Glass House Brands Hits Record Biomass Production in Third Quarter
The cannabis company produced approximately 317,000 pounds of biomass during the third quarter ended September 30, 2026
Glass House Brands Inc. (GLAS), a cannabis company focused on the California market, produced a record 317,000 pounds of biomass in the third quarter ended September 30, 2026. This volume rose from 246,000 pounds in the second quarter of 2026.
Revenue for the third quarter reached $56.8 million, compared to $47.0 million in the second quarter of 2026 and $26.2 million in the third quarter of 2025. Gross profit was $14.9 million, representing a 26% margin. This followed a gross profit of $15.8 million and a 34% margin in the second quarter of 2026, and $5.6 million with a 21% margin in the third quarter of 2025.
The company reduced its cost of production to approximately $110 per pound, down from $122 per pound in the second quarter of 2026. Graham Farrar, Co-Founder, President, and Chief Cannabis Officer, stated that costs fell from $175 to $110, a reduction of more than 37% since the first quarter.
Average selling prices fell to $150 per pound in the third quarter, compared to $211 per pound in the second quarter of 2026 and $155 per pound in the third quarter of 2025.
Operating cash flow was negative $0.4 million for the period. This compared to positive $0.2 million in the second quarter of 2026 and negative $5.1 million in the third quarter of 2025. The company noted that the second quarter 2026 and third quarter 2025 figures included operating cash flows from Glass House Retail, LLC, which was deconsolidated on June 12, 2026.
Glass House raised $18 million through its At-The-Market offering program at an average price of $8.11 a share, and $10 million from warrants during the quarter. The company said it will use these proceeds for automation equipment, upgrades to Greenhouse Climate controls, facility upgrades to reduce production costs and improve yield, and the completion of the Greenhouse 2 expansion.
John "Jay" Nichols Jr. resigned as a director of the company.
Glass House reaffirmed its full-year 2026 production guidance of approximately 1,000,000 pounds and its long-term cost of production target of $95 per pound.
Abeona's ZEVASKYN Sales Growth Slowed
Emera confirms operational stability and intellectual property rights