Greenlane Renewables Inc (GRN) AI Stock Analysis

• Market Cap: C$37.92M
• Dividend Yield: N/A
• Average Volume (3M): 235.24K
• Price to Earnings (P/E): 16.0
• Beta (1Y): 2.51
• Revenue Growth: -30.45%
• EPS Growth: N/A
• Country: CA
• Employees: 92
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Pollution & Treatment Controls
• EPS (TTM): 0.00
• Shares Outstanding: 158,000,430
• 10 Day Avg. Volume: 171,558
• 30 Day Avg. Volume: 235,244
• PEG Ratio: 0.08
• Price to Book (P/B): 0.58
• Price to Sales (P/S): 0.27
• P/FCF Ratio: 3.06
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.2
• Revenue Forecast (FY): C$227.07M

• Rating: 63 Neutral
• Price Target: C$0.22 ▼(-6.67% Downside)
• Action: Reiterated Date: 01/04/26
• Date: Action: Reiterated 01/04/26

The score is driven primarily by improving fundamentals (return to profitability and stronger margins, with low leverage) and a positive earnings-call backdrop (profitability, growing backlog, strong cash). These positives are tempered by inconsistent top-line performance and less durable cash-flow trends, while technical signals remain mostly neutral-to-soft.

Positive Factors

Profitability Turnaround

Sustained profitability over consecutive quarters indicates the company has moved past prior losses and can cover operating costs. This durability improves reinvestment capacity, reduces reliance on external financing, and enhances credibility with customers and suppliers, supporting long-term project execution.

Improved Margins

Higher and recovering gross margins reflect better pricing, product mix, or operational efficiency in system delivery. Sustained margin expansion increases long-term cash conversion on projects, strengthens profitability resilience across project cycles, and supports funding of growth initiatives and aftermarket services.

Conservative Balance Sheet & Cash

A low-debt capital structure and a healthy cash cushion give the company flexibility to fund project working capital, invest in R&D and new product rollouts, and absorb project timing swings without costly refinancing. This structural strength reduces solvency risk.

Negative Factors

Inconsistent Top-line Growth

Material year-over-year revenue decline and a history of volatility indicate the business remains sensitive to project timing and contract cadence. Persistent top-line inconsistency makes long-term planning, scaling aftermarket revenue, and justifying fixed-cost investments more difficult for sustained growth.

Weak Cash-flow Durability

Although current TTM cash generation is positive, sharp declines and a pattern of past negative operating and free cash flow show cash conversion is volatile. This raises execution risk on project delivery and constrains reinvestment without stable, repeatable cash flows.

Revenue Timing Risk from New Product

The new Cascade LF system is a strategic product, but delayed revenue realization defers cash and profit benefits. Reliance on future deliveries amplifies backlog conversion risk and exposes results to execution, customer financing and permitting timelines over the coming 12–24 months.

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 decomposition of organic waste at landfills, wastewater treatment plants, and farms and for injection food waste facilities into the natural gas grid or for direct use as vehicle fuel. It offers water wash, pressure swing adsorption, and membrane separation technologies. The company markets and sells its upgrading systems under the Greenlane Biogas brand. The company was formerly known as Creation Capital Corp. and changed its name to Greenlane Renewables Inc. in June 2019. Greenlane Renewables Inc. was founded in 1986 and is headquartered in Burnaby, Canada.

How the Company Makes Money

Greenlane Renewables generates revenue primarily through the sale of its biogas upgrading systems and related technology solutions. Key revenue streams include system sales, which involve the provision of equipment and technology for biogas upgrading projects, and ongoing service contracts that cover maintenance and support for these systems. Additionally, the company may earn revenue from partnerships with various stakeholders in the renewable energy sector, including municipalities and private enterprises investing in RNG projects. Greenlane's financial performance can also be influenced by government policies promoting renewable energy and waste management solutions, as well as the growing demand for sustainable energy sources globally.

Greenlane Renewables Inc Financial Statement Overview

Summary

A clear turnaround is underway with TTM profitability and improved gross margin (~42%), plus low leverage supporting financial flexibility. Offsetting this, TTM revenue is down versus 2024 and free cash flow has weakened sharply from 2024, highlighting ongoing volatility and still-developing cash-flow durability.

Income Statement

Profitability has improved materially: TTM (Trailing-Twelve-Months) net income is positive ($2.35M) versus losses in 2024 and 2023, and margins rebounded with a stronger gross margin (~42% TTM vs ~30% in 2024). The main offset is growth quality—TTM revenue is down versus 2024 ($42.2M vs $51.8M), even though the TTM period shows a strong growth rate in the dataset, suggesting results may be volatile or mix-driven. Overall, earnings momentum is better, but top-line consistency remains a key weakness.

Balance Sheet

The balance sheet looks conservatively financed, with low leverage (debt-to-equity ~0.10 TTM; similarly low in prior years). Equity remains sizeable relative to assets, providing flexibility. Returns are improving (ROE ~9.7% TTM) after negative ROE in 2024 and especially 2023, but the business has a track record of earnings variability, which is the primary risk despite the low debt load.

Cash Flow

Cash generation is currently positive with TTM (Trailing-Twelve-Months) operating cash flow of $2.8M and free cash flow of $2.6M, and free cash flow broadly tracks reported earnings (free cash flow to net income ~0.95 TTM). However, free cash flow declined sharply versus 2024 (negative growth of ~61%), and the company has a history of negative operating and free cash flow in 2023 and 2021, indicating cash flow durability is still developing.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	42.15M	51.82M	57.82M	71.24M	55.35M	22.50M
Gross Profit	17.63M	15.43M	14.38M	14.93M	12.89M	6.42M
EBITDA	6.09M	655.00K	-11.15M	-3.05M	-868.00K	-528.00K
Net Income	2.35M	-1.86M	-29.58M	-5.50M	-2.45M	-2.47M
Balance Sheet
Total Assets	47.30M	45.35M	54.35M	83.39M	78.79M	43.17M
Cash, Cash Equivalents and Short-Term Investments	19.27M	16.17M	11.79M	21.38M	31.47M	16.44M
Total Debt	2.50M	2.07M	1.95M	1.24M	459.00K	6.64M
Total Liabilities	22.47M	21.38M	29.05M	29.90M	22.30M	17.30M
Stockholders Equity	24.84M	23.98M	25.30M	53.48M	56.48M	25.87M
Cash Flow
Free Cash Flow	2.63M	4.54M	-9.20M	-475.00K	-10.69M	-2.10M
Operating Cash Flow	2.79M	4.62M	-9.00M	40.00K	-10.48M	-2.04M
Investing Cash Flow	771.00K	-53.00K	-311.00K	-9.91M	-217.00K	-53.00K
Financing Cash Flow	-348.00K	-278.00K	-265.00K	-231.00K	25.72M	16.27M

Greenlane Renewables Inc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.24
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 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 0.20, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 56.38 is Neutral, neither overbought nor oversold. The STOCH value of 63.64 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BRM	68 Neutral	C$43.35M	20.43	19.05%	―	-13.85%	-60.15%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GRN	63 Neutral	C$37.92M	16.00	10.00%	―	-30.45%	―
TMG	59 Neutral	C$26.46M	51.67	-1.51%	―	-3.45%	-104.92%
ACT	53 Neutral	C$472.23M	-22.20	-114.59%	―	-33.91%	-40.26%
QST	44 Neutral	C$8.33M	-5.20	-7.42%	―	87.15%	47.74%
SHRC	42 Neutral	C$17.24M	-4.39	―	―	14.18%	-29.19%

Greenlane Renewables Inc Corporate Events

Greenlane Renewables Promotes Dale Goudie to Chief Technology Officer

Greenlane Renewables Inc. has announced the promotion of Dale Goudie to Chief Technology Officer. With 30 years of engineering experience, Goudie has been instrumental in developing Greenlane’s Cascade LF landfill gas upgrading system and expanding the company’s patent portfolio. His promotion reflects his leadership and innovative contributions, which have positioned Greenlane as a technology leader in the renewable natural gas market. As CTO, Goudie will continue to drive technological advancements and commercialization efforts that support global decarbonization, strengthening Greenlane’s leadership in biogas desulfurization and upgrading solutions.

The most recent analyst rating on (TSE:GRN) stock is a Hold with a C$0.24 price target. To see the full list of analyst forecasts on Greenlane Renewables Inc stock, see the TSE:GRN Stock Forecast page.

Greenlane Renewables Reports Strong Q3 2025 Results and Launches New Technology

Greenlane Renewables reported positive financial results for the third quarter of 2025, with a revenue increase to $11.6 million and a positive adjusted EBITDA of $0.5 million. The company has launched its next-generation landfill gas upgrading technology, Cascade LF, which is expected to drive future growth. The sales order backlog has significantly increased, and the company is on track with its strategic initiatives for 2025, positioning itself for long-term value creation for shareholders and customers.

The most recent analyst rating on (TSE:GRN) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Greenlane Renewables Inc stock, see the TSE:GRN Stock Forecast page.

Greenlane Renewables to Release Q3 2025 Financial Results

Greenlane Renewables Inc. will release its third quarter 2025 financial results on November 13, 2025, after market close. The announcement will be followed by a video presentation by the CEO and CFO discussing the results. This release is significant for stakeholders as it provides insights into the company’s financial health and its ongoing efforts in the energy transition sector.