Greenlane Renewables Inc GRNWF

earnings -Q3

[bmbruce]

improvements over Q2 ...maintained profit margins in a difficult enviroment



 

Three Months Ended June 30th			Six Months Ended June 30th
(in millions, except as noted)	2022	2021	% Change	2022	2021	% Change
Revenue	$18.1	$12.6	44%	$34.4	$24.8	39%
Gross Profit	$3.9	$2.9	34%	$7.5	$5.9	27%
Gross Margin	$4.6	$3.2	44%	$8.6	$6.5	32%
Gross Margin as % of Revenue	25%	26%		25%	26%
Adjusted EBITDA1	($0.4)	$0.1	(458%)	($0.4)	$0.7	(155%)
Net Loss	($2.2)	($1.1)	(102%)	($4.3)	($1.3)	(231%)
Sales Order Backlog2				$40.7	$41.9	(3%)
Sales Pipeline3				$900	$800	13%
Cash & Cash Equivalents				$23.2	$36.5	(36%)

Three Months Ended June 30th			Six Months Ended June 30th
(in millions, except as noted)	2022	2021	% Change	2022	2021	% Change
Revenue	$18.1	$12.6	44%	$34.4	$24.8	39%
Gross Profit	$3.9	$2.9	34%	$7.5	$5.9	27%
Gross Margin	$4.6	$3.2	44%	$8.6	$6.5	32%
Gross Margin as % of Revenue	25%	26%		25%	26%
Adjusted EBITDA1	($0.4)	$0.1	(458%)	($0.4)	$0.7	(155%)
Net Loss	($2.2)	($1.1)	(102%)	($4.3)	($1.3)	(231%)
Sales Order Backlog2				$40.7	$41.9	(3%)
Sales Pipeline3				$900	$800	13%
Cash & Cash Equivalents				$23.2	$36.5	(36%)

Three Months Ended Sep 30th			Nine Months Ended Sep 30th
(in millions, except as noted)	2022	2021	% Change	2022	2021	% Change
Revenue	$19.9	$13.4	48%	$54.3	$38.2	42%
Gross Margin1	$4.9	$3.4	47%	$13.5	$9.9	37%
Gross Margin as % of revenue	25%	25%		25%	26%
Gross Profit	$4.3	$3.1	40%	$11.9	$8.9	33%
Adjusted EBITDA2	$0.4	$0.1	400%	$0.02	$0.8	(98%)
Net Income (Loss)	$0.6	$0.05	982%	($3.7)	($1.3)	192%
Sales Order Backlog3				$36.7	$47.1	(22%)
Sales Pipeline4				$900	$850	6%
Cash & Cash Equivalents				$21.3	$35.6	(40%)

[Tan4646]

positive net income , albeit fx gain.  Their costs are a result of growing,, sg&a for acquisition of airdep and new hirings..  It is a growth stock afterall and the pipeline is strong.  I expect to see steady share price appreciation over the next qtr and no addtional debt.