Good morning and thank you everyone for joining us today. This morning, I will review key highlights from the quarter and the significant recent progress on our growth strategies before turning the call over to our Chief Financial Officer, Bill Mote for a review of our financial results. We started 2021 on strong footing, following our successes in 2020 and we have made tremendous progress.
We continue to gain momentum on the growth of our core revenue and Greenlane Brands. Core revenue was up 11.6% to 32.3 million for Q1 2021, compared with 28.9 million in Q1 2020 and accounted for 95% of our total revenue for the first quarter of 2021.
We are also seeing continued growth from our higher margin Greenlane owned brands, with revenue up 18.4% to a record 8.5 million in Q1 2021 from 7.2 million in Q1 2020, which I am extremely proud to share is our second consecutive quarter of record revenue for our owned brands. These owned brands continue to perform exceptionally well in the market, and VIBES in particular hit a quarterly revenue record of 2.7 million in Q1 2021, up 72.7% from Q1 2020 and our Marley Natural line grew a significant 222.4% in Q1 2021, compared to Q1 2020. I would also like to note our Greenlane Brands revenue accounted for 25% of total revenue for the first quarter of 2021. These financial metrics demonstrate continued positive results from the work we completed throughout 2020 to increase our revenue mix to one more heavily weighted to our higher margin Greenlane owned brands. I'm also excited to share the advancements we have made on the execution of our strategic vision, which continues to focus on launching exciting new consumer products into the market, expanding our platform through carefully selected M&A opportunities, and growing Greenlane’s position as the leading provider of cannabis consumption products globally.
The first development being the acquisition of Eyce in early March. Eyce has long been a Greenlane partner and is the world's leading manufacturer of specialty silicone smoking products. Their premium products have been a standout in the marketplace and we were thrilled to be able to bring them in-house.
We are excited to work with their highly experienced and extremely talented team and continue the successful growth trajectory the brand has delivered to date, up 52.6% in Q1 2021, compared to Q1 2020.
As we continue growing our Greenlane Brands revenue, we benefit from the deep and long standing relationships we have built over the past 15 years with a large percentage of the industry's leading brands.
We have developed significant insights into the market, thanks to the work we do with brands over their entire lifecycle, which gives us a strong sense of when is the opportune time to acquire.
Our criteria to add brands is very selective and we focus on products that will not only enhance our margin profile, but ones that will elevate our customers experiences, curating products that continue to position us as the industry leading provider of premium cannabis accessories.
We have a robust pipeline and expect to continue executing on similar opportunities as we anticipate in industry consolidation will continue to happen over the next few years.
In addition to being a benefit to potential M&A, the industry experience and expertise we have developed over the years has positioned us well to adapt to industry changes, including the increased regulation on the mailing of vaping products.
As we learned of a recent shift in the industry as a result of the PACT Act, our scale and expertise has allowed us to capitalize on this opportunity. We designed and are executing a solution leveraging our robust compliance infrastructure, and our logistics experienced to continue shipping vaping products in the United States. This solution also enables us to bring in revenue providing fulfillment and other services to new and existing customers who lack the resources and expertise to comply with the new and constantly evolving regulatory requirements. We just recently attended the TPE convention, which was our first trade show in a year. The reception was very positive. The show was very well attended and we feel shows, the trend of retail, reopening in a meaningful way. Top performers were VIBES rolling papers, Eyce, and student glass, contributing to over 4 million in revenue. We were able to introduce our VIBES rolling papers to an expanded customer base in the traditional convenience class of trade. This class has also begun to show interest in a greater product set because of expanded legalization throughout the country. We look forward to attending future events such as this and ramping up our presence at in-person events as we grow our critical mass.
Before turning the call over to Bill, I'd like to end by discussing the transformative merger with KushCo that we announced at the end of March. We were thrilled to announce this combination as it brings together two of the largest and ancillary cannabis products and services companies in the world.
We expect this transaction will considerably enhance the scale of our business, while also resulting in significant synergies at an important point in the industry. We believe that through this combination we will be strongly positioned to grow our role as the leading player in the ancillary cannabis sector with anticipated benefits not only to our respective shareholders and employees, but also our valued customer bases and third party brand partners through enhanced product offerings, even more competitive pricing, and expanded and ancillary services.
As both Greenlane and KushCo are leaders in the ancillary space, we are combining two robust, differentiated, and innovative offerings to create a best-in-class product portfolio.
In addition to a differentiated and complimentary product offering, we will also be merging two distinct customer bases. The combined company will serve a premier group of customers, which includes many of the leading multi-state operators, single state operators, and Canadian LPs, the majority of the top smoke shops in the U.S. and millions of direct consumers, allowing for tremendous cross-selling opportunities. With a combined 25 years of experience over 200 articles of intellectual property 9,000 brick and mortar customers, and millions of direct customers along with strong relationships with key vendors, we believe we will be best positioned to continue delivering innovative products solutions to our global customer base. We estimate that the pro forma combined company is tracking to achieve approximately between 310 million and 330 million of revenue, and that we will deliver incremental revenue growth beyond what either company can achieve on a standalone basis.
In addition to the revenue growth opportunities, there are significant potential cost synergies that will enable us to improve margins and enhance profitability. We're expecting the improved operating leverage and enhanced scale of the combined company to drive approximately 15 million to 20 million in cost saving synergies within 24 months of closing, resulting from economies of scale, and optimized distribution network, and reduced operating expenses.
Following completion of this transaction, we believe the combined company will have a strong platform for accelerated organic growth and should be well positioned to capitalize on attractive market opportunities to grow profitably and drive value for all shareholders. We've made substantial progress under strategic initiatives during the first quarter, and will continue to accelerate this growth strategy moving through 2021. With that, I will now turn it over to Bill to run through our financial results in further detail.