Glass House Brands Inc. (GLASF) Earnings Call Transcripts

Glass House Brands Inc.'s Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Glass House Brands Inc. reported revenue of $41 million, exceeding prior guidance of $39 million but down from $44.8 million year-over-year. The company experienced a significant decline in adjusted EBITDA, reporting a loss of $4.2 million compared to a profit of $4.4 million in the same quarter last year. Management has lowered full-year guidance for gross profit, adjusted EBITDA, and period-ending cash due to higher-than-expected production costs, now anticipating gross profit margins in the mid-40% range, down from approximately 48%.

Reported metrics

Guidance from management

Management has updated full-year guidance, now expecting net revenues between $235 million and $245 million and adjusted EBITDA in the high $30 million range. They anticipate production costs to be approximately $111 per pound, down from previous guidance of $100.

What management said

So Frederico, always nice to hear from you. Thank you for your call. This is a top of mind. I would tell you that Graham and I are spending a decent amount of our bandwidth in conversations with legislators and lawyers. Let me ask Graham to go ahead and field that one, if you don't mind. You want it, Graham?

And Frederico, please know, we're speaking to people at every level of government and so -- including and especially California. So we are all over this. As you can imagine, after our trip to Europe, which I mentioned, there's plenty of demand for our cloud.

What analysts pressed on

Analysts expressed concerns regarding the company's conservative guidance and the impact of labor inefficiencies on production costs. There were questions about the timeline for international exports and the potential for higher margins outside of California.

Main topics on the call

• Rescheduling of Cannabis — Management highlighted the rescheduling of medical cannabis to Schedule III as a 'landmark event' that could normalize the industry and enhance interstate commerce opportunities. They are optimistic about future legislat...
• Production and Cost Challenges — The company reported production costs of $175 per pound, above guidance and last year's $108. Management attributed this to a less experienced workforce and ongoing expansion projects, indicating a learning curve that ha...
• Joint Venture with Vireo Growth — Glass House announced a joint venture with Vireo Growth to create one of California's largest cannabis retailers. This partnership aims to improve profitability and expand distribution, particularly in underserved areas ...
• Hemp Production Potential — Management expressed confidence in the potential of their hemp operations, with Greenhouse 4 capable of producing up to 300,000 pounds annually. Initial sales are expected to occur later this summer, with pricing anticip...

Read the full Glass House Brands Inc. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 20 Glass House Brands Inc. earnings call transcripts on record, spanning August 17, 2021 to May 13, 2026. Based on this history, Glass House Brands Inc. reports quarterly. The most recent call on file is dated May 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

GLASF

Exchange

OTCPK

Country

US

Sector

Consumer Staples

Industry

Personal Care Products

Calls on record

20

First call

August 17, 2021

Most recent

May 13, 2026

Reporting cadence

quarterly