Planet 13 Q4 2023 revenue $23M (-7.5% YoY), net loss $14.3M, Adjusted EBITDA $1.3M

Planet 13 Holdings Inc.

Revenue $23.0M in Q4 2023, down 7.5% YoY from $24.8M; gross profit $11.0M, up 2.8% YoY.
Net loss $14.3M vs $38.6M loss in Q4 2022; Adjusted EBITDA positive $1.3M vs -$0.6M prior year.
Full year 2023 revenue $98.5M (-5.8%), net loss $73.6M; Adjusted EBITDA $1.9M vs -$7.5M in 2022.
As of Dec 31, 2023: cash $11.9M, restricted cash $5.5M, total cash $17.4M, total debt $0.9M.
Results are preliminary and unaudited; full Q4 and FY2023 earnings release scheduled for March 13, 2024.

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 fourth quarter ended December 31, 2023 results: revenue $ 23.0, net income $ (14.3 ).

Period: the fourth quarter ended December 31, 2023
Revenue: $ 23.0
Net income: $ (14.3 )
Result: preliminary results

Exact text from the filing

Preliminary Unaudited Financial Highlights - Q4 2023 (Figures in millions For the Three Months Ended For the Full Year Ended and % change based December 31, December 31, December 31, December 31, on these figures) 2023 2022 change 2023 2022 change Total Revenue $ 23.0 $ 24.8 -7.5 % $ 98.5 $ 104.6 -5.8 % Gross Profit $ 11.0 $ 10.7 2.8 % $ 44.8 $ 48.0 -6.6 % Gross Profit % 47.8 % 43.0 % 11.2 % 46 % 46 % -0.8 % Operating Expenses $ 18.1 $ 45.9 -60.5 % $ 94.8 $ 80.9 17.1 % Operating Expenses % 79 % 185 % 96 % 77 % 24.3 % Net Loss Before Provision for Income Taxes $ (10.3 ) $ (37.7 ) nmf $ (62.1 ) $ (50.8 ) 22.2 % Net Loss $ (14.3 ) $ (38.6 ) nmf $ (73.6 ) $ (59.5 ) 23.6 % Adjusted EBITDA $ 1.3 $ (0.6 ) nmf $ 1.9 $ (7.5 ) nmf Adjusted EBITDA Margin % 5.6 % -3.2 % 1.9 % (7.2 )%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Planet 13 Holdings Inc. reported the full year ended December 31, 2023 results: revenue $ 98.5, net income $ (73.6 ).

Period: the full year ended December 31, 2023
Revenue: $ 98.5
Net income: $ (73.6 )
Result: preliminary results

Exact text from the filing

Preliminary Unaudited Financial Highlights - Q4 2023 (Figures in millions For the Three Months Ended For the Full Year Ended and % change based December 31, December 31, December 31, December 31, on these figures) 2023 2022 change 2023 2022 change Total Revenue $ 23.0 $ 24.8 -7.5 % $ 98.5 $ 104.6 -5.8 % Gross Profit $ 11.0 $ 10.7 2.8 % $ 44.8 $ 48.0 -6.6 % Gross Profit % 47.8 % 43.0 % 11.2 % 46 % 46 % -0.8 % Operating Expenses $ 18.1 $ 45.9 -60.5 % $ 94.8 $ 80.9 17.1 % Operating Expenses % 79 % 185 % 96 % 77 % 24.3 % Net Loss Before Provision for Income Taxes $ (10.3 ) $ (37.7 ) nmf $ (62.1 ) $ (50.8 ) 22.2 % Net Loss $ (14.3 ) $ (38.6 ) nmf $ (73.6 ) $ (59.5 ) 23.6 % Adjusted EBITDA $ 1.3 $ (0.6 ) nmf $ 1.9 $ (7.5 ) nmf Adjusted EBITDA Margin % 5.6 % -3.2 % 1.9 % (7.2 )%

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Source: SEC EDGAR

accession 0001437749-24-005738

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