Greenlane Holdings Reports 70% Revenue Decline and Increased Losses in Q1 2026

Greenlane Holdings, Inc. reported a significant decline in financial performance for the first quarter of 2026, with net revenue falling to $448,000, a decrease of approximately 70% from $1.5 million in the same period of 2025. The company's loss from operations widened to $5.6 million, compared to a loss of $3.5 million in the prior year. The net loss attributable to Greenlane Holdings was $18.4 million, which included a non-cash fair value loss of $12.9 million on digital assets. The company's cash and cash equivalents decreased to $13.3 million from $32.5 million at the end of 2025, reflecting cash used in operations and investments in digital assets.

The decline in revenue was primarily attributed to reduced sales volume and inventory availability as Greenlane transitioned its legacy wholesale and distribution business to a lower-scale, asset-light drop-ship model. The company continues to operate this legacy business but at a significantly reduced scale. In contrast, the Digital Asset Segment generated approximately $417,000 in staking revenue, marking a new revenue stream following the company's strategic pivot to focus on digital assets, particularly BERA, the native token of the Berachain blockchain network.

Operationally, Greenlane has made substantial changes, including the formation of a Digital Assets Committee to oversee its treasury strategy and risk management. The company has also implemented a treasury policy that emphasizes the acquisition and management of BERA. As of March 31, 2026, Greenlane held $34.2 million in digital assets, down from $36.6 million at the end of 2025, reflecting the volatility in the digital asset market. The company has also engaged in token purchase and lending arrangements to facilitate BERA acquisition activities.

Looking ahead, Greenlane's management believes it has sufficient liquidity to meet its obligations for at least the next twelve months, despite the challenges posed by market conditions and the transition of its business model. The company is focused on maintaining liquidity, executing its digital asset treasury strategy, and aligning operating costs with its current business model. Additionally, Greenlane has initiated a share repurchase plan, authorizing the buyback of up to $2 million of its Class A common stock, which may provide further support to its stock price amid ongoing market volatility.