earnings
confidence high
sentiment negative
materiality 0.80
Planet 13 Q2 revenue falls 13.6% to $26.9M; net loss widens to $13.3M
Planet 13 Holdings Inc.
- Revenue $26.9M, down 13.6% YoY; gross profit margin fell to 43.4% from 50.9%.
- Net loss of $13.3M compared to $8.1M loss a year ago; adj. EBITDA loss $2.4M vs +$3.2M.
- Operating expenses fell 4.6% to $18.5M due to cost-saving measures enacted in Q2.
- Cash balance $15.9M, down from $23.4M at Dec 31, 2024; total liabilities $103.1M.
- CFO Dennis Logan resigned Apr 30; Steve McLean appointed as interim CFO.
item 2.02item 9.01