Lucide Ledger

A filing-first public record from Lucide House.

Issue 005 | U.S. Pilot | US

GNLN

Greenlane Holdings, Inc.

Screen state: Passing Source state: Verified 10-Q | 2026-05-15 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 42.4%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
19,970,000USD
Total Liabilities
6,136,000USD
NCAV
13,834,000USD
Cash
13,320,000USD
NCAV per share
3.38USD/share
Evidence
7 annual | 20 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated
12
Triggered
3
Unavailable
7
Requires inspection High NCAV Burn since the previous filing 13,834,000
Latest
13,834,0002026-03-31
Comparison
28,879,0002025-12-31
Change
-52.1%

Basis: NCAV burn since previous filing >= 10%; previous NCAV must be positive

Source periods: SEC 10-Q 2026-03-31 · 0001493152-26-023857; REPORTED_FILING 10-K 2025-12-31

Requires inspection Negative OCF -4,830,000
Latest
-4,830,0002026-03-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 10-Q 2026-03-31 · 0001493152-26-023857

Supporting observation Current Ratio > 1.5 3.25
Latest
3.252026-03-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 10-Q 2026-03-31 · 0001493152-26-023857

7 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Material 1Y Share Increase 1Y share change >= +2% using the same share-count source
NCAV Growing equivalent prior-year NCAV change >= +2%; both NCAV values must be positive
No Material 1Y Share Increase 1Y share change > -2% and <= +1% using the same share-count source
Non-Positive Equity ordinary shareholders equity <= 0
Share Count Reduced 1Y share change <= -2% using the same share-count source

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Share Count & Per-Share Comparability

Historical values can be viewed as reported in each filing or normalized to the latest verified split basis. These are measurement aids, not conclusions about a company.

Policy: normalize_to_latest_verified_split_basis | quality: verified

Display basis

Verified split events: reverse 5.0 on 2023-06-02; reverse 12.0 on 2024-06-18; reverse 750.0 on 2025-12-31; reverse 5.0 on 2026-03-25; reverse 11.0 on 2026-03-25

Known Unknowns

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-12-31
10-K
USD
2024-12-31
10-K
USD
2023-12-31
10-K
USD
2022-12-31
10-K
USD
2021-12-31
10-K
USD
2020-12-31
10-K
USD
2019-12-31
10-K
USD
Revenue 4,355,000 13,275,000 65,373,000 137,085,000 166,060,000 138,304,000 185,006,000
Operating Income -54,246,000 -11,815,000 -26,084,000 -127,734,000 -52,722,000 -48,975,000 -24,924,000
Net Income -85,580,000 -17,640,000 -32,175,000 -115,760,000 -30,583,000 -14,517,000 -28,816,000
Cash From Operations -16,260,000 -6,750,000 -1,793,000 -26,426,000 -37,330,000 -12,302,000 -36,903,000
Capex -98,000 -244,000 -1,007,000 -2,784,000 -4,400,000 -1,788,000 -2,020,000
Free Cash Flow -16,358,000 -6,994,000 -2,800,000 -29,210,000 -41,730,000 -14,090,000 -38,923,000
Cash And Equivalents 32,513,000 899,000 463,000 6,458,000 12,857,000 30,435,000 47,773,000
Accounts Receivable 1,572,000 4,262,000 1,693,000 6,468,000 14,690,000 6,330,000 8,091,000
Inventory n/a 14,215,000 20,529,000 40,643,000 66,982,000 36,064,000 43,060,000
Total Current Assets 36,086,000 23,772,000 29,769,000 76,703,000 124,737,000 96,083,000 114,968,000
Total Assets 74,931,000 28,631,000 38,093,000 146,053,000 285,827,000 122,650,000 153,202,000
Total Current Liabilities 7,207,000 22,266,000 26,090,000 35,659,000 70,968,000 41,856,000 26,262,000
Total Liabilities 7,207,000 22,349,000 27,101,000 50,694,000 89,463,000 53,393,000 38,938,000
Shareholders Equity 67,873,000 6,431,000 11,124,000 95,358,000 174,528,000 15,065,000 22,416,000
Shares Outstanding n/a 2,267 3,726,000 15,985,000 106,955,000 79,530,000 93,578,000
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 7,492,000 1,212,000 3,993,000 7,531,000 38,595,000 11,947,000 10,145,000
Weighted Avg Shares Basic 7,492,000 1,212,000 3,993,000 7,531,000 38,595,000 11,947,000 10,145,000
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence 34.0% -15.0% Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence -25.4% 17.7% Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Metric
2026-03-31
10-Q
USD
2025-12-31
10-K
USD
2025-09-30
10-Q
USD
2025-06-30
10-Q
USD
2025-03-31
10-Q
USD
2024-12-31
10-K
USD
2024-09-30
10-Q
USD
2024-06-30
10-Q
USD
2024-03-31
10-Q
USD
2023-12-31
10-K
USD
2023-09-30
10-Q
USD
2023-06-30
10-Q
USD
2023-03-31
10-Q
USD
2022-12-31
10-K
USD
2022-09-30
10-Q
USD
2022-06-30
10-Q
USD
2022-03-31
10-Q
USD
2021-12-31
10-K
USD
2021-09-30
10-Q
USD
2021-06-30
10-Q
USD
Revenue 448,000 1,361,000 737,000 788,000 1,469,000 1,659,000 4,038,000 2,652,000 4,926,000 9,989,000 11,800,000 19,625,000 23,959,000 21,955,000 28,680,000 39,916,000 46,534,000 56,022,000 41,314,000 34,715,000
Operating Income -5,572,000 -38,415,000 -9,100,000 -3,256,000 -3,475,000 -3,802,000 -538,000 -3,495,000 -3,980,000 -148,000 -6,887,000 -9,529,000 -9,520,000 -16,387,000 -79,462,000 -13,674,000 -18,211,000 -11,500,000 -27,699,000 -5,583,000
Net Income -18,360,000 -69,565,000 -8,933,000 -3,215,000 -3,867,000 -8,777,000 -3,757,000 -615,000 -4,491,000 -1,331,000 -10,117,000 -10,533,000 -10,194,000 -13,195,000 -75,109,000 -12,124,000 -15,332,000 -7,003,000 -16,281,000 -3,043,000
Cash From Operations -4,830,000 -4,458,000 -7,957,000 -400,000 -3,445,000 -1,518,000 -4,853,000 -298,000 -81,000 -2,985,000 -3,464,000 2,773,000 1,883,000 -3,938,000 -8,758,000 -1,707,000 -12,023,000 -5,302,000 -16,870,000 99,000
Capex -16,000 -23,000 -7,000 -52,000 -16,000 -71,000 -22,000 -16,000 -135,000 -374,000 -327,000 -130,000 -176,000 -1,124,000 -388,000 -488,000 -784,000 -2,073,000 -785,000 -1,123,000
Free Cash Flow -4,846,000 -4,481,000 -7,964,000 -452,000 -3,461,000 -1,589,000 -4,875,000 -314,000 -216,000 -3,359,000 -3,791,000 2,643,000 1,707,000 -5,062,000 -9,146,000 -2,195,000 -12,807,000 -7,375,000 -17,655,000 -1,024,000
Cash And Equivalents 13,320,000 32,513,000 1,810,000 5,724,000 8,516,000 899,000 2,309,000 169,000 157,000 463,000 2,443,000 4,651,000 5,872,000 6,458,000 8,039,000 9,130,000 5,944,000 12,857,000 13,215,000 11,632,000
Total Current Assets 19,970,000 36,086,000 14,342,000 28,117,000 33,567,000 23,772,000 26,639,000 25,358,000 26,934,000 29,769,000 37,509,000 49,486,000 62,794,000 76,703,000 86,471,000 113,805,000 118,817,000 124,737,000 120,021,000 66,865,000
Total Liabilities 6,136,000 7,207,000 6,625,000 11,831,000 14,946,000 22,349,000 24,499,000 26,975,000 28,474,000 27,101,000 33,037,000 39,433,000 44,487,000 50,694,000 63,784,000 82,167,000 91,874,000 89,463,000 66,606,000 43,379,000
Shares Outstanding n/a n/a n/a n/a n/a 3,023 n/a n/a n/a 339 n/a n/a 15,878,404 1,599,000 n/a n/a n/a 5,347,000 79,807,000 72,737,000
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 4,086,882 15,424,482 1,386,551 1,010,216 12,178,170 1,212,000 1,647,000 462,000 5,262,000 3,993,000 5,513,000 1,599,000 15,986,000 7,531,000 6,574,000 5,337,000 90,170,000 79,823,022 39,735,000 18,837,000
Weighted Avg Shares Basic 4,086,882 15,424,482 1,386,551 1,010,216 12,178,170 1,212,000 1,647,000 462,000 5,262,000 3,993,000 5,513,000 1,599,000 15,986,000 7,531,000 6,574,000 5,337,000 90,170,000 79,823,022 39,735,000 18,837,000
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence 31.8% Insufficient evidence 244.8% 77.3% 0.0% Insufficient evidence 23.2% -65.0% 27.8% 34.0% 9.7% -8.5%
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence -24.1% Insufficient evidence -71.0% -43.6% 0.0% Insufficient evidence -18.8% 186.0% -21.7% -25.4% -8.9% 9.3%
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 19,970,000USD us-gaap:AssetsCurrent 2026-03-31 1.00 Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Total Liabilities 6,136,000USD us-gaap:Liabilities 2026-03-31 1.00 Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Cash 13,320,000USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2026-03-31 1.00 Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Shares Outstanding 4,086,882 us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding 2026-03-31 1.00 Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
NCAV 13,834,000USD derived 2026-03-31 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 3.38USD derived 2026-03-31 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 42.4% derived 2026-03-31 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / weighted_avg_shares_diluted

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001743745
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001743745/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
23
Imported At
2026-08-15T12:52:06+00:00
Rendered At
2026-08-16T03:30:00+00:00

Run Audit

Mary Run
062cd84c6cec4533b9bb580392e1f3bf
Mary As Of
2026-08-07
Accession
0001493152-26-023857
CIK
0001743745
Mary Filing Date
2026-05-15
Filing Currency
USD
Internal Discount
42.4%
Source State
Verified
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=062cd84c6cec4533b9bb580392e1f3bf; mary_as_of=2026-08-07; mary_filing_date=2026-05-15; mary_accession=0001493152-26-023857; mary_cik=0001743745; gnni_supporting_filing_date=2026-05-15; internal_discount=0.423925; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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