Planet 13 Holdings

What Planet 13 Holdings does

Planet 13 Holdings, Inc. (CSE: PLTH, OTCQX: PLNH) is a vertically integrated multi-state cannabis company headquartered in Las Vegas, Nevada. Following its February 2026 exit from California, the company operates 34 dispensaries across three states: Florida (30+ locations following the May 2024 acquisition of VidaCann LLC for approximately US$63.4 million), Nevada (including the nation's largest dispensary near the Las Vegas Strip and the DAZED! consumption lounge), and Illinois (Waukegan). The company operates across the cannabis value chain with internal cultivation, a Florida BHO extraction facility (OMMU-approved May 2026) producing concentrate formats including Badder, Shatter, Crumble, Sugar, Sauce, Diamonds, Live Resin disposables, and C-Cell cartridges, and retail dispensary operations.

The company's revenue model is anchored by direct-to-consumer retail cannabis sales (medical in Florida and Illinois; adult-use in Nevada), with secondary streams from wholesale distribution to licensed operators, the DAZED! consumption lounge, and the Planet 13 Lifestyles brand (apparel and lifestyle merchandise) supported by celebrity partnerships with Wiz Khalifa (Khalifa Kush), Future, Mike Tyson, Ric Flair, and UFC's Chito Vera. Customer acquisition is driven by experiential retail formats, the redesigned Planet 13 Rewards tiered loyalty program (Insider/Prestige/VIP, up to 6x points per dollar), and a mobile app. Two Co-CEOs, Robert Groesbeck and Larry Scheffler, lead the company alongside an interim CFO and a recently expanded board with judicial and real estate finance expertise.

Planet 13's near-term operational story is one of strategic repositioning: FY2025 revenue declined 11.2% to $103.4M and Q1 2026 revenue of $21.1M was down 24.8% YoY, driven by Florida price compression, weak Las Vegas tourism, and California exit noise. Management has prioritized cost reduction, divestiture of cash-flow negative operations, and operational buildout in Florida (BHO extraction, new store openings) as the path to restoring margin and growth. The company remains unprofitable at the operating and net income levels, with FY2025 operating loss of $29.4M and net loss of $63.9M, and trades at a depressed valuation of approximately $60M market cap against $103M of LTM revenue.

Name

Planet 13 Holdings

Legal name

Planet 13 Holdings, Inc.

Website

https://investors.planet13.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Planet 13 Holdings is a vertically integrated multi-state cannabis operator running 34 dispensaries across Nevada, Florida, and Illinois, with internal cultivation, BHO extraction, a consumption lounge, and a lifestyle brand, serving medical patients and adult-use consumers.

Ownership category

akta.pro rank

Product category

Cannabis Retail

NAICS

All Other Amusement and Recreation Industries (71399)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Cannabis Dispensary with On-Site Consumption Lounge (where permitted) (CRANAFAF)

akta.pro secondary industries

Adult-Use (Recreational) Cannabis Dispensaries (CRANAFAA), Medical Cannabis Dispensaries (CRANAFAB), Cannabis Dispensary + Delivery/Online Pickup (Omnichannel Retail) (CRANAFAG)

Keywords

• Cannabis retail dispensary
• Cannabis cultivation production
• Cannabis consumption lounge
• Cannabis concentrates extraction
• Multi-state cannabis operations

Headquarters

HQ city

Las Vegas

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Retail Cannabis Sales: Revenue from direct-to-consumer retail sales of cannabis products through company-owned dispensaries across Nevada, Florida, and Illinois. Includes both medical cannabis (Florida, Illinois) and adult-use recreational sales (Nevada).
2. Wholesale Cannabis Products: Revenue from wholesale distribution of cultivated and produced cannabis products to other licensed operators.
3. Entertainment and Consumption Lounge: Revenue from the DAZED! consumption lounge experience in Las Vegas, offering immersive cannabis experiences alongside food and entertainment.
4. Lifestyle Brand Products: Revenue from branded merchandise, apparel, and lifestyle products sold at dispensaries and through partnerships with celebrities including Wiz Khalifa (Khalifa Kush) and athlete sponsorships.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Planet 13 Holdings is a vertically integrated multi-state cannabis company that operates retail dispensaries across Nevada, Florida, and Illinois, including the nation's largest dispensary located just off The Strip in Las Vegas. The company runs cultivation, production, and dispensary operations and operates the DAZED! consumption lounge in Las Vegas. It has a Florida BHO extraction facility producing cannabis concentrate formats, branded products under the Planet 13 Lifestyles label, and a tiered loyalty program (Planet 13 Rewards).

Product overview

Planet 13 Holdings operates as a vertically integrated multi-state cannabis company with a platform-plus-modules architecture. The core offering encompasses cannabis cultivation, production, and dispensary retail operations across Nevada, Florida, and Illinois, anchored by the nation's largest dispensary in Las Vegas. The product portfolio extends beyond cannabis retail to include the DAZED! consumption lounge for immersive entertainment experiences, the Planet 13 Rewards loyalty program with tiered benefits, and the Planet 13 Lifestyles sub-brand covering apparel and lifestyle merchandise. The company produces proprietary concentrate products (BHO concentrates, Live Resin disposables, C-Cell cartridges) through its Florida extraction facility, while also offering partner brands including Khalifa Kush and ONI products. The mobile app enables customer engagement with the loyalty program across all dispensary locations.

Differentiator

Problem solved

Functional benefit

Brands

• Khalifa Kush: Wiz Khalifa branded cannabis products powered by Planet 13
• Lifestyles Brand Company

Products and services

• Dispensary Operations
• DAZED! Consumption Lounge
• BHO Concentrate Product Line
• Live Resin Disposables
• C-Cell Vaporizer Cartridges
• ONI (Khalifa Kush) Solventless Products
• Planet 13 Rewards Loyalty Program
• Planet 13 Lifestyles Brand
• Khalifa Kush Products
• HaHa Fast-Acting Soft Chews
• Planet 13 Mobile App

Quantifiable outcome

• Return customer rates increased from 3-4% to over 20% with experiential retail events and activations
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• Las Vegas Metropolitan Police DepartmentminorOthers · 4 June 2026Partnership for training law enforcement to identify cannabis-impaired drivers. Police training program to spot 'high' drivers implemented with Planet 13 cooperation.
• Florida Office of Medical Marijuana Use (OMMU)coreOthers · 25 May 2026Regulatory approval body for Florida medical cannabis operations. OMMU approved Planet 13's BHO extraction facility in May 2026, completing the final major infrastructure investment in Florida operational buildout.
• Praetorian Global, Inc. (ONI Products)coreGTM or Marketing Partner · 19 November 2025Exclusive partnership to launch ONI (Khalifa Kush) solventless cannabis products in Florida. Two initial solventless products launched in Planet 13 Florida stores in November 2025 with plans to expand further.
• Future (Rapper)minorGTM or Marketing Partner · 12 February 2025Brand partnership and product collaboration with rapper Future as part of Planet 13's celebrity lifestyle branding strategy.
• Mike TysonminorGTM or Marketing Partner · 12 February 2025Brand partnership with boxing legend Mike Tyson as part of Planet 13's celebrity and athlete collaboration strategy.
• Ric FlairminorGTM or Marketing Partner · 12 February 2025Brand partnership with wrestling legend Ric Flair as part of Planet 13's celebrity and athlete collaboration strategy.
• Wiz Khalifa / Khalifa KushcoreGTM or Marketing Partner · 15 August 2024Exclusive Khalifa Kush products offered at Planet 13 Las Vegas Entertainment Complex, branded as 'Powered by Planet 13'. Partnership includes product exclusivity and celebrity endorsement.
• Chito Vera (UFC)minorGTM or Marketing Partner · 24 July 2024First sponsored athlete for Planet 13 Lifestyles Brand Company. UFC Title Contender representing the brand in sports and lifestyle context.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Curaleaf Holdings: Multi-state cannabis operator with retail dispensaries, cultivation, and brands across the U.S. Directly comparable to Planet 13 in vertically integrated retail footprint, store count, and state coverage (FL, IL, NV overlap).
• Trulieve Cannabis: Vertically integrated cannabis MSO with the largest Florida dispensary footprint in the state. Closest direct competitor to Planet 13 in Florida retail, with overlapping cultivation, production, and retail model.
• Green Thumb Industries: Multi-state cannabis operator with retail, cultivation, and brand portfolio (RISE, Incredibles). Comparable to Planet 13 in multi-state strategy, vertical integration, and lifestyle/brand-driven retail positioning.
• Cresco Labs: Multi-state cannabis MSO with retail (Sunnyside), cultivation, and branded products (High Supply, Good News). Comparable to Planet 13 in vertically integrated operations, multi-state retail, and emphasis on branded product portfolio.
• Verano Holdings: Vertically integrated cannabis operator with multi-state retail (Zen Leaf, MUV), cultivation, and brands. Comparable to Planet 13 across state footprint, vertical integration, and brand-led retail strategy.
• Tilray Brands: Multi-state and international cannabis operator with significant Florida and Nevada presence. Comparable to Planet 13 in scale, multi-state strategy, brand portfolio, and ongoing turnaround/operational focus.
• Ayr Wellness: Multi-state vertically integrated cannabis MSO with retail (Dispensary 33, Sira Naturals) and cultivation across FL, IL, NV, and others. Direct competitor to Planet 13 in core geographies and operational model.
• Jushi Holdings: Multi-state cannabis MSO with retail (Beyond Hello), cultivation, and processing in FL, IL, NV, and PA. Direct competitor in all three of Planet 13's core states, with comparable vertical integration and store format.

Regional players

• Glass House Brands: California-focused cannabis operator with cultivation and retail, recently expanded via Glass House Farms. Comparable to Planet 13 in vertical integration and California footprint, where Planet 13 recently exited.

Emerging players

• Cookies: Cannabis lifestyle brand and dispensary operator founded by Berner, with retail and cultivation across multiple states. Comparable to Planet 13 in celebrity-driven branding, lifestyle merchandise, and experiential dispensary format.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/p13holdingsinc
• Instagraminstagram.com/planet13official_
• LinkedInlinkedin.com/company/planet13holdings

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds8 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Planet 13 Holdings