Planet 13 Reports Unaudited, Preliminary Fourth Quarter and Full Year 2023 Financial Results and Date for Full Earnings Release
Planet 13 Reports Unaudited, Preliminary Fourth Quarter and Full Year 2023 Financial Results and Date for Full Earnings Release
Date: March 13, 2024, | Time: 6:00 p.m. ETLAS VEGAS, NV / ACCESSWIRE / February 27, 2024 / Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNH) ("Planet 13" or the "Company"), a leading vertically-integrated multi-state cannabis company, today announced its unaudited preliminary financial results for the fourth quarter and full year ended December 31, 2023. All financial information is provided in U.S. dollars unless otherwise indicated and is prepared under U.S. Generally Accepted Accounting Principles ("GAAP").
内华达州拉斯维加斯/ACCESSWIRE/2024年2月27日/领先的垂直整合多州大麻公司Planet 13 Holdings Inc.（CSE: PLTH）（OTCQX: PLNH）（“Planet 13” 或 “公司”）今天公布了截至2023年12月31日的第四季度和全年未经审计的初步财务业绩。除非另有说明，所有财务信息均以美元提供，并且是根据美国公认会计原则（“GAAP”）编制的。
The Company will host a conference call on March 13, 2024, at 6:00 p.m. ET to discuss its fourth-quarter and year end financial results and provide investors with key business highlights, strategy, and outlook. The call will be chaired by Bob Groesbeck, Co-CEO, Larry Scheffler, Co-CEO, and Dennis Logan, CFO.
该公司将于美国东部时间2024年3月13日下午 6:00 举行电话会议，讨论其第四季度和年终财务业绩，并向投资者提供关键业务亮点、战略和前景。电话会议将由联席首席执行官鲍勃·格罗斯贝克、联席首席执行官拉里·舍弗勒和首席财务官丹尼斯·洛根主持。
CONFERENCE CALL DETAILS
电话会议详情
Date: March 13, 2024, | Time: 6:00 p.m. ET
Participant Dial-in: Toll Free: 888-506-0062 or International: 973-528-0011. Access Code: 815562
Replay Dial-in: Toll Free: 877-481-4010 or International: 919-882-2331. Replay Passcode: 50013
Listen to webcast: Link
日期：2024 年 3 月 13 日，| 时间：美国东部时间下午 6:00
参与者拨号：免费电话：888-506-0062 或国际电话：973-528-0011。接入码：815562
重播拨入：免费电话：877-481-4010 或国际电话：919-882-2331。重播密码：50013
收听网络直播：链接
"Given the turbulence of the last few months, the challenging macroeconomic backdrop, and the continued cannabis price compression we are seeing, I am pleased to report a solid quarter. We generated solid revenue performance and positive Adjusted EBITDA, driven by gross margin expansion and strong cost controls. We continue to hold ~9% of Nevada's retail market share and top five brands in every category, demonstrating the strength of our Nevada operations and brand value," said Larry Scheffler, Co-CEO of Planet 13. "In spite of recent events, Planet 13 is generating positive Adjusted EBITDA and continues to have a strong balance sheet with over $17 million in cash and effectively no debt. We are well capitalized to continue executing our announced growth plan in Florida and Nevada."
“鉴于过去几个月的动荡、充满挑战的宏观经济背景以及我们所看到的大麻价格持续压缩，我很高兴地报告一个稳健的季度业绩。在毛利率扩张和强有力的成本控制的推动下，我们创造了稳健的收入表现和正的调整后息税折旧摊销前利润。Planet 13联席首席执行官拉里·舍弗勒说，我们继续占内华达州约9％的零售市场份额，在每个类别中均排名前五的品牌，这表明了我们在内华达州的业务和品牌价值的实力。“尽管最近发生了一些事件，但Planet 13的调整后息税折旧摊销前利润仍为正数，资产负债表继续保持强劲，现金超过1700万美元，实际上没有债务。我们有充足的资金继续在佛罗里达州和内华达州执行我们宣布的增长计划。”
"Towards the end of the quarter, we opened our new Illinois location and are working towards closing our acquisition of VidaCann and opening our consumption lounge at the Las Vegas SuperStore. These exciting additions are set to drive Planet 13's next leg of growth," said Bob Groesbeck, Co-CEO of Planet 13. "We've built an attractive portfolio of operations in highly sought-after states. As we look to 2024, our goal is to prepare for the exciting potential of adult use in Florida and increase our scale, efficiency and operating leverage in core states to drive growth in operating cashflow and shareholder value."
“在本季度末，我们在伊利诺伊州开设了新的分店，并正在努力完成对VidaCann的收购，并在拉斯维加斯超级商店开设消费休息室。这些令人兴奋的新增将推动13号星球的下一轮增长。” Planet 13联席首席执行官鲍勃·格罗斯贝克说。“我们在备受追捧的州建立了有吸引力的业务组合。展望2024年，我们的目标是为佛罗里达州成人使用的激动潜力做好准备，并提高我们在核心州的规模、效率和运营杠杆率，以推动运营现金流和股东价值的增长。”
Preliminary Unaudited Financial Highlights - Q4 2023
未经审计的初步财务摘要-2023 年第四季度
(Figures in millions |
For the Three Months Ended | For the Full Year Ended | ||||||||||||||||||||||
and % change based |
December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
on these figures) |
2023 | 2022 | change | 2023 | 2022 | change | ||||||||||||||||||
Total Revenue |
$ | 23.0 | $ | 24.8 | -7.5% | $ | 98.5 | $ | 104.6 | -5.8% | ||||||||||||||
Gross Profit |
$ | 11.0 | $ | 10.7 | 2.8% | $ | 44.8 | $ | 48.0 | -6.6% | ||||||||||||||
Gross Profit % |
47.8% | 43.0% | 11.2% | 46% | 46% | -0.8% | ||||||||||||||||||
Operating Expenses |
$ | 18.1 | $ | 45.9 | -60.5% | $ | 94.8 | $ | 80.9 | 17.1% | ||||||||||||||
Operating Expenses % |
79% | 185% | 96% | 77% | 24.3% | |||||||||||||||||||
Net Loss Before Provision for Income Taxes |
$ | (10.3) | $ | (37.7) | nmf | $ | (62.1) | $ | (50.8) | 22.2% | ||||||||||||||
Net Loss |
$ | (14.3) | $ | (38.6) | nmf | $ | (73.6) | $ | (59.5) | 23.6% | ||||||||||||||
Adjusted EBITDA |
$ | 1.3 | $ | (0.6) | nmf | $ | 1.9 | $ | (7.5) | nmf | ||||||||||||||
Adjusted EBITDA Margin % |
5.6% | -3.2% | 1.9% | (7.2)% | ||||||||||||||||||||
（以百万为单位的数字 |
在已结束的三个月中 | 在结束的全年中 | ||||||||||||||||||||||
以百分比变化为基准 |
十二月三十一日 | 十二月三十一日 | 十二月三十一日 | 十二月三十一日 | ||||||||||||||||||||
根据这些数字） |
2023 | 2022 | 改变 | 2023 | 2022 | 改变 | ||||||||||||||||||
总收入 |
$ | 23.0 | $ | 24.8 | -7.5% | $ | 98.5 | $ | 104.6 | -5.8% | ||||||||||||||
毛利 |
$ | 11.0 | $ | 10.7 | 2.8% | $ | 44.8 | $ | 48.0 | -6.6% | ||||||||||||||
毛利％ |
47.8% | 43.0% | 11.2% | 46% | 46% | -0.8% | ||||||||||||||||||
运营费用 |
$ | 18.1 | $ | 45.9 | -60.5% | $ | 94.8 | $ | 80.9 | 17.1% | ||||||||||||||
运营费用百分比 |
79% | 185% | 96% | 77% | 24.3% | |||||||||||||||||||
所得税准备金前的净亏损 |
$ | (10.3) | $ | (37.7) | nmf | $ | (62.1) | $ | (50.8) | 22.2% | ||||||||||||||
净亏损 |
$ | (14.3) | $ | (38.6) | nmf | $ | (73.6) | $ | (59.5) | 23.6% | ||||||||||||||
调整后 EBITDA |
$ | 1.3 | $ | (0.6) | nmf | $ | 1.9 | $ | (7.5) | nmf | ||||||||||||||
调整后的息税折旧摊销前利润率% |
5.6% | -3.2% | 1.9% | (7.2)% | ||||||||||||||||||||
(Figures in millions) |
As of December 31, 2023 | |||
Cash |
$ | 11.9 | ||
Restricted cash |
$ | 5.5 | ||
Total cash |
$ | 17.4 | ||
Total Assets |
$ | 151.7 | ||
Total debt |
$ | 0.9 | ||
Total Liabilities (includes Debt, Accounts Payable and Accrued Expenses, Income Tax Payable and ROU Lease Liabilities) |
$ | 44.1 | ||
（以百万为单位的数字） |
截至 2023 年 12 月 31 日 | |||
现金 |
$ | 11.9 | ||
限制性现金 |
$ | 5.5 | ||
现金总额 |
$ | 17.4 | ||
总资产 |
$ | 151.7 | ||
债务总额 |
$ | 0.9 | ||
总负债（包括债务、应付账款和应计费用、应付所得税和ROU租赁负债） |
$ | 44.1 | ||
Non-GAAP Financial Measures
非公认会计准则财务指标
There are financial measures included in this press release that are not in accordance with GAAP and therefore may not be comparable to similarly titled measures and metrics presented by other publicly traded companies. These non-GAAP financial measures should be considered as supplemental to, and not a substitute for, our reported financial results prepared in accordance with GAAP. The Company includes EBITDA and Adjusted EBITDA because it believes certain investors use these measures and metrics as a means of assessing financial performance. EBITDA is calculated as net income (loss) before interest, taxes, depreciation and amortization and Adjusted EBITDA is calculated as EBITDA before share-based compensation, the change in fair value of warrants and one-time non-recurring expenses.
本新闻稿中包含的某些财务指标不符合公认会计原则，因此可能无法与其他上市公司提供的类似标题的指标和指标进行比较。这些非公认会计准则财务指标应被视为我们根据公认会计原则编制的财务业绩的补充，而不是替代这些业绩。该公司之所以包括息税折旧摊销前利润和调整后的息税折旧摊销前利润，是因为它认为某些投资者使用这些指标和指标作为评估财务表现的手段。息税折旧摊销前利润按扣除利息、税项、折旧和摊销前的净收益（亏损）计算，调整后的息税折旧摊销前利润计算为扣除股份薪酬、认股权证公允价值变动和一次性非经常性支出前的息税折旧摊销前利润。
The following table presents a reconciliation of net income (loss) to Adjusted EBITDA for each of the periods presented:
下表显示了所列每个时期的净收益（亏损）与调整后息税折旧摊销前利润的对账：
Reconciliation of Non-GAAP Adjusted EBITDA
非公认会计准则调整后息税折旧摊销前利润的对账
(Figures in millions |
For the Three Months Ended | For the Full Year Ended | ||||||||||||||||||||||
and % change based |
December 31, | December 31, | December 31, | December 31, | ||||||||||||||||||||
on these figures) |
2023 | 2022 | change | 2023 | 2022 | change | ||||||||||||||||||
Net Loss |
$ | (14.3) | $ | (38.6) | nmf | $ | (73.6) | $ | (59.5) | 23.6% | ||||||||||||||
Add impact of: |
||||||||||||||||||||||||
Interest expense |
$ | (0.1) | $ | 0.3 | -143.6% | $ | (0.2) | $ | (0.2) | 3.3% | ||||||||||||||
Provision for income taxes |
$ | 4.0 | $ | 0.9 | 341.4% | $ | 11.5 | $ | 8.8 | 31.8% | ||||||||||||||
Depreciation and amortization |
$ | 2.0 | $ | 2.4 | -17.0% | $ | 8.2 | $ | 8.3 | -1.9% | ||||||||||||||
Depreciation included in cost of goods sold |
$ | 1.0 | $ | 1.1 | -11.9% | $ | 3.3 | $ | 1.9 | 71.3% | ||||||||||||||
EBITDA |
$ | (7.5) | $ | (34.0) | nmf | $ | (50.8) | $ | (40.7) | nmf | ||||||||||||||
Impairment of goodwill and other intangibles |
$ | 7.2 | $ | 32.8 | -78.1% | $ | 46.8 | $ | 32.8 | 42.8% | ||||||||||||||
Gain on sale-leaseback |
$ | - | $ | (0.5) | nmf | $ | - | $ | (0.5) | nmf | ||||||||||||||
Change in fair value of warrants |
$ | - | $ | (0.4) | nmf | $ | (0.0) | $ | (7.2) | nmf | ||||||||||||||
Professional fees expensed related to M&A activities |
$ | 0.2 | $ | 0.2 | -7.6% | $ | 2.6 | $ | 0.7 | 296.8% | ||||||||||||||
Professional fees expensed related to SEC Domestic Issuer Form 10 filing and U.S Domestication from British Columbia to Nevada |
$ | - | $ | - | 0.0% | $ | 0.3 | $ | - | 0.0% | ||||||||||||||
Share-based compensation and related premiums |
$ | 1.3 | $ | 1.3 | 1.7% | $ | 3.0 | $ | 7.5 | -60.0% | ||||||||||||||
Adjusted EBITDA |
$ | 1.3 | $ | (0.6) | nmf | $ | 1.9 | $ | (7.5) | nmf | ||||||||||||||
（以百万为单位的数字 |
在已结束的三个月中 | 在结束的全年中 | ||||||||||||||||||||||
以百分比变化为基准 |
十二月三十一日 | 十二月三十一日 | 十二月三十一日 | 十二月三十一日 | ||||||||||||||||||||
根据这些数字） |
2023 | 2022 | 改变 | 2023 | 2022 | 改变 | ||||||||||||||||||
净亏损 |
$ | (14.3) | $ | (38.6) | nmf | $ | (73.6) | $ | (59.5) | 23.6% | ||||||||||||||
增加以下方面的影响： |
||||||||||||||||||||||||
利息支出 |
$ | (0.1) | $ | 0.3 | -143.6% | $ | (0.2) | $ | (0.2) | 3.3% | ||||||||||||||
所得税准备金 |
$ | 4.0 | $ | 0.9 | 341.4% | $ | 11.5 | $ | 8.8 | 31.8% | ||||||||||||||
折旧和摊销 |
$ | 2.0 | $ | 2.4 | -17.0% | $ | 8.2 | $ | 8.3 | -1.9% | ||||||||||||||
折旧包含在销售商品的成本中 |
$ | 1.0 | $ | 1.1 | -11.9% | $ | 3.3 | $ | 1.9 | 71.3% | ||||||||||||||
EBITDA |
$ | (7.5) | $ | (34.0) | nmf | $ | (50.8) | $ | (40.7) | nmf | ||||||||||||||
商誉和其他无形资产的减值 |
$ | 7.2 | $ | 32.8 | -78.1% | $ | 46.8 | $ | 32.8 | 42.8% | ||||||||||||||
售后回租的收益 |
$ | - | $ | (0.5) | nmf | $ | - | $ | (0.5) | nmf | ||||||||||||||
认股权证公允价值的变化 |
$ | - | $ | (0.4) | nmf | $ | (0.0) | $ | (7.2) | nmf | ||||||||||||||
与并购活动相关的专业费用 |
$ | 0.2 | $ | 0.2 | -7.6% | $ | 2.6 | $ | 0.7 | 296.8% | ||||||||||||||
与美国证券交易委员会国内发行人表格10申报以及从不列颠哥伦比亚省到内华达州的美国国内化相关的专业费用 |
$ | - | $ | - | 0.0% | $ | 0.3 | $ | - | 0.0% | ||||||||||||||
基于股份的薪酬和相关溢价 |
$ | 1.3 | $ | 1.3 | 1.7% | $ | 3.0 | $ | 7.5 | -60.0% | ||||||||||||||
调整后 EBITDA |
$ | 1.3 | $ | (0.6) | nmf | $ | 1.9 | $ | (7.5) | nmf | ||||||||||||||
Note to Reader
读者注意事项
These preliminary, unaudited selected financial results and disclosures contained in this press release are preliminary, based on information available to management as of the date of this press release, remain subject to the completion of normal quarter and year end accounting procedures and adjustments, and are subject to change. Planet 13's independent registered public accounting firm has not completed its review and audit of the results for the quarter and year ended December 31, 2023. Planet 13 undertakes no obligation to update the information in this press release in the event facts or circumstances change after the date of this press release. Planet 13 plans to release its complete financial results for the fourth quarter and full year 2023 on March 13, 2024. A conference call to discuss the results will follow on March 13, 2024 at 6:00 pm EST.
根据截至本新闻稿发布之日管理层获得的信息，本新闻稿中包含的这些未经审计的初步财务业绩和披露是初步的，仍有待正常的季度和年终会计程序和调整的完成，并可能发生变化。Planet 13的独立注册会计师事务所尚未完成对截至2023年12月31日的季度和年度业绩的审查和审计。在本新闻稿发布之日之后，如果事实或情况发生变化，Planet 13没有义务更新本新闻稿中的信息。Planet 13计划于2024年3月13日发布其第四季度和2023年全年的完整财务业绩。随后将在美国东部标准时间2024年3月13日下午6点举行电话会议，讨论结果。
About Planet 13
关于《13号星球》
Planet 13 ( is a vertically integrated cannabis company, with award-winning cultivation, production and dispensary operations across its locations in California, Nevada, Illinois, and upcoming sites in Florida. Home to the nation's largest dispensary located just off The Strip in Las Vegas, Planet 13 recently opened its first Illinois dispensary in Waukegan, bringing unparalleled cannabis experiences to the Chicago metro area. Planet 13 holds a medical marijuana treatment center license in Florida allowing for state-wide expansion throughout the Sunshine State. Planet 13's mission is to build a recognizable global brand known for world-class dispensary operations and innovative cannabis products. Licensed cannabis activity is legal in the states Planet 13 operates in but remains illegal under U.S. federal law. Planet 13's shares trade on the Canadian Securities Exchange (CSE) under the symbol PLTH and are quoted on the OTCQX under the symbol PLNH.
Planet 13（是一家垂直整合的大麻公司，在加利福尼亚州、内华达州、伊利诺伊州以及即将建成的佛罗里达州基地均拥有屡获殊荣的种植、生产和药房业务。Planet 13是美国最大的药房，位于拉斯维加斯大道附近，最近在沃基根开设了第一家伊利诺伊州药房，为芝加哥都会区带来无与伦比的大麻体验。Planet 13持有佛罗里达州的医用大麻治疗中心许可证，允许在整个阳光州进行全州扩张。Planet 13的使命是建立一个知名的全球品牌，该品牌以世界一流的药房运营和创新的大麻产品而闻名。在Planet 13运营的州，获得许可的大麻活动是合法的，但根据美国联邦法律仍然是非法的。Planet 13的股票在加拿大证券交易所（CSE）上市，股票代码为PLTH，并在OTCQX上市，股票代码为PLNH。
Cautionary Note Regarding Forward-Looking Information
关于前瞻性信息的警示说明
This news release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are often, but not always, identified by phrases such "plans", "expects", "proposed", "may", "could", "would", "intends", "anticipates", or "believes", or variations of such words and phrases. In this news release, forward-looking statements relate to the Company's fourth quarter 2023 financial performance and expectations for future financial performance. Such forward-looking statements reflect what management of the Company believes, or believed at the time, to be reasonable assumptions and accordingly readers are cautioned not to place undue reliance upon such forward-looking statements and that actual results may vary from such forward-looking statements. These assumptions, risks and uncertainties which may cause actual results to differ include, among others, those assumptions, risks and uncertainties discussed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K/A for the year ended December 31, 2022 and any of the Company's subsequent periodic reports filed with the U.S. Securities and Exchange Commission at www.sec.gov and on SEDAR+ at . Forward-looking statements contained herein are made only as to the date of this press release and we assume no obligation to update or revise any forward-looking statements should they change, except as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
本新闻稿包含适用证券法所指的前瞻性信息和前瞻性陈述。除历史事实陈述外，所有陈述均为前瞻性陈述，通常（但并非总是如此）用诸如此类的短语来标识 “计划“， “期待“， “提出的“， “可能“， “可以“， “会“， “打算“， “预期“，或 “相信“，或此类单词和短语的变体。在本新闻稿中，前瞻性陈述与公司有关'2023年第四季度的财务业绩和对未来财务业绩的预期。此类前瞻性陈述反映了公司管理层认为或当时认为的合理假设，因此提醒读者不要过分依赖此类前瞻性陈述，实际业绩可能与此类前瞻性陈述有所不同。这些可能导致实际结果不同的假设、风险和不确定性包括本标题下讨论的那些假设、风险和不确定性 “风险因素“ 在公司里's 截至2022年12月31日止年度的10-K/A表年度报告以及公司任何一部分'随后在www.sec.gov和SEDAR+上向美国证券交易委员会提交了定期报告，网址为 。此处包含的前瞻性陈述仅在本新闻稿发布之日作出，除非法律要求，否则如果任何前瞻性陈述发生变化，我们没有义务对其进行更新或修改。证券交易所、证券委员会或其他监管机构均未批准或不批准此处包含的信息。
For further inquiries, please contact:
如需进一步查询，请联系：
LodeRock Advisors Inc., Planet 13 Investor Relations
mark.kuindersma@loderockadvisors.com
LodeRock Advisors Inc.，Planet 13
mark.kuindersma@loderockadvisors.com
Robert Groesbeck or Larry Scheffler
Co-Chief Executive Officers
ir@planet13lasvegas.com
罗伯特·格罗斯贝克或拉里·舍弗勒
联席首席执行官
ir@planet13lasvegas.com
SOURCE: Planet 13 Holdings
来源：Planet 13 控股公司