Glass House Brands Inc. (GLAS)
Glass House Brands, Inc. operates as an integrated cannabis company in the United States with focus on the California market and building brands to serve consumers across various segments. The company is involved in greenhouse cultivation operations, manufacturing practices, brand-building, and retailing activities. The company offers its cannabis products through its portfolio of brands, which includes Glass House Farms, PLUS Products, Allswell, Forbidden Flowers, and Mama Sue Wellness. The company was founded by Kyle Kazan, Graham Farrar and Jocelyn Rosenwald in 2015 and is headquartered in Long Beach, CA.
Sector: Medicinal Chemicals & Botanical Products
Industry: Drug Manufacturers - Specialty & Generic
Glass House Brands Inc
NYSE:GLASBasic Materials · Agricultural Inputs
-6.14%$2.14
AH Close$2.13-0.47%vs close
AH Close$2.13-0.47%vs close
Mkt Cap$201.68M
Float79.23M
O/S94.24M
Inst Own19.7%
SI0.5%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$181.98M
Net Income-$29.66M
Total Assets$318.56M
Free Cash Flow-$15.73M
Debt & Equity
Debt 50%
Equity 50%
Total Debt$74.57M
Total Equity$73.94M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in GLAS's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$318.56M
Liabilities$236.46M
Accounts Receivable$6.01M
Accounts Payable$13.71M
Inventory$26.23M
PP&E (Net)$234.67M
Goodwill$0
Intangible Assets$11.58M
Income Statement
| Period | FY 2025 |
|---|---|
| Currency | USD |
| Period Ending | 2025-12-31 |
| Revenue | $181.98M |
| YoY Growth | - |
| Cost of Revenue | $105.02M |
| Gross Profit | $76.96M |
| Gross Margin | 42.3% |
| Research and Development | $0 |
| Selling, General, and Administrative | $75.83M |
| Other | $15.76M |
| Total Operating Expenses | $91.59M |
| Operating Income (EBIT) | -$14.63M |
| Operating Margin | -8.0% |
| Interest Expense | $7.06M |
| Interest Income | $288K |
| Other Income (Expense) | -$2.38M |
| Income Before Tax (EBT) | -$17.02M |
| Income Tax Expense | $11.93M |
| Net Income | -$29.66M |
| Net Income Margin | -16.3% |
| Supplementary Data | |
| EPS | -0.55 |
| Diluted EPS | -0.55 |
| Weighted Average OS | 81.94M |
| EBITDA | $5.8M |
| EBITDA Margin | 3.2% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Assets | |||||
| Current Assets | |||||
| Cash and Cash Equivalents | $19.85M | $33.92M | $29.52M | $11.14M | $51.07M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $19.85M | $33.92M | $29.52M | $11.14M | $51.07M |
| Accounts Receivable | $6.01M | $7.15M | $3.98M | $6.04M | $2.46M |
| Inventory | $26.23M | $14.25M | $8.84M | $10.95M | $6.53M |
| Other Current Assets | $15.66M | $10.78M | $6.87M | $10.76M | $3M |
| Total Current Assets | $67.75M | $66.1M | $49.22M | $38.89M | $68.62M |
| Long-Term Assets | |||||
| Property, Plant & Equipment Net | $234.67M | $222.99M | $226.55M | $227.56M | $198.88M |
| Goodwill | $0 | $0 | $0 | $37.8M | $4.92M |
| Intangible Assets | $11.58M | $14.2M | $21.21M | $35.92M | $5.63M |
| Long-Term Investments | $0 | $2.34M | $2.33M | $4.25M | $7.2M |
| Deferred Tax Assets | $0 | $0 | $0 | $1.51M | $0 |
| Other Long-Term Assets | $4.56M | $4.87M | $4.47M | $4.69M | $2.34M |
| Total Long-Term Assets | $250.81M | $244.4M | $254.56M | $311.73M | $218.96M |
| Other Assets | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $318.56M | $310.5M | $303.77M | $350.63M | $287.58M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | $13.71M | $8.69M | $5.54M | $6.01M | $4.34M |
| Short-Term Debt | $37K | $7.64M | $7.55M | $40K | $38K |
| Current Income Tax Payable | $2.39M | $6.38M | $10.8M | $8.87M | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $20.27M | $34.59M | $14.66M | $44.99M |
| Total Current Liabilities | $37.96M | $66.48M | $87.36M | $54M | $55.24M |
| Long-Term Liabilities | |||||
| Long-Term Debt | $68.63M | $50.55M | $56.51M | $62.62M | $44.82M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $125.91M | $35.87M | $20.44M | $54.58M | $2.72M |
| Total Long-Term Liabilities | $198.5M | $94.97M | $86.18M | $127.27M | $50.41M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $236.46M | $161.45M | $173.54M | $181.27M | $105.65M |
| Stockholders' Equity | |||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 | $0 | $0 |
| Retained Earnings | -$220.07M | -$190.42M | -$190.94M | -$92.67M | -$59.76M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $294.01M | $306.65M | $280.7M | $261.53M | $241.9M |
| Total Equity | $73.94M | $116.24M | $89.76M | $168.86M | $182.13M |
| Minority Interest | $8.17M | $32.82M | $40.48M | $498K | -$198K |
| Total Liabilities and Equity | $310.39M | $277.68M | $263.3M | $350.13M | $287.78M |
| Supplementary Data | |||||
| Total Debt | $74.57M | $69.2M | $75.13M | $73.88M | $47.99M |
| Net Debt | $54.72M | $35.27M | $45.6M | $62.73M | -$3.08M |
Cash Flow Statement
| Period | FY 2025 |
|---|---|
| Currency | USD |
| Period Ending | 2025-12-31 |
| Operating Activities | |
| Net Income | -$28.95M |
| Depreciation & Amortization | $15.76M |
| Deferred Income Tax | $0 |
| Stock-Based Compensation | $13.4M |
| Changes in Working Capital: | |
| Accounts Receivable | $591K |
| Inventory | -$11.97M |
| Accounts Payable | $5.82M |
| Other Working Capital | $8.06M |
| Total Working Capital Change | $2.5M |
| Other Non-Cash Items | $8.74M |
| Net Cash from Operating | $11.45M |
| Investing Activities | |
| Capital Expenditures | -$27.18M |
| Acquisitions | $0 |
| Purchases of Investments | $0 |
| Sales of Investments | $0 |
| Other Investing Activities | -$563K |
| Net Cash from Investing | -$27.74M |
| Financing Activities | |
| Debt Repaid | -$8.19M |
| Common Stock Issuance | $3.18M |
| Common Stock Repurchases | -$18.5M |
| Dividends Paid | $0 |
| Other Financing Activities | $18.16M |
| Net Cash from Financing | $2.72M |
| Forex Effect | $0 |
| Net Change in Cash | -$13.57M |
| Supplementary Data | |
| Operating Cash Flow | $11.45M |
| Capital Expenditure | -$27.18M |
| Free Cash Flow | -$15.73M |
| Cash at Beginning | $36.92M |
| Cash at End | $23.35M |