VANCOUVER, BC, March 12, 2026 /CNW/ - Greenlane Renewables Inc. ("Greenlane'' or the "Company") (TSX:GRN) (FSE: 52G) (OTC:GRNWF) today announced its financial results for the fourth quarter and fiscal year ended December 31, 2025. For further information on these results please see the Company's Audited Consolidated Financial Statements and Management's Discussion and Analysis filed under the Company's profile on SEDAR+ at www.sedarplus.ca. All amounts reported are in Canadian dollars and in accordance with International Financial Reporting Standards ("IFRS") unless otherwise stated.
Fiscal Year 2025 Highlights Include:
Adjusted EBITDA2 of $2.3 million;
Annual revenue of $44.4 million;
Gross profit of $18.1 million;
Gross Margin1 before amortization of $19.1 million (43% of revenue);
Net loss and comprehensive loss of $0.7 million; and
Sales Order Backlog3 of $33.6 million as at December 31, 2025.
Fourth Quarter Highlights Include:
Adjusted EBITDA2 loss of $0.5 million;
Revenue of $10.8 million;
Gross profit of $4.1 million;
Gross Margin1 before amortization of $4.4 million (41% of revenue);
Net loss and comprehensive loss of $1.3 million;
Cash and cash equivalents at quarter end of $17.7 million;
No debt, other than payables, and off balance sheet arrangements, as at December 31, 2025; and
Announced the filing of a new patent application for a Linear Nitrogen Rejection Unit (NRU) as part of its Cascade LF product line, the company's next-generation landfill gas upgrading technology.
Three Months Ended Dec 31
Twelve Months Ended Dec 31
(in millions, except as noted)
2025
2024
% Change
2025
2024
% Change
Revenue
$10.8
$8.5
27 %
$44.4
$51.8
(14 %)
Gross Margin1 before amortization
$4.4
$3.8
15 %
$19.1
$16.3
17 %
Gross Margin as % of revenue
41 %
45 %
(8.9 %)
43 %
32 %
34 %
Gross profit
$4.1
$3.6
14 %
$18.1
$15.4
18 %
Adjusted EBITDA2
($0.5)
($0.2)
(142 %)
$2.3
($1.7)
234 %
Net income (loss) and comprehensive income (loss)
($1.3)
$1.9
-165 %
($0.7)
($1.3)
45 %
Sales Order Backlog3
$33.6
$21.8
54 %
Cash & cash equivalents
$17.7
$16.2
9 %
"We entered fiscal 2025 with a clear objective: improve Adjusted EBITDA results and maintain healthy cash reserves - and we overachieved on both goals," said Brad Douville, CEO of Greenlane. "Generating $2.3 million in Adjusted EBITDA in 2025 versus a loss in 2024 reflects the tangible progress we have made in how we operate and prioritize our highest-value opportunities. As a result of this success, we also increased our cash balance over the same period last year.
Our 2025 strategic initiatives, built on our past investments and achievements, were to: 1) continue sales growth in the most profitable segments of our business, namely our parts and service and proprietary standard products business areas, 2) improve profitability of our system integration and delivery business area, and 3) develop Cascade LF, our compelling next generation landfill gas upgrading product line, capture additional IP, and plan manufacturing. On a look-back proforma basis, our parts and service and proprietary standard products business areas generated positive Adjusted EBITDA over the last three years, with approximately 28% Adjusted EBITDA on $39 million in Revenue in 2025. Our system integration and delivery business area is being reconfigured, deliberately ramping down low-margin legacy contracts which pulled down our consolidated Adjusted EBITDA. We will ramp back up with system integration and delivery centered on Cascade LF, entering into new contracts structured for lower risk, higher margin and lower overall cost for customers.
In 2025, the development of our next generation Cascade LF landfill gas upgrading product line including our new proprietary Linear NRU, marked significant advancement in our technology portfolio. The new product line, engineered to improve methane recovery, reduce system complexity, and lower operating and capital costs, are underpinned by four patent applications, further enhancing our intellectual property position. We also solidified plans for establishment of our localized manufacturing of Cascade ...
