---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-034471"
form_type: "8-K"
ticker: "PLNH"
cik: "0001813452"
company_name: "Planet 13 Holdings Inc."
filed_at: "2025-11-12T23:59:59+00:00"
generated_at: "2026-05-16T21:25:43.798101+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-25-034471
- form_type: 8-K
- ticker: PLNH
- cik: 0001813452
- company_name: Planet 13 Holdings Inc.
- filed_at: 2025-11-12T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1813452/000143774925034471/0001437749-25-034471-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1813452/000143774925034471/plnh20250822_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-034471
- JSON: https://secwatch.observer/filing/0001437749-25-034471.json
- Plain text: https://secwatch.observer/filing/0001437749-25-034471.txt

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