Filing Flows › Planet 13 Holdings (PLNH) › Q1 2026
Planet 13 Holdings (PLNH) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
Planet 13 Holdings (PLNH) reported revenue of $21.1M for the first quarter 2026 (Q1 2026), -25% from a year earlier and -16% from the quarter before. Operating margin was -18.5%, net loss $8.1M (38.4% of revenue).
Planet 13 Holdings, Q1 2026: revenue $21.1M (-25% year over year), operating margin -18.5%, net loss $8.1M, operating cash flow −$173K. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.1M | -16% | -25% |
| Operating profit | −$3.9M | — | — |
| Net earnings | −$8.1M | — | — |
| Operating cash flow | −$173K | — | — |
What changed
Revenue was $21.1M in Q1 2026, down 25% year over year and down 16% from the previous quarter. Retail was the largest line at 96% of revenue. Retail lost $4.5M year over year (down 18%), 64% of the total change.
Gross margin was 44.6%, up 1.8 points from Q1 2025. Operating costs exceeded revenue by $3.9M, an operating margin of -18.5%. Operating expenses fell 4% while revenue fell 25%. The quarter ended with a net loss of $8.1M, wider than the previous quarter's $4.6M loss.
Operating cash flow was −$173K. Non-cash charges added back $2.2M of depreciation and $694K of share-based compensation. Working capital and other items added $5.0M. Capital expenditures of $665K exceeded it, leaving free cash flow of −$838K.
Questions
What was Planet 13 Holdings' revenue in the first quarter 2026?
Planet 13 Holdings (PLNH) reported revenue of $21.1M for the first quarter 2026 (Q1 2026), -25% from a year earlier and -16% from the quarter before.
Was Planet 13 Holdings profitable in the first quarter 2026?
Operating loss was $3.9M (-18.5% of revenue) and net loss $8.1M.
Source: Planet 13 Holdings 10-Q on SEC EDGAR.