Glass House Brands Inc ( (GLASF) ) has released its Q3 earnings. Here is a breakdown of the information Glass House Brands Inc presented to its investors.
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Glass House Brands Inc. is a rapidly expanding, vertically integrated cannabis company in the United States, focusing primarily on the California market and known for its sustainable production practices. In its third-quarter 2025 earnings report, Glass House Brands announced a revenue of $38.4 million, surpassing its guidance but reflecting a significant decline from previous periods due to a strategic reduction in planting and production. Despite these challenges, the company remains committed to returning to full production capacity by early 2026.
Key financial metrics for the quarter included a gross profit margin of 31%, a negative adjusted EBITDA of $2.3 million, and an operating cash flow of negative $5.1 million. The company produced 123,986 pounds of biomass, exceeding its guidance but falling short compared to previous quarters. The cost per equivalent dry pound of production rose to $128, reflecting reduced production scale and labor inefficiencies.
Glass House Brands continues to advance its growth plans, including the completion of the first third of Greenhouse 2, with expectations to have the most cannabis acreage planted in its history by the end of 2025. The company also completed a preferred equity refinancing, which is expected to enhance its financial flexibility.
Looking ahead, Glass House Brands is optimistic about its future prospects, with plans to fully operationalize Greenhouse 2 by 2026 and explore new market opportunities. The management remains confident in overcoming current challenges and achieving long-term growth targets.