Glass House Dominates Earnings With Q1 2025 Report
On our latest Trade To Black podcast, Shadd Dales and Anthony Varrell break a wild earnings season. One standout? Glass House Brands, which many are calling the best earnings report of the quarter with $44.8 million in revenue, a 149% spike in biomass production, and a sharp drop in costs. It’s a performance that’s got investors paying close attention. Then, Top Gun fighter pilot turned psychedelics advocate Matthew “Whiz” Buckley returns with inside access to recent developments in Washington.
Shadd and Anthony sit down with Glass House CEO Kyle Kazan and Co-Founder Graham Farrar to unpack those earnings numbers—but also to talk strategy. They dive into Glass House’s Q1 2025 performance, spotlighting a 49% year-over-year revenue increase and a dramatic cost reduction to $108 per pound of biomass—down from $182 last year. The executives credit their success to strategic operational efficiency, automation, and the unique environmental advantages of their Ventura County facility.
Glass House is aiming to become a national supplier of hemp and cannabinoids, positioning itself ahead of the curve as big brands like Coca-Cola explore cannabinoid-infused products. Looking forward, Kazan and Farrar laid out a clear plan for scaling cannabis flower, hemp-derived THC-A, and brands like PLUS across state lines when federal laws change. They discussed the logic of California dominance—comparing it to how strawberries and wine from California dominate national markets—and confirmed that Glass House is already preparing to be a wholesale supply partner to MSOs in a post-legalization market.
Matthew “Whiz” Buckley marked his personal four-year “rebirth day” after Ibogaine therapy by reporting on a landmark moment: former President Trump explicitly raising the issue of veteran suicide in a recent cabinet meeting. Buckley shared that VA Secretary Denis McDonough acknowledged current approaches are failing and committed to exploring psychedelic therapies—including a direct meeting with Buckley himself.
The conversation revealed that high-level figures in Washington—including the incoming Surgeon General nominee—are now openly supporting psychedelics for mental health treatment.
