Planet 13 Announces Full Year 2020 Financial Results and Q1 2021 Revenue Q1 2021 Revenue of $23.8 million, including $9.7 million in March 2020 Revenue of $70.5 million Planet 13 accounted for 8.2% of all Nevada cannabis dispensary revenue in Q4 2020 EBITDA of $8.9 million
All figures are reported in United States dollars ($) unless otherwise indicated
LAS VEGAS, NV / ACCESSWIRE / April 5, 2021 / Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) (“Planet 13” or the “Company”), a leading vertically-integrated Nevada cannabis company, today announced its financial results for the three-month and twelve-month period ended December 31, 2020. Planet 13’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
“Based on our performance in March 2021, it is clear that Las Vegas is back.” Said Larry Scheffler, Co-CEO of Planet 13.
We dwarfed our single month record with $9.7 million in revenue in March, and we believe that as more people get vaccinated and Las Vegas continues to open, revenue will continue to increase.
Larry Scheffler, Co-CEO of Planet 13
Looking back on 2020, we weathered the perfect storm of COVID-19 and the resulting 55% decrease in tourism and still increased revenue year over year, generating over $70 million while maintaining our share of the Nevada market.
“With the rapid turn-around we’ve seen in Q1 and especially in March, it is clear that the improvements we made over the last year will pay dividends as normalcy returns to Las Vegas,” commented Bob Groesbeck, Co-CEO of Planet 13.
With tourism back on track, the SuperStore is performing well. Furthermore, our local-focused offerings including Medizin, curbside and delivery, and wholesale are helping us take a greater share of that market.