Glass House Brands Inc. (GLAS)

From the record

Glass House Brands Inc.'s filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

From the record

Glass House Brands Inc.'s 6 filed years say what it did: revenue went from $48 million in fiscal 2020 to $182 million in fiscal 2025, up 30.4% a year; it rose in 4 of 5 years; the deepest fall was 9% from fiscal 2024 to fiscal 2025; net income was positive in 1 of 6 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, Glass House Brands Inc.'s diluted share count grew about 8.5% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 4 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, Glass House Brands Inc. lost about 40 cents for every dollar of shareholders' money, and gross profitability: its products earned about 24 cents per dollar of everything the company owns. Leverage: it owed about 77 cents per dollar of assets, and net share issuance: its share count grew 8.9% over the year (the filed statements).

From the record

Glass House Brands Inc.'s standing among 18 graded names in its industry family: revenue of $182 million in fiscal 2025 ranks in the top 32% by size; a net margin of -16.3% ranks in the bottom 31%; revenue growth of 28.9% a year over the last 3 filed years ranks in the top 14% (its annual reports).

From the record

Glass House Brands Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $23 million against debt of $69 million leaves -14.2% of its assets as net cash, bottom 18% of its family; cash from operations less capital spending is -8.6% of revenue (bottom 25%); a gross margin of 42.3% (top 44%) (its annual report).

From the record

Glass House Brands Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 28.9% a year over the last three filed years against 30.4% over all 6, slowing (top 19% of its family); the newest year grew -9.4% (bottom 19%); capital spending grew -0.7% a year (top 50%) (its annual reports). Glass House Brands Inc. reported 3 lines of business in fiscal 2025: Wholesale Biomass at $114 million, Segment Retail at $48 million, Consumer Package Goods at $20 million. 2 of 3 grew in the latest filed year, and the largest line is 63% of revenue (its annual report).

From the record

Glass House Brands Inc.'s newest year against its own record: revenue of $182 million in fiscal 2025 came in 41.1% below the $309 million its prior three years' pace pointed to (bottom 3% of its family); net income of $30 million against a prior three-year average of $44 million (bottom 42%); a net margin of -16.3% against -33.2% before (top 47%) (its annual reports).