Planet 13 Announces Q3 2026 Financial Results
Globe Newswire•12/11/2026•16:59 ET
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Key Highlights
- ➤Q3 revenue $23.1 million, down 0.8% year over year
- ➤Gross profit $13.0 million, up 161.7%, with margin reaching 56.2%
- ➤Adjusted EBITDA loss $0.2 million, improved from $4.1 million loss
- ➤Florida revenue rose 15.1% sequentially and 45% year over year
- ➤Vireo merger vote scheduled for December 10, 2026, after SEC effectiveness
Expert Statements
Larry Scheffler, Co-CEO of Planet 13
“Revenue increased for the second consecutive quarter, up 1.0% sequentially, led by a 15.1% quarter-over-quarter increase in Florida, where revenue was 45% higher than in the prior-year quarter. The levers we have been pulling in Florida are showing up in the numbers driven by better flower out of our upgraded cultivation, a fuller product lineup with BHO concentrates now on shelf, and a more productive store network. In Nevada, lower tourist traffic in Las Vegas continued to weigh on the Superstore and we are focused on local marketing event-driven promotions to bring customers through the door,”
Bob Groesbeck, Co-CEO of Planet 13
“We delivered a second consecutive quarter of revenue growth and Adjusted EBITDA improvement, and our focus remains on running the business well and executing a smooth path to closing for our stockholders, employees, patients and customers. With the Form S-4 declared effective on November 2, our stockholders will vote on the proposed merger with Vireo Growth at a special meeting on December 10, 2026. The rationale for the combination is unchanged: this market increasingly rewards scale, purchasing power, distribution and balance sheet strength, and the merger gives Planet 13 stockholders a stake in a larger, more efficient combined company that is better positioned to compete than we would be on our own”
* Q3 2026 Adjusted EBITDA loss of $0.2 million All figures are reported in United States dollars ($) unless otherwise indicated
LAS VEGAS, Nov. 12, 2026 (GLOBE NEWSWIRE) -- Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) (“Planet 13” or the “Company”), a leading vertically-integrated multi-state cannabis company, today announced its financial results for the three-month period ended September 30, 2026. Planet 13’s financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).
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