Planet 13 Holdings Inc.
Planet 13 Holdings Inc. operates a multi-state cannabis business in the United States with licensed retail, cultivation, production, and distribution operations. Its portfolio includes large-format dispensaries, neighborhood stores, cultivation and processing facilities, and branded cannabis products sold through retail and wholesale channels.
Tilikausi 2025 · muutos edellisvuodesta
Kehitys 2021–2025
Liiketoiminta
Osuus liikevaihdostaAdult-use and medical cannabis stores, including superstores and neighborhood locations.
Branded and third-party product sales through wholesale distribution channels.
Indoor cultivation, processing, and production facilities supporting supply.
CBD and other in-store ancillary offerings tied to the retail experience.
Tuotteet
Raportoitu · osuus liikevaihdosta- Retail89,9 %
- Wholesale10,1 %
Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.
Asiakkaat
Planet 13 sells primarily to cannabis consumers in the states where it operates, including adult-use customers and medical patients. It also serves wholesale buyers such as third-party dispensaries that purchase branded products for resale. The company’s large-format stores are designed to attract destination shoppers, local repeat customers, and tourists seeking an experiential retail format.
Buy cannabis products at dispensaries and superstores for personal consumption and variety.
Purchase regulated medical products in Florida and other licensed medical channels.
Buy Planet 13 branded products for resale through third-party retail stores.
Visit experiential superstores, especially in Las Vegas, for large-format retail and brand experience.
Strategia
Planet 13 is focused on expanding its retail footprint, building branded product sales, and using its state licenses to deepen distribution in existing markets. The company is also investing in customer experience, product innovation, and production efficiency to compete in crowded cannabis markets. Florida buildout and Illinois wholesale expansion are important because they extend the company beyond a single flagship-store model.
Florida provides scale through a large medical dispensary network and related cultivation assets.
Branded products can improve shelf presence and create wholesale revenue beyond owned stores.
Large-format stores and loyalty tools help attract and retain customers in competitive markets.
Maantiede
Planet 13 operates licensed cannabis businesses in Nevada, California, Florida, and Illinois. Nevada and California house the company’s flagship superstores and cultivation assets, while Florida provides a large medical dispensary network and Illinois is an emerging retail and wholesale market. Geography matters because cannabis is regulated at the state level, so each market has its own licensing, retail mix, and competitive dynamics.
Riskit
Planet 13 faces intense competition from larger operators, new entrants, and illicit-market alternatives, which can pressure traffic and pricing. Its business is also exposed to state-by-state regulatory risk, cannabis licensing constraints, and federal tax rules such as Section 280E. Because the company is still investing in expansion, access to financing and execution of new store buildouts are important risks.
Operations depend on state licenses and cannabis rules that can change over time.
Larger and better financed competitors can offer more products and lower prices.
Kohdistuu: Retail and wholesale cannabis markets
Unlicensed cannabis and intoxicating hemp products can reduce legal-market sales.
Kohdistuu: All operating states
Federal tax rules limit deductions for cannabis businesses and affect reported taxes.
Kohdistuu: U.S. cannabis operations
Store buildouts and cultivation upgrades require capital and timely execution.
Kohdistuu: Florida expansion and broader growth plans
Kirjanpito
Harkinnanvaraiset erätCannabis businesses have limited deductions, which can materially affect tax expense and cash taxes.
Vaikutus: Reported tax expense and effective tax rate
Management must assess whether deferred tax assets are realizable based on future taxable income.
Vaikutus: Tax expense and balance sheet valuation allowance
Acquired operations change revenue and expense comparability across periods.
Vaikutus: Revenue trend analysis and asset valuation
Property sales and assets held for sale can create gains, losses, or remeasurement effects.
Vaikutus: Other income/expense and investing cash flow
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Päivitetty: 24.9.2026