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Planet 13 Holdings ( (TSE:PLTH) ) has provided an update.
Planet 13 reported fourth-quarter 2025 revenue of $25.2 million, down 16.7% year over year, with a net loss narrowing to $4.6 million as operating expenses declined and gross margin improved slightly. For the full year, revenue fell 11.2% to $103.4 million, gross profit and margins contracted sharply amid competition and pricing pressure, and the company posted a larger net loss of $63.9 million, including significant non-cash impairments.
Management highlighted Q4 as the beginning of an operational turnaround, citing stabilized revenue in a seasonally soft period, renewed wholesale momentum in Nevada, and a more focused asset base following its exit from California. Planet 13 is expanding its presence in Florida with new dispensaries and a BHO lab to better compete in that market, while prioritizing cost control and a path to cash-flow positivity in 2026 amid a potentially improving U.S. regulatory backdrop for cannabis rescheduling.
The most recent analyst rating on (TSE:PLTH) stock is a Sell with a C$0.22 price target. To see the full list of analyst forecasts on Planet 13 Holdings stock, see the TSE:PLTH Stock Forecast page.
Spark’s Take on PLTH Stock
According to Spark, TipRanks’ AI Analyst, PLTH is a Neutral.
The score is held down primarily by weak financial performance (declining revenue, ongoing losses, pressured cash flow, and rising leverage) and bearish technicals (below key moving averages with negative MACD). Valuation is difficult to support due to losses (negative P/E). The latest earnings call adds a modest offset from early operational improvements and cost actions, but profitability remains a key risk.
To see Spark’s full report on PLTH stock, click here.
More about Planet 13 Holdings
Planet 13 Holdings Inc. is a vertically integrated cannabis company based in Las Vegas, Nevada, operating dispensaries and production facilities with a focus on key tourist and medical markets such as Nevada and Florida. The company targets both local consumers and destination traffic, while streamlining its portfolio by exiting less profitable jurisdictions such as California to concentrate on higher-potential regions.
Average Trading Volume: 72,247
Technical Sentiment Signal: Sell
Current Market Cap: C$69.95M
For an in-depth examination of PLTH stock, go to TipRanks’ Overview page.