Glass House Brands Reports Second Quarter 2026 Financial Results

LONG BEACH, Calif. and TORONTO, Aug. 13, 2026 (GLOBE NEWSWIRE) — Glass House Brands Inc. (“Glass House” or the “Company”) (CBOE CA: GLAS.A.U) (NYSE: GLAS), one of the fastest-growing cannabis companies in the U.S., today reported financial results for the second quarter ended June 30, 2026.

As a result of the Company’s previously announced deconsolidation of Glass House Retail, LLC (“GHR”) effective June 12, 2026, the historical operating results of GHR through June 11, 2026, together with the loss recognized upon deconsolidation of GHR on June 12, 2026, are presented as discontinued operations for all periods presented. Prior-period results of operations have been retrospectively recast to conform to the current-period presentation. Beginning June 12, 2026, the Company’s share of GHR’s post-deconsolidation income or loss is recognized under the equity method and included in continuing operations. Unless otherwise noted, the results of operations discussed in this earnings release, including the non-GAAP financial measures presented herein, reflect the Company’s continuing operations and exclude amounts classified as discontinued operations.

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(Unaudited results, unless otherwise stated, all results and dollar references are in U.S. dollars)

“In light of April’s rescheduling of medical cannabis, we made significant changes to the business, our licenses and operating structure including registering our cultivation and processing licenses with the DEA, and converting each of our cultivation and processing licenses to medical,” said Kyle Kazan, Co-Founder, Chairman and CEO of Glass House. “We are confident that medical cannabis rescheduling is sufficient to support interstate commerce between companies with appropriately registered DEA licenses and export to international medical cannabis markets.”

“We completed a deconsolidation transaction whereby we fully separated our retail operations. Now, our remaining business is fully medically licensed and Schedule III compliant.”

“Our second quarter results reflect our retail deconsolidation and meaningful progress in returning to more fully efficient operations at our farms. We produced 246,000 pounds of biomass in the quarter, a record level and ahead of both our guidance and our production last year. Our cost of production for the quarter was $122 per pound. The cost of production reflects significant improvement from the $175 per pound we reported last quarter.”