Item 2.02. Results of Operations and Financial Condition.
OnJanuary 31, 2022 ,Greenlane Holdings, Inc. (the "Company" or "Greenlane") issued a press release announcing certain preliminary unaudited financial results for the quarter and year endedDecember 31, 2021 . A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. In accordance with General Instruction B.2 of Form 8-K, the information included in this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing made by the Company under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01. Other Events.
The preliminary estimated and unaudited financial data announced by the Company
on
On a preliminary (unaudited) basis, the Company anticipates net sales of between approximately$55.5 million and$56.5 million for the fourth quarter and between approximately$165.5 million and$166.5 million for the full year endedDecember 31, 2021 .
The 54% year-over-year increase in net sales was primarily driven by an increase
in sales of Greenlane Brands, as well as the
In addition, the Company anticipates gross margins of between 18% and 20% for the fourth quarter and between approximately 15% and 16% for the full year endedDecember 31, 2021 .Greenlane's estimated and unaudited consolidated financial data presented above are preliminary and were prepared by management in good faith based upon internal reporting for the three months and full year endedDecember 31, 2021 . AlthoughGreenlane has not identified any unusual or unique events or trends that occurred during the period which might materially affect these estimates, actual results may still be outside of the ranges provided.Greenlane's independent registered public accounting firm,Marcum LLP , has not audited, reviewed, compiled or performed any procedures on this preliminary financial data. You should not place undue reliance on this preliminary and estimated financial information and should view this information in the context ofGreenlane's fourth quarter 2021 results when such results are disclosed inGreenlane's Annual Report on Form 10-K for the three months and full year endedDecember 31, 2021 . Forward Looking Statements Certain matters within this Current Report on Form 8-K are discussed using forward-looking language as specified in the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements. These forward-looking statements include, among others: comments relating to the current and future performance of the Company's business and the Company's financial outlook and expectations. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 10-K for the year endedDecember 31, 2020 , the Company's Quarterly Report on Form 10-Q for the quarterly period endedSeptember 30, 2021 and the Company's other filings with theSEC , which are accessible on theSEC's website at www.sec.gov. Additional information is also set forth inGreenlane's Quarterly Report on Form 10-Q for the quarterly period endedSeptember 30, 2021 . Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available toGreenlane on the date hereof.Greenlane undertakes no duty to update this information unless required by law. --------------------------------------------------------------------------------
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 99.1* Press Release of Greenlane Holdings, Inc., dated January 31 , 202 2 . 104 Cover Page Interactive Data File (formatted as
Inline XBRL and contained in
Exhibit 101) _________________ *Furnished herewith.
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