Planet 13 Announces Q3 2018 Earnings Planet 13 Superstore opened on November 1st 2018. Already servicing an average of 1,300 customers a day, well on the way to meeting run-rate estimates Highly rated1 Medizin dispensary generated $4.9 million in revenue in Q3 2018 and $12.9 million in the first nine-months; monthly revenue is growing at a 6.0% compound rate2 Adjusted EBITDA of $275,568 in Q3 2018 and $1.5 million in the first nine-months 437 online deliveries in October 2018; monthly online revenue growing at a compound rate of 8.3%2 sequentially
All figures are reported in United States dollars ($) unless otherwise indicated
LAS VEGAS, NV, Nov. 12, 2018 /CNW/ – Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB:PLNHF)(“Planet 13” or the “Company”), a leading vertically-integrated Nevada cannabis company, today announced financial results for the three and nine-month periods ended September 30, 2018. Planet 13’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).
We opened Phase 1 of the 40,000 square foot Planet 13 Superstore on November 1st, and over the first ten days are already well on our way to meeting our expectations for run-rate daily traffic and average ticket on minimal marketing. Our thesis that a unique entertainment destination, proximity to the Las Vegas Strip, and a wide selection of Nevada’s best products would drive strong tourist traffic and spending has proven to be correct.
Larry Scheffler, Co-CEO of Planet 13
We believe that we are just at the beginning of the growth curve at the Superstore and expect to continue to ramp both traffic and average ticket as we execute on our marketing program in the coming weeks. MJBizCon is this week, and our management team is ready to showcase the Superstore for the thousands of cannabis connoisseurs and investors who are in town.
Bob Groesbeck, Co-CEO of Planet 13 added, “In Q3, our Medizin dispensary posted another quarter of sequential revenue growth with