Glass House Brands Segregates Medical Cannabis Operations
The company projected a total cost of production of approximately 111 dollars per pound of biomass.
Glass House Brands Inc. (GLAS), a medical marijuana operator, entered into agreements on June 12, 2026, to facilitate the deconsolidation of its former indirect wholly owned subsidiary, Glass House Retail, LLC. The transaction segregated the medical cannabis business from the company's dual-use cannabis business. Following the closure of the transaction, the remaining operations of Glass House Brands consist only of medical marijuana facilities licensed by the Drug Enforcement Administration and the state of California.
In Camarillo, the company added incremental capacity through Greenhouses 3 and 4. These facilities offer more than 600,000 pounds of incremental biomass production capacity. Greenhouse 4 is the same size as Greenhouse 3, and both are almost 10% larger than the other greenhouses. Greenhouse 3 has an estimated annual production of 300,000 pounds, while Greenhouse 4 has an estimated annual production capacity of 300,000 pounds.
Other operational facilities include Greenhouse 1, which has a current production of more than 300,000 pounds, and Greenhouse 2, which has a current production of 300,000 pounds. Greenhouse 6 is currently developmental.
The company provided a financial outlook that included biomass production of approximately 1 million pounds. This outlook included an average selling price in California of approximately 180 dollars per pound of biomass and a total cost of production of approximately 111 dollars per pound. Glass House Brands stated it cannot provide assurances that it will obtain improved wholesale pricing or sell into markets outside of California.