Glass House Brands Inc. (E:GLAS.A.U)
Business Focus: Cannabis Product Retailers
| Sector: Consumer Non-Cyclicals | Industry: Drug Retailers |
| Company Contact | |
| Address: | 3645 Long Beach Blvd LONG BEACH CA 90807 |
| Tel: | N/A |
| Website: | https://glasshousebrands.com |
| IR: | See website |
| Key People | ||
| Kyle Kazan Chairman of the Board, Chief Executive Officer | Graham Farrar President, Director | Mark Vendetti Chief Financial Officer |
| Benjamin Vega General Counsel, Corporate Secretary | Hilal Tabsh Chief Revenue Officer | |
| Business Overview |
| Glass House Brands Inc. is a vertically integrated cannabis company. The Company, through its subsidiaries, cultivates, manufactures, and distributes cannabis bulk flower and trim to wholesalers and consumer packaged goods (CPG) to third-party retail stores in the state of California. The Company also owns and operates retail cannabis stores in the state of California. Its products include raw cannabis, cannabis oil and cannabis CPG. Its portfolio of brands includes Glass House Farms, PLUS Products, Allswell, Forbidden Flowers, and Mama Sue Wellness. Its retail landscape consists of approximately nine stores across California, including The Pottery, Farmacy and natural healing center (NHC). The Company's Farmacy branded dispensaries are located in Santa Barbara, Santa Ana and Berkeley, California. It operates multiple greenhouse cultivation facilities located in Carpinteria and Camarillo, California, and its manufacturing production facilities are located in Lompoc, California. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Glass House Brands Inc revenues increased 89% to $160.8M. Net loss increased from $32.9M to $98.3M. Revenues reflect Wholesale Biomass segment increase from $41.4M to $105.7M, Retail segment increase of 46% to $39.1M. Higher net loss reflects Loss (Gain) on Change in Fair Value of C decrease from $28.9M (income) to $24.4M (expense). |
| Employees: | 362 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $647.06M as of Dec 31, 2023 |
| Annual revenue (TTM): | $160.84M as of Dec 31, 2023 |
| EBITDA (TTM): | $17.91M as of Dec 31, 2023 |
| Net annual income (TTM): | -$98.27M as of Dec 31, 2023 |
| Free cash flow (TTM): | $4.58M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $36.45M as of Dec 31, 2023 |
| Shares outstanding: | 75,695,616 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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