Retail: Planet 13 Triples Revenue in Q2 to $32.8 Million

New Cannabis Ventures goes through their latest press release.

Along with Cookies Planet 13 are the other retail outfit on the rise..

Planet 13 Announces Q2 2021 Financial Results
  • Q2 2021 Revenue of $32.8 million, up 205% compared to Q2, 2020
  • Q2 2021 Adjusted EBITDA[1] of $7.2 million

All figures are reported in United States dollars ($) unless otherwise indicated

LAS VEGAS, NV / ACCESSWIRE / August 26, 2021 / Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) (“Planet 13” or the “Company”), a leading vertically-integrated cannabis company, today announced its financial results for the three-month and six-month period ended June 30, 2021. Planet 13’s financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS”).

“Q2 was a strong quarter for Planet 13. With tourism back, the Superstore’s in-store experience is once again proving that it is on the list of must visit destinations for any trip to Vegas,” said Larry Scheffler, Co-CEO of Planet 13.

Every week thousands of people share their experience at the store with their friends on social media and the compounding impact of that organic marketing is obvious as even after being open for three years we are seeing strong growth and increasing share of the Nevada market every month.

Larry Scheffler, Co-CEO of Planet 13

Along with our dispensary operations, our product brands are continuing to gain traction. According to Headset data, HaHa was the number two edibles and number three beverage brand in the state and TRENDI was the number three concentrate and number six vape brand.

“Along with stellar performance from our Nevada operations, 2021 has been about securing our next growth opportunities,” commented Bob Groesbeck, Co-CEO of Planet 13

I’m proud to say we opened our Orange County location on time and on budget. We are now focused on growing consumer awareness that will ultimately drive the sales we know are possible from that location.

Bob Groesbeck, Co-CEO of Planet 13

Subsequent to the quarter, we also won a dispensary license for the Chicago area giving us a clear path for our next SuperStore. Supported by a robust M&A pipeline and over $130 million in cash, Planet 13’s future is bright.

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