Planet 13 Holdings Inc PLNHF PLTH a vertically-integrated cannabis company, on Monday announced third-quarter results with revenue of $16.7 million.
EBITDA was disclosed at $3.4 million, with a 24% growth over the previous quarter. The company stated its liquidity is at $18.1 million with the intention of investing it on growth initiatives. Gross Profit came in at $9.9 million.
"We are just at the beginning of the growth potential for this site and for Planet 13," co-CEO Larry Scheffler said in a press release. "With Phase II and wholesale operations just getting underway, we expect to continue generating profitable growth as we expand the sales of our well-regarded in-house, in-store produced brands both on-site and in 3rd party dispensaries state-wide commencing in the New Year.”
Planet 13 made several developments such as two new edible brands, the opening of a pizza store and a coffee store, the opening of a customer-facing facility and a new beverage brand.
Planet 13's stock traded down 17% to $1.45 per share at time of publication.
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