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Greenlane Renewables Inc (GRN) AI Stock Analysis
Greenlane Renewables Inc
(TSX:GRN)
The overall score is held down primarily by fragile financial performance, characterized by declining revenue, persistent operating and net losses, ongoing cash burn, and erosion of equity despite a low‑risk balance sheet. Weak technicals, with the share price below key moving averages and momentum indicators pointing to a sustained downtrend and high volatility, further weigh on the rating. Valuation metrics are not compelling given the negative P/E and lack of dividend, meaning investors are paying for future potential rather than current earnings, while the positive earnings‑call developments, strategic partnerships, TAM expansion and recent commercial orders provide meaningful but still early‑stage offsets that do not yet overcome the core profitability and execution challenges.
Greenlane Renewables Inc (GRN) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 27.16M
- Dividend Yield
- ―
- Average Volume (3M)
- 80.87K
- Price to Earnings (P/E)
- -6.3
- Beta (1Y)
- 1.92
- Revenue Growth
- 5.01%
- EPS Growth
- -3122.22%
- Country
- Canada
- Employees
- 113
- Sector
- Industrials
- Sector Strength
- 63
- Industry
- Independent Power Producers
Greenlane Renewables Inc Business Overview & Revenue Model
Company Description
Greenlane Renewables Inc. provides biogas desulfurization and upgrading systems and services worldwide. Its systems produce clean; renewable natural gas from organic-waste sources, including landfills, sugar mills, dairy farms, wastewater, and food w...
How the Company Makes Money
Greenlane Renewables primarily makes money by selling biogas upgrading systems and related equipment to project developers and site owners that produce renewable natural gas. Its core revenue stream is project-based: customers contract Greenlane to s...
Greenlane Renewables Inc Earnings Call Summary
The call conveyed materially positive strategic and technical progress — notably the Panasonic manufacturing partnership, successful linear NRU tests demonstrating superior methane recovery, a clear TAM estimate ($600M), a return to positive adjusted EBITDA and a healthy balance sheet (CAD $12.1M cash, no debt). Offsetting factors include reported YoY revenue/adjusted EBITDA declines driven by prior-year one-time items, a sequential backlog decline, increased R&D spend (+100% YoY) and timing/execution risk as production readiness and commercial revenue for Cascade LF remain future milestones. On balance, the operational and technical milestones and improved profitability indicators outweigh the short-term financial and timing headwinds.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Management guided to production readiness for the next‑generation Cascade LF (and Cascade MS) by year‑end 2026, framed a total addressable market of roughly $600 million annually (two products across Brazil, U.S. and Canada — ~14x last year’s revenue), announced a Panasonic Brazil manufacturing partnership with initial investments of BRL 8–10 million (CAD 2–3 million), and highlighted successful linear NRU testing (noting each 1% improvement in methane recovery yields a 1% revenue increase); Q2 metrics cited included a 41% gross margin before amortization, a return to positive adjusted EBITDA, R&D of ~$0.8 million, $12.1 million cash, no debt, a $25.6 million sales order backlog (service/spare parts excluded) and a $0.9 million YoY improvement in system sales from desulfurization — all set against market context figures (U.S. landfills produce 64% of U.S. RNG from ~600 sites, 20 new landfill projects in 2025 added ~40 billion cubic feet or ~75% of 2025 biogas capacity additions, ~700 additional suitable landfills; Europe installed biomethane capacity 8.2 bcm, +17% YoY, with EUR 36 billion committed vs. EUR 28 billion prior and projected incremental additions of ~9 bcm by 2030, EU27 potential 31–32 bcm in 2030 and 163–184 bcm by 2050).
Greenlane Renewables Inc Financial Statement Overview
Summary
Revenue is declining, the business has returned to operating losses, and cash generation is weak and volatile, with negative operating and free cash flow in the latest TTM and most recent years, leaving the company still loss‑making and cash‑consuming despite improved gross margins and one strong cash flow year. The balance sheet is conservatively financed with very low debt, but repeated losses since 2021 have eroded equity and reduced the asset base, making the overall financial profile fragile and heavily dependent on successfully converting margin improvements into sustained profitability and positive cash flow.
Income Statement
32NegativeBalance Sheet
58NeutralCash Flow
30Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 43.21M | 44.43M | 51.82M | 57.82M | 71.24M | 55.35M |
| Gross Profit | 16.51M | 17.95M | 15.43M | 14.38M | 14.93M | 12.89M |
| EBITDA | -1.67M | 1.93M | 655.00K | -10.90M | -3.05M | -868.00K |
| Net Income | -4.33M | -1.04M | -1.86M | -29.58M | -5.50M | -2.45M |
Balance Sheet | ||||||
| Total Assets | 41.85M | 46.77M | 45.35M | 54.35M | 83.39M | 78.79M |
| Cash, Cash Equivalents and Short-Term Investments | 12.09M | 18.11M | 16.17M | 11.79M | 21.38M | 31.47M |
| Total Debt | 2.46M | 2.66M | 2.07M | 1.95M | 1.24M | 459.00K |
| Total Liabilities | 20.80M | 23.09M | 21.38M | 29.05M | 29.90M | 22.30M |
| Stockholders Equity | 21.05M | 23.67M | 23.98M | 25.30M | 53.48M | 56.48M |
Cash Flow | ||||||
| Free Cash Flow | -4.20M | -1.08M | 4.54M | -9.20M | -475.00K | -10.69M |
| Operating Cash Flow | -3.60M | -453.00K | 4.62M | -9.00M | 40.00K | -10.48M |
| Investing Cash Flow | -1.24M | 296.00K | -53.00K | -311.00K | -9.91M | -217.00K |
| Financing Cash Flow | -418.00K | -385.00K | -278.00K | -265.00K | -231.00K | 25.72M |
Greenlane Renewables Inc Technical Analysis
Price Trends
Market Momentum
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 0.17 is above the 20-day moving average (MA) of 0.17, below the 50-day MA of 0.18, and below the 200-day MA of 0.22, indicating a neutral trend. The MACD of -0.00 indicates Negative momentum. The RSI at 48.51 is Neutral, neither overbought nor oversold. The STOCH value of 86.67 is Negative, 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
Overall Rating
TSE:BRM80Outperform
TSE:TMG60Neutral
TSE:QST48Neutral- TSE:GRN46.6Neutral
TSE:SHRC41Neutral
TSE:ACT39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:BRM | 80Outperform | CAD 59.52M | 9.49 | 41.45% | ― | 32.16% | 94.55% |
| Sector * | 63Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
| TSE:TMG | 60Neutral | CAD 26.50M | 32.98 | 16.53% | ― | 16.89% | ― |
| TSE:QST | 48Neutral | CAD 7.08M | -2.31 | -16.34% | ― | -74.07% | -251.51% |
| TSE:GRN | 47Neutral | CAD 27.17M | -6.25 | -18.95% | ― | 5.01% | -3122.22% |
| TSE:SHRC | 41Neutral | CAD 14.04M | -3.92 | 109.61% | ― | -22.75% | 5.86% |
| TSE:ACT | 39Underperform | CAD 508.04M | -23.86 | -51.78% | ― | -44.40% | -8.31% |
* Industrials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:GRN | Greenlane Renewables | 0.17 | -0.09 | -34.62% | |
| TSE:BRM | Biorem Inc | 3.65 | 1.62 | 79.80% | |
| TSE:SHRC | Sharc International Systems Inc. | 0.09 | 0.01 | 6.25% | |
| TSE:QST | Questor Technology | 0.26 | -0.21 | -45.16% | |
| TSE:TMG | Thermal Energy International | 0.15 | 0.02 | 19.23% | |
| TSE:ACT | Aduro Clean Technologies Inc. | 14.20 | -5.49 | -27.88% |
Greenlane Renewables Inc Corporate Events
Greenlane Renewables to Highlight RNG Growth Strategy at Smallcap Discoveries Conference
PositiveGreenlane Renewables Inc. will present at the 2026 Annual Smallcap Discoveries Conference in Vancouver on September 28, where CEO Brad Douville is set to outline the firm’s strategy and recent business developments. His presentation will highli...
Greenlane Renewables Wins $2.5 Million Cascade H2S Order to Expand North American RNG Footprint
PositiveGreenlane Renewables has secured approximately $2.5 million in equipment and service contracts from an existing U.S. customer that operates renewable natural gas-producing assets.The deal expands the installed base of Greenlane’s proprietary Ca...
Greenlane Renewables Posts Positive Q2 Adjusted EBITDA and Advances Next-Gen Landfill Gas Technology
PositiveGreenlane Renewables reported second-quarter 2026 revenue of $11.3 million with gross profit of $4.4 million and a modestly positive adjusted EBITDA, despite a net loss of $0.9 million, supported by a $25.6 million sales order backlog and $12.1 milli...
Greenlane Renewables Sets Date for Q2 2026 Financial Results and Investor Update
PositiveGreenlane Renewables said it will release its financial results for the second quarter ended June 30, 2026 after markets close on August 13, 2026. Following the release, Chief Executive Officer Brad Douville and Chief Financial Officer Stephanie Maso...
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.
Date of analysis: Oct 06, 2026