Greenlane Q1 Loss $18.4M; BERA-Per-Share Jumps 44% on Token Strategy
GNLN•Greenlane Holdings posted a $18.4 million net loss ($4.49 per share) on $448,000 revenue in Q1 2026, driven by a $12.9 million fair-value decline in its digital assets and $2.3 million of one-time costs. The firm held 77.7 million BERA tokens (cost $68.7M; fair value $34.2M), raising BERA-per-share 44%.
1. Q1 2026 Financial Results
Greenlane reported net revenue of $448,000 in Q1 2026, down 70% from $1.5 million in Q1 2025, and a net loss of $18.4 million, or $4.49 per Class A share, compared to a $3.9 million loss, or $2.54 per share, in the prior year period.
2. Digital Asset Treasury Strategy Execution
The company deployed $10.1 million into BERA tokens and $4.0 million into stablecoin-related protocol instruments, ending the quarter with 77.7 million BERA units at a cost basis of $68.7 million and a fair value of $34.2 million, boosting BERA-per-share by 44% to 123 units.
3. Fair Value Movement and One-Time Costs
Greenlane recognized a $12.9 million non-cash change in fair value of its digital assets due to market fluctuations and incurred $2.3 million of elevated legal, professional and advisory expenses related to its strategic transition, partially offset by $0.4 million of staking revenue.
4. Corporate Actions and Compliance
In April, the company executed a one-for-eight reverse stock split, regained compliance with Nasdaq’s minimum bid price requirement, and saw expiration of warrant and BERA lock-up agreements, securing its continued listing on the Nasdaq Capital Market.
