Glass House Brands Inc. income statement GLAS
In fiscal 2025, which ended Dec 31, 2025, Glass House Brands Inc. reported revenue of $182.0 million, down 9.4% from the year before. It recorded a net loss of $29.7 million. The operating loss came to $16.5 million, an operating margin of -9.1%. Diluted earnings per share were -$0.55. Across the 5 fiscal years shown, revenue grew from $63.2 million in fiscal 2021 to $182.0 million in fiscal 2025, about 30.3% a year.
USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.
| Line |
FY 2025
Dec 31, 2025
|
FY 2024
Dec 31, 2024
|
FY 2023
Dec 31, 2023
|
FY 2022
Dec 31, 2022
|
FY 2021
Dec 31, 2021
|
|---|---|---|---|---|---|
| Revenue |
182
-9.4%
|
201
+24.9%
|
161
+89.5%
|
85
+34.3%
|
63
|
| Cost of revenue |
105
+1.5%
|
104
+29.6%
|
80
+24.5%
|
64
+35.4%
|
47
|
| Gross profit |
77
-21.0%
|
97
+20.3%
|
81
+290.9%
|
21
+31.1%
|
16
|
| Selling, general and administrative |
67
+6.8%
|
63
+12.2%
|
56
+13.8%
|
49
+31.3%
|
37
|
| Operating income |
-17
-388.2%
|
6
+111.6%
|
-50
+12.2%
|
-56
-55.9%
|
-36
|
| Other income (expense) |
-0
-108.8%
|
5
+114.2%
|
-39
-302.6%
|
19
|
—
|
| Pretax income |
-17
-251.7%
|
11
+112.7%
|
-88
-135.9%
|
-37
+9.5%
|
-41
|
| Income tax |
12
+13.7%
|
10
+5.6%
|
10
+326.7%
|
-4
-317.9%
|
2
|
| Net income |
-30
-5814.6%
|
1
+100.5%
|
-98
-198.7%
|
-33
+23.7%
|
-43
|
| Net income to common |
-45
-191.8%
|
-15
+86.8%
|
-117
-119.6%
|
-53
|
—
|
| Basic EPS |
-0.55
-161.9%
|
-0.21
+87.0%
|
-1.62
-95.2%
|
-0.83
+25.2%
|
-1.11
|
| Diluted EPS |
-0.55
-161.9%
|
-0.21
+87.0%
|
-1.62
-95.2%
|
-0.83
+25.2%
|
-1.11
|
| Weighted average shares, basic |
82
+8.9%
|
75
+4.4%
|
72
+12.2%
|
64
+59.3%
|
40
|
| Weighted average shares, diluted |
82
+8.9%
|
75
+4.4%
|
72
+12.2%
|
64
+59.3%
|
40
|
| Other measures | |||||
| Depreciation and amortization |
15
+4.9%
|
14
+5.9%
|
14
+19.2%
|
11
+146.3%
|
5
|
| EBITDA |
-2
-107.7%
|
20
+155.6%
|
-36
+20.1%
|
-45
-42.7%
|
-32
|
| Interest coverage |
-2.34x
|
0.62x
|
—
|
—
|
—
|
| Margins | |||||
| Gross margin |
42.29%
|
48.48%
|
50.34%
|
24.40%
|
25.00%
|
| Operating margin |
-9.08%
|
2.86%
|
-30.79%
|
-66.44%
|
-57.25%
|
| Pretax margin |
-9.35%
|
5.58%
|
-54.79%
|
-44.01%
|
-65.34%
|
| Profit margin |
-16.30%
|
0.26%
|
-61.10%
|
-38.77%
|
-68.21%
|
| EBITDA margin |
-0.84%
|
9.97%
|
-22.40%
|
-53.10%
|
-49.97%
|
| Effective tax rate |
—
|
93.57%
|
—
|
—
|
—
|
How these figures are calculated
Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. More on our methodology.
New to this? Read How to Read an Income Statement, With a Real Example.
Company profile
- Industry
- Medicinal Chemicals & Botanical Products (SIC 2833)
- Listed as
- GLAS (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- British Columbia, Canada
- Headquarters
- Long Beach, CA
- SEC filer status
- , Emerging growth company
- SEC CIK
- 1848731
- Former names
- Mercer Park Brand Acquisition Corp. (until Mar 30, 2021)
Other Medicinal Chemicals & Botanical Products companies
- Definium Therapeutics, Inc. DFTX
- Regencell Bioscience Holdings Ltd RGC
- Curaleaf Holdings, Inc. CURLF
- Trulieve Cannabis Corp. TRLV
- Cronos Group Inc. CRON
- TFA Therapeutics, Inc. RAJAF
- Tilray Brands, Inc. TLRY
- SNDL Inc. SNDL
Source: SEC EDGAR filings. This is company-reported data, not investment advice.