Planet 13 Q1 2025 revenue $28M (+22.5% YoY), adjusted EBITDA loss widens to $2.5M

Planet 13 Holdings Inc.

Net loss improved to $2.0M from $5.9M YoY; gross margin fell to 42.8% from 45.8%.
Adjusted EBITDA loss of $2.5M vs. break-even a year ago; cites pricing pressure and soft tourism.
Cash dropped to $15.6M from $23.4M at year-end 2024; total assets $203.8M.
Opened three Florida dispensaries in Q1/early Q2: Port Richey, Orange Park, Edgewater.
Management accelerating cost alignment and focusing on high-performing assets.

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