Planet 13 Q1 revenue drops 24.8% to $21.1M; net loss widens to $8.1M

Planet 13 Holdings Inc.

Revenue $21.1M vs $28.0M YoY, driven by California exit and price compression in Nevada and Florida.
Net loss $8.1M vs $2.0M YoY; Adjusted EBITDA loss $2.3M vs $2.5M YoY.
Gross margin improved to 44.6% from 42.8% on California exit and cost actions; operating expenses down 22.6%.
Completed exit from California in February 2026; appointed Nancy Saitta and Leilani Bradford to board in May.
Cash and restricted cash $16.3M vs $15.6M at year-end 2025.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Planet 13 Holdings Inc. reported first quarter ended March 31, 2026 results: revenue $21.1 million, net income $8.1 million.

Period: first quarter ended March 31, 2026
Revenue: $21.1 million
Net income: $8.1 million
Result: reported results

Exact text from the filing

Planet 13 Announces Q1 2026 Financial Results ● Q1 2026 Revenue of $21.1 million ● Q1 2026 Net loss of $8.1 million

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Planet 13 Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001437749-26-016788

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