Greenlane Holdings, Inc.

Good morning and welcome to today's conference call to discuss Green Lane Holdings first quarter 2022 financial results. A press release detailing the financial results for the quarter ended March 31, 2022 and was distributed earlier this morning and is available on the investor relations section of the Green Lane website at investor.gnln.com. As a reminder, today's conference is being recorded. A replay of this call, as well as a copy of the supplemental earnings slides, will be archived on the company's IR website at investor.gnln.com. On the call today are Nick Kovacevic, Chief Executive Officer, Bill Mote, Outgoing Chief Financial Officer, and Darsh Dhaiya, Chief Accounting Officer. Before we begin, Greenlow would like to remind listeners that today's prepared remarks may contain forward-looking statements and management may make additional forward-looking statements in response to the questions received. These statements do not guarantee future performance, and therefore undue reliance should not be placed on them. These statements are based on current expectations of the company's management and involve inherent risks and uncertainties and other factors discussed in today's press release. This call also contains time-sensitive information that speaks only as of the date of this live broadcast, May 17, 2022. Factors that could cause Green Lane's results to differ materially are set forth in today's press release and in Green Lane's annual report on Form 10-K for the year ended December 31, 2021, and quarterly report on Form 10-Q for the three months ended March 31, 2022, previously filed with the SEC. Any forward-looking statements made today on this call are based on assumptions as of today and Greenlane assumes no obligation to update these statements as a result of new information or future events. During today's call, Greenlane management may discuss non-GAAP financial measures, including adjusted gross margin, adjusted SG&A, and adjusted EBITDA. Greenlane has included a reconciliation of these non-GAAP measures in today's press release, which is available in the Investor Relations section of the company's website at investor.gnln.com. I would now like to turn the call over to Mr. Nick Kovacevic, Chief Executive Officer of GreenLane. Please go ahead, Nick.

Thank you, Operator, and good morning, everyone. I'd like to thank you all for joining us today to hear the latest about GreenLane. Over the past couple of months, a lot has been going on in the broader capital markets and geopolitical landscape, and even more so here at our company, as we continue to execute on our 2022 plan to reduce our cost structure, increase liquidity, and accelerate our path to profitability. I'll start today's call by first providing a high-level overview of our results for the first quarter. Then I'll turn to some of our more recent developments and how we believe these will help us achieve our stated goal of positive adjusted EBITDA by Q3 of this year. And after that, I'll do a more comprehensive review of our financial results before we then open it up for Q&A. But before we get started, I wanted to spend a quick moment thanking Bill Mote for all of his contributions to GreenLane over the last couple of years, especially as we successfully integrated our merger with CushCo. As we announced in our 10Q yesterday, Bill will be stepping down from his role as Chief Financial Officer to pursue other opportunities. And we all wish him nothing but the best in the next chapter of his career. Our new Chief Accounting Officer Dash Daya will be filling in and will lead many of GreenLane's principal financial activities, including accounting and controllership, financial reporting, financial planning and analysis, tax, and treasury. Dash has a compelling blend of accounting and finance expertise and brings valuable and unique experience in the highly nuanced cannabis industry, having transformed the financial reporting process and infrastructure at MedMen over the past four years. We're really excited by what Dosh brings to the table and are thrilled to see him already hitting the ground running, rolling up his sleeves these past couple of weeks to help with preparing our Q1 financial reporting. Dosh will join me in the Q&A to help answer any questions, but before I jump into the rest of my prepared remarks, I wanted to quickly pass the call over to Bill for some brief final comments.

Thanks, Nick, and hello, everyone. It's been an absolute pleasure to serve as GreenLane CFO these past couple of years, and I am extremely proud of what the team has been able to accomplish in such a short time frame. I'm optimistic about the company's future, especially as it moves closer towards profitability and generating incremental value for shareholders. I wish the company nothing but the best. and remain a big supporter on the sidelines as the company grows in its next stage of evolution.