Glass House Brands Inc. (OTCQX: GLASF) (OTCQX: GHBWF) (NEO:GLAS.A.U) (NEO:GLAS.WT.U) released financial results for its fourth quarter ending December 31, 2022, revealing Q4 net sales of $32.2 million increased 75% from $18.4 million in Q4 2021 and 14% sequentially from $28.3 million in Q3 2022.
Q4 2022 Financial Highlights
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Gross profit was $10.2 million, or 32% of net revenues, compared to $(0.4) million, or (2)%, in Q4 2021 and $8.7 million, or 31% in Q3 2022.
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Gross Margin was 32%, compared to (2)% in Q4 2021 and gross margin of 31% in Q3 2022.
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Adjusted EBITDA was $(2.6) million, compared to $(9.1) million in Q4 2021 and $(2.7) million in Q3 2022.
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Cash balance was $14.1 million at quarter-end, down 19% from …