Planet 13 Q4 revenue $25.2M, net loss $4.6M; full-year loss widens to $63.9M

Planet 13 Holdings Inc.

Q4 revenue $25.2M, down 16.7% YoY; full-year revenue $103.4M, down 11.2%.
Q4 net loss $4.6M vs $26.4M (incl. $18.9M impairment) last year; adjusted EBITDA loss $0.3M.
Full-year net loss $63.9M vs $47.8M; includes $29.8M non-cash impairment charges.
Cash dropped to $15.6M from $23.4M; total liabilities rose to $101.2M from $94.0M.
Opened two Florida dispensaries in Oct 2025; completed exit from California in Feb 2026.

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