Planet 13 reports Q3 2025 revenue of $23.3M and net loss of $44.0M

Planet 13 Holdings Inc.

Q3 2025 revenue fell 27.6% to $23.3M from $32.2M in Q3 2024, driven by price compression in Nevada and competition in Florida.
Net loss of $44.0M includes a $29.8M non-cash impairment loss; adjusted EBITDA loss was $4.1M.
Gross margin was 21.3%, but excluding one-time costs would have been approximately 45%.
Company announced divestiture and closing of California operations, and opened two dispensaries in Florida (DeLand and Pace).
Cash decreased to $17.2M as of Sept 30, 2025, from $23.4M at Dec 31, 2024; total liabilities rose to $103.9M.

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