Glass House Cannabis Brands Exceeds Q1 2024 Guidance In Cash, Sales, Production And EBITDA
Glass House Brands Inc. (OTC: GHBWF) reported financial results for Q1 2024 with a revenue of $30.1 million, a 9% increase year-over-year. Biomass production reached 61,334 pounds, a 28% increase from the previous year, despite no expansion in cultivation footprint. Glass House specializes in greenhouse cultivation operations, manufacturing practices and brand-building as well as retailing of cannabis products.
Kyle Kazan, co-founder, chairman and CEO, stated, “We exceeded Q1 guidance across all operating metrics including cash, sales, production, and Adjusted EBITDA.”
Financial Highlights
Adjusted EBITDA was $(1.6) million, compared to $0.5 million in Q1 2023 and $3.8 million in Q4 …