Mar. 25 at 8:26 PM
$GLASF
Glass House Brands reported strong Q4 2024 financial results with revenue of
$53.0 million, up 31% year-over-year, and full-year revenue of
$200.9 million, a 25% increase from 2023.
The company achieved significant growth across all three business segments.
Q4 highlights include:
Adjusted EBITDA of
$9.0 million, up 139% year-over-year
Biomass production reached 165,074 pounds, up 60% year-over-year
Production cost decreased to
$110 per pound from
$121 last year
Gross profit margin was 43%
Cash balance increased to
$36.9 million
The company provided 2025 guidance, projecting Q1 revenue between
$42-44 million and full-year revenue of
$220-230 million.
A new
$50 million senior secured loan was secured, extending debt maturity to 2030.
Phase III expansion is underway, including Greenhouse 2 retrofit, which is expected to increase total annual capacity to over 1 million pounds of biomass.
