Planet 13 Slashes Costs 66%: Revenue Grows, Losses Shrink — Is This The Turning Point?
Planet 13 Slashes Costs 66%: Revenue Grows, Losses Shrink — Is This The Turning Point?
Operating expenses dropped sharply by 66.4%, thanks to reduced impairment losses, signaling better cost management.Planet 13 Holdings Inc. (OTC:PLNH) reported Friday afternoon a strong revenue increase of 29.7% year-over-year for Q3 2024, reaching $32.2 million. The growth was fueled by the expansion into the Florida market and solid performance at its Illinois store.
Planet 13 Holdings Inc.（OTC:PLNH）週五下午報告，2024年第三季度營收同比增長29.7%，達到3220萬美元。這一增長得益於在佛羅里達市場的擴張以及其伊利諾伊州商店的良好表現。
Despite the revenue boost, the company posted a net loss of $7.4 million; still a significant improvement from the $46.3 million net loss in Q3 2023.
儘管營收增長，該公司報告的淨虧損爲740萬美元；但仍然顯著改善自去年第三季度4630萬美元的淨虧損。
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Improved Margins
改善的毛利潤
The company's gross profit rose to $16.7 million, up from $11.1 million in the same quarter last year. Gross margins also improved, reaching 51.9%, compared to 44.7% previously. Planet 13 attributed the margin growth to enhanced yields from cultivation and higher margin sales in Florida.
公司的毛利潤從去年同期的1110萬美元上升至1670萬美元。毛利率也有所提高，達到51.9%，而之前爲44.7%。Planet 13將邊緣增長歸因於種植業的高產以及佛羅里達州較高利潤銷售。
Operating expenses dropped sharply by 66.4%, thanks to reduced impairment losses, signaling better cost management.
由於減少減值損失，營業費用急劇下降66.4%，表明更佳的成本管理。
Read Also: Kentucky Gov. Beshear: 'The Jury Is No Longer Out,' Kentuckians Want Medical Cannabis
閱讀更多：肯塔基州州長貝什爾：'陪審團不再有異議'，肯塔基人想要醫療大麻
Adjusted EBITDA And Future Outlook
調整後EBITDA和未來展望
Planet 13 reported an adjusted EBITDA of $1.3 million, a substantial increase from $0.2 million in Q3 2023, highlighting improved operating leverage.
Planet 13報告調整後的EBITDA爲130萬美元，相比2023年第三季度的20萬美元大幅增長，凸顯了改善的營業槓桿。
In spite of consumer spending challenges, co-CEO Bob Groesbeck pointed out the strategic focus on cash flow and scaling its footprint.
儘管面臨消費者支出挑戰，聯席首席執行官鮑勃·格羅斯貝克指出公司戰略聚焦於現金流和擴大業務版圖。
"Despite Florida not moving forward with adult-use [cannabis legalization], we see a significant growth runway by expanding our store footprint and enhancing cultivation assets in the state. In addition to our Florida operations, we're focused on driving growth by scaling our neighborhood store network and broadening the distribution of our HaHa edibles," said Larry Scheffler, co-CEO of Planet 13.
「儘管佛羅里達州未能推進成人使用【大麻合法化】，但通過擴大我們在該州的門店版圖和加強栽培資產，我們看到了巨大的增長空間。除了佛羅里達的業務，我們專注於通過擴大我們的社區門店網絡和拓展我們HaHa edibles的分銷渠道來推動增長，」Planet 13的聯席首席執行官拉里·謝夫勒表示。
With $27.4 million in cash, up from $11.8 million at the end of 2023, Planet 13 is positioning itself for future growth. The company's expansion in Florida and recent acquisitions signal a commitment to broadening its market presence as it aims for profitability in 2025.
憑藉2740萬美元現金，Planet 13在2023年年底的1180萬美元基礎上實現增長，爲未來發展定位。公司在佛羅里達的擴張和最近的收購表明其致力於拓展市場份額，併力爭在2025年實現盈利。
譯文內容由第三人軟體翻譯。
