From Financialpost · · 1m 10s
Glass House Brands Reports Q3 Results and Board Resignation
Glass House Brands reports record biomass production and cost cuts, with John Nichols Jr. resigning from board.
In brief
Glass House Brands reports record biomass production and cost cuts, with John Nichols Jr. resigning from board. Glass House Brands achieved record biomass production of 317,000 pounds and reduced production costs to $95 per pound, while John Nichols Jr. resigned from the board. Originally reported by Financialpost.
Q3 Financial Results
Glass House Brands reports record biomass production of 317,000 pounds and a 10% reduction in cost of production from previous quarter.
Financial Guidance
Company reaffirms full year 2026 production target of 1,000,000 pounds and long-term cost of production target of $95 per pound.
Revenue and Costs
Revenue reached $56.8 million in Q3 2026, with cost of production at $110 per pound and average selling price of $150 per pound.
Board Resignation
John Nichols Jr. resigns from Glass House Brands Board of Directors.
CEO Statement
CEO Kyle Kazan highlights record sales, biomass production, and operational improvements despite pricing challenges.
Funding and Projects
Company raised $18 million via ATM program and funds Greenhouse 2 expansion and automation equipment.
Cash Position
Company has $39.7 million in cash, a $17.6 million increase from previous quarter.
The short version
Glass House Brands achieved record biomass production of 317,000 pounds and reduced production costs to $95 per pound, while John Nichols Jr. resigned from the board.
