Glass House Farms Gives Back to Local Santa Barbara Community Amid COVID-19 Pandemic

  • The company reports a loss of $15.6 million for all of 2019, compared with $11.8 million net income in 2018 a 232% decrease from the year prior.
  • During a recent earnings call, CEO Deanie Elsner attributed the Q4 loss to a slowdown of growth in the food/drug/mass (FDM) retail channels because of regulatory uncertainty, as well as an oversaturation of products in the market.
  • Charlotte’s Web is a leader in CBD ingestible products, and Abacus is a leader in CBD topical products.
  • For the full year 2019, the company’s business-to-business (B2B) channel grew 33% and its direct-to-consumer (DTC) e-commerce business grew 39%.
  • In the B2B business, the natural channels grew sales by 13% versus a year ago and FDM sales grew 361%.

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