---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-016865"
form_type: "8-K"
ticker: "PLNH"
cik: "0001813452"
company_name: "Planet 13 Holdings Inc."
filed_at: "2025-05-14T23:59:59+00:00"
generated_at: "2026-05-21T09:49:46.999768+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-25-016865
- form_type: 8-K
- ticker: PLNH
- cik: 0001813452
- company_name: Planet 13 Holdings Inc.
- filed_at: 2025-05-14T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1813452/000143774925016865/0001437749-25-016865-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1813452/000143774925016865/plnh20250116_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-016865
- JSON: https://secwatch.observer/filing/0001437749-25-016865.json
- Plain text: https://secwatch.observer/filing/0001437749-25-016865.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.