Planet 13 Hldgs Inc Financials
This page shows Planet 13 Hldgs Inc (PLNH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
For every $1 of reported earnings, Planet 13 Hldgs Inc generates $0.22 in operating cash flow (-$14.2M OCF vs -$63.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Planet 13 Hldgs Inc generated $103.4M in revenue in fiscal year 2025. This represents a decrease of 11.2% from the prior year.
Planet 13 Hldgs Inc reported -$63.9M in net income in fiscal year 2025. This represents a decrease of 33.7% from the prior year.
Cash & Balance Sheet
Planet 13 Hldgs Inc generated -$20.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 203.9% from the prior year.
Planet 13 Hldgs Inc had 328M shares outstanding in fiscal year 2025. This represents an increase of 0.9% from the prior year.
Margins & Returns
Planet 13 Hldgs Inc's gross margin was 38.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 9.6 percentage points from the prior year.
Planet 13 Hldgs Inc's net profit margin was -61.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 20.8 percentage points from the prior year.
Capital Allocation
Planet 13 Hldgs Inc invested $6.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 45.4% from the prior year.
PLNH Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $23.3M-13.3% | $26.9M-4.2% | $28.0M-7.4% | $30.3M-5.8% | $32.2M+3.4% | $31.1M+35.9% | $22.9M-0.4% | $23.0M |
| Cost of Revenue | $18.3M+20.5% | $15.2M-5.2% | $16.0M-6.8% | $17.2M+11.2% | $15.5M+1.4% | $15.3M+23.1% | $12.4M+3.4% | $12.0M |
| Gross Profit | $5.0M-57.5% | $11.7M-2.9% | $12.0M-8.3% | $13.1M-21.6% | $16.7M+5.4% | $15.8M+51.0% | $10.5M-4.6% | $11.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $12.0M-12.1% | $13.6M-2.7% | $14.0M-0.6% | $14.1M-4.6% | $14.8M+20.3% | $12.3M+22.5% | $10.0M+13.2% | $8.9M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | -$92K+75.6% | -$377K-113.9% | -$176K+62.7% | -$472K-1661.3% | $30K-64.2% | $85K+244.4% | $25K-31.8% | $36K |
| Income Tax | $818K-87.3% | $6.4M+2646.7% | $234K-82.1% | $1.3M-70.9% | $4.5M+10.9% | $4.1M+72.8% | $2.3M-41.0% | $4.0M |
| Net Income | -$44.0M-230.5% | -$13.3M-549.7% | -$2.0M+92.3% | -$26.4M-256.7% | -$7.4M+8.2% | -$8.1M-37.4% | -$5.9M+58.8% | -$14.3M |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PLNH Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $158.5M-21.1% | $201.0M-1.4% | $203.8M-1.4% | $206.7M-14.9% | $243.0M+0.2% | $242.4M+54.0% | $157.4M+3.7% | $151.7M |
| Current Assets | $45.1M-9.5% | $49.8M-3.8% | $51.7M-4.7% | $54.3M-6.7% | $58.2M+6.4% | $54.7M+3.6% | $52.7M+11.5% | $47.3M |
| Cash & Equivalents | $17.2M+8.4% | $15.9M+1.9% | $15.6M-33.5% | $23.4M-14.7% | $27.4M+2.8% | $26.7M+28.4% | $20.8M+75.6% | $11.8M |
| Inventory | $20.1M-18.2% | $24.5M+1.3% | $24.2M+6.0% | $22.8M+0.1% | $22.8M+9.6% | $20.8M+22.4% | $17.0M+7.9% | $15.8M |
| Accounts Receivable | $1.7M+7.7% | $1.6M-2.4% | $1.6M+10.9% | $1.5M+13.8% | $1.3M+20.2% | $1.1M+4.0% | $1.0M-13.4% | $1.2M |
| Goodwill | N/A | N/A | N/A | N/A | $45.2M-3.1% | $46.7M | N/A | $0 |
| Total Liabilities | $103.9M+0.8% | $103.1M+10.7% | $93.1M-1.0% | $94.0M+1.9% | $92.3M+9.4% | $84.4M+84.8% | $45.6M+3.5% | $44.1M |
| Current Liabilities | $26.5M-3.8% | $27.5M+9.0% | $25.3M-0.3% | $25.3M-40.5% | $42.6M+22.6% | $34.7M+113.1% | $16.3M+6.6% | $15.3M |
| Long-Term Debt | $1.2M+1.2% | $1.2M+1.2% | $1.2M+1.1% | $1.2M | N/A | N/A | N/A | $884K |
| Total Equity | $54.6M-44.3% | $97.9M-11.6% | $110.7M-1.8% | $112.7M-25.2% | $150.7M-4.7% | $158.1M+41.5% | $111.7M+3.8% | $107.6M |
| Retained Earnings | -$315.4M-16.2% | -$271.5M-5.2% | -$258.2M-0.8% | -$256.1M-11.5% | -$229.7M-3.3% | -$222.3M-3.8% | -$214.2M-2.8% | -$208.3M |
PLNH Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.2M-238.4% | -$1.2M+76.3% | -$5.2M-262.4% | -$1.4M-149.7% | $2.9M-44.6% | $5.2M+463.0% | -$1.4M-66.7% | -$858K |
| Capital Expenditures | $849K-62.7% | $2.3M-15.4% | $2.7M+5.0% | $2.6M+4.1% | $2.5M-39.5% | $4.1M+38.1% | $2.9M+25.4% | $2.4M |
| Free Cash Flow | -$5.0M-42.8% | -$3.5M+55.5% | -$7.9M-97.3% | -$4.0M-1058.3% | $417K-62.9% | $1.1M+125.6% | -$4.4M-36.4% | -$3.2M |
| Investing Cash Flow | $5.5M+340.8% | -$2.3M+15.4% | -$2.7M-5.6% | -$2.5M-3.6% | -$2.5M-159.1% | $4.2M+241.6% | -$2.9M-25.2% | -$2.4M |
| Financing Cash Flow | $0-100.0% | $1.8M+3241.7% | $52K+214.3% | -$46K-114.2% | $322K+109.3% | -$3.5M-134.9% | $9.9M+330461966.7% | -$3 |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PLNH Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.3%-22.1pp | 43.4%+0.6pp | 42.8%-0.4pp | 43.2%-8.7pp | 51.9%+1.0pp | 50.9%+5.1pp | 45.8%-2.0pp | 47.8% |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | -188.9%-139.4pp | -49.5%-42.2pp | -7.3%+80.0pp | -87.3%-64.3pp | -23.1%+2.9pp | -26.0%-0.3pp | -25.7%+36.4pp | -62.1% |
| Return on Equity | -80.5%-67.0pp | -13.6%-11.7pp | -1.8%+21.6pp | -23.5%-18.5pp | -4.9%+0.2pp | -5.1%+0.2pp | -5.3%+8.0pp | -13.3% |
| Return on Assets | -27.7%-21.1pp | -6.6%-5.6pp | -1.0%+11.8pp | -12.8%-9.7pp | -3.0%+0.3pp | -3.3%+0.4pp | -3.7%+5.7pp | -9.4% |
| Current Ratio | 1.70-0.1 | 1.81-0.2 | 2.05-0.1 | 2.14+0.8 | 1.37-0.2 | 1.57-1.7 | 3.24+0.1 | 3.09 |
| Debt-to-Equity | 0.02+0.0 | 0.010.0 | 0.010.0 | 0.01-0.6 | 0.61+0.1 | 0.53+0.1 | 0.41+0.4 | 0.01 |
| FCF Margin | -21.5%-8.4pp | -13.1%+15.1pp | -28.1%-14.9pp | -13.2%-14.5pp | 1.3%-2.3pp | 3.6%+22.7pp | -19.1%-5.2pp | -14.0% |
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Frequently Asked Questions
What is Planet 13 Hldgs Inc's annual revenue?
Planet 13 Hldgs Inc (PLNH) reported $103.4M in total revenue for fiscal year 2025. This represents a -11.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Planet 13 Hldgs Inc's revenue growing?
Planet 13 Hldgs Inc (PLNH) revenue declined by 11.2% year-over-year, from $116.4M to $103.4M in fiscal year 2025.
Is Planet 13 Hldgs Inc profitable?
No, Planet 13 Hldgs Inc (PLNH) reported a net income of -$63.9M in fiscal year 2025, with a net profit margin of -61.8%.
What is Planet 13 Hldgs Inc's gross margin?
Planet 13 Hldgs Inc (PLNH) had a gross margin of 38.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Planet 13 Hldgs Inc's net profit margin?
Planet 13 Hldgs Inc (PLNH) had a net profit margin of -61.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Planet 13 Hldgs Inc's free cash flow?
Planet 13 Hldgs Inc (PLNH) generated -$20.8M in free cash flow during fiscal year 2025. This represents a -203.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Planet 13 Hldgs Inc's operating cash flow?
Planet 13 Hldgs Inc (PLNH) generated -$14.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Planet 13 Hldgs Inc's capital expenditures?
Planet 13 Hldgs Inc (PLNH) invested $6.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
Are Planet 13 Hldgs Inc's earnings high quality?
Planet 13 Hldgs Inc (PLNH) has an earnings quality ratio of 0.22x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.