Positive Adjusted EBITDA and Earnings
Greenlane Renewables reported positive adjusted EBITDA and net income for the third quarter, marking back-to-back quarters of profitability and a significant turnaround from last year's net loss.
Revenue Growth
The company achieved a 10% increase in revenue, reaching $11.6 million compared to $10.5 million in the third quarter of 2024.
Increase in Sales Order Backlog
Sales order backlog grew significantly to $33.5 million, up 27% from Q2 and 58% from Q1 of this year.
Launch of Cascade LF Upgrading Technology
Greenlane introduced its next-generation Cascade LF upgrading system, designed to enhance revenue-generating RNG output from landfill gas assets, with positive initial customer feedback.
Improved Gross Margin
Gross margin before amortization increased to 39% from 34% last year, driven by stronger sales and enhanced operational efficiency.
Strong Cash Position
The company reported a strong cash balance of $19.3 million, up from $16.2 million at the end of 2024, with no debt.