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Stock impact report

Greenlane Renewables Inc (GRNWF) Q3 2024 Earnings Call Highlights: Revenue Growth and ... [Yahoo! Finance]

Greenlane Holdings, Inc. - Class A (GNLN) 
Last greenlane holdings, inc. - class a earnings: 3/30 07:13 am Check Earnings Report
Company Research Source: Yahoo! Finance
Greenlane Renewables Inc ( GRNWF ) reported a 10% increase in revenue for Q3 2024 compared to Q3 2023, driven by both system sales and aftercare services. The company achieved a 70% increase in cash balance from Q2 2024, attributed to the conversion of accounts receivable to cash. Greenlane Renewables Inc ( GRNWF ) completed three upgrader projects in Q3 2024 and ten projects over the first nine months of 2024, showcasing operational efficiency. The gross margin before amortization for Q3 2024 was 34% of revenue, benefiting from a positive impact related to expired warranty provisions. The company reduced its general and administrative cost run rate by over 25%, resulting in a $5 million annual reduction in costs. Greenlane Renewables Inc ( GRNWF ) experienced delays in signing new biogas upgrading system contracts, impacting their goal of achieving positive adjusted EBITA for the full year. The company incurred a $500,000 restructuring charge in Q3 2024 related to workfo Show less Read more
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