Planet 13 Holdings Inc. (OTC: PLNHF) will focus after the company announced its FY2020 and Q1 2021 financial results late Monday.
For Q1 2021, the company reported $23.8 million in revenue, including $9.7 million in March. Revenue for FY2020 was $70.5 million with an EBITDA of $8.9 million. The company topped its single-monthly record revenue, with $9.7 million in March, thanks to Las Vegas’s reopening and enhanced vaccination of people. Planet 13 CEO Bob Groesbeck said that the company saw a rapid turnaround in Q1 2021, and improvements made over the past year are paying dividends as normalcy returns.
Tourism is on track, and the Superstore is doing well with localized offerings including, curbside and delivery, Medizin and wholesale are helping the company take a greater share of the market. Besides Las Vegas, the Californian Orange County Superstore is also on track and on the budget for the anticipated opening in July. In March, the company announced a partnership with Curaleaf Select for a shop-in-shop opening.
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