Welcome to our dedicated page for Planet 13 Hldgs news (Ticker: PLNH), a resource for investors and traders seeking the latest updates and insights on Planet 13 Hldgs stock.
Planet 13 Holdings Inc. (OTCQX: PLNH) generates frequent news as a vertically integrated cannabis company active in Nevada, Florida and Illinois. Its updates often combine operational developments, financial reporting and regulatory commentary, giving investors and industry observers insight into how a multi-state cannabis operator manages growth, costs and market positioning.
News releases from Planet 13 regularly cover quarterly financial results, including revenue, gross profit, net loss and non-GAAP measures such as EBITDA and Adjusted EBITDA prepared under U.S. GAAP. These earnings updates are often accompanied by management commentary on cost reduction efforts, margin trends, and decisions to streamline the company’s footprint, such as divesting a non-core Orange County, California retail store and closing a cultivation facility in Coalinga.
Operational news features the opening of new dispensaries in Florida, including locations in DeLand, Pace, Orange Park and Edgewater, as well as the company’s first Illinois dispensary in Waukegan. Planet 13 also highlights its Las Vegas superstore, described as the nation’s largest dispensary, and the launch of its DAZED! consumption lounge. Product-focused announcements include the rollout of Nano HaHa Soft Chews across Florida, the planned introduction of Dreamland Chocolates in that state, and an exclusive partnership to bring ONI-branded solventless hash rosin products to Planet 13 stores in Florida.
Regulatory and policy commentary appears in Planet 13’s news when it addresses topics such as the potential rescheduling of cannabis under U.S. federal law and the implications for taxation and banking. Corporate governance and capital markets items, such as restricted stock unit grants under an equity compensation plan, are also disclosed. This news page allows readers to follow Planet 13’s financial performance, expansion activities, branded product launches and responses to evolving cannabis regulation.
Planet 13 Holdings Inc. (OTCQX: PLNH) reported Q2 2024 financial results, showing revenue of $31.1 million, a 20.3% increase from Q2 2023. The company posted a net loss of $8.1 million and Adjusted EBITDA of $3.2 million. Gross profit improved to 50.9% from 46.0% in the previous year. Key highlights include:
1. Closing of Florida acquisition, adding 26 medical retail stores, 1 cultivation facility, and 1 production facility.
2. Launch of new Medizin Branded Topicals and Planet 13 Lifestyles brand.
3. Opening of DAZED! consumption lounge.
4. Appointment of David Loop to the Board of Directors.
The company reported strong sequential organic revenue growth and improved margins across operations. Management expressed optimism about future growth, particularly in Florida expansion and innovation in cannabis entertainment and lifestyle branding.
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) has launched its non-cannabis touching Lifestyles brand company and announced its first sponsored athlete, UFC star Chito Vera. The partnership comes just before Vera's upcoming fight on August 3, 2024, at UFC Abu Dhabi, broadcast live on ABC TV. As part of the deal, Vera will promote Planet 13 Fight Club, the company's combat sports-themed division, through social media, podcasts, and event appearances.
The Lifestyles brand strategy aims to expand Planet 13's reach beyond cannabis into mainstream culture, including sports, music, fashion, and entertainment. This move allows Planet 13 to grow globally without the restrictions placed on cannabis products in certain jurisdictions. The company's new Planet 13 Fight Club apparel and gear line, along with the full Lifestyles collection, is available on the Planet 13 Lifestyles website.
Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH), a leading vertically-integrated multi-state cannabis company, has announced the release date for its second quarter 2024 financial results. The company plans to disclose its financial performance for the quarter ended June 30th, 2024, on August 8th, 2024, after market close.
Following the release, Planet 13 will host a conference call to discuss the Q2 results and provide investors with key business highlights, strategy, and outlook. The call will be led by Bob Groesbeck (Co-CEO), Larry Scheffler (Co-CEO), and Dennis Logan (CFO). Investors can participate in the call using the provided toll-free and international dial-in numbers, with an access code of 485073. A replay of the call will also be available.
Planet 13 Holdings announced the launch of Planet 13 FIGHT CLUB and the first Planet 13 FIGHT WEEK, from June 26 to June 29, 2024, coinciding with UFC International Fight Week. The event will feature meet and greets with MMA stars and culminate in a UFC 303 Watch Party at DAZED! Consumption Lounge. The FIGHT CLUB will introduce apparel and MMA gear under the new Planet 13 Lifestyle brand, available for purchase on their e-commerce site launching during Fight Week. Notable MMA fighters and celebrities, including Mike Tyson, will participate.
Planet 13 Holdings (CSE: PLTH, OTCQX: PLNH), a leading multi-state cannabis company, has appointed David Loop to its board of directors. Loop, the former CEO of VidaCann, brings his extensive horticulture and cannabis industry experience to Planet 13, particularly as the company integrates VidaCann and expands in Florida. Under Loop’s leadership, VidaCann became one of the largest retail networks in Florida, with significant per store revenue growth. Lee Fraser will step down from the board to focus on his role as Chief Administrative Officer of Planet 13.
On June 11, 2024, Planet 13, a leading multi-state cannabis company, announced the results of its Annual General Meeting of Stockholders. Key outcomes include the election of directors, with Robert Groesbeck, Larry Scheffler, Lee Fraser, Adrienne O’Neal, and Kevin Martin receiving between 97.31% and 99.33% of votes in favor. Additionally, Davidson & Company LLP was ratified as the independent public accounting firm with 99.25% support. Planet 13 operates in California, Nevada, Illinois, and Florida, focusing on cultivation, production, and dispensary operations. The company aims to build a global brand known for its dispensary operations and innovative cannabis products.
Planet 13 Holdings, a leading multi-state cannabis company, announced preliminary unaudited Q1 2024 financial results for recently acquired VidaCann. The results show significant year-over-year improvements in cultivation and retail, with total revenue at $12.51 million and a gross profit of $5.58 million (45% margin). Operating expenses were reported at $2.98 million (24% of revenue). VidaCann posted a net income before taxes of $2.48 million and an adjusted EBITDA of $2.75 million (22% margin). The acquisition is expected to enhance Planet 13's profitability and cash flow as they plan to open more dispensaries in Florida and introduce new product formats.
Planet 13 Holdings Inc. has completed the acquisition of VidaCann, , after receiving approval from the Florida Office of Medical Marijuana Use and selling all equity interests in Planet 13 Florida, Inc. The acquisition was valued at approximately US$63.4 million, with the consideration including shares of common stock, cash, and promissory notes. VidaCann's former CEO will join Planet 13's board of directors, and there are resale restrictions on the shares issued.
Planet 13 Holdings Inc. announced Q1 2024 financial results with revenue of $22.9 million and a net loss of $5.9 million. They are capitalizing on the rescheduling from schedule I to III for better cash flow. The company aims to grow its Neighborhood store network to offset Nevada market decline. Financially, revenue decreased 8.2%, with a gross profit of $10.5 million and total expenses of $14.1 million. Adjusted EBITDA loss improved due to better gross margin and cost control.
Planet 13 Holdings Inc. (PLNH) will release its first quarter financial results on May 9, 2024, followed by a conference call discussing key business highlights, strategy, and outlook led by top executives. The Company is a prominent vertically-integrated multi-state cannabis company.