Planet 13 Hldgs Inc Stock Price, News & Analysis

Planet 13 Holdings (OTCQX: PLNH) reported challenging Q1 2025 financial results, with revenue increasing 22.5% to $28.0 million compared to Q1 2024, primarily driven by Florida expansion. Despite revenue growth, the company faced headwinds with a net loss of $2.0 million and Adjusted EBITDA loss of $2.5 million. Gross profit margin declined to 42.8% from 45.8% due to industry-wide pricing pressure.

Operating expenses increased 31.6% to $18.6 million, mainly due to Florida operations. The company's cash position decreased to $15.6 million from $23.4 million in December 2024. During Q1, Planet 13 expanded its Florida presence with new dispensaries in Port Richey, Orange Park, and Edgewater.

Planet 13 Holdings (OTCQX: PLNH), a leading vertically-integrated multi-state cannabis company, has scheduled the release of its Q1 2025 financial results for May 14th, 2025, after market close. The company will host a conference call on the same day at 5:00 p.m. ET to discuss the quarterly results and provide business updates.

The conference call will be led by key executives including Co-CEOs Bob Groesbeck and Larry Scheffler, along with CFO Dennis Logan, who will present highlights, strategy, and outlook for the company.

Planet 13 has announced the grand opening of its 33rd Florida dispensary in Edgewater, scheduled for May 31, 2025. The new 3,000-square-foot facility, located at 1308 S Ridgewood Ave, marks the company's 37th dispensary nationwide.

The Edgewater location is strategically positioned on U.S. Highway 1, a major retail corridor, offering convenient access for medical cannabis patients. The dispensary shares a fully leased, dual-tenant property with Taco Bell, ensuring consistent foot traffic. Operating hours will be Monday through Sunday, 9 a.m. to 7 p.m.

This expansion strengthens Planet 13's presence in East Central Florida, specifically serving Volusia County and surrounding metropolitan areas. The location's selection reflects the area's growing population and increasing demand for medical cannabis access.

Planet 13 announces a groundbreaking collaboration as Rock and Roll Hall of Famer George Clinton partners with Wiz Khalifa to launch "The FUNK" cannabis product at Planet 13 Las Vegas. The exclusive meet-and-greet event is scheduled for May 2, 2025, at 4:00 p.m.

"The FUNK" combines Motorbreath flower and Daily Grape live resin, creating a unique blend with gas, diesel, and sweet grape notes. The product will be available exclusively at Planet 13 stores, building on the success of Khalifa Kush's existing presence at the company's 112,000 square-foot Entertainment Complex.

Following the meet-and-greet, guests (21+) can visit the DAZED! Consumption Lounge. This launch reinforces Planet 13's position as a premier destination for celebrity cannabis product launches, with the Las Vegas SuperStore becoming a hub for exclusive brand showcases and artist interactions.

Planet 13 Holdings (OTCQX: PLNH) announced the grand opening of its 32nd Florida dispensary in Orange Park, scheduled for April 4-5, 2025. The new 4,680-square-foot facility, located at 921 N Blanding Blvd, will serve the Jacksonville medical cannabis community.

The dispensary is strategically positioned in front of Walmart and across from Publix on a high-traffic retail corridor with 58,000 daily passing vehicles. The location benefits from a daytime population of nearly 125,000 within a five-mile radius. The facility will operate daily from 9 a.m. to 8 p.m.

The grand opening celebrations include a ribbon-cutting ceremony with local business owners and the Clay County Chamber of Commerce, featuring a DJ, LifeSouth Blood Donation Bus, and an MMJ doctor providing medical card information.

Planet 13 Holdings has announced the grant of Restricted Stock Units (RSUs) to its officers, directors, and employees on March 31, 2025. Under the company's 2023 Equity Compensation Plan, a total of 13,776,345 RSUs were awarded, with 9,255,085 RSUs allocated to directors and officers, and 4,521,260 RSUs to employees. The RSUs will vest in three equal portions on May 16 of 2026, 2027, and 2028, subject to potential variations according to the Plan's terms.

Planet 13 Holdings (OTCQX: PLNH) announced the grand opening of its 31st Florida dispensary in Port Richey, marking its expansion in the Tampa Bay region. The new 3,465-square-foot dispensary, located at 6939 Ridge Road, will celebrate its opening on March 28-29, 2025, featuring a ribbon-cutting ceremony with the Greater Pasco Chamber of Commerce.

The strategically positioned location on Ridge Road offers high visibility and accessibility, operating daily from 9 a.m. to 8 p.m. The facility features a modern retail space designed to serve the growing medical cannabis community in one of Florida's fastest-expanding regions. The grand opening celebrations will include live DJ performances and an on-site doctor providing medical card information.

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), a vertically-integrated multi-state cannabis company, has scheduled the release of its Q4 and full-year 2024 financial results for March 26, 2025, after market close. The company will host a conference call on the same day at 5:00 p.m. ET to discuss the financial results and provide business highlights, strategy, and outlook updates. The call will be led by Co-CEOs Bob Groesbeck and Larry Scheffler, along with CFO Dennis Logan.