GLAS on NYSE
Glass House Brands Inc.
Canadian medicinal chemicals and botanical products company. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
Compare with biote Corp., MARIMED INC. or Cronos Group Inc, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
42.3%Gross margin2
-9.1%Operating margin2
-16.3%Net margin2
-9.4%Revenue growth, 20252
-40.1%Return on equity2
0.93×Debt to equity2
-$15.7MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Wholesale Biomass brought in 63% of the revenue Glass House Brands Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Wholesale Biomass | $139.1M | $114.2M |
| Retail | $43.8M | $48.2M |
| Consumer Package Goods | $18.0M | $19.5M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue58¢$105.0M
- Other costs36¢$65.0M
- Income tax7¢$11.9M
Out of $182.0M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending100¢$27.2M
Out of $11.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Revenues, Net | $182.0M | $200.9M |
| Cost of Goods Sold (Exclusive of Depreciation and Amortization Shown Separately Below) | $105.0M | $103.5M |
| Gross Profit | $77.0M | $97.4M |
| General and Administrative | $64.1M | $60.1M |
| Sales and Marketing | $2.7M | $2.4M |
| Professional Fees | $9.1M | $7.8M |
| Depreciation and Amortization | $15.8M | $15.0M |
| Impairment Expense for Intangible Assets | $1.9M | $6.3M |
| Total Operating Expenses | $93.5M | $91.7M |
| Income (Loss) from Operations | -$16.5M | $5.7M |
| Interest Expense | $7.1M | $9.2M |
| Interest Income | -$288.0K | $0 |
| Gain on Equity Method Investments | -$84.0K | -$14.0K |
| (Gain) Loss on Change in Fair Value of Derivative Asset and Liability | $2.1M | -$690.0K |
| Gain on Change in Fair Value of Contingent Liabilities and Shares Payable | $0 | -$13.7M |
| Loss on Extinguishment of Debt | $292.0K | $0 |
| Other (Income) Expense, Net | -$8.6M | -$238.0K |
| Total Other (Income) Expense, Net | $485.0K | -$5.5M |
| Income (Loss) from Operations Before Provision for Income Taxes | -$17.0M | $11.2M |
| Provision for Income Taxes | $11.9M | $10.5M |
| Net Income (Loss) | -$29.0M | $721.0K |
| Net Income Attributable to Non-Controlling Interest | $707.0K | $202.0K |
| Net Income (Loss) Attributable to the Company | -$29.7M | $519.0K |
| Loss Per Share - Basic (in dollars per share) | -$0.55 | -$0.21 |
| Loss Per Share - Diluted (in dollars per share) | -$0.55 | -$0.21 |
| Weighted-Average Shares Outstanding - Basic (in shares) | 81.9M shares | 75.2M shares |
| Weighted-Average Shares Outstanding - Diluted (in shares) | 81.9M shares | 75.2M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $19.9M | $33.9M | |
| Restricted Cash | $0 | $3.0M | |
| Accounts Receivable, Net | $4.4M | $5.2M | |
| Income Taxes Receivable | $791.0K | $1.9M | |
| Prepaid Expenses and Other Current Assets | $15.7M | $7.8M | |
| Inventory | $26.2M | $14.3M | |
| Notes Receivable | $800.0K | $0 | |
| Total Current Assets | $67.7M | $66.1M | |
| Operating Lease Right-of-Use Assets, Net | $3.9M | $8.2M | |
| Finance Lease Right-of-Use Assets, Net | $2.0M | $2.6M | |
| Long Term Investments | $0 | $2.3M | |
| Property, Plant and Equipment, Net | $228.8M | $212.3M | |
| Intangible Assets, Net | $11.6M | $14.2M | |
| Restricted Cash, Net of Current Portion | $3.5M | $0 | |
| Other Assets | $1.1M | $4.9M | |
| TOTAL ASSETS | $318.6M | $310.5M | |
| Accounts Payable and Accrued Liabilities | $36.0M | $31.1M | |
| Income Taxes Payable | $0 | $2.4M | |
| Contingent Shares Payable and Earnout Liabilities | $0 | $20.3M | $34.6M |
| Shares Payable | $0 | $2.6M | |
| Current Portion of Operating Lease Liabilities | $1.1M | $1.6M | |
| Current Portion of Finance Lease Liabilities | $836.0K | $889.0K | |
| Current Portion of Notes Payable | $37.0K | $7.6M | |
| Total Current Liabilities | $38.0M | $66.5M | |
| Operating Lease Liabilities, Net of Current Portion | $2.9M | $6.9M | |
| Finance Lease Liabilities, Net of Current Portion | $1.1M | $1.7M | |
| Other Non-Current Liabilities | $33.4M | $20.9M | |
| Notes Payable, Net of Current Portion | $68.6M | $50.6M | |
| TOTAL LIABILITIES | $144.0M | $146.4M | |
| Additional Paid-In Capital | $294.0M | $306.7M | |
| Accumulated Deficit | -$220.1M | -$190.4M | |
| Total Shareholders Equity Attributable to the Company | $73.9M | $116.2M | |
| Non-Controlling Interest | $8.2M | -$38.5M | |
| TOTAL MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY | $174.6M | $164.1M | $145.2M |
| TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS EQUITY | $318.6M | $310.5M |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash | $19.9M | $33.9M | |
| Restricted Cash | $0 | $3.0M | |
| Accounts Receivable, Net | $4.4M | $5.2M | |
| Income Taxes Receivable | $791.0K | $1.9M | |
| Prepaid Expenses and Other Current Assets | $15.7M | $7.8M | |
| Inventory | $26.2M | $14.3M | |
| Notes Receivable | $800.0K | $0 | |
| Total Current Assets | $67.7M | $66.1M | |
| Operating Lease Right-of-Use Assets, Net | $3.9M | $8.2M | |
| Finance Lease Right-of-Use Assets, Net | $2.0M | $2.6M | |
| Long Term Investments | $0 | $2.3M | |
| Property, Plant and Equipment, Net | $228.8M | $212.3M | |
| Intangible Assets, Net | $11.6M | $14.2M | |
| Restricted Cash, Net of Current Portion | $3.5M | $0 | |
| Other Assets | $1.1M | $4.9M | |
| TOTAL ASSETS | $318.6M | $310.5M | |
| Accounts Payable and Accrued Liabilities | $36.0M | $31.1M | |
| Income Taxes Payable | $0 | $2.4M | |
| Contingent Shares Payable and Earnout Liabilities | $0 | $20.3M | $34.6M |
| Shares Payable | $0 | $2.6M | |
| Current Portion of Operating Lease Liabilities | $1.1M | $1.6M | |
| Current Portion of Finance Lease Liabilities | $836.0K | $889.0K | |
| Current Portion of Notes Payable | $37.0K | $7.6M | |
| Total Current Liabilities | $38.0M | $66.5M | |
| Operating Lease Liabilities, Net of Current Portion | $2.9M | $6.9M | |
| Finance Lease Liabilities, Net of Current Portion | $1.1M | $1.7M | |
| Other Non-Current Liabilities | $33.4M | $20.9M | |
| Notes Payable, Net of Current Portion | $68.6M | $50.6M | |
| TOTAL LIABILITIES | $144.0M | $146.4M | |
| Additional Paid-In Capital | $294.0M | $306.7M | |
| Accumulated Deficit | -$220.1M | -$190.4M | |
| Total Shareholders Equity Attributable to the Company | $73.9M | $116.2M | |
| Non-Controlling Interest | $8.2M | -$38.5M | |
| TOTAL MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY | $174.6M | $164.1M | $145.2M |
| TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS EQUITY | $318.6M | $310.5M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net Income (Loss) | -$29.0M | $721.0K |
| Bad Debt Expense, Net of Recoveries | $2.6M | $305.0K |
| Interest Capitalized | -$775.0K | $0 |
| Loss on Disposal of Property and Equipment | $1.0M | $0 |
| Depreciation and Amortization | $15.8M | $15.0M |
| Gain on Equity Method Investments | -$84.0K | -$14.0K |
| Impairment Expense for Intangible Assets | $1.9M | $6.3M |
| Non-Cash Operating Lease Costs | $1.4M | $1.6M |
| Loss on Extinguishment of Debt | -$292.0K | $0 |
| Accretion of Debt Discount and Loan Origination Fees | $391.0K | $1.7M |
| (Gain) Loss on Change in Fair Value of Derivative Asset and Liability | $2.1M | -$690.0K |
| Gain on Change in Fair Value of Contingent Liabilities and Shares Payable | $0 | -$13.7M |
| Share-Based Compensation | $13.4M | $13.1M |
| Accounts Receivable | -$547.0K | -$1.5M |
| Income Taxes Receivable | $1.1M | -$1.9M |
| Prepaid Expenses and Other Current Assets | -$2.3M | -$3.9M |
| Inventory | -$12.0M | -$5.4M |
| Other Assets | $3.4M | $215.0K |
| Accounts Payable and Accrued Liabilities | $5.8M | $8.4M |
| Interest Payments on Finance Leases | -$272.0K | -$258.0K |
| Income Taxes Payable | -$2.4M | -$5.5M |
| Operating Lease Liabilities | -$1.3M | -$1.6M |
| Other Non-Current Liabilities | $10.9M | $15.4M |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | $11.4M | $28.4M |
| Purchases of Property and Equipment | -$27.2M | -$10.3M |
| Proceeds from Sale of Assets | $222.0K | $0 |
| Issuance of Note Receivable | -$1.0M | $0 |
| Cash Received from Consolidation of Variable Interest Entity | $215.0K | $0 |
| NET CASH USED IN INVESTING ACTIVITIES | -$27.7M | -$10.3M |
| Proceeds from the Issuance of At-the-Money Shares | $2.2M | $0 |
| Proceeds from the Issuance of Notes Payable, Third Parties and Related Parties | $52.1M | $0 |
| Proceeds from the Issuance of Preferred Shares | $18.5M | $0 |
| Redemption of Preferred Shares | -$18.5M | $0 |
| Payment on Finance Lease | -$1.0M | -$478.0K |
| Payments on Notes Payable, Third Parties and Related Parties | -$42.9M | -$7.6M |
| Cash Received Upon Exercise of Options and Warrants | $1.0M | $2.2M |
| Distributions to Non-Controlling Interest Holders | -$342.0K | -$109.0K |
| Distributions to Preferred Shareholders | -$8.3M | -$7.7M |
| NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | $2.7M | -$13.7M |
| NET INCREASE (DECREASE) IN CASH, RESTRICTED CASH AND CASH EQUIVALENTS | -$13.6M | $4.4M |
| Cash Paid for Interest | $4.5M | $6.0M |
| Cash Paid for Taxes | $2.5M | $2.5M |
| Exchange of Series B and Series C Preferred Shares for Series E Preferred Shares | $59.0M | $0 |
| Reclassification of Preferred Shares from Non-Controlling Interest to Additional Paid-In Capital | $52.3M | $0 |
| Contingent Shares Payable in Connection with Camarillo Acquisition | $20.3M | $0 |
| Variable Interest Entity Consolidation | $12.9M | $0 |
| Issuance of At-the-Money shares | $3.9M | $66.0K |
| Shares Issued to Settle Shares Payable - NHC Business Acquisitions | $2.6M | $3.8M |
| Shares Issued for Payment of Interest on Convertible Debentures | $1.3M | $1.3M |
| Shares Issued for 2024 and 2023 Bonus, respectively | $1.1M | $2.7M |
| Interest Capitalized to Property and Equipment | $775.0K | $0 |
| Shares Issued to Acquire Remaining Non-Controlling Interest in Consolidated Subsidiary | $600.0K | $0 |
| Recognition of Right-of-Use Asset and Lease Liability for Finance Lease | $403.0K | $1.3M |
| Shares Issued for Vested GH Group Non-Qualified Options | $0 | $2.8M |
| Lease Terminations and Amendments | $0 | $22.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Glass House Brands Inc., and when. Pick a name to see everywhere that person has worked.
Board members and other officers (1)
- SVP, Corporate ControllerWilliam Tu Mar 18, 2026 to now7
Former names
- Mercer Park Brand Acquisition Corp.Mar 19, 2021 to Mar 30, 20213
Filings
188 filings to the SEC since October 2021: 10 annual reports, 7 insider forms, 1 large holders, 2 private raises, 168 other. The latest 20:
- Oct 9, 20266-K EDGAR
- Sep 29, 20266-K EDGAR
- Sep 18, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 11, 20264 OWNERSHIP DOCUMENT EDGAR
- Sep 11, 20266-K EDGAR
- Aug 28, 2026144 EDGAR
- Aug 14, 20266-K EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 13, 20266-K EDGAR
- Jul 15, 20266-K EDGAR
- Jul 15, 2026SUPPL EDGAR
- Jul 15, 2026F-X EDGAR
- Jul 15, 2026F-10EF FORM F-10 EDGAR
- Jun 26, 20268-A12B EDGAR
- Jun 26, 2026CERT NYSE CERTIFICATION EDGAR
- Jun 18, 20266-K EDGAR
- Jun 17, 20266-K EDGAR
- Jun 4, 20264 OWNERSHIP DOCUMENT EDGAR
- Jun 4, 2026144 EDGAR
- May 26, 20264 OWNERSHIP DOCUMENT EDGAR
The 188 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
4 open-market trades by officers, directors and large owners since October 2021: 0 buys and 4 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 11, 2026 | Tu WilliamSVP, Corporate Controller | Sale | 3,818 | $8.03 | $30.7K | Form 4 |
| May 26, 2026 | Tu WilliamSVP, Corporate Controller | Sale | 5,423 | $10.48 | $56.8K | Form 4 |
| May 22, 2026 | Tu WilliamSVP, Corporate Controller | Sale | 10,414 | $10.19 | $106.1K | Form 4 |
| May 19, 2026 | Tu WilliamSVP, Corporate Controller | Sale | 15,888 | $10.08 | $160.2K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Park West Asset Management LLCSCHEDULE 13G, 1 filing Aug 14, 20268
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 52. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
5 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Oct 15, 2025 | Max L. MillerRepublican, House | Buy | $1,001 - $15,000 | Report | |
| Oct 15, 2025 | Max L. MillerRepublican, House | Buy | $459 | Report | |
| Jun 30, 2025 | Max L. MillerRepublican, House | Buy | $1,001 - $15,000 | Report | |
| Jun 12, 2025 | Max L. MillerRepublican, House | Buy | $1,001 - $15,000 | Report | |
| Nov 26, 2024 | Max L. MillerRepublican, House | Buy | $1,001 - $15,000 | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
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