Glass House Brands (TSE:GLAS.A.U)
NEO-L:GLAS.A.U
Earnings Data
Report Date
May 19, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.18Last Year’s EPS
-0.18Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced clear near-term challenges from the July farm raids, product-quality and mix issues, compressed pricing and elevated production costs that drove weaker Q4 and full-year 2025 results, against material strategic, operational and financial positives: top-selling brand and strong retail execution, completed financings that reduced capital risk, restored and expanded planted acreage, concrete greenhouse expansions (Greenhouse 2 and 4), pursuit of GACP and international/Hemp opportunities, and aggressive 2026 guidance (revenue $235–245M, ~1M lbs production, adjusted EBITDA in high $40Ms). Management framed the 2025 issues as temporary and provided specific steps and forecasts showing a path to margin recovery and scale-driven profitability in 2026.Company Guidance
Top-Selling Flower Brand and Retail Outperformance
Allswell became the top-selling flower brand in California by volume; same-store retail sales grew ~10% year-over-year in 2025 versus a ~5% decline in the California market (Headset), demonstrating strong retail execution and pricing strategy (Farm Fresh $9.99 everyday OTD).
Balance Sheet and Financing Improvements
Secured a $50 million 5-year senior secured credit facility in March and refinanced high-rate Series B/C preferred equity with a fully subscribed Series E carrying a 12% annual rate (replacing ~22.5% prior), reducing leverage risk without equity dilution; completed ATM raises in Dec/Jan (~$22M net proceeds).
Operational Recovery and Increased Planted Acreage
Ended 2025 fully planted in legacy greenhouses and with the first 1/3 of Greenhouse 2 planted, representing the largest acreage in company history; plants increased to ~20% more than early July levels with another ~40% addition expected when Greenhouse 2 is fully planted by end of Q2 2026.
2026 Growth Guidance and Scale Targets
Management guides 2026 revenue of $235–245M (vs $182M in 2025, +29% to +34% at midpoint), full-year gross margin ~48%, adjusted EBITDA in the high $40M range, and wholesale biomass production forecast ~1,000,000 lbs (a ~48% increase vs 2025).
Hemp and International Opportunity Pipeline
Greenhouse 4 planted for commercial smokable CBD/hemp (first harvest expected Q2 2026, product sales targeted in summer); active discussions with international distributors and pursuit of GACP certification to access EU medical markets; hemp pricing expected to be favorable to current California cannabis prices (not included in 2026 guidance).
Research and Strategic Partnerships
Commenced collaboration with UC Berkeley on hemp-related research to develop novel medicinal products and established a board special committee (including new director Alison Payne) to oversee new product and business opportunities beyond California cannabis.
Production Base and Long-Term Cost Target
Full-year 2025 production totaled 666,000 lbs (management noted this is ~10% higher than 2024 sellable production), and management reiterated a long-term production cost target of $95 per pound with expectations to be below that level in the final three quarters of 2026.
Industry Regulatory Progress
December 18 executive order rescheduling cannabis to Schedule III and authorizing pilot reimbursable CBD programs: management views this as a major positive catalyst that could permit interstate and international medical sales, substantially expanding addressable market.
TSE:GLAS.A.U Earnings History
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
FAQ
When does Glass House Brands (TSE:GLAS.A.U) report earnings?
Glass House Brands (TSE:GLAS.A.U) is schdueled to report earning on May 19, 2026, After Close (Confirmed).
What is Glass House Brands (TSE:GLAS.A.U) earnings time?
Glass House Brands (TSE:GLAS.A.U) earnings time is at May 19, 2026, After Close (Confirmed).
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What is TSE:GLAS.A.U EPS forecast?
TSE:GLAS.A.U EPS forecast for the fiscal quarter 2026 (Q1) is -0.18.