Greenlane Renewables Posts $2.3M Adjusted EBITDA, Eyes Cascade LF Launch
Event summary
- Greenlane Renewables reported $2.3M in Adjusted EBITDA for FY2025, a $4M improvement from FY2024.
- Revenue declined 14% YoY to $44.4M, but gross margin expanded to 43% from 32%.
- Sales order backlog grew 54% YoY to $33.6M as of December 31, 2025.
- Company filed a new patent for its Cascade LF Linear Nitrogen Rejection Unit.
- Cash balance increased to $17.7M, with no debt other than payables.
The big picture
Greenlane's turnaround reflects strategic focus on higher-margin segments and next-gen technology. The RNG sector's policy tailwinds—particularly in the U.S. and Brazil—position the company to capitalize on growing demand for scalable upgrading solutions. Success hinges on executing its Cascade LF rollout while maintaining financial discipline.
What we're watching
- Product Launch Timing
- Whether Greenlane can deliver its first Cascade LF system by year-end 2026 as planned.
- Backlog Conversion
- How efficiently the company converts its $33.6M backlog into revenue in 2026.
- Regulatory Momentum
- The pace at which U.S. and international RNG policies translate into project demand.
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