RE:Earnings...In my opinion, it seems Greenlane Renewables is in a bit of a holding pattern at the moment. They're facing delays in signing new contracts for their biogas upgrader systems, which has impacted their ability to meet their 2024 financial goals. To manage this, they have made some changes - they've reduced their workforce and administrative costs to conserve cash, and they're focusing more on growing their service and maintenance revenue streams. This suggests they are trying to streamline and stabilize their business while they wait for the market conditions to improve and allow them to sign new system sales contracts.
The relatively modest size of Greenlane's current order backlog indicates they are dependent on closing these new deals to drive their growth and profitability. Until they're able to rebuild a stronger pipeline of new contract wins, the company appears to be in a holding pattern - preserving resources and positioning itself to capture opportunities when the market conditions are more favorable.