Glass House Brands Q2 2026: Record Biomass Production, Positive Adjusted EBITDA, Reaffirms 1M Pound Forecast
GLAS sits 83% above its 52-week low of $5.15.
Summary
Glass House Brands reported Q2 2026 results with record biomass production of 245,746 pounds, positive Adjusted EBITDA of $5.7M, and reaffirmed its full-year 2026 production forecast of approximately 1 million pounds.
Key Events · Earnings and Guidance · GLAS
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Record Biomass Production
Q2 2026 equivalent dry pound production reached 245,746 pounds, up from 151,531 in Q1 2026 and 230,748 in Q2 2025, at a cost of $122 per pound (down from $175 in Q1).
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Revenue and Profitability Recovery
Revenue was $47.0M (up 64% sequentially), gross margin improved to 34% from 14% in Q1, and Adjusted EBITDA turned positive at $5.7M versus negative $4.2M in Q1.
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Full-Year Guidance Reaffirmed
Company reaffirmed its full-year 2026 wholesale cannabis biomass production forecast of approximately 1 million pounds, with a production run rate of over 1.1 million pounds expected by year-end.
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Retail Deconsolidation Completed
Deconsolidation of Glass House Retail LLC effective June 12, 2026, making the remaining business fully medically licensed and Schedule III compliant; retail results are now presented as discontinued operations.
Analysis · GLAS · Life Sciences
A sharp sequential recovery defined Glass House Brands' Q2 2026 results: revenue reached $47.0M (up 64% from Q1), gross margin expanded to 34% from 14% in Q1, and Adjusted EBITDA swung to positive $5.7M from negative $4.2M in Q1. Operational scaling is evident in record biomass production of 245,746 pounds at $122 per pound, and the company reaffirmed its full-year 2026 production forecast of approximately 1 million pounds. The deconsolidation of its retail business and NYSE uplisting mark a strategic shift to a fully medically licensed, Schedule III compliant model. While year-over-year profitability declined (Adjusted EBITDA down from $18.1M in Q2 2025), the quarter-over-quarter improvement and production records are notable for a company with a market cap of $772M.
At the time of this filing, GLAS was trading at $9.45 on NYSE in the Life Sciences sector, with a market capitalization of approximately $771.9M. The 52-week trading range was $5.15 to $13.93. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.