Greenlane

Greenlane helps people store, use, and enjoy cannabis products safely. It offers digital asset management and cannabis accessories for consumers and businesses. Its services support both blockchain users and retail shops needing reliable supply solutions.

Products and Services

• Digital Asset Treasury (4.9% of FY2025 revenue): Manages BERA tokens, participates in blockchain validation, and earns rewards from decentralized finance activities.
• Legacy Wholesale Distribution (95.1% of FY2025 revenue): Supplies vaporizers, pipes, rolling papers, grinders, and packaging to smoke shops and dispensaries.
• E-commerce Platforms: Operates websites like Vapor.com and Higherstandards.com for direct consumer sales of accessories and devices.
• Drop-Ship Model: Ships products directly from suppliers to customers, reducing inventory and fixed costs.
• Brand Portfolio: Offers products under brands such as VIBES, Marley Natural, DaVinci, and Eyce, targeting cannabis users and specialty retailers.

Growth and Expansion

• In October 2025, completed a $110 million private placement with digital asset investors.
• Shifted focus to digital asset treasury and blockchain participation in late 2025.
• Exited warehouse operations and adopted an asset-light, drop-ship model by February 2026.
• Formed a Digital Assets Committee and restructured the board in 2025.
• Expanded BERA token holdings to over 10% of total supply by February 2026.

What Makes Greenlane Stand Out

Greenlane is one of the few public companies focused on blockchain-based treasury management. Its asset-light model reduces costs and increases flexibility. The company’s broad distribution network supports both digital and physical product sales.

Five Things You Need to Know

• FY2025 net revenue was $4.4 million, down 67% from FY2024.
• Digital asset segment contributed approximately 5% of FY2025 revenue, all from staking rewards.
• Gross loss was $(12.5) million in FY2025, compared to $6.3 million profit in FY2024.
• Operating expenses rose 134% to $41.8 million in FY2025, mainly from stock-based compensation.
• As of December 2025, held $36.6 million in BERA tokens and $32.5 million in cash.

Bottom Line

Greenlane has shifted from cannabis accessories to digital asset management. Its new focus and asset-light model reflect major changes in strategy and operations.