GlobeNewswire·Aug 12, 2026, 4:21 PM ET

Planet 13 Announces Q2 2026 Financial Results

Planet 13 Holdings Inc. reported Q2 2026 revenue of $22.9 million, a 14.9% decrease compared to the same period in 2025.
The company recorded a net loss of $5.6 million for Q2 2026, an improvement from the $13.3 million loss in Q2 2025.
Adjusted EBITDA for the quarter was a loss of $0.5 million, representing a significant improvement from the $2.4 million loss in the prior year period.
Gross profit increased to $12.3 million (53.9% margin) from $11.7 million (43.4% margin), driven by the exit from California retail/wholesale, cost-cutting initiatives, and a $1.0 million reduction in Florida inventory reserves.
Total expenses decreased by 17.7% to $15.2 million due to company-wide cost-cutting measures.
Florida revenue grew 17.1% quarter-over-quarter, while California exit contributed to overall revenue decline alongside price compression in Nevada.
Cash and restricted cash rose to $16.5 million as of June 30, 2026, from $15.6 million at the end of 2025.
Total assets were $144.3 million, while total liabilities increased to $105.5 million.
On July 27, 2026, the company announced a proposed merger agreement with Vireo Growth Inc. to create a larger, more efficient combined entity.
Due to the pending merger, Planet 13 will not host a conference call to discuss Q2 2026 results.
Recent operational highlights include receiving OMMU approval for a Florida BHO extraction facility on May 9, 2026, and announcing a new Sarasota store on July 22, 2026.