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Cronos vs Glass House Brands: revenue, profit, margins and growth compared

Cronos brought in $193.4M of revenue in fiscal 2025, Glass House Brands $182M in fiscal 2025. Revenue changed by +19.5% at Cronos and -9.4% at Glass House Brands on the year before, so Cronos grew faster. Cronos kept -4.9% of its revenue as net profit, Glass House Brands -16.3%. Free cash flow was $149K at Cronos and -$15.7M at Glass House Brands.

Side by side, latest fiscal year

CRONGLAS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$193.4M$182M
Revenue growth+19.5%-9.4%
Net income-$9.4M-$29.7M
Net margin-4.9%-16.3%
Free cash flow$149K-$15.7M
Free cash flow margin0.1%-8.6%
Earnings per share (diluted)-$0.02-$0.55
Cash$791.8M$23.4M
Debtn/a$68.7M
Price to earningsn/an/a
Market value$1.2B$598.4M
Dividend yieldn/an/a
Rank by revenue in sector#254 of 523 · Health care#261 of 523 · Health care

Over the years

Revenue
CRON FY2019: $13.2MCRON FY2019: $25.6MCRON FY2020: $54.4MCRON FY2021: $79.6MCRON FY2022: $109.3MCRON FY2023: $120.3MCRON FY2024: $161.8MCRON FY2025: $193.4MGLAS FY2021: $48.3MGLAS FY2021: $63.2MGLAS FY2022: $84.9MGLAS FY2023: $160.8MGLAS FY2024: $200.9MGLAS FY2025: $182MFY19FY20FY21FY22FY23FY24FY25
CRON $193.4MGLAS $182M
Net income
CRON FY2019: -$21.6MCRON FY2019: $1.2BCRON FY2020: -$73.1MCRON FY2021: -$396.1MCRON FY2022: -$168.7MCRON FY2023: -$74MCRON FY2024: $41.1MCRON FY2025: -$9.4MGLAS FY2021: -$16.7MGLAS FY2021: -$43.1MGLAS FY2022: -$32.9MGLAS FY2023: -$98.3MGLAS FY2024: $519KGLAS FY2025: -$29.7MFY19FY20FY21FY22FY23FY24FY25
CRON -$9.4MGLAS -$29.7M
Net margin
CRON FY2019: -163.5%CRON FY2019: 4,549.7%CRON FY2020: -134.6%CRON FY2021: -497.5%CRON FY2022: -154.4%CRON FY2023: -61.5%CRON FY2024: 25.4%CRON FY2025: -4.9%GLAS FY2021: -34.5%GLAS FY2021: -68.2%GLAS FY2022: -38.8%GLAS FY2023: -61.1%GLAS FY2024: 0.3%GLAS FY2025: -16.3%FY19FY20FY21FY22FY23FY24FY25
CRON -4.9%GLAS -16.3%
Revenue growth
CRON FY2019: +93.7%CRON FY2020: +112.0%CRON FY2021: +46.5%CRON FY2022: +37.3%CRON FY2023: +10.0%CRON FY2024: +34.5%CRON FY2025: +19.5%GLAS FY2021: +30.9%GLAS FY2022: +34.3%GLAS FY2023: +89.5%GLAS FY2024: +24.9%GLAS FY2025: -9.4%FY19FY20FY21FY22FY23FY24FY25
CRON +19.5%GLAS -9.4%
Free cash flow
CRON FY2019: -$95.8MCRON FY2019: -$169.9MCRON FY2020: -$176.3MCRON FY2021: -$164.8MCRON FY2022: -$92.4MCRON FY2023: -$45.3MCRON FY2024: $6.4MCRON FY2025: $149KGLAS FY2021: -$11.5MGLAS FY2021: -$128.8MGLAS FY2022: -$68.6MGLAS FY2023: $10.9MGLAS FY2024: $18.1MGLAS FY2025: -$15.7MFY19FY20FY21FY22FY23FY24FY25
CRON $149KGLAS -$15.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Cronos and Glass House Brands

Which is bigger by revenue, Cronos or Glass House Brands?

Cronos is bigger by revenue: $193.4M in fiscal 2025, against $182M for Glass House Brands in fiscal 2025.

Which keeps more of its revenue as profit, Cronos or Glass House Brands?

Cronos had a net margin of -4.9% in fiscal 2025; Glass House Brands had -16.3% in fiscal 2025.

Which grew revenue faster, Cronos or Glass House Brands?

In their latest fiscal years revenue changed by +19.5% at Cronos and -9.4% at Glass House Brands.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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