The following is a summary of the Greenlane Renewables Inc. (GRNWF) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Greenlane reported Q4 2023 revenue of $17.3 million, slightly higher than Q4 2022's $17 million.

• The company experienced a downtrend in its year-over-year revenue, ending 2023 with $57.8 million, 19% less than the previous year.

• Greenlane saw a slight dip in its Q4 2023 gross margin of 18% compared to 19% in Q4 2022. However, it reported a year-over-year improvement in its full-year gross margin excluding amortization, which was 25% in 2023 against 24% in 2022.

• The company accrued a net loss and comprehensive loss of $17.7 million in Q4 2023 and $29.4 million for the entire fiscal year 2023.

• As of December 31, 2023, Greenlane was debt-free with $11.8 million in cash and $16.7 million in working capital.

Business Progress:

• During 2023, the company advanced 28 active biogas upgrading projects and sealed $42.5 million in new sales contracts.

• Greenlane is shifting towards a configured-to-order business model to boost competitiveness and minimize costs.

• Prioritizing cost management and proficiency in supply chain execution is central to the company's strategy, along with product standardization and the ZEG Biogas agreement royalties.

• The company expects a positive adjusted EBITDA in 2024 and foresees considerable prospects in the maturing RNG market, particularly in Brazil and North America.

• The deal with ZEG Biogas to establish local industrial-scale volume production in Brazil should contribute to the company's revenue in 2024 with a new royalty-like business model.

More details: GREENLANE RENEWABLES INC IR

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