Earnings ·
Glass House Reports Q3 Revenue of $56.8M, Record Biomass Production of 317,000 lbs
GHBWFGlass House Brands Inc.
Glass House Brands Inc. reported preliminary third-quarter revenue of $56.8 million and record biomass production of approximately 317,000 pounds. Cost of production fell to $110 per pound from $122 in the prior quarter, while gross profit was $14.9 million. The company raised $18 million through its At-The-Market offering program and maintains full-year production guidance of approximately 1 million pounds. Additionally, director John Nichols Jr. resigned from the board. Glass House operates as a cannabis cultivation and distribution company in California.