Planet 13 (PLTH) Corporate presentation summary

Business overview and strategy

• Operates as a national cannabis retailer with 30 open retail stores across 4 states, supported by 5 cultivation and 4 production facilities as of August 8, 2024.

• Pursues a multi-year growth plan focused on expanding retail, wholesale, and launching a lifestyle brand.

• Maintains a top brand portfolio, including leading edibles, vape, concentrate, and pre-roll products, with multiple industry awards.

• SuperStores serve as flagship destinations, generating significant revenue and brand exposure, with plans to replicate this model in Florida.

• Lifestyle brand initiatives include e-commerce and a dedicated app, aiming to deepen customer engagement.

Financial performance

• Achieved $98.5M in annual revenue for 2023, reflecting an 11% CAGR over four years.

• Q2 2024 revenue reached $31.1M, up 20.3% year-over-year, with gross profit of $15.8M and a gross margin of 50.9%.

• Adjusted EBITDA for Q2 2024 was $3.2M, a 16% increase from the prior year, with a margin of 10.3%.

• Net loss for Q2 2024 was $8.1M, up 74.9% year-over-year, primarily due to increased operating expenses.

• As of August 8, 2024, cash stood at $28.7M with total debt of $10.3M and insider ownership at approximately 30%.

Growth initiatives and market opportunities

• Florida presents a major growth opportunity, with adult-use cannabis on the November 2024 ballot and projected market growth from $2.0B in 2023 to $4.2B in 2026.

• Plans to expand neighborhood stores in Florida, targeting 4–10 new locations by year-end 2024 and further acquisitions in Nevada.

• Wholesale strategy includes launching CBD wellness products, expanding brand presence nationally, and leveraging retail leadership to secure shelf space with multi-state operators.

• SuperStore concept to be introduced in major Florida cities, aiming to replicate Las Vegas success.

• Average yearly sales per neighborhood store are approximately $2.5M, with continued focus on operational efficiency and market expansion.