Planet 13 Announces Q3 2021 Financial Results Q3 2021 Revenue of $33.0 million, up 45% compared to Q3, 2020 Q3 2021 Adjusted EBITDA¹ of $3.5 million
All figures are reported in United States dollars ($) unless otherwise indicated
LAS VEGAS, NV / ACCESSWIRE / November 23, 2021 / Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) (“Planet 13” or the “Company”), a leading vertically-integrated cannabis company, today announced its financial results for the three-month and nine-month period ended September 30, 2021. Planet 13’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
We continued to drive strong performance during the quarter from our core Las Vegas operations. Along with our dispensary operations, our product brands are performing well with Trendi vapes seeing 110% dollar sales growth year over year according to Headset. It now makes up about ~5% of Vape sales and 7% of Concentrate sales and HaHa edibles was ~14% of edibles sales in the State.
Larry Scheffler, Co-CEO of Planet 13
“Along with stellar performance from our Nevada operations, this was a massive quarter towards securing the future growth of Planet 13. We opened our California store, and while initial sales growth has been slower due to headwinds from COVID and untimely road construction around the SuperStore, customer reviews have been outstanding. We expect growth as those headwinds abate,” commented Bob Groesbeck, Co-CEO of Planet 13.
We also won a dispensary license for the Chicago area giving us a clear path for our next SuperStore, and acquired a Florida license that will allow us to vertically integrate and open multiple neighborhood and SuperStores in the state.
Bob Groesbeck, Co-CEO of Planet 13
Financial Highlights – Q3 – 2021