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Vegas-Based Planet 13 First Quarter: $22.9M Revenue, $5.9M Net Loss, Gears Up For Florida Expansion
Planet 13 Holdings Inc. (OTC: PLTH), a leading vertically integrated multi-state cannabis company, unveiled its financial performance for the first quarter ending March 31, 2024. The company reported revenue of $22.9 million, with a net loss of $5.9 million and an adjusted EBITDA loss of $0.0 million.
Revenue
Despite challenges, the company achieved revenue of $22.9 million in Q1 2024, a slight decrease from $24.9 million in the previous year.
Gross Profits
Gross profit for Q1 2024 amounted to $10.5 million, reflecting a marginal decline from $10.9 million in Q1 2023.
Gross Margin
Planet 13 experienced a higher gross margin of 45.8% in Q1 2024, compared to 43.7% in the same period the ...