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greenlane Greenlane Reports Record Q3 2021 Revenue of $ 41.3 Million Company Closes Transformational Merger with KushCo , Creating the Industry's Leading Ancillary Cannabis Company and House of Brands Revenue up 16 % Year - over - Year ; Greenlane Brands Revenue up 26 % Year - over - Year Company Targets $ 70 Million and $ 100 Million of Greenlane Brands Revenue for 2022 and 2023 , Respectively , with Gross Margins of 45 % + BOCA RATON , Fla . , November 15 , 2021 - Greenlane Holdings , Inc. ( " Greenlane " or " the Company " ) ( Nasdaq : GNLN ) , one of the largest global sellers of premium cannabis accessories , child - resistant packaging , and specialty vaporization products , today reported financial results for the third quarter ended September 30 , 2021 ( " Q3 2021 " ) . Recent Highlights Total revenue increased 16 % to $ 41.3 million for Q3 2021 , compared to $ 35.8 million for Q3 2020 Achieved second - highest sales level in Company history for Greenlane Brands , which grew to $ 8.4 million in Q3 2021 , up 26 % compared to $ 6.7 million in sales for Q3 2020 ; Greenlane Brands accounted for 20.4 % of Q3 2021 total revenue compared with 18.7 % of total revenue for Q3 2020 Completed transformative merger with KushCo Holdings Inc. ( “ KushCo ” ) , creating an undisputed leader in the ancillary cannabis industry Entered into agreement to acquire industry leading vaporizer brand DaVinci , expanding Greenlane Brands portfolio and intellectual property pipeline Management Commentary Nick Kovacevich , CEO of Greenlane Holdings , said : " Q3 was a transformational quarter for Greenlane , with the completion of our merger with KushCo creating the industry's leading ancillary cannabis company and house of brands . Our first few months as a combined company have been off to a strong start , as demonstrated through several realized revenue and cost saving synergies , including the consolidation of certain vendors and infrastructure and the development of go - to - market cross - selling strategies across each of our respective platforms . We are extremely pleased with the progress we have made on our integration efforts to date , while simultaneously driving meaningful progression in the business . We also generated another strong quarter of sales for our Greenlane Brands , which , despite the normal and expected challenges of closing a merger , still represented the second highest quarterly revenue contribution in Company history . " Kovacevich continued , “ Looking ahead , we will continue to build our portfolio of higher - margin proprietary brands , as seen by our recent announcement to acquire leading high - margin vaporizer brand DaVinci , which expands our 1