Planet 13 Reports 20.3% Revenue Growth In Q2 2024, Expands Florida Operations
Portfolio Pulse from Rolando García
Planet 13 Holdings Inc. reported a 20.3% year-over-year revenue growth in Q2 2024, reaching $31.1 million. Despite the revenue increase, the company experienced a net loss of $8.1 million, up nearly 75% YoY. The growth was driven by the acquisition and consolidation of Florida operations, which also led to increased expenses.
August 09, 2024 | 2:22 am
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Planet 13 Holdings Inc. reported a 20.3% increase in revenue for Q2 2024, reaching $31.1 million. However, the net loss rose to $8.1 million, driven by increased expenses from the consolidation of Florida operations.
The revenue growth is a positive indicator, but the significant increase in net loss due to higher expenses from the Florida expansion creates a mixed outlook. Investors may view the revenue growth favorably but be cautious about the rising expenses and net loss.
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