Planet 13 Q1 revenue $22.9M (-8.2% YoY); net loss narrows to $5.9M; Adj EBITDA near break-even

Planet 13 Holdings Inc.

Q1 2024 revenue of $22.9M, down 8.2% from $24.9M in Q1 2023.
Net loss improved to $5.9M from $8.5M; Adj EBITDA loss essentially $0.0M vs -$1.3M.
Gross margin increased to 45.8% from 43.7%, driven by reduced discounting.
Cash rose to $20.8M from $11.8M; VidaCann acquisition and DAZED! lounge opening support growth plan.
No specific guidance change; management highlights potential benefit from cannabis rescheduling.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Planet 13 Holdings Inc. reported the three-month period ended March 31, 2024 results: revenue $22.9 million, net income $5.9 million.

Period: the three-month period ended March 31, 2024
Revenue: $22.9 million
Net income: $5.9 million
Result: reported results

Exact text from the filing

Planet 13 Announces Q1 2024 Financial Results ● Q1 2024 Revenue of $22.9 million ● Q1 2024 Net loss of $5.9 million

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Planet 13 Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-015707

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