GLASNYSEMedicinal Chemicals & Botanical ProductsUS GAAP · USD

Glass House Brands Inc.

Glass House Brands Inc. is a U.S.-based cannabis company focused on the cultivation, processing, and sale of cannabis and cannabis-derived products. Its business combines controlled-environment agriculture with branded consumer products and wholesale supply, primarily serving markets in the United States.

Kysy yhtiöstä
Liikevaihto182milj. USD
−9,4 %v/v
Liikevoitto (EBIT)−16,5milj. USD
−388,2 %v/v
EBIT-marginaali−9,1%
−11,9 %-yks.v/v
Nettotulos−29,7milj. USD
−5 814,6 %v/v
Vapaa kassavirta−15,7milj. USD
−186,9 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−1000100200300milj. USD2020: 48 milj. USD2020: EBIT −6,0 milj. USD20202021: 69 milj. USD2021: EBIT −35 milj. USD20212022: 91 milj. USD2022: EBIT −50 milj. USD20222023: 161 milj. USD2023: EBIT −50 milj. USD20232024: 201 milj. USD2024: EBIT 5,7 milj. USD20242025: 182 milj. USD2025: EBIT −17 milj. USD2025182−17
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Cultivation and wholesale flower45 %

Grown cannabis sold as bulk or packaged flower for retail and wholesale channels.

Pre-rolls and packaged flower25 %

Branded smoked products sold through dispensaries and retail partners.

Concentrates and extracts15 %

Derived cannabis products such as oils, vape inputs, and other extracts.

Edibles and infused products10 %

Cannabis-infused consumer products sold through licensed retail channels.

Other cannabis-related sales5 %

Ancillary product sales and related operating revenue streams.

Asiakkaat

The company sells to licensed cannabis retailers, dispensaries, and wholesale buyers that need compliant product supply and branded inventory. It also serves adult-use consumers indirectly through retail partners and channel relationships in regulated U.S. cannabis markets.

Licensed dispensaries and retailers

Buy packaged flower, pre-rolls, and infused products for resale to end consumers

Wholesale cannabis buyers

Purchase bulk cultivation output and derivative inputs for processing or resale

Adult-use consumers

Purchase branded cannabis products through licensed retail outlets

Processing and manufacturing partners

Use cannabis inputs for concentrates, extracts, and finished goods

Strategia

The company’s strategy is centered on securing dependable cultivation capacity, converting that output into branded products, and maintaining access to regulated retail channels. In a tightly controlled market, scale in production, product quality, and channel relationships are key to sustaining shelf presence and wholesale demand.

Cultivation scale and efficiencyKeskipitkä aikaväli

Controlled-environment production supports volume, quality, and supply reliability

Brand and product expansionKeskipitkä aikaväli

Branded products improve market visibility and diversify revenue beyond bulk flower

Channel access in regulated marketsLyhyt aikaväli

Licensed retail and wholesale access determines how much product can be sold

Maantiede

Glass House Brands operates in the United States, where cannabis production and sales are governed by state-level licensing and regulatory regimes. Its business is tied to regulated U.S. cannabis markets, with operations and sales exposure shaped by where cultivation, processing, and retail distribution are permitted.

Riskit

The business is exposed to cannabis-specific regulatory risk because cultivation and sales depend on state licenses, compliance rules, and shifting enforcement standards. It also faces pricing pressure, crop-quality variability, and operating complexity from a regulated agricultural model, all of which can affect product mix and realized revenue.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Cannabis regulatory change1Wholesale price compression2Compliance and enforcement risk3Agricultural yield variability4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Cannabis regulatory changeVaikutus: KorkeaTodennäköisyys: Korkea

    Sales and cultivation depend on state licenses and evolving rules

    Kohdistuu: U.S. regulated cannabis markets

  2. Wholesale price compressionVaikutus: KorkeaTodennäköisyys: Korkea

    Cannabis flower is a commodity-like product with competitive supply

    Kohdistuu: Cultivation and wholesale channels

  3. Compliance and enforcement riskVaikutus: KorkeaTodennäköisyys: Korkea

    Regulated products require strict licensing, testing, and tracking

    Kohdistuu: State-licensed production and distribution

  4. Agricultural yield variabilityVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Plant growth, harvest timing, and quality affect available sellable inventory

    Kohdistuu: Greenhouse cultivation operations

Kirjanpito

Harkinnanvaraiset erät
Inventory valuation

Cannabis cultivation creates inventory and harvest-cost allocation judgments

Vaikutus: Can lead to write-downs when product quality or market prices change

Revenue recognition

Sales are recognized when control transfers through regulated channels

Vaikutus: Affects timing of reported sales and receivables

Lease accounting

Cultivation and processing sites often use long-term facility leases

Vaikutus: Creates right-of-use assets and lease liabilities

Intangible asset impairment

Branded products, licenses, or acquired assets may need periodic testing

Vaikutus: Can result in non-cash charges if expected cash flows weaken

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Target Group Inc.

CBDY · Medicinal Chemicals & Botanical Products

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TLRY · Medicinal Chemicals & Botanical Products

Verano Holdings Corp.

VRNO · Agricultural Production-Crops

Planet 13 Holdings Inc.

PLNH · Agricultural Production-Crops

TreeHouse Foods, Inc.

Canned, Frozen & Preservd Fruit, Veg & Food Specialties

Green Thumb Industries Inc.

GTBIF · Agricultural Production-Crops

Päivitetty: 28.9.2026