Glass House Brands Q2 Loss Widens, Material Weakness Persists
GLAS sits 83% above its 52-week low of $5.15.
Summary
Glass House Brands reported a Q2 net loss of $6.8 million versus a profit of $8.7 million last year, with gross margin down sharply. A material weakness in internal controls remains unresolved.
Key Events · Earnings and Guidance · GLAS
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Q2 Net Loss of $6.8M
Net loss attributable to the Company was $6.8 million for Q2 2026, compared to net income of $8.7 million in Q2 2025. Revenue was essentially flat at $47.0 million.
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Gross Margin Collapses to 34%
Gross profit fell to $15.8 million from $26.1 million, as cost of goods sold rose 45% to $31.2 million. Gross margin declined from 55% to 34% year-over-year.
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Adjusted EBITDA Down 69%
Adjusted EBITDA was $5.7 million, down from $18.1 million in Q2 2025, driven by lower gross profit and higher general and administrative expenses.
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Material Weakness Unremediated
The material weakness in internal control over financial reporting related to IT general controls at third-party service providers remains unremediated as of June 30, 2026. Remediation efforts are ongoing.
Analysis · GLAS · Life Sciences
Glass House Brands swung to a $6.8 million net loss in Q2 2026 from an $8.7 million profit a year earlier, as gross margin collapsed to 34% from 55% on higher production costs. Adjusted EBITDA fell 69% to $5.7 million. The company also disclosed that a material weakness in internal controls over financial reporting remains unremediated, adding governance risk on top of deteriorating profitability.
How filings like this one have moved
In the 30 days to Nov 1, 2026, 40.1% of the 1118 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.35%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, GLAS was trading at $9.41 on NYSE in the Life Sciences sector, with a market capitalization of approximately $728.6M. The 52-week trading range was $5.15 to $13.93. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.