Glass House Brands Inc. (GLASF) Q4 2025 Earnings Call Transcript

Operator

Good afternoon, ladies and gentlemen. Welcome to the Glass House Brands Fourth Quarter and Full Year 2025 Earnings Call. Matters discussed during today’s conference call may constitute forward-looking statements that are subject to the risks and uncertainties relating to Glass House Brands future financial or business performance. Actual results could differ materially from those anticipated in those forward-looking statements. The risk factors that may affect results are detailed in Glass House Brands’ periodic filings and registration statements. These documents may be accessed via the SEDAR+ database. I’d also like to remind everyone that this call is being recorded today, Wednesday, March 24, 2026. On today’s call, we have Kyle Kazan, Co-Founder, Chairman and Chief Executive Officer of Glass House Brands; and Chief Financial Officer, Mark Vendetti.

Following prepared remarks, management will open up the call to analyst questions. Also joining for questions is Graham Farrar, Co-Founder and President. And with that, I’ll turn the call over to Kyle Kazan.

Kyle Kazan
Co-founder, Chairman & CEO

Thank you, operator, and a hearty hello to all of you for joining today’s call. For greater detail on results, please refer to our fourth quarter and full year earnings press release and full year financial filings. I am pleased to be speaking with you today. 2025 was a year of great progress and achievement for the U.S. cannabis industry and our company. It was also a year of challenges due to the events of this summer. Our entire team continues to rise to