Glass House Brands Inc - GLASF STOCK NEWS

Glass House Brands (GLASF) has partnered with Eaze to launch PLUS cannabis gummies in Florida's medical cannabis market for the first time. The launch will be implemented across all 39 Green Dragon Florida medical cannabis stores operated by Eaze.

PLUS, which has sold over 200 million gummies in California since 2015, will introduce four best-selling flavors: Sour Watermelon, Blackberry Lemonade, Clementine, and Raspberry. Each package contains twenty 5mg gummies, totaling 100mg per package. The all-natural, vegan gummies are precision-dosed for consistent experience.

This expansion marks Glass House's significant move beyond the California market, targeting Florida's medical cannabis patient base of nearly 1 million people. Eaze currently operates 70 Green Dragon locations across Colorado and Florida.

Glass House Brands (GLASF) has announced a groundbreaking research collaboration with UC Berkeley focused on hemp development. The partnership will explore medicinal product development, hemp genetics improvement, market analysis, supply chain sustainability, and AI automation for cultivation.

The research aims to develop treatments targeting coronaviruses, pain, sleep, inflammation, and cirrhosis. Glass House, which obtained a hemp license in 2024, operates a dedicated R&D greenhouse with an annual capacity of 240,000 pounds of biomass production.

The collaboration will also evaluate data-driven approaches to hemp policy and regulation to reduce uncertainty for California hemp growers. The company positions itself to potentially become one of the largest hemp cultivators in the United States, pending Federal Farm Bill developments and state-level regulatory alignment.

Glass House Brands (GLASF) reported strong Q4 2024 financial results with revenue of $53.0 million, up 31% year-over-year, and full-year revenue of $200.9 million, a 25% increase from 2023. The company achieved significant growth across all three business segments.

Q4 highlights include:

• Adjusted EBITDA of $9.0 million, up 139% year-over-year
• Biomass production reached 165,074 pounds, up 60% year-over-year
• Production cost decreased to $110 per pound from $121 last year
• Gross profit margin was 43%
• Cash balance increased to $36.9 million

The company provided 2025 guidance, projecting Q1 revenue between $42-44 million and full-year revenue of $220-230 million. A new $50 million senior secured loan was secured, extending debt maturity to 2030. Phase III expansion is underway, including Greenhouse 2 retrofit, which is expected to increase total annual capacity to over 1 million pounds of biomass.

Glass House Brands (OTCQX: GLASF) has announced its upcoming Fourth Quarter and Full Year 2024 financial results conference call, scheduled for March 25, 2025, after market close. The vertically-integrated cannabis company will host the conference call at 5:00 p.m. Eastern Time.

Interested participants can access the live webcast through the company's website or dial in directly using the following numbers:

• Toll-free: 1.800.715.9871
• International: +1.646.307.1963
• Conference ID: 5311439#

The webcast will be archived for approximately 30 days, and all historical earnings call materials, including audio files, transcripts, financial statements, and management discussions, will be made available on the company's website.

Glass House Brands (OTCQX: GLASF), a leading vertically integrated cannabis company in the U.S., has announced its participation in the upcoming 37th Annual ROTH Conference in Dana Point, California from March 16-18, 2025.

The company's Chief Financial Officer Mark Vendetti will engage in a fireside chat with Bill Kirk, Managing Director and Senior Research Analyst at ROTH, on Monday, March 17th, 2025, at 2:00pm PT / 5:00pm ET. The discussion will be accessible via live webcast through the company's Investor Relations website.

Additionally, Mr. Vendetti will conduct one-on-one meetings with institutional investors during the conference. Interested parties can arrange meetings by contacting GlassHouseIR@kcsa.com.

Glass House Brands (OTCQX: GLASF) has appointed Jon DeCourcey as Vice President of Investor Relations, effective March 3, 2025. DeCourcey brings significant experience as a former Head of Investor Relations at Ayr Wellness and equity research analyst specializing in the cannabis sector, with previous roles at BTIG, Viridian Capital Advisors, and Canaccord Genuity.

The appointment comes as Glass House, one of the fastest-growing, vertically-integrated cannabis companies in the U.S., continues to execute its strategic vision. DeCourcey succeeds John Brebeck, who is departing to pursue other opportunities. CEO Kyle Kazan expressed confidence in DeCourcey's extensive knowledge and experience to lead the company's investor relations activities.

Glass House Brands (GLASF) has secured a new $50 million senior secured loan maturing on January 31st, 2030. The new facility replaces their previous loan that was due in November 2026, extending the final balloon payment by 3 years. Key highlights include:

- Fixed interest rate of 8.58% for the entire term
- Interest-only payments for first 2 years
- Net cash inflow of $8.1 million after paying fees and previous loan balance
- Preserves $13.1 million in principal payments for 2025-2026

The loan requires maintaining $10 million minimum liquidity and a Fixed-Charge Coverage Ratio of 1.25x. It will be secured by first priority liens on the company's Camarillo, Padaro and Casitas greenhouse facilities and other assets excluding real estate. A $40 million balloon payment is due at maturity.

Glass House Brands has provided updated guidance for Q4 and Full Year 2024, projecting record-high performance. The company expects Full Year 2024 revenue of $200-202 million, representing a 25% year-over-year increase. Q4 revenue is anticipated to be $52-54 million, up 31% year-over-year.

Key Q4 metrics include production costs below $115 per pound (better than previous $125 guidance), adjusted EBITDA of $7-9 million (exceeding prior $3-5 million guidance), and operating cash flow of $7-9 million. Year-end cash is expected to reach $37 million.

For full-year 2024, wholesale biomass average selling price is projected to exceed $243 per pound, with production costs below $125 per pound. The company's retail segment showed strong performance with same-store sales growing around 10%, outpacing the California market by 16 percentage points. The company has also begun Phase III expansion, with Greenhouse 2 expected to generate revenue by Q4 2025.

Glass House Brands (OTCQX: GLASF) has been named to the 2025 OTCQX® Best 50 ranking for the second consecutive year, establishing itself as the only cannabis company to achieve this distinction. The ranking recognizes top-performing companies traded on the OTCQX Best Market, based on one-year total return and average daily dollar volume growth in 2024.

As highlighted by CEO Kyle Kazan, this achievement validates Glass House's commitment to maintaining high business standards while achieving rapid growth in the cannabis industry. The recognition reflects the company's success in expanding its investor audience through the OTCQX platform, which requires companies to meet stringent financial standards, follow best practice corporate governance, and comply with securities laws.

Glass House Brands, recognized as one of the fastest-growing, vertically-integrated cannabis companies in the U.S., trades under multiple symbols including CBOE CA: GLAS.A.U, CBOE CA: GLAS.WT.U, OTCQX: GLASF, and OTCQX: GHBWF.