Planet 13's Q2 2023 Results: Co-CEOs Highlight Strategic Growth, Margins, EBITDA
Portfolio Pulse from Nicolás Jose Rodriguez
Planet 13 Holdings Inc. (OTC:PLNHF) reported Q2 2023 financial results, showing a 9.1% revenue decrease to $25.8 million due to lowered cannabis prices in Nevada. However, the company reported improved gross and EBITDA margins, and reduced total expenses by 1.6% to $15.4 million. The net loss expanded to $4.3 million due to potential M&A-associated costs. The company's co-CEOs highlighted strategic growth and margin improvements, and the outlook for 2024 appears promising with $40.5 million in cash and strategic projects.
August 09, 2023 | 10:58 pm
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Planet 13 Holdings reported a decrease in revenue but improved margins and reduced expenses. The net loss expanded due to potential M&A costs. The outlook for 2024 appears promising.
Despite the decrease in revenue, the company's improved margins and reduced expenses indicate a potential for profitability. The expanded net loss due to potential M&A costs could be a concern for investors, but the promising outlook for 2024 could offset this.
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