The earnings call reflects a strong second quarter performance with significant revenue growth and cost efficiencies. However, labor constraints and increased taxes in California present challenges that may impact future quarters. Despite these issues, strategic initiatives and successful refinancing showcase resilience and adaptability.

Company Guidance

During the Glass House Brands Second Quarter 2025 Earnings Call, the company reported surpassing guidance across several key metrics despite challenging market conditions in California. Revenue reached $59.9 million, reflecting an 11% year-over-year and 34% quarter-over-quarter increase. The company produced 231,000 pounds of biomass, exceeding their guidance range of 210,000 to 215,000 pounds, at a cost of $91 per pound, down from $148 per pound the previous year. Retail revenues grew 13% year-over-year despite a 15% decline in the state’s retail sales, showcasing strong execution and strategic pricing initiatives. Gross profit was $31.9 million, or 53% of revenue, up from 45% in Q1, while adjusted EBITDA rose significantly to $18.1 million from both the previous quarter and the same period last year. Despite an increase in California’s excise tax on cannabis, the company absorbed the 4% increase to maintain pricing for its customers. Looking ahead, the company anticipates third-quarter revenue between $35 million and $38 million due to labor constraints impacting production, with a rebound expected in the fourth quarter. Glass House Brands continues to enhance operational efficiencies, aiming to lower its cost of production target to $95 per pound and remains optimistic about future growth opportunities, including potential legislative changes that could impact the cannabis industry.

Strong Revenue Growth

Second quarter revenue was $59.9 million, up 11% year-over-year and 34% quarter-over-quarter, with growth across all revenue segments.

Retail Outperformance

Retail revenues increased 13% year-over-year despite a 15% decline in California state retail sales, showcasing strong execution and strategic pricing initiatives.

Cost Efficiency Improvements

Production cost per pound of biomass improved to $91, down from $148 last year, reflecting enhanced cultivation practices.

Record Adjusted EBITDA

Adjusted EBITDA for the second quarter was $18.1 million, significantly higher than the prior guidance of $11 million to $13 million.

Successful Refinancing

Refinancing of high-interest-rate Series B and C Preferred equity, resulting in significant savings and demonstrating investor confidence.

Glass House Brands (GLASF) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GLASF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 06, 2025	2025 (Q3)	-0.17 / -	-0.09	―	―	―
Aug 13, 2025	2025 (Q2)	-0.06 / 0.05	0.08	-37.50% (-0.03)	―
May 13, 2025	2025 (Q1)	-0.14 / -0.18	-0.406	55.67% (+0.23)	―
Mar 25, 2025	2024 (Q4)	-0.10 / 0.16	-0.43	136.51% (+0.59)	―
Nov 13, 2024	2024 (Q3)	<0.01 / -0.09	0	―	―
Aug 13, 2024	2024 (Q2)	-0.01 / 0.08	-0.39	120.51% (+0.47)	―
May 14, 2024	2024 (Q1)	-0.13 / -0.29	-0.413	28.77% (+0.12)	―
Mar 28, 2024	2023 (Q4)	-0.07 / -0.43	-0.316	-36.08% (-0.11)	―
Nov 13, 2023	2023 (Q3)	-0.05 / 0.00	0.24	―	―
Aug 14, 2023	2023 (Q2)	-0.08 / -0.39	-0.24	-62.50% (-0.15)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GLASF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 13, 2025	$7.55	$7.66	+1.46%
May 13, 2025	$6.41	$6.54	+2.03%
Mar 25, 2025	$4.76	$4.60	-3.36%
Nov 13, 2024	$8.10	$7.99	-1.36%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Glass House Brands (GLASF) report earnings?

Glass House Brands (GLASF) is schdueled to report earning on Nov 06, 2025, After Close (Confirmed).

What is Glass House Brands (GLASF) earnings time?

Glass House Brands (GLASF) earnings time is at Nov 06, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is GLASF EPS forecast?

GLASF EPS forecast for the fiscal quarter 2025 (Q3) is -0.18.

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