Glass House Brands Inc (TSE:GLAS.A.U) has released an update.
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Glass House Brands Inc. has announced a significant year-over-year revenue growth of 89% to $160.8 million for the full year 2023, with a robust 35% increase in Q4 revenue to $40.4 million, surpassing expectations. The company has achieved its fourth consecutive quarter of positive adjusted EBITDA at $3.8 million and has also reported a substantial improvement in operating cash flow and a doubled cash balance from the previous year. With the initiation of cultivation at Greenhouse 5, Glass House is poised to expand its annual capacity by over 70%.
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