Glass House Brands Inc (TSE:GLAS.A.U) has released an update.
Glass House Brands Inc. has reported a promising start to 2024 with first-quarter revenues climbing to $30.1 million, a 9% increase from the previous year, while also enhancing production efficiency with a 28% year-over-year increase in biomass production and a 7% reduction in production costs. Despite a sequential decrease in net sales and gross margin, the company remains optimistic with a healthy cash balance of $24 million and projects a record-setting revenue range of $52-$54 million for the second quarter.
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