Glass House Farms’ Q3 revenue goes up in smoke
July 10 immigration raids at Glass House Farms’ cannabis facilities in Camarillo and Carpinteria resulted in a steep decline in third quarter revenue year-over-year.
According to the Long Beach-based company’s third quarter earnings report released this month, revenue was $38.4 million compared to $63.8 million in third quarter 2024.
The company attributed the revenue dive to revamped hiring and staffing practices for both employees and third-party labor contractors in the wake of the raids in which more than 360 suspected undocumented immigrants were detained.
“As anticipated, the (company’s) actions resulted in temporary worker shortages as well as a planned scaled back in new planting and production,” Kyle Kazan, Glass House co-founder, chair and CEO, said in a press release.
“Our quarterly results reflect the effects of these choices,” he said.
Other third quarter highlights include:
- Gross profit marginwas 31%, compared to 52% in third quarter 2024 and 53% in second quarter 2025.
- Operating cash flowwas negative $5.1 million, compared to plus $13.2 million in third quarter 2024 and $17.7 million in second quarter 2025.
- Equivalent dry pound production was 123,986 pounds, down from 232,295 in third quarter 2024 and 230,748 in second quarter 2025.
During the raid at the Glass House Camarillo facility, farmworker Jaime Alanas Garcia, 57, died after reportedly falling 30 feet from a greenhouse roof while attempting to flee.
Several people, including CSU Channel Islands professor Jonathan Caravello, 37, have been charged by federal prosecutors in connection with sometimes-violent protests outside the Camarillo site during the raid.
Caravello has pleaded not guilty to a felony count of throwing a tear gas cannister at immigration agents and is scheduled to go on trial March 24 in U.S. District Court.
