Glass House Brands Inc (NYSE:GLAS)

Q2 2026 Glass House Brands Inc Earnings Call Transcript

Aug 13, 2026 / 09:00 PM GMT

Release Date Price: $9.97 (-3.11%)

Transcript

Key Points

Positve

Record production of 246,000 pounds of biomass in Q2, exceeding guidance and prior year levels.
Cost of production improved significantly to $122 per pound from $175 in Q1, with a target of below $100 by year-end.
Average wholesale selling price of $211 per pound exceeded guidance and improved year-over-year.
Successful uplisting to the New York Stock Exchange (NYSE) under ticker GLAS, enhancing liquidity and investor access.
Strategic positioning for interstate and international expansion following Schedule III rescheduling, including DEA registration and engagement of Pharma Compliance Group.

Negative

Revenue of $47 million fell short of prior guidance due to retail deconsolidation and lower-than-expected gross margins.
Gross margin declined to 34% from 55% a year ago, driven by an unfavorable trim mix and higher production costs.
Higher trim levels in the production mix, resulting from replanting with non-optimal strains and a less experienced workforce, negatively impacted profitability.
Adjusted EBITDA dropped to $5.7 million from $18.1 million in the prior year quarter.
One cogeneration unit remained offline, impacting CO2 supply and production efficiency, with repairs expected to be completed in the current quarter.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GLASau.NLB - Glass House Brands Inc
Q2 2026 Glass House Brands Inc Earnings Call
Aug 13, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, ladies and gentlemen. Welcome to the Glasshouse Brands Second Quarter 2026 Earnings Call.

Matters discussed during today's conference call may constitute forward-looking statements that are subject to risks and uncertainties related to Glasshouse Brands' future financial or business performance. Actual results could differ materially from those anticipated in those forward-looking statements.

The risk factors that may affect results are detailed in GlassHouse Brands periodic filings and registration statements.

These documents may be accessed via CDER+ database.

I'd also like to remind everyone that this call is being recorded today, Thursday, August 13th, 2026.

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