29 March: Planet 13 Announces Q4 and Full Year 2021 Financial Results

29 March: Planet 13 Announces Q4 and Full Year 2021 Financial Results
CANNANNEW REPORT

Planet 13 Announces Q4 and Full Year 2021 Financial Results Q4 2021 revenue of $29.9 million, up 48% compared to Q4 2020 Q4 2021 net loss of $5.1 million, compared to net loss of $18.2 million in Q4 2020 Q4 2021 Adjusted EBITDA [1] of $1.9 million Full year 2021 revenue of $119.5 million, up 70% compared to full year 2020 Full year 2021 net loss of $19.5 million, compared to net loss of $25.0 million in full year 2020 Full year 2021 Adjusted EBITDA of $16.9 million All results are reported in United States dollars ($) unless otherwise indicated. LAS VEGAS, NV / ACCESSWIRE / March 28, 2022 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF) (“ Planet 13 ” or the “ Company “), a leading vertically-integrated cannabis company, today announced its financial results for the three-month and twelve-month period ended December 31, 2021. On February 11, 2022, Planet 13’s registration statement on Form 10 filed with the U.S. Securities and Exchange Commission became effective and Planet 13 became a U.S. reporting company on such date. As such, Planet 13’s financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). “During a quarter that is seasonally slower and marked by significantly less tourist traffic, Planet 13 was able to maintain a market share above 10% in the Las Vegas cannabis market. In addition to the competitive performance demonstrated by our SuperStore and neighborhood store, our brands grew 21% in a market that was down 5% in Q4[2],” said Larry Scheffler, Co-CEO of Planet 13. “Similarly, while the California market was down sequentially in Q4 [3] , our Orange County store grew 7.2% in the quarter on the back of increased brand awareness.” “Over the last couple months, the Planet 13 team has been working hard to operationalize all of the exciting new assets we’ve…

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Source : 29 March: Planet 13 Announces Q4 and Full Year 2021 Financial Results

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