Glass House Brands Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	181.98	200.9	160.84	84.87	63.19
Revenue Growth (YoY)	-9.41%	24.91%	89.50%	34.31%	30.94%
Cost of Revenue	105.02	103.51	79.87	64.16	47.39
Gross Profit	76.96	97.39	80.97	20.71	15.8
Selling, General & Admin	74.89	70.31	63.06	56.69	41.37
Operating Expenses	90.65	85.36	77.68	68.99	46.14
Operating Income	-13.69	12.04	3.29	-48.28	-30.34
Interest Expense	-7.06	-9.18	-9.82	-7.61	-2.74
Interest & Investment Income	0.29	-	0.05	0.06	0.06
Earnings From Equity Investments	0.08	0.01	-2.1	-2.01	-1.09
Other Non Operating Income (Expenses)	-3.15	0.51	-2.31	0.22	0.71
EBT Excluding Unusual Items	-23.53	3.37	-10.9	-57.62	-33.39
Merger & Restructuring Charges	-	-	-	-2.26	-5.02
Impairment of Goodwill	-	-	-37.91	-5.85	-
Gain (Loss) on Sale of Investments	-	-	-	-	-0.82
Gain (Loss) on Sale of Assets	-	-	-	-	-6.09
Asset Writedown	-1.9	-6.3	-14.9	-	-
Other Unusual Items	8.41	14.15	-24.4	28.38	4.03
Pretax Income	-17.02	11.22	-88.12	-37.35	-41.29
Income Tax Expense	11.93	10.5	9.94	-4.39	2.01
Earnings From Continuing Operations	-28.95	0.72	-98.06	-32.96	-43.3
Minority Interest in Earnings	-0.71	-0.2	-0.21	0.06	0.2
Net Income	-29.66	0.52	-98.27	-32.9	-43.1
Preferred Dividends & Other Adjustments	15.4	15.96	18.44	20.25	1.8
Net Income to Common	-45.06	-15.44	-116.71	-53.15	-44.9
Shares Outstanding (Basic)	82	75	72	64	40
Shares Outstanding (Diluted)	82	75	72	64	40
Shares Change (YoY)	8.91%	4.44%	12.22%	59.34%	89.42%
EPS (Basic)	-0.55	-0.21	-1.62	-0.83	-1.11
EPS (Diluted)	-0.55	-0.21	-1.62	-0.83	-1.11
Free Cash Flow	-15.73	18.1	10.92	-68.55	-128.78
Free Cash Flow Per Share	-0.19	0.24	0.15	-1.07	-3.20
Gross Margin	42.29%	48.48%	50.34%	24.40%	25.00%
Operating Margin	-7.52%	5.99%	2.04%	-56.89%	-48.01%
Profit Margin	-24.76%	-7.69%	-72.57%	-62.63%	-71.05%
Free Cash Flow Margin	-8.64%	9.01%	6.79%	-80.77%	-203.79%
EBITDA	2.07	27.08	17.91	-35.98	-25.57
EBITDA Margin	1.14%	13.48%	11.14%	-42.39%	-40.47%
D&A For EBITDA	15.76	15.04	14.63	12.3	4.77
EBIT	-13.69	12.04	3.29	-48.28	-30.34
EBIT Margin	-7.52%	5.99%	2.04%	-56.89%	-48.01%
Effective Tax Rate	-	93.57%	-	-	-
Advertising Expenses	1.1	1	1.2	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.