Planet 13 corrects Q1 Adjusted EBITDA to positive $0.68M; revenue $24.9M

Planet 13 Holdings Inc.

Revenue $24.9M, down 3% YoY from $25.7M; gross margin 43.7% vs. 50.2%.
Net loss $6.3M vs. $2.1M loss in Q1 2022; driven by lower gross profit and M&A costs.
Corrected Adjusted EBITDA from loss to $0.68M (margin 2.7%), down from $2.61M in Q1 2022.
Cash $42.7M vs. $52.4M at year-end; total liabilities $41.0M.
Company pursuing accretive M&A and cost reductions; exercised option to buy remaining 51% of Illinois dispensary.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Planet 13 Holdings Inc. reported the first quarter ended March 31, 2023 results: revenue $24.9 million, net income $6.3 million.

Period: the first quarter ended March 31, 2023
Revenue: $24.9 million
Net income: $6.3 million
Result: reported results

Exact text from the filing

Company did not incur an Adjusted EBITDA loss in Q1 2023. The complete news release, as corrected, is below: Planet 13 Announces Q1 2023 Financial Results ● Q1 2023 Revenue of $24.9 million, compared to $24.8 million in Q4 2022 ● Q1 2023 Net loss of $6.3 million ● Q1 2023 Adjusted EBITDA of $0.68 million All figures are reported in United States dollars ($) unless

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Planet 13 Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-014716

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