Greenlane Holdings, Inc. (GNLN): Marketing Mix Analysis [Dec-2025 Updated]

You've seen the headlines, and honestly, the story of Greenlane Holdings, Inc. as of late 2025 is one of the most dramatic pivots I've tracked in my two decades analyzing this space: a legacy cannabis accessory distributor is now fundamentally a digital-asset treasury play centered on the BERA token. It's a massive shift, especially when you see Q3 net sales from the old business fell a staggering 81.75% year-over-year, forcing a huge inventory reserve that tanked the gross margin. So, is the value still in their Vapor.com e-commerce or in their new capital structure? To make an informed call, you need to see how every element of their marketing mix-from Product to Price-has been completely redrawn for this new reality, and we've broken down the four P's right here for you.

Greenlane Holdings, Inc. (GNLN) - Marketing Mix: Product

Greenlane Holdings, Inc.'s product element centers on its established physical goods portfolio alongside a significant strategic shift into digital assets as a treasury reserve.

Premium cannabis accessories, vape devices, and lifestyle products are the legacy core.

The financial performance of the legacy product lines for the quarter ended September 30, 2025, shows a substantial contraction compared to the prior year period.

Owns a diverse brand portfolio plus licensed Marley Natural and K. Haring products.

Greenlane Holdings, Inc. operates as a global platform for the development and distribution of premium consumer goods accessories and lifestyle products. The owned portfolio includes:

• Diverse brand portfolio.
• Exclusively licensed Marley Natural branded products.
• Exclusively licensed K. Haring branded products.

New distribution agreement with Greentank Technologies for U.S. vaporizers and cartridges.

Greenlane Holdings, Inc. entered into a distribution agreement with Greentank Technologies on May 21, 2025. This agreement covers the distribution of Greentank's full assortment of vaporizers and cartridges in the U.S. Furthermore, Greenlane Holdings, Inc. renewed its distribution agreement with PAX on June 4, 2025, maintaining U.S. distribution for PAX's dry herb device portfolio, which includes the PAX MINI and PAX PLUS.

Strategic pivot to BERA token as the principal digital-asset treasury reserve.

Greenlane Holdings, Inc. announced a $110 million private investment in public equity (PIPE) transaction on October 20, 2025, to initiate a Berachain (BERA) Cryptocurrency Treasury Strategy. The transaction closed on October 23, 2025, and delivered approximately $24.3 million of net cash proceeds and approximately $19.0 million of stablecoin proceeds. This resulted in holdings of approximately 54.2 million BERA as of October 23, 2025. The financing involved the sale of Class A common stock at $3.84 per share and pre-funded warrants at $3.83 per pre-funded warrant.

Legacy distribution business continues but is focused on inventory monetization.

In connection with the transition toward a capital-light, IP-driven operating model, Greenlane Holdings, Inc. recorded a $5.0 million non-cash inventory reserve in Q3 2025. The company intends to use proceeds from the recent financing to acquire BERA tokens, making it the primary treasury reserve asset, while continuing operations focused on monetizing legacy inventory.

Greenlane Holdings, Inc. (GNLN) - Marketing Mix: Place

You're looking at how Greenlane Holdings, Inc. gets its premium cannabis accessories, packaging, and lifestyle products into the hands of customers across its entire ecosystem. The Place strategy here is about being everywhere the target customer shops, which means a heavy focus on an omnichannel distribution platform for both B2B and direct-to-consumer (DTC) sales. This dual approach is key to maximizing market reach in the fragmented cannabis ancillary space.

The B2B network is the backbone, serving a vast customer base. As of early 2025 filings, Greenlane Holdings, Inc. reached thousands of retail locations, which includes licensed cannabis dispensaries, smoke shops, head shops, and specialty retailers. This network was further enhanced in 2025 by launching on the Mainstem B2B procurement marketplace platform in March 2025, aiming for enhanced accessibility within a data-driven ecosystem to reach single and multi-state operators (MSOs) and brick-and-mortar stores. The focus on wholesale customer acquisition showed traction in Q2 2025, with the company adding 12 new multi-state operator accounts.

For direct-to-consumer access, Greenlane Holdings, Inc. utilizes proprietary e-commerce sites. You see their primary DTC storefronts including Vapor.com and HigherStandards.com, alongside PuffItUp.com and MarleyNaturalShop.com. To streamline operations, Greenlane Holdings, Inc. consolidated its digital e-commerce presence onto a single platform, a move reported in August 2025 to result in improved efficiencies and reduced cost. In July 2025, they selected JointCommerce as their B2C e-commerce digital marketing platform to accelerate brand growth. Furthermore, they extended their DTC reach by being appointed the exclusive fulfillment platform for the Safety Strips direct-to-consumer e-commerce store.

Greenlane Holdings, Inc. also supports brand partners through programs designed to accelerate their go-to-market speed. While specific revenue breakdowns aren't public, the structure includes offering private-label programs, leveraging their own diverse brand portfolio alongside exclusively licensed products like Marley Natural and K. Haring. The company also focuses on inventory monetization to accelerate the disposition of aged inventory as part of its transition to a capital-light, IP-driven operating model.

Here's a quick look at the scale of the distribution footprint and recent operational context:

The overall scale of the distribution business, as reflected in the latest reported financials before the full transition to the treasury strategy, shows the volume being moved. For the third quarter ending September 30, 2025, total revenue from premium cannabis accessories, vape devices, and lifestyle products was $0.74 million. This revenue figure is set against a backdrop where the last reported common stock price on March 20, 2025, was $0.46 per share.

The Place strategy is clearly segmented to cover all bases:

• Distribute via an omnichannel platform for both B2B and DTC.
• Serve thousands of specialty retailers and smoke shops through the B2B network.
• Drive DTC sales through proprietary sites like Vapor.com.
• Offer private-label programs to streamline brand go-to-market.
• Achieve efficiency by consolidating digital e-commerce to one platform.

Finance: review the Q3 2025 inventory reserve of $5.0 million against the distribution segment's revenue of $0.74 million to assess inventory turnover velocity by Friday.

Greenlane Holdings, Inc. (GNLN) - Marketing Mix: Promotion

You're looking at how Greenlane Holdings, Inc. is getting its message out there as of late 2025. The promotion efforts are clearly bifurcated, targeting both the core B2B distribution business and a new, high-profile digital asset strategy.

For the established B2B brands, including Greenlane Wholesale and KushCo, the promotion is now being driven by a new marketing strategy led by Cannabis Creative Group (CCG). CCG began work in Q2 2025. The focus is explicitly on driving campaigns for new customer acquisition and wholesale retargeting. This strategic shift in agency partnership is meant to reintroduce iconic brands and connect with customers through omnichannel media solutions.

The early results from this B2B promotion focus are quantifiable:

• Q2 2025 saw an approximately 880% increase in new customer revenue month-over-month from June to July.
• Greenlane Holdings, Inc. added 12 new multi-state operator (MSO) accounts in Q2 2025.
• There was also an approximate 40% increase in revenue for new customers month-over-month from July to August (MTD).
• 19 accounts were reactivated following the new infrastructure rollout.

Separately, a major promotional push is centered on the new BERA treasury strategy. This promotion targets institutional and crypto investors, signaling a significant pivot in corporate communication. The promotion of this strategy was immediately followed by market reaction, with Greenlane Holdings, Inc. stock rising 30% in premarket trading following the October 20, 2025, announcement.

The financial underpinning of this promotional strategy is a $110 million private investment in public equity (PIPE) transaction, announced on October 20, 2025, and expected to close around October 23, 2025. This capital is intended to acquire BERA, the native cryptocurrency of the Berachain blockchain, establishing it as the primary treasury reserve asset.

Here are the key financial and investor details related to the BERA promotion:

The communication around this move also included executive appointments to lead the strategy, with Ben Isenberg joining as Chief Investment Officer for BeraStrategy, and Bruce Linton joining the board as Chairman. This entire narrative is a form of promotion, designed to signal a new direction to the capital markets.

The promotional activities for the B2B segment and the digital asset strategy utilize different channels, but both are designed to drive specific, measurable outcomes for Greenlane Holdings, Inc.

Greenlane Holdings, Inc. (GNLN) - Marketing Mix: Price

You're looking at the pricing element of Greenlane Holdings, Inc. (GNLN) as of late 2025, which is now a bifurcated story: the winding down of the legacy distribution business and the establishment of a new digital asset treasury model. The pricing power in the old model was clearly eroding, evidenced by the Q3 2025 performance.

The legacy segment's financial reality is stark. Q3 2025 net sales from the legacy business fell to $0.74 million, down 81.75% year-over-year. To be fair, this steep decline was compounded by internal accounting decisions related to the pivot. Q3 2025 gross margin was (692%) due to a $5.0 million non-cash inventory reserve. This reserve was taken against aged legacy products as management worked to clear the books.

The immediate pricing strategy for the remaining physical goods is aggressive inventory monetization to dispose of aged legacy stock. This is a liquidation focus, not a margin focus, aiming to free up capital and remove carrying costs. The net loss for the quarter reflected this pressure, widening to $(8.93) million.

The core of the new pricing and value proposition is tied to the BERA digital asset. The new capital structure, solidified in an October 23, 2025 private placement, includes approximately 54.2 million BERA tokens for yield generation. This placement raised capital at prices around $3.84 per share/warrant, with $60 million of the total $110 million raise coming in the form of BERA tokens themselves.

Valuation is now heavily influenced by the price and staking yield of the BERA digital asset. The company's cash position at the end of Q3 was thin at $1.81 million, but the post-quarter raise provided significant runway, including approximately $24.3 million in net cash proceeds and $19.0 million in stablecoins, all intended to support the BERA-centric treasury strategy.

Here's a quick look at the capital structure shift that dictates the new pricing narrative:

The strategy is to use the BERA holdings to generate yield via staking, which becomes the primary driver of future enterprise value, effectively replacing the traditional product pricing model with a digital asset yield model. This shift means that the perceived value of Greenlane Holdings, Inc. is now less about the price of a vape device and more about the performance of its underlying digital asset holdings.

Consider the components driving the new pricing perception:

• Price discovery tied to BERA market performance.
• Expected yield generation from BERA staking activities.
• The execution risk of the new BeraStrategy arm.
• The final disposition price of aged legacy inventory.
• The initial private placement price points around $3.84 per share/warrant.

Finance: draft 13-week cash view by Friday.