Investor Presentation
GREENLANE
$ in millions, unless otherwise noted
Net income (loss)
Adjustments related to product rationalization to increase inventory turnover of slow-selling products [1]
Legal, professional fees and insurance expenses related to M&A transactions [2]
ADJUSTED EBITDA RECONCILIATION
Equity-based compensation expense
Allowances for uncollectable vendor deposits incurred in connection with management's strategic initiative [1]
Depreciation and amortization
Other (expense) income, net [3]
Non-recurring system implementation and website-development expenses [4]
Restructuring expenses [5]
Interest expense
Provision for (benefit from) income taxes
Obsolete inventory charges related to management's strategic initiative [1]
Loss related to indemnification asset not probable of recovery [6]
Adjusted EBITDA
THREE MONTHS ENDED SEPTEMBER 30
2021
($28.7)
$8.7
$4.5
$3.8
$1.7
$1.2
$0.9
$0.5
$0.4
$0.1
NASDAQ: GNLN
($6.9)
2020
($13.8)
$3.2
($1.0)
$0.8
$0.6
($0.4)
$0.5
$0.1
$0.2
$1.1
$2.2
($6.3)
Note: Amounts may not add due to rounding
1] Includes certain non-recurring charges related to management's strategic initiative. These adjustments were incurred liquidate inventory on hand and on order, rationalize product offerings, improve inventory turnover of slow-selling products and vacate warehouse
space for products with higher margin and marketability, along with synchronizing post-merger sales and inventory strategies.
2] Non-recurring M&A legal, professional services, Directors and Officers insurance costs relating to the KushCo merger.
3) Includes rental and interest income and other miscellaneous income.
4] Includes non-recurring expenses related to multiple software implementations, including the ERP implementation; along with non-recurring website development expenses.
5) Includes severance payments for employees terminated as part of transformation plans and post-merger restructuring expenses
6) Adjustment to reserve allowance for indemnification receivable from ARI's sellers primarily due to decrease of outstanding payable resulting from lower-than-expected interest and penalties.
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