Glass House Brands Reports Record Biomass Production

The Tip Desk · October 26, 2026 · 2 min read

The company anticipates revenue of $56.8 million for the third quarter ended September 30, 2026

Glass House Brands Inc. (GLAS), a cannabis company, announced preliminary unaudited financial results for the third quarter ended September 30, 2026. The company anticipates revenue of $56.8 million. This follows revenue of $47.0 million in the second quarter of 2026 and $26.2 million in the third quarter of 2025.

Production volumes reached a record 317,000 pounds of biomass during the period. This represents an increase from the 246,000 pounds produced in the second quarter of 2026. The company reported a cost of production of approximately $110 per pound, which is lower than the $122 per pound recorded in the second quarter of 2026.

Average selling prices declined to $150 per pound. This compares to $211 per pound in the second quarter of 2026 and $155 per pound in the third quarter of 2025. Gross profit for the quarter was $14.9 million, representing a 26% margin. The company reported 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.

Operating cash flow was negative $0.4 million. In the second quarter of 2026, operating cash flow was positive $0.2 million, and in the third quarter of 2025, it was negative $5.1 million. The company noted that the results for the second quarter of 2026 and the third quarter of 2025 include the operating cash flows of Glass House Retail, LLC, which was deconsolidated on June 12, 2026.

Capital was raised through an at-the-market offering program, which generated $18 million at an average price of $8.11 a share. The company also raised $10 million from warrants during the quarter. Cash, restricted cash, and cash equivalents totaled $39.7 million at the end of the period.

John "Jay" Nichols Jr. resigned as a director of the company on October 19, 2026.