Planet 13 Holdings, a multi-state cannabis company, reported first-quarter 2026 revenue of $21.1 million, down 24.8% year-over-year, as it announced financial results for the three months ended 31 March. The company posted a net loss of $8.1 million and an adjusted EBITDA loss of $2.3 million. The revenue decline was driven by the company's exit from California retail and wholesale operations and continued price compression in Nevada and Florida. However, gross profit margin improved to 44.6% from 42.8%, whilst total expenses decreased 19% to $15.1 million due to cost-cutting initiatives. Co-CEO Larry Scheffler described the quarter as transitional, following strategic restructuring including the California exit and Nevada consolidation. Co-CEO Bob Groesbeck highlighted favourable federal developments, including medical rescheduling rules effective April 2026.

Planet 13 Holdings, a vertically-integrated multi-state cannabis company, has appointed Nancy Saitta and Leilani Bradford as independent directors to two newly created board seats, effective 24 April 2026. Justice Saitta brings two decades of judicial experience, including serving as Chief Justice of the Nevada Supreme Court from 2011 to 2012. She was a Justice of the Nevada Supreme Court from 2007 to 2016 and previously served on lower Nevada courts. Since 2017, she has worked as a mediator and arbitrator with Advanced Resolution Management. Bradford brings over 20 years of real estate finance and transaction structuring experience in Las Vegas. Both directors will serve on the Audit Committee, Compensation Committee and Corporate Governance and Nominating Committee, expanding independent representation on the board.

Planet 13 Holdings, a vertically integrated cannabis company, reported fourth-quarter 2025 revenue of $25.2 million, down 16.7% year-over-year, with a net loss of $4.6 million and an adjusted EBITDA loss of $0.3 million. For the full year 2025, revenue fell 11.2% to $103.4 million, with a net loss of $63.9 million, including $29.8 million in non-cash impairment charges. The company attributed declines to challenging tourist conditions in Las Vegas and increased competition in Florida. Co-CEO Larry Scheffler noted revenue stabilised during the quarter, whilst Bob Groesbeck highlighted the California exit and improved federal regulatory posture as positive factors. The company aims to reach positive cash flow in 2026.