Glass House Brands Reports Preliminary Unaudited Third Quarter Financial Results and Resignation of John Nichols Jr. from Board of Directors
Glass House Brands reported preliminary unaudited Q3 revenue of $56.8 million, up from $47.0 million in Q2 2026 and $26.2 million a year ago, with record biomass production of ~317,000 pounds. Margins compressed: gross profit of $14.9 million (26% margin) versus 34% in Q2, as average selling price fell to $150/lb from $211/lb on a trim-heavy mix and weak California pricing, though cost of production dropped to $110/lb. Operating cash flow was negative $(0.4) million; the company ended the quarter with $39.7 million in cash after raising $28 million via ATM and warrants, and has turned off the ATM.
Key figures
- Revenue
- 56800000
- Guidance
- Reaffirms FY2026 production of ~1,000,000 lbs and long-term cost of production target of $95/lb; Q4 cost of production expected in line with Q3
- Revenue Yoy
- up from $26.2M in Q3 2025 (~117% YoY growth)
- Gross margin
- 26%
- Gross profit
- 14900000
- Atm proceeds q3
- $18 million at average $8.11/share
- Period end cash
- 39700000
- Atm proceeds fy2026
- $46 million gross at average $8.41/share (~5 million shares)
- Warrant proceeds q3
- $10 million
- Biomass production lbs
- 317000
- Cost of production per lb
- 110
- Average selling price per lb
- 150
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.