Greenlane Holdings, Inc. is a well-known name in the cannabis accessories and lifestyle product industry. Founded in 2005 and based in Boca Raton, Florida, the company has grown into one of the largest global distributors of premium vaporizers, smoking accessories, and packaging solutions. Greenlane stands out for supporting the legal cannabis industry through innovative, high-quality, and compliant products designed to enhance the consumer experience. Over the years, it has partnered with several leading brands, becoming a trusted supplier for retailers and consumers alike. However, in recent times, the company has faced financial challenges that have raised questions about its stability and long-term future.
History and Growth of Greenlane
Greenlane’s journey began with a mission to provide innovative smoking and vaping accessories that met the growing demand within the evolving cannabis market. During the early years, the company focused on distributing top-tier brands such as Storz & Bickel, PAX, and Grenco Science. As legalization spread across the United States, Greenlane quickly expanded its footprint and built a strong reputation for reliability and quality.
The company later diversified by launching its own house brands, including Eyce, Groove, and Higher Standards, all of which became popular among customers for their craftsmanship and durability. Greenlane also entered the packaging market with Pollen Gear, offering child-resistant and environmentally friendly cannabis packaging solutions.
Is Greenlane Holdings Going Out of Business?
Many investors and customers have been asking if Greenlane Holdings is going out of business. The short answer is no — but it’s struggling. The company has not declared bankruptcy or announced a shutdown. However, it has faced severe financial difficulties over the past few years, including falling revenue, declining stock prices, and compliance issues with the NASDAQ.
In 2024, Greenlane performed a 1-for-750 reverse stock split to regain compliance with NASDAQ’s minimum price requirement — a move typically made by companies in distress. Financial reports show that net sales dropped significantly compared to previous years, and the company has been forced to restructure operations to reduce costs.
Despite these challenges, Greenlane remains active. It continues to distribute products, operate e-commerce websites like Vapor.com, and pursue new strategies such as diversifying into health and wellness products. Still, its survival depends heavily on its ability to stabilize finances, restore investor confidence, and adapt to market changes.
What Products Does Greenlane Make
Greenlane’s main business revolves around cannabis-related accessories rather than cannabis itself. The company offers a diverse range of products designed for both consumers and dispensaries.
Its core product line includes:
- Vaporizers and inhalation devices (e.g., DaVinci, Groove, and Eyce brands)
- Smoking accessories, such as glass pipes, grinders, and rolling papers
- Child-resistant and sustainable packaging solutions under the Pollen Gear brand
- Lifestyle and storage products, including cleaning kits, cases, and odor-proof bags
In addition to distributing partner brands, Greenlane also develops and markets its own proprietary brands, giving it more control over pricing and product innovation. These products serve both the recreational and medical cannabis communities, emphasizing safety, convenience, and design.
Greenlane Present Scenario
Currently, Greenlane is navigating a tough business environment. The company has seen its market share shrink due to increased competition, declining consumer spending, and regulatory uncertainty in the cannabis industry. Its revenue for 2024 was significantly lower than in previous years, leading to concerns among investors.
To cope, Greenlane has been restructuring — cutting costs, consolidating warehouses, and streamlining product lines. The management is also exploring new opportunities in digital assets and wellness-related products, signaling a shift from its traditional business focus.
How Many Greenlane Locations Are Currently Operational?
Unlike a traditional retail chain, Greenlane does not operate a large number of physical stores. Instead, it primarily functions through distribution centers and e-commerce platforms. The company’s main operations are headquartered in Boca Raton, Florida, with additional warehouses and offices in California, Canada, and Europe.
Through its logistics network, Greenlane serves thousands of retail partners and customers worldwide. The company’s e-commerce sites, such as Vapor.com and PuffItUp.com, allow it to reach global audiences without relying heavily on brick-and-mortar stores.
Impact of Greenlane on Customers
Greenlane has played a major role in shaping the modern cannabis accessories market. Its commitment to quality, compliance, and design has helped elevate the perception of cannabis products from niche items to mainstream lifestyle goods.
For retailers, Greenlane provides a reliable supply chain, ensuring access to premium brands and compliant packaging solutions. For consumers, it offers trusted products that combine function and style. Its impact extends beyond commerce — by normalizing cannabis accessories and supporting safe consumption, Greenlane has contributed to the broader acceptance of legal cannabis culture.
Greenlane Future Prospects
Looking ahead, Greenlane’s future is uncertain but not hopeless. The company’s survival depends on its ability to stabilize revenue, reduce debt, and successfully pivot its strategy. Its plan to expand into adjacent markets like digital assets and wellness products could help diversify income streams, but it also introduces new risks.
Conclusion
In conclusion, Greenlane Holdings is not out of business, but it is clearly going through one of the toughest phases in its history. Once a pioneer in the cannabis accessories industry, the company now faces financial strain and strategic uncertainty. Still, Greenlane’s strong brand recognition, loyal customer base, and diverse product range provide a foundation for potential recovery.
If the company can execute its restructuring plan effectively and continue to innovate, it may regain stability and thrive once again in the fast-growing cannabis accessories market.
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