Greenlane Pivots to Digital Asset Treasury Strategy, Reports $85.6M Net Loss for 2025 — Greenlane Holdings, Inc.

Event summary

Greenlane reported a net loss of $85.6M for 2025, including a $31.1M loss on the change in fair value of its BERA holdings.
The company held 51.6M units of BERA as of December 31, 2025, with a cost basis of $58.3M and a fair value of $36.6M.
Greenlane received a delisting notice from Nasdaq on March 25, 2026, for failing to meet the minimum bid price requirement.
The company approved a reverse stock split of its common stock at a ratio within a range of 1-for-5 to 1-for-15.
Greenlane entered into token transaction agreements with Berachain Operations Corporation for lending and purchasing BERA tokens.

The big picture

Greenlane's strategic shift to a digital asset treasury focused on BERA reflects a broader industry trend of companies pivoting towards blockchain and decentralized finance. The company's significant net loss and delisting notice highlight the risks and challenges associated with this transition. The success of this strategy will depend on the performance of the Berachain ecosystem and the company's ability to navigate regulatory hurdles.

What we're watching

Execution Risk: Whether Greenlane can effectively deploy its digital asset treasury strategy to enhance shareholder value.
Regulatory Headwinds: The impact of Nasdaq's delisting notice and the company's ability to regain compliance.
Market Dynamics: The pace at which the Berachain ecosystem grows and the long-term value of BERA.