Planet 13 Holdings Inc. Q3 2025 Earnings Recap

PLNH Q3 2025 November 13, 2025

Planet 13 reported a challenging Q3 2025 with revenues of $23.3 million, down from $26.6 million in Q2, largely driven by a decline in tourism and operational adjustments. However, initial signs of recovery in October offer encouragement for improved performance in Q4.

Earnings Per Share Miss

$-0.13 vs $-0.02 est.

-556.7% surprise

Revenue Miss

23270211 vs 23300000 est.

-0.1% surprise

Market Reaction

1-Day -11.58%

5-Day -19.84%

30-Day -12.14%

Key Takeaways

SuperStore revenue declined to $9.8 million amid a 10% drop in tourism impacting Las Vegas operations.
Neighborhood store network revenue reached $11.3 million, with Florida recognized as reaching a low point due to quality issues, but showing signs of recovery.
Adjusted EBITDA loss of $4.1 million reflects significant one-time charges, while gross margin was impacted by strategic pricing and inventory clearances.
Cash reserves remain solid at $17.2 million, with minimal capital expenditures expected for the remainder of the year.
Planned exit from California operations is set to be completed in Q1 2026, allowing for a stronger focus on high-return markets.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit PLNH on AllInvestView.