Planet 13 Holdings Inc.

Q2 FY2026 EarningsQ2 FY26 results beat consensus on revenue ($22.9M vs. $22.2M expected) and GAAP EPS (-$0.02 vs. -$0.01 expected, though improved YoY). Gross margin outperformed significantly at 53.9% vs. 48.9% consensus, driven by Florida market scaling and a $1M one-time inventory reserve adjustment. Despite the top-line beat, total revenue declined 14.9% YoY primarily due to the strategic exit from the California market. Management confirmed a definitive merger agreement with Vireo Growth Inc. on July 26, 2026.