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planet 13 ) HOLDINGS INC . Planet 13 Announces Q2 2026 Financial Results • Q2 2026 Revenue of $ 22.9 million • Q2 2026 Net loss of $ 5.6 million • Q2 2026 Adjusted EBITDA loss of $ 0.5 million All figures are reported in United States dollars ( $ ) unless otherwise indicated Las Vegas , Nevada August 12 , 2026 - Planet 13 Holdings Inc. ( CSE : PLTH ) ( OTCQX : PLNH ) ( " Planet 13 " or the “ Company ” ) , a leading vertically - integrated multi - state cannabis company , today announced its financial results for the three - month period ended June 30 , 2026. Planet 13's financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles ( " GAAP " ) . " Q2 delivered on the expectations we set last quarter . Revenue grew 8.4 % sequentially and gross margin improved as our cost actions and California exit took effect . Florida revenue increased 17.1 % quarter over quarter , demonstrating our progress to stabilize and strengthen the business in that state , ” said Larry Scheffler , Co - CEO of Planet 13 . " These results reflect the strength of the platform our team built , but they also reflect the reality , that the market increasingly rewards scale , greater purchasing power , broader distribution and the balance sheet to absorb continued price compression . As previously announced , our definitive merger agreement with Vireo Growth gives Planet 13 stockholders a stake in a larger , more efficient combined company . Our focus remains on running the business well and executing a smooth path to closing for our shareholders , employees , patients and customers , " said Bob Groesbeck , Co - CEO of Planet 13 . Financial Highlights - Q2 - 2026 Operating Results All comparisons below are to the quarter ended June 30 , 2025 , unless otherwise noted · Revenue was $ 22.9 million as compared to $ 26.9 million , a decrease of 14.9 % . The decrease in sales was driven by the exit of California retail and wholesale and continued price compression in Nevada and Florida . Gross profit was $ 12.3 million or 53.9 % as compared to $ 11.7 million or 43.4 % . The higher gross margin was driven by exiting California , company - wide cost and procurement initiatives , and a $ 1.0 million reduction in the Company's inventory reserve for Florida distillate as increased Florida sales reduced excess inventory on hand . Excluding the reserve adjustment , gross margin was 49.5 % . Total expenses were $ 15.2 million as compared to $ 18.5 million , a decrease of 17.7 % . Total expenses were down , driven by company - wide cost - cutting initiatives . • Net loss of $ 5.6 million as compared to a net loss of $ 13.3 million . • Adjusted EBITDA loss of $ 0.5 million as compared to Adjusted EBITDA loss of $ 2.4 million . Better Adjusted EBITDA performance was driven by better gross margins and cost - cutting initiatives across the company ( ¹ ) . ( 1 ) The Company discloses adjusted EBITDA , which is a non - GAAP financial measure , to provide investors with insight into the performance of the Company . This measure is not defined under GAAP and should not be considered as an alternative to the financial measures provided by the Company in accordance with GAAP . Refer to additional information under the heading " Reconciliation of Non - GAAP Adjusted EBITDA " at the end of this release regarding non - GAAP supplemental disclosure and its reconciliation . 1