Planet 13 Holdings, Inc. ( (PLNH) ) has released its Q3 earnings. Here is a breakdown of the information Planet 13 Holdings, Inc. presented to its investors.
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Planet 13 Holdings, Inc. is a vertically-integrated multi-state cannabis company known for its cultivation, production, and dispensary operations, primarily in Nevada and Florida, and is recognized for operating the largest dispensary in the United States located in Las Vegas.
In its third-quarter 2025 earnings report, Planet 13 Holdings, Inc. reported a revenue of $23.3 million, alongside a significant net loss of $44.0 million, which includes a $29.8 million non-cash impairment loss. The company has taken strategic steps to address its financial challenges, including exiting the California market to focus on more profitable operations in Nevada and Florida.
Key financial metrics reveal a 27.6% decrease in revenue compared to the same quarter last year, attributed to price compression and increased competition. The company’s gross profit dropped significantly to $5.0 million from $16.7 million, primarily due to one-time costs in Florida and California. Operating expenses were reduced by 21.3%, but the net loss widened due to impairment losses. Adjusted EBITDA showed a loss of $4.1 million, reflecting lower gross profit and operating leverage.
Despite the challenging quarter, Planet 13’s management remains optimistic about future performance. The company is focusing on improving its cost structure and operational efficiency, with plans to enhance its presence in Nevada and Florida. The introduction of new products and dispensaries, along with the upcoming BHO lab, are expected to contribute to improved margins and sustainable cash flow generation.
Looking ahead, Planet 13 is committed to executing a clear roadmap aimed at disciplined operations and long-term profitability. The company’s strategic focus on its core markets is expected to drive future growth and enhance shareholder value.