Vertically-integrated cannabis company Planet 13 Holdings Inc. (CSE: PLTH) (OTCQB: PLNHF) announced financial results Tuesday for the three-month and nine-month period ended September 30, 2021.
Larry Scheffler, co-CEO of Planet 13, said the company "continued to drive strong performance during the quarter from our core Las Vegas operations."
He added, "Along with stellar performance from our Nevada operations, this was a massive quarter towards securing the future growth of Planet 13."
Q3 2021 Financial Highlights
- Revenues totaled $33 million as compared to $22.8 million, representing a year-over-year increase of 45%.
- Gross profit before biological adjustments was $17.6 million or 53.5%, as compared to $13 million or 56.9% in the corresponding quarter of 2020.
- Operating expenses, excluding non-cash compensation expense and depreciation and amortization, amounted to $15.1 million as compared to $7.2 million, representing a year-over-year improvement of 110%.
- Net …