2023-03-13 16:14:19 ET
- Glass House Brands press release ( OTC:GLASF ): Q4 Revenue of $32.2M (+75.0% Y/Y) beats by $1.2M .
- Gross Profit was $10.2 million compared to $(0.4) million in Q4 2021 and $8.7 million in Q3 2022.
- Gross Margin was 32%, compared to (2)% in Q4 2021 and gross margin of 31% in Q3 2022.
- Adjusted EBITDA was $(2.6) million, compared to $(9.1) million in Q4 2021 and $(2.7) million in Q3 2022.
- Cost per Equivalent Dry Pound of Production was $127 a decrease of 24% compared to the same period last year and down 5% sequentially versus Q3 2022.
- Equivalent Dry Pound Production was 75,344 pounds, up 153% year-over-year and up 1% sequentially.
- Cash balance was $14.1 million at quarter-end, down 19% from Q3 2022 quarter end.
- Q1 2023 Outlook
- Company expect revenue to be between $27 million and $29 million.
- Company ending cash balance for Q1 23 is forecast to be ~$12.5 million.
- Company are maintaining our revenue guidance of $160 million for 2023
For further details see:
Glass House Brands reports Q4 results