Greenlane Renewables Inc (TSE:GRN)
TSX:GRN
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Greenlane Renewables Inc
(TSX:GRN)
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Rating:54Neutral
Price Target:
C$0.21
▼(-10.83% Downside)
Action:ReiteratedDate:03/14/26
The score is held back primarily by uneven financial performance (volatile revenue, still-negative earnings overall, and cash flow reverting to burn) and weak valuation support (very high P/E). Offsetting factors include a relatively strong balance sheet and a constructive earnings-call outlook with improving profitability, margins, backlog growth, and solid liquidity; technical indicators are neutral-to-mildly positive.
Positive Factors
Low leverage balance sheet
A conservative capital structure (very low debt-to-equity and modest absolute debt) reduces refinancing and interest risk and preserves financial flexibility. That stability supports multi-stage RNG project funding, allows opportunistic investments, and helps absorb timing delays in project revenue over the next several quarters.
Negative Factors
Volatile revenue trends
Revenue lumpiness tied to project timing and customer financing undermines predictable top-line growth. Such volatility complicates capacity planning, weakens forward margin visibility, and increases execution risk for multi-quarter projects; sustained top-line inconsistency could slow deleveraging of fixed costs and margin normalization.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage balance sheet
A conservative capital structure (very low debt-to-equity and modest absolute debt) reduces refinancing and interest risk and preserves financial flexibility. That stability supports multi-stage RNG project funding, allows opportunistic investments, and helps absorb timing delays in project revenue over the next several quarters.
Read all positive factors
Greenlane Renewables Inc (GRN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$37.50M
Dividend YieldN/A
Average Volume (3M)235.24K
Price to Earnings (P/E)―
Beta (1Y)2.14
Revenue Growth-30.45%
EPS GrowthN/A
CountryCA
Employees92
SectorIndustrials
Sector Strength72
IndustryIndustrial - Pollution & Treatment Controls
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding159,570,500
10 Day Avg. Volume171,558
30 Day Avg. Volume235,244
Financial Highlights & Ratios
PEG Ratio0.76
Price to Book (P/B)1.53
Price to Sales (P/S)0.81
P/FCF Ratio-33.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.2
Revenue Forecast (FY)C$227.07M
Greenlane Renewables Inc Business Overview & Revenue Model
Company Description
Greenlane Renewables Inc. designs, develops, sells, and services a range of biogas upgrading systems worldwide. The company's systems remove impurities and separate carbon dioxide from biomethane in the raw biogas created from anaerobic decomposit...
How the Company Makes Money
Greenlane Renewables makes money primarily by selling biogas upgrading systems and related project delivery services to RNG project developers and site owners. Its core revenue stream is equipment and system sales delivered under project contracts...
Greenlane Renewables Inc Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The earnings call reflects a positive outlook for Greenlane Renewables, with notable achievements in profitability, revenue growth, and product innovation. The strong cash position and increase in sales order backlog further support a favorable sentiment. However, the delay in revenue realization from the new Cascade LF system presents a challenge. Overall, the highlights significantly outweigh the lowlights.Positive Updates
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.
Negative Updates
Delayed Revenue from New Orders
Revenue from new orders of the Cascade LF system is not expected until 2026, indicating a delay in financial benefits from this product line.
Read all updates
Q3-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
In the third quarter of 2025, Greenlane Renewables reported strong financial performance, highlighted by a 10% increase in revenue to $11.6 million compared to Q3 2024. The company achieved a positive adjusted EBITDA of $0.5 million and a net income of $0.1 million, marking a significant improvement from last year's net loss of $2 million. Greenlane's gross margin before amortization rose to 39% from 34% the previous year, while general and administrative expenses declined by 5%. The sales order backlog expanded to $33.5 million, showing a 27% sequential increase from Q2 2025 and a 58% increase from Q1. The company maintained a healthy cash position, with $19.3 million on hand, up from $16.2 million at the end of 2024, partially due to a $1.2 million release of restricted cash. Greenlane also launched its Cascade LF upgrading technology, aimed at enhancing RNG output from landfill gas, and is expected to generate revenue starting in 2026.Greenlane Renewables Inc Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
72
Positive
Cash Flow
44
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 44.43M | 51.82M | 57.82M | 71.24M | 55.35M |
| Gross Profit | 17.95M | 15.43M | 14.38M | 14.93M | 12.89M |
| EBITDA | 1.93M | 655.00K | -11.15M | -3.05M | -868.00K |
| Net Income | -1.04M | -1.86M | -29.58M | -5.50M | -2.45M |
Balance Sheet | |||||
| Total Assets | 46.77M | 45.35M | 54.35M | 83.39M | 78.79M |
| Cash, Cash Equivalents and Short-Term Investments | 18.11M | 16.17M | 11.79M | 21.38M | 31.47M |
| Total Debt | 2.66M | 2.07M | 1.95M | 1.24M | 459.00K |
| Total Liabilities | 23.09M | 21.38M | 29.05M | 29.90M | 22.30M |
| Stockholders Equity | 23.67M | 23.98M | 25.30M | 53.48M | 56.48M |
Cash Flow | |||||
| Free Cash Flow | -1.08M | 4.54M | -9.20M | -475.00K | -10.69M |
| Operating Cash Flow | -453.00K | 4.62M | -9.00M | 40.00K | -10.48M |
| Investing Cash Flow | 296.00K | -53.00K | -311.00K | -9.91M | -217.00K |
| Financing Cash Flow | -385.00K | -278.00K | -265.00K | -231.00K | 25.72M |
Greenlane Renewables Inc Technical Analysis
Positive
0.24
Price Trends
0.23
Positive
0.24
Positive
0.21
Positive
Market Momentum
>-0.01
Positive
51.25
Neutral
60.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GRN, the sentiment is Positive. The current price of 0.24 is below the 20-day moving average (MA) of 0.24, above the 50-day MA of 0.23, and above the 200-day MA of 0.21, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 51.25 is Neutral, neither overbought nor oversold. The STOCH value of 60.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GRN.
Greenlane Renewables Inc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | C$39.65M | 6.78 | 18.99% | ― | -13.85% | -60.15% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | C$24.41M | 9.22 | 13.24% | ― | -3.45% | -104.92% | |
54 Neutral | C$37.50M | -34.71 | -4.33% | ― | -30.45% | ― | |
45 Neutral | C$482.55M | -21.37 | -114.59% | ― | -33.91% | -40.26% | |
44 Neutral | C$9.30M | -3.39 | -7.46% | ― | 87.15% | 47.74% | |
42 Neutral | C$14.77M | -4.72 | 399.66% | ― | 14.18% | -29.19% |
* Industrials Sector Average
TSE:GRN
Greenlane Renewables Inc
0.24
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Greenlane Renewables Inc Corporate Events
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Greenlane Renewables Returns to Positive EBITDA and Advances Next-Gen Landfill Gas Technology
Positive
Mar 13, 2026
Greenlane Renewables reported fiscal 2025 results showing a return to positive adjusted EBITDA of $2.3 million, an improvement of $4.0 million from the prior year, on annual revenue of $44.4 million and gross profit of $18.1 million. The company e...
Business Operations and StrategyProduct-Related Announcements
Greenlane Renewables Tops 500 Biogas Systems Sold as Next-Gen Product Line Nears Production
Positive
Feb 10, 2026
Greenlane Renewables has surpassed sales of 500 biogas desulfurization and upgrading systems across 32 countries, up sharply from more than 355 systems in 28 countries a year earlier. The expanding installed base underlines strong demand for its t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.