Planet 13 Q2 revenue falls on California retail exit, price pressure

Planet 13 Holdings

12/08/2026 21:30

Overview
U.S. cannabis operator's Q2 revenue fell 15% yr/yr, driven by California exit and price pressure
Net loss narrowed to $5.6 mln from $13.3 mln a year earlier
Adjusted EBITDA loss shrank to $0.5 mln, reflecting cost cuts and higher gross margin

Outlook
Company did not provide specific financial guidance for the current or future periods

Result Drivers
CALIFORNIA EXIT AND PRICE PRESSURE - Co said revenue decline was driven by exit from California retail and wholesale and continued price compression in Nevada and Florida
GROSS MARGIN IMPROVEMENT - Higher gross margin attributed to California exit, cost and procurement initiatives, and inventory reserve reduction from increased Florida sales
COST CUTTING - Total expenses decreased due to company-wide cost-cutting initiatives

Company press release: ID:nGNX4xvRJX

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$22.90 mln
 
Q2 Net Loss
 
$5.60 mln
 
Q2 Adjusted EBITDA
 
-$500,000
 
Q2 Adjusted EBITDA Margin
 
-2.30%
 

Analyst Coverage
The one available analyst rating on the shares is "buy"

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)