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Planet 13 Announces Q4 2024 Financial Results

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Planet 13 Holdings (OTCQX: PLNH) reported Q4 2024 financial results with revenue of $30.3 million, up 31.8% year-over-year, driven by Florida expansion. The quarter saw a net loss of $26.4 million, including an $18.9 million non-cash impairment loss, and $0 Adjusted EBITDA.

Q4 gross profit was $13.1 million with a 43.2% margin, down from 47.8% due to industry-wide price compression and Florida discounting. Full-year 2024 revenue reached $116.4 million, an 18.2% increase, with gross profit of $56.1 million and Adjusted EBITDA of $3.5 million.

The company expanded its retail footprint in Q4 2024 with new dispensary openings in Florida locations: Port Orange, Gulf Breeze, and Panama City. As of period end, Planet 13 maintained $25.4 million in cash and total assets of $206.7 million.

Planet 13 Holdings (OTCQX: PLNH) ha riportato i risultati finanziari del Q4 2024 con un fatturato di 30,3 milioni di dollari, in aumento del 31,8% rispetto all'anno precedente, grazie all'espansione in Florida. Nel trimestre si è registrata una perdita netta di 26,4 milioni di dollari, inclusa una perdita da impairment non monetaria di 18,9 milioni di dollari, e un EBITDA rettificato di $0.

Il profitto lordo del Q4 è stato di 13,1 milioni di dollari con un margine del 43,2%, in calo rispetto al 47,8% a causa della compressione dei prezzi a livello industriale e degli sconti in Florida. Il fatturato complessivo per l'anno 2024 ha raggiunto 116,4 milioni di dollari, con un incremento del 18,2%, un profitto lordo di 56,1 milioni di dollari e un EBITDA rettificato di 3,5 milioni di dollari.

L'azienda ha ampliato la sua presenza al dettaglio nel Q4 2024 con nuove aperture di dispensari in Florida: Port Orange, Gulf Breeze e Panama City. Alla fine del periodo, Planet 13 ha mantenuto 25,4 milioni di dollari in contante e un totale di attivi di 206,7 milioni di dollari.

Planet 13 Holdings (OTCQX: PLNH) reportó los resultados financieros del Q4 2024 con ingresos de 30,3 millones de dólares, un aumento del 31,8% en comparación con el año anterior, impulsado por la expansión en Florida. El trimestre tuvo una pérdida neta de 26,4 millones de dólares, que incluye una pérdida por deterioro no monetaria de 18,9 millones de dólares, y un EBITDA ajustado de $0.

El beneficio bruto del Q4 fue de 13,1 millones de dólares con un margen del 43,2%, disminuyendo del 47,8% debido a la compresión de precios en toda la industria y los descuentos en Florida. Los ingresos del año completo 2024 alcanzaron 116,4 millones de dólares, un aumento del 18,2%, con un beneficio bruto de 56,1 millones de dólares y un EBITDA ajustado de 3,5 millones de dólares.

La empresa amplió su presencia minorista en el Q4 2024 con nuevas aperturas de dispensarios en Florida: Port Orange, Gulf Breeze y Panama City. Al final del período, Planet 13 mantenía 25,4 millones de dólares en efectivo y activos totales de 206,7 millones de dólares.

Planet 13 Holdings (OTCQX: PLNH)는 2024년 4분기 재무 결과를 보고했으며, 매출은 3천만 3백만 달러로 전년 대비 31.8% 증가했으며 이는 플로리다 확장에 힘입은 것입니다. 이 분기 동안 순손실은 2천6백40만 달러였으며, 여기에는 1천8백90만 달러의 비현금 손상 손실이 포함되어 있으며, 조정된 EBITDA는 $0입니다.

4분기 총 이익은 1천3백10만 달러로, 마진은 43.2%로 감소했으며, 이는 산업 전반의 가격 압박과 플로리다의 할인으로 인해 47.8%에서 하락했습니다. 2024년 전체 매출은 1억 1천6백40만 달러에 달하며, 이는 18.2% 증가한 것이고, 총 이익은 5천6백10만 달러이며 조정된 EBITDA는 3백50만 달러입니다.

회사는 2024년 4분기에 플로리다의 Port Orange, Gulf Breeze, Panama City에 새로운 약국을 열어 소매 공간을 확장했습니다. 기간 종료 시점에서 Planet 13은 2천5백40만 달러의 현금과 총 자산 2억 6백70만 달러를 보유하고 있었습니다.

Planet 13 Holdings (OTCQX: PLNH) a publié ses résultats financiers pour le 4ème trimestre 2024, avec des revenus de 30,3 millions de dollars, en hausse de 31,8% par rapport à l'année précédente, grâce à l'expansion en Floride. Le trimestre a enregistré une perte nette de 26,4 millions de dollars, comprenant une perte de valeur non monétaire de 18,9 millions de dollars, et un EBITDA ajusté de $0.

Le bénéfice brut du 4ème trimestre était de 13,1 millions de dollars avec une marge de 43,2%, en baisse par rapport à 47,8% en raison de la compression des prix dans l'industrie et des remises en Floride. Les revenus annuels pour 2024 ont atteint 116,4 millions de dollars, soit une augmentation de 18,2%, avec un bénéfice brut de 56,1 millions de dollars et un EBITDA ajusté de 3,5 millions de dollars.

L'entreprise a élargi sa présence de vente au détail au 4ème trimestre 2024 avec de nouvelles ouvertures de dispensaires en Floride : Port Orange, Gulf Breeze et Panama City. À la fin de la période, Planet 13 disposait de 25,4 millions de dollars en liquidités et d'un total d'actifs de 206,7 millions de dollars.

Planet 13 Holdings (OTCQX: PLNH) hat die Finanzzahlen für das 4. Quartal 2024 veröffentlicht, mit einem Umsatz von 30,3 Millionen Dollar, was einem Anstieg von 31,8% im Vergleich zum Vorjahr entspricht, angetrieben durch die Expansion in Florida. Im Quartal wurde ein Nettoverlust von 26,4 Millionen Dollar verzeichnet, einschließlich eines nicht zahlungswirksamen Wertminderungsverlusts von 18,9 Millionen Dollar und einem bereinigten EBITDA von $0.

Der Bruttogewinn im 4. Quartal betrug 13,1 Millionen Dollar mit einer Marge von 43,2%, was einen Rückgang von 47,8% aufgrund von branchenweiten Preisdrückungen und Rabatten in Florida bedeutet. Der Jahresumsatz 2024 erreichte 116,4 Millionen Dollar, ein Anstieg von 18,2%, mit einem Bruttogewinn von 56,1 Millionen Dollar und einem bereinigten EBITDA von 3,5 Millionen Dollar.

Das Unternehmen hat seine Einzelhandelspräsenz im 4. Quartal 2024 mit neuen Apotheken in Florida: Port Orange, Gulf Breeze und Panama City erweitert. Zum Ende des Berichtszeitraums hielt Planet 13 25,4 Millionen Dollar in bar und hatte Gesamtvermögen von 206,7 Millionen Dollar.

Positive
  • Revenue increased 31.8% YoY to $30.3 million in Q4 2024
  • Full-year revenue grew 18.2% to $116.4 million
  • Full-year Adjusted EBITDA improved 49.2% to $3.5 million
  • Cash position strengthened to $25.4 million from $17.3 million
  • Successful expansion with three new Florida dispensary openings
Negative
  • Q4 net loss of $26.4 million, including $18.9 million impairment
  • Gross margin declined to 43.2% from 47.8% in Q4
  • Q4 Adjusted EBITDA dropped to $0 from $1.3 million YoY
  • Total liabilities increased to $94.0 million from $44.1 million
  • Industry-wide price compression affecting margins

  • Q4 2024 Revenue of $30.3 million
  • Q4 2024 Net loss of $26.4 million, which included a non-cash impairment loss of $18.9 million
  • Q4 2024 Adjusted EBITDA of $0 million

All results are reported in United States dollars ($) unless otherwise indicated.

LAS VEGAS, March 26, 2025 (GLOBE NEWSWIRE) -- Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) (“Planet 13” or the “Company”), a leading vertically-integrated cannabis company, today announced its financial results for the three-month and twelve-month periods ended December 31, 2024. Planet 13’s financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).

“In 2024, despite industry-wide price compression, we remained disciplined in executing our key priorities—expanding our retail footprint, scaling operations, and strengthening our product portfolio and brand equity. These strategic moves position Planet 13 to navigate competitive pressures,” stated Larry Scheffler, Co-CEO of Planet 13.

“As we move into 2025, our focus is on maximizing productivity and efficiency across our footprint. We are taking decisive steps to enhance per-store performance, optimize retail and wholesale operations, and streamline corporate costs—all with a clear goal of strengthening margins and creating a more resilient, high-performing business," said Bob Groesbeck, Co-CEO of Planet 13.

Financial Highlights Q4 2024

Operating Results

All comparisons below are to the quarter ended December 31, 2023, unless otherwise noted

  • Revenues were $30.3 million as compared to $23.0 million, an increase of 31.8%. The increase in revenue was driven by the addition of Florida.
  • Gross profit was $13.1 million or 43.2% as compared to $11.0 million or 47.8%. The decline in gross margin was driven by industry wide price compression and targeted discounting in Florida.
  • Operating expenses were $35.8 million, including $18.9 million in non-cash impairment loss as compared to $18.1 million, an increase of 97.5%
  • Net loss of $26.4 million, including $18.9 million in non-cash impairment loss as compared to a net loss of $14.3 million
  • Adjusted EBITDA of $0.0 million as compared to Adjusted EBITDA of $1.3 million. Adjusted EBITDA margin was lower due to lower gross margin performance.

Financial Highlights Full Year 2024

Operating Results

All comparisons below are to the full year ended December 31, 2023, unless otherwise noted

  • Revenues were $116.4 million as compared to $98.5 million, an increase of 18.2%. The increase in revenue was driven by the addition of Florida.
  • Gross profit was $56.1 million or 48.2% as compared to $44.8 million or 45.5%. Gross margin increased due to the addition of higher margin revenue from Florida, that more than offset the impact of price compression for the full year.
  • Total expenses were $82.6 million as compared to $95.2 million, a decrease of 13.3%. This included a one-time, non-cash $21.3 million impairment. Excluding impairment, total expenses were $61.3 million.
  • Net loss of $47.8 million as compared to a net loss of $73.6 million.
  • Adjusted EBITDA of $3.5 million as compared to Adjusted EBITDA of $2.4 million, an increase of 49.2%.

Balance Sheet

All comparisons below are to December 31, 2023, unless otherwise noted

  • Cash of $25.4 million as compared to $17.3 million
  • Total assets of $206.7 million as compared to $151.7 million
  • Total liabilities of $94.0 million as compared to $44.1 million

Q4 Highlights and Recent Developments

For a more comprehensive overview of these highlights and recent developments, please refer to Planet 13's Management's Discussion and Analysis of the Financial Condition and Results of Operations for the Three and Twelve Months Ended December 31, 2024 (the “MD&A”).

  • On October 15, 2024, Planet 13 announced opening its dispensary in Port Orange, Florida.
  • On December 18, 2024, Planet 13 announced its dispensary in Gulf Breeze, in the Pensacola Metropolitan Area of Florida.
  • On December 26, 2024, Planet 13 opened its dispensary in Panama City, Florida.
  • On March 3, 2025, Planet 13 announced a significant recovery of funds related to El Capitan.

Results of Operations (Summary)

The following table sets forth consolidated statements of financial information for the three-month and full-year periods ended December 31, 2024 and December 31, 2023.

(Figures in millions For the Three Months Ended  For the Full Year Ended 
and % change based December 31,  December 31,      December 31,  December 31,     
on these figures) 2024  2023  change  2024  2023  change 
Total Revenue $30.3  $23.0   31.8% $116.4  $98.5   18.2%
Gross Profit $13.1  $11.0   19.2% $56.1  $44.8   25.2%
Gross Profit %  43.2%  47.8%  -9.6%  48.2%  45.5%  5.9%
Operating Expenses $35.8  $18.1   97.5% $82.6  $95.2   -13.3%
Operating Expenses %  118%  79%      70.9%  96.7%  -26.6%
Net Loss Before Provision for Income Taxes $(25.1) $(10.3)  144.4% $(35.6) $(62.1)  -42.6%
Net Loss $(26.4) $(14.3)  85.4% $(47.8) $(73.6)  -35.1%
Adjusted EBITDA $(0.0) $1.3   -100.4% $3.5  $2.4   49.2%
Adjusted EBITDA Margin %  0.0%  5.6%      3.0%  2.4%    


The Company's Annual Report on Form 10-K for the year ended December 31, 2024, is available on the SEC's website at www.sec.gov or at https://investors.planet13.com/overview/default.aspx. The Company's Management Discussion and Analysis for the year and the accompanying financial statements and notes are available under the Company's profile on SEDAR+ and on its website at https://investors.planet13.com/overview/default.aspx

This news release is not in any way a substitute for reading those financial statements, including the notes to the financial statements.

Conference Call

Planet 13 will host a conference call on March 26, 2025 at 5:00 p.m. ET to discuss its fourth quarter and full year financial results and provide investors with key business highlights, strategy and outlook. The call will be chaired by Bob Groesbeck, Co-CEO, Larry Scheffler, Co-CEO, and Dennis Logan, CFO.

CONFERENCE CALL DETAILS
 
Date: March 26, 2025 | Time: 5:00 p.m. ET
Call Registration Link: https://pinconnect.conferenceconsole.com/PINConf?cb0c4e6a-f291-4fa4-858a-98834141ab84


Non-GAAP Financial Measures

There are financial measures included in this press release that are not in accordance with GAAP and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. These non-GAAP financial measures should be considered as supplemental to, and not a substitute for, our reported financial results prepared in accordance with GAAP. The Company includes EBITDA and Adjusted EBITDA because it believes certain investors use these measures and metrics as a means of assessing financial performance. EBITDA is calculated as net income (loss) before interest, taxes, depreciation and amortization, and Adjusted EBITDA is calculated as EBITDA before share-based compensation, the change in fair value of warrants and one-time non-recurring expenses.

The following table presents a reconciliation of net income (loss) to Adjusted EBITDA for each of the periods presented:

Reconciliation of Non-GAAP Adjusted EBITDA                        
(Figures in millions For the Three Months Ended  For the Full Year Ended 
and % change based December 31,  December 31,      December 31,  December 31,     
on these figures) 2024  2023  change  2024  2023  change 
                         
Net Loss $(26.4) $(14.3)  85.4% $(47.8) $(73.6)  -35.1%
Add impact of:                        
Interest expense $(0.0) $(0.1)  -72.5% $0.3  $(0.2)  -270.2%
Provision for income taxes $1.3  $4.0   -67.3% $12.2  $11.5   5.7%
Depreciation and amortization $2.3  $2.0   15.5% $8.9  $8.2   8.3%
Depreciation included in cost of goods sold $1.3  $1.0   32.4% $3.3  $2.4   35.2%
EBITDA $(21.6) $(7.5)  189.6% $(23.1) $(51.7)  -55.2%
Impairment of goodwill and other intangibles $18.9  $7.2      $21.3  $46.8     
Change in fair value of warrants $-  $-   0.0% $-  $(0.0)  -100.0%
Professional fees expensed related to M&A activities $0.8  $0.2   244.7% $1.2  $2.6   -54.8%
Professional fees expensed related to SEC Domestic Issuer Form 10 filing and U.S Domestication from British Columbia to Nevada $-  $-   0.0% $-  $0.3   -100.0%
Expenses related to El Capitan Matter $0.6  $-   0.0% $2.6  $-   0.0%
Loss related to discontinued Planet 13 Florida Inc operations $-  $-   0.0% $1.5  $1.8   -18.6%
Share-based compensation and related premiums $1.3  $1.3   0.0% $0.2  $2.5   -92.8%
Adjusted EBITDA $(0.0) $1.3   -100.4% $3.5  $2.4   49.2%


About Planet 13

Planet 13 (https://planet13.com) is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois, and Florida. Home to the nation's largest dispensary, located just off The Strip in Las Vegas, Planet 13 continues to expand its footprint with the recent debut of its first consumption lounge in Las Vegas, DAZED!, the opening of its first Illinois dispensary in Waukegan, bringing unparalleled cannabis experiences to the Chicago metro area. Planet 13 operates 30 dispensaries across Florida, a key market in its expansive footprint, bringing its total to 34 locations nationwide. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and innovative cannabis products. Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under U.S. federal law. Planet 13's shares trade on the Canadian Securities Exchange (CSE) under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH. To learn more, visit planet13.com and follow Planet 13 on X @ShopPlanet13 and on Instagram @planet13official_.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are often, but not always, identified by phrases such plans, expects, proposed, may, could, would, intends, anticipates, or believes, or variations of such words and phrases. In this news release, forward-looking statements relate to the Companys fourth quarter 2024 financial performance and expectations for future financial performance. Such forward-looking statements reflect what management of the Company believes, or believed at the time, to be reasonable assumptions and accordingly readers are cautioned not to place undue reliance upon such forward-looking statements and that actual results may vary from such forward-looking statements. These assumptions, risks and uncertainties which may cause actual results to differ include, among others, those assumptions, risks and uncertainties discussed under the heading “Risk Factors” in the Companys Annual Report on Form 10-K/A for the year ended December 31, 2024 and any of the Companys subsequent periodic reports filed with the U.S. Securities and Exchange Commission at www.sec.gov and on SEDAR+ at www.sedarplus.ca. Forward-looking statements contained herein are made only as to the date of this press release and we assume no obligation to update or revise any forward-looking statements should they change, except as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

For further inquiries, please contact:         

LodeRock Advisors Inc., Planet 13 Investor Relations
mark.kuindersma@loderockadvisors.com

Bob Groesbeck and Larry Scheffler
Co-Chief Executive Officers
ir@planet13lasvegas.com

 
 
PLANET 13 HOLDINGS INC.
Interim Condensed Consolidated Balance Sheets
(In United States Dollars)

      
      
 December 31,  December 31, 
 2024  2023 
ASSETS       
Current Assets:       
Cash$23,384,493  $11,831,008 
Restricted Cash 2,050,584   5,450,584 
Accounts Receivable 1,473,156   1,195,927 
Inventory 22,821,994   15,760,648 
Asset held for sale -   9,000,000 
Prepaid Expenses and Other Current Assets 4,568,816   4,072,820 
        
Total Current Assets 54,299,043   47,310,987 
        
Property, Plant and Equipment 63,511,423   67,551,697 
Intangible Assets and Goodwill 48,763,931   15,253,797 
Right of Use Assets - Operating 38,229,399   20,054,369 
Long-term Deposits and Other Assets 1,033,758   869,853 
Deferred Tax Asset 896,525   706,038 
        
TOTAL ASSETS$206,734,079  $151,746,741 
        
LIABILITIES AND SHAREHOLDERS' EQUITY       
        
LIABILITIES       
Current:       
Accounts Payable$7,421,921  $2,850,922 
Accrued Expenses 7,285,415   6,097,641 
Income Taxes Payable 139,480   4,782,538 
Notes Payable - Current Portion 8,681,684   884,000 
Operating Lease Liabilities 1,818,588   674,594 
        
Total Current Liabilities 25,347,088   15,289,695 
        
Long-Term Liabilities:       
Operating Lease Liabilities 46,448,666   25,271,706 
Other Long-term Liabilities 1,220,722   33,000 
Uncertain Tax Positions 19,321,475   - 
Deferred Tax Liability 1,682,207   3,511,559 
        
Total Liabilities 94,020,158   44,105,960 
        
Shareholders' Equity       
Common Stock, no par value, 1,500,000,000 shares authorized, 325,163,800 issued and outstanding at December 31, 2024 and 223,317,270 at December 31, 2023 -   - 
Preferred Stock, no par value, 50,000,000 shares authorized, 0 issued and outstanding at December 31, 2024 and 0 at December 31, 2023 -   - 
Additional Paid-In Capital 368,821,339   315,951,343 
Deficit (256,107,418)  (208,310,562)
Total Shareholders' Equity 112,713,921   107,640,781 
        
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY$206,734,079  $151,746,741 


 
PLANET 13 HOLDINGS INC.
Interim Condensed Consolidated Statements of Operations and Comprehensive Loss  
(In United States Dollars, except share amounts)

 
 
 December 31, 
 2024  2023 
        
Revenues, net of discounts$116,408,966  $98,505,170 
Cost of Goods Sold (60,298,520)  (53,682,026)
Gross Profit 56,110,446   44,823,144 
        
Expenses:       
General and Administrative 51,171,892   42,421,172 
Sales and Marketing 5,805,721   5,368,473 
Lease Expense 4,511,997   3,105,996 
Impairment loss 21,275,942   46,846,866 
Depreciation and Amortization 8,860,921   8,180,465 
        
Total Expenses 91,626,473   105,922,972 
        
Loss From Operations (35,516,027)  (61,099,828)
        
Other Income (Expense):       
Interest income (expense), net (333,082)  195,722 
Foreign exchange gain (loss) (14,942)  3,653 
Change in fair value of warrant liability -   18,127 
Provision for stolen funds -   (2,000,000)
Other Income, net 257,438   807,023 
        
Total Other Income (Expense) (90,586)  (975,475)
        
Loss Before Provision for Income Taxes (35,606,613)  (62,075,303)
        
Provision For Income Taxes       
Current Tax expense (14,210,082)  (9,868,881)
Deferred Tax recovery (expense) 2,019,839   (1,664,574)
  (12,190,243)  (11,533,455)
        
Net Loss and Comprehensive Loss$(47,796,856) $(73,608,758)
        
Loss per Share       
Basic and diluted loss per share$(0.16) $(0.33)
        
Weighted Average Number of Shares of Common Stock       
Basic and diluted 292,166,589   221,964,287 


 
PLANET 13 HOLDINGS INC.
Interim Condensed Consolidated Statements of Cash Flows 
(In United States Dollars)

 
 
 December 31, 2024  December 31, 2023 
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES       
Net loss$(47,796,856) $(73,608,758)
Adjustments for items not involving cash:       
Share based compensation 180,308   2,520,407 
Non-cash lease expense 2,047,680   4,974,644 
Depreciation 13,414,690   12,147,052 
Change in fair value of warrant liability -   (18,127)
Deferred tax recovery (1,829,352)  2,024,355 
Lease incentive amortization (109,109)  (109,902)
Loss on impairment of fixed assets 11,885,063   - 
Loss on impairment of ROU assets 3,239,536   - 
Loss on impairment of intangible assets 6,151,343   46,846,866 
Loss on disposal of intangible assets 762,091   - 
Loss on disposal of property and equipment 78,563   180,177 
Finders shares issued in VidaCann acquisition 750,000   - 
Shares issued for SDC settlement -   728,700 
  (11,226,043)  (4,314,586)
        
Net Changes in Non-cash Working Capital Items 17,469,125   (3,589,711)
Repayment of lease liabilities (1,032,183)  (4,141,221)
Total Operating 5,210,899   (12,045,518)
        
FINANCING ACTIVITIES       
        
Taxes paid in lieu of share issuance - RSUs (45,833)  (267,529)
Proceeds from public share issuance, net of share issuance costs 9,862,207   - 
Net Cash From VidaCann Acquisition 911,715   - 
VidaCann Acquisition-Cash Component (4,000,000)  - 
Total Financing 6,728,089   (267,529)
        
INVESTING ACTIVITIES       
        
Purchase of property, plant and equipment (12,044,412)  (8,393,593)
Proceeds from sale of fixed assets 21,000   64,878 
Purchase of licenses -   (866,250)
Proceeds from sale of licenses 8,237,909   - 
Total Investing (3,785,503)  (9,194,965)
        
NET CHANGE IN CASH DURING THE YEAR 8,153,485   (21,508,012)
        
CASH AND RESTRICTED CASH       
Beginning of Year 17,281,592   38,789,604 
        
End of Year$25,435,077  $17,281,592 

FAQ

What was Planet 13's (PLNH) revenue growth in Q4 2024?

Planet 13's Q4 2024 revenue grew 31.8% year-over-year to $30.3 million, primarily driven by Florida expansion.

How did PLNH's gross margin perform in Q4 2024?

Gross margin declined to 43.2% from 47.8% due to industry-wide price compression and targeted discounting in Florida.

What new dispensaries did Planet 13 (PLNH) open in Q4 2024?

Planet 13 opened three new dispensaries in Florida: Port Orange (October), Gulf Breeze (December), and Panama City (December).

What was Planet 13's (PLNH) full-year 2024 financial performance?

Full-year revenue was $116.4 million (+18.2% YoY) with Adjusted EBITDA of $3.5 million (+49.2% YoY).

How much cash does Planet 13 (PLNH) have as of Q4 2024?

Planet 13 reported $25.4 million in cash, up from $17.3 million in the previous year.
Planet 13 Hldgs Inc

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