Aug. 13 at 8:16 PM
$GLASF BLOWOUT QUARTER
Glass House Brands – Q2 Earnings 2025 Summary
Performance vs. Guidance
• Exceeded expectations in biomass production, revenue, gross profit, and Adjusted EBITDA.
Key Financials (Q2 2025)
• Revenue:
$59.9M → +11% YoY, +34% QoQ.
• Gross Profit:
$31.9M → up from
$28.7M YoY and
$20.1M QoQ.
• Gross Margin: 53% (same as Q2 2024, up from 45% in Q1 2025).
• Adjusted EBITDA:
$18.1M → up from
$12.4M YoY and
$4.4M QoQ.
• Operating Cash Flow:
$17.7M → up from
$8.9M YoY and
$2.5M QoQ.
• Cash & Equivalents:
$44.2M at June 30, 2025 (up from
$37.6M at Q1 end).
Operational Highlights
• Wholesale Biomass Production: 230,748 lbs → +54% YoY, above 210K–215K guidance.
• Cost per Pound:
$91 → down 39% from
$148 last year, below
$100 target.
• Retail revenues up 13% YoY vs. a 15% statewide retail decline (Headset data).