Greenlane Holdings, Inc., a global house of brands and one of the largest sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced preliminary financial results for its second quarter ended June 30, 2021.
Preliminary Estimated and Unaudited Q2 2021 Financial and Other Data
On a preliminary (unaudited) basis, the Company anticipates:
- Net sales of approximately $34.5 million
- Gross margin of 21% to 22%
- Total cash balance of approximately $11.5 million
Primarily due to headwinds created by uncertainty in our supply chain and lingering impacts of Covid-19, the Company is suspending the illustrative pro forma outlook provided on March 31, 2021, for the calendar year ending December 31, 2021, and expects to reestablish a pro forma outlook at a later date. Greenlane continues to expect the proposed merger with KushCo Holdings to close in the third quarter of 2021, subject to the satisfaction or waiver of all remaining conditions in the agreement, including the receipt of all necessary approvals.
