9%
Losing money on operations — -839.9%
Return on the money invested
ROCE
-221.2%
Weak — -221.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-63.1%
Shrinking sales (-63.1% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
-872.4%
Burning cash (-872.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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