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BOCA RATON - Greenlane Holdings, Inc. (NASDAQ:GNLN), a seller of premium cannabis accessories and vaporization products, announced Monday it has selected JointCommerce as its B2C e-commerce digital marketing platform. According to InvestingPro data, the company, currently valued at $4.28 million, appears undervalued based on Fair Value analysis despite facing significant market challenges.
The company has completed initial deployment on its vapor.com website, with plans to expand to other properties. Greenlane will utilize JointCommerce’s software platform and data tools to deliver compliant digital marketing solutions for its cannabis brands and wellness products. The company maintains a healthy gross profit margin of 56% and holds more cash than debt on its balance sheet, according to recent financial data from InvestingPro.
"JointCommerce’s experience in B2C marketing is paramount for us," said Barbara Sher, Chief Executive Officer for Greenlane. "The unique balance they bring to the table from strategy to creative to technology are key requirements in our success and speed to market."
According to the press release, JointCommerce has developed an advanced Demand Side Platform and Consumer Data Platform designed to help brands navigate advertising restrictions in the cannabis industry. The platform reportedly has over 200 million first-party audience profiles of cannabis-interested consumers and purchasers, with more than 150 cannabis advertising partners in the US.
Greenlane, founded in 2005, operates as a distributor of smoking accessories, vape devices, and lifestyle products to retailers and consumers through various channels, including its e-commerce platforms Vapor.com, PuffItUp.com, and others.
The announcement comes as cannabis companies continue seeking compliant marketing solutions in a highly regulated industry.
In other recent news, Greenlane Holdings, Inc. has announced several significant developments. The company reported an increase in its outstanding shares to 319,816,671 due to the exercise of pre-funded and Series B warrants associated with a private placement completed earlier this year. This adjustment in capital structure could provide Greenlane with additional resources for its operations. Furthermore, Greenlane has renewed its distribution agreement with PAX Labs, allowing it to continue distributing popular PAX vaporizers across the United States. The company also secured a new distribution deal with Greentank Technologies to offer Greentank’s vaporization devices in the U.S. market. In another strategic move, Greenlane announced a one-for-750 reverse stock split to comply with Nasdaq’s minimum bid price requirement, effective June 26, 2025. Additionally, the company appointed Mike Hinson as Executive Vice President of Sales, bringing over 20 years of experience to the team. These developments reflect Greenlane’s efforts to strengthen its market position and expand its product offerings.
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