Cannabis producer Glass House Brands' Q3 revenue beats estimates

Glass House Brands

12/11/2025 21:42

Overview

Glass House Brands Inc Q3 revenue of $38.4 mln beats estimates, but declines yr/yr

Adjusted EBITDA for Q3 was negative $2.3 mln, meeting estimates

Company plans to return to full production capacity by Q1 2026

Outlook

Glass House expects full production capacity by Q1 2026

Company to have most cannabis acreage planted by year-end 2025

Glass House maintains $95 per pound biomass cost target

Result Drivers

PLANNED SCALE BACK - Temporary reduction in new planting and production affected Q3 results, according to CEO Kyle Kazan

LABOR SHORTAGES - Revamped hiring practices led to temporary worker shortages impacting production

PRODUCTION COST INCREASE - Reduced production scale and labor inefficiencies raised cost per pound to $128

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
$38.4 mln
$35.9 mln (2 Analysts)
Q3 Adjusted EBITDA
Meet
-$2.3 mln
-$2.3 mln (2 Analysts)
Q3 Gross Margin
31.00%
Q3 Gross Profit
$11.8 mln
Q3 Operating Cash Flow
-$5.1 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the drug retailers peer group is "buy"

Wall Street's median 12-month price target for Glass House Brands Inc is $10.00, about 27% above its November 11 closing price of $7.30

Press Release: ID:nGNX8z2rkv

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)