Greenlane Renewables Inc (TSE:GRN)
TSX:GRN
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Greenlane Renewables Inc
(TSX:GRN)
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Rating:44Neutral
Price Target:
C$0.21
▼(-12.92% Downside)
Action:Reiterated
Date:05/16/26
The score is held down primarily by negative operating/free cash flow and ongoing net losses, despite clear operating improvement (positive EBIT/EBITDA, solid gross margins) and a conservatively levered balance sheet. Technicals also reflect a weak trend with the stock trading below major moving averages.
Positive Factors
High gross margin & improving operating profitability
Sustained gross margins near 40.7% and positive EBIT/EBITDA indicate the core upgrade systems business generates healthy unit economics. Durable margins provide a buffer vs. project timing, support reinvestment in R&D and aftermarket support, and make path to sustained net profitability more feasible.
Negative Factors
Negative operating and free cash flow
A recent swing to negative operating and free cash flow shows working capital and investment needs are consuming cash despite improved accounting profits. Persistent cash burn reduces financial flexibility, raises funding risk for project backlog, and could force external financing that dilutes or increases costs.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin & improving operating profitability
Sustained gross margins near 40.7% and positive EBIT/EBITDA indicate the core upgrade systems business generates healthy unit economics. Durable margins provide a buffer vs. project timing, support reinvestment in R&D and aftermarket support, and make path to sustained net profitability more feasible.
Read all positive factors
Greenlane Renewables Inc (GRN) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$35.90M
Dividend YieldN/A
Average Volume (3M)235.24K
Price to Earnings (P/E)―
Beta (1Y)1.99
Revenue Growth15.41%
EPS Growth-23.30%
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 primarily makes money by selling biogas upgrading systems and related project deliverables to customers developing RNG/biomethane projects. Its core revenue stream is equipment/system sales tied to project contracts, which can include pr...
Greenlane Renewables Inc Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 12, 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
48
Neutral
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 46.97M | 44.43M | 51.82M | 57.82M | 71.24M | 55.35M |
| Gross Profit | 19.30M | 17.95M | 15.43M | 14.38M | 14.93M | 12.89M |
| EBITDA | 1.52M | 1.93M | 655.00K | -11.15M | -3.05M | -868.00K |
| Net Income | -2.03M | -1.04M | -1.86M | -29.58M | -5.50M | -2.45M |
Balance Sheet | ||||||
| Total Assets | 44.33M | 46.77M | 45.35M | 54.35M | 83.39M | 78.79M |
| Cash, Cash Equivalents and Short-Term Investments | 13.85M | 18.11M | 16.17M | 11.79M | 21.38M | 31.47M |
| Total Debt | 2.55M | 2.66M | 2.07M | 1.95M | 1.24M | 459.00K |
| Total Liabilities | 22.55M | 23.09M | 21.38M | 29.05M | 29.90M | 22.30M |
| Stockholders Equity | 21.78M | 23.67M | 23.98M | 25.30M | 53.48M | 56.48M |
Cash Flow | ||||||
| Free Cash Flow | -1.94M | -1.08M | 4.54M | -9.20M | -475.00K | -10.69M |
| Operating Cash Flow | -1.30M | -453.00K | 4.62M | -9.00M | 40.00K | -10.48M |
| Investing Cash Flow | -1.28M | 296.00K | -53.00K | -311.00K | -9.91M | -217.00K |
| Financing Cash Flow | -408.00K | -385.00K | -278.00K | -265.00K | -231.00K | 25.72M |
Greenlane Renewables Inc Technical Analysis
Negative
0.24
Price Trends
0.23
Negative
0.23
Negative
0.24
Negative
Market Momentum
>-0.01
Positive
43.62
Neutral
36.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GRN, the sentiment is Negative. The current price of 0.24 is above the 20-day moving average (MA) of 0.23, above the 50-day MA of 0.23, and above the 200-day MA of 0.24, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.62 is Neutral, neither overbought nor oversold. The STOCH value of 36.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | C$51.41M | 49.28 | 37.34% | ― | 22.66% | 78.65% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | C$28.17M | 22.52 | 13.24% | ― | 9.19% | 711.11% | |
52 Neutral | C$669.49M | -74.93 | -82.91% | ― | -6.54% | -47.73% | |
49 Neutral | C$7.78M | -2.58 | -7.46% | ― | -19.72% | 6.79% | |
47 Neutral | C$24.62M | -2.85 | 399.66% | ― | 40.39% | 8.97% | |
44 Neutral | C$35.90M | -4.68 | -4.33% | ― | 15.41% | -23.30% |
* Industrials Sector Average
TSE:GRN
Greenlane Renewables Inc
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Greenlane Renewables Inc Corporate Events
Business Operations and Strategy
Greenlane Technology Powers New Brazilian Biomethane Hub at Ecoparque Jaboatão
Positive
Mar 27, 2026
Greenlane Renewables’ customer Orizon Valorização de Resíduos has inaugurated a new biomethane plant at Ecoparque Jaboatão in Pernambuco, Brazil, featuring a complete biogas upgrading system supplied by Greenlane. The pro...
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...
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.