Size Matters: Glass House's 150,000-Pound Harvest Drives Record $53.9M Revenue In Q2 2024
Portfolio Pulse from Nicolás Jose Rodriguez
Glass House Brands (OTC:GLASF) reported a record Q2 2024 with $53.9 million in revenue, a 21% YoY increase. Gross profits rose to $28.7 million, and adjusted EBITDA improved to $12.4 million. Despite a net loss of $10 million, the company projects Q3 revenue between $65 million and $67 million.
August 14, 2024 | 1:13 pm
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Glass House Brands reported record Q2 2024 revenue of $53.9 million, a 21% YoY increase. Gross profits rose to $28.7 million, and adjusted EBITDA improved to $12.4 million. Despite a net loss of $10 million, the company projects Q3 revenue between $65 million and $67 million.
The record revenue and significant improvements in gross profits and adjusted EBITDA are positive indicators for Glass House Brands. Despite the net loss, the strong revenue projections for Q3 suggest continued growth, likely driving short-term stock price appreciation.
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