These dispensaries are also growing fast, and the company increased its footprint by more than tripling this number between 2022 and 2023

 These dispensaries are also growing fast, and the company increased its footprint by more than tripling this number between 2022 and 2023

. Now they have 10 facilities able to distribute, which are also strategically located nearby the cultivation and manufacturing facilities. Most of the additions took place through strategic M&A which, given the conservative valuations of 2022-2023, is also probably a cheaper option than building.

The turning point: Revenue growth and profitability

One of the other positives of Glass House is its economics. Indeed, despite its relatively small scale, they are able to keep production costs very contained. The cost per LB was $127 in 2022 and is guided at $120 for 2023. The average cost in the US is between $150 and $250, so Glass House is very competitive on this side.

The other positive news is also seeing the real execution skills at work: the production costs came down significantly in the last years as a result of scaling.