Quarterly ResultMay 13, 2026, 05:12 PM
Glass House Q1 Net Loss $(17.1)M; Revenue $40.5M; Forms Retail JV
AI Summary
Glass House Brands Inc. reported a net loss of $(17.1) million on net revenues of $40.5 million for Q1 2026, compared to a net loss of $(10.1) million on $44.8 million in Q1 2025. The company also announced a strategic retail joint venture with Vireo Growth Inc. to expand its cannabis dispensary operations in California. Despite increased losses and negative cash flow from operations, Glass House continues its expansion plans for its Camarillo Facility and maintains sufficient liquidity for the next 12 months.
Key Highlights
- Formed a retail-focused strategic arrangement with Vireo Growth Inc. to acquire and operate California cannabis dispensaries.
- Q1 2026 net revenues decreased to $40.5 million from $44.8 million in Q1 2025.
- Q1 2026 net loss attributable to the Company increased to $(17.1) million from $(10.1) million in Q1 2025.
- Basic loss per share for Q1 2026 was $(0.23), compared to $(0.18) in Q1 2025.
- Net cash used in operating activities was $(11.8) million in Q1 2026, a shift from $2.5 million provided in Q1 2025.
- Completed buildout of the first third of Greenhouse 2 in 2025, with initial contributions in Q1 2026.
- Cash balance increased to $24.4 million as of March 31, 2026, from $19.9 million at December 31, 2025.
- Accumulated deficit reached $237.2 million as of March 31, 2026.