Planet 13 Holdings Inc (PLNH)

[DandiDon]

Third-quarter performance
On November 12, Planet 13 Holdings posted its third-quarter earnings, which ended on September 30. For the quarter, the company posted revenue of $4.91 million, which represents an increase of 62.5% from $3.03 million in the third quarter of 2017. Daily customer visits were up 73% in the third quarter since July 1, 2017, when the company began to sell adult recreational cannabis products.

Analysts’ revenue estimates
In the fourth quarter, analysts expect Planet 13 Holdings to post revenue of $7.70 million to take the company’s 2018 revenue to $21.34 million, which represents an increase of 137.1% from $9.0 million in 2017. In 2019, analysts expect the company’s revenue to rise by 338.8% to $93.6 million.

To drive its sales, Planet 13 Holdings had launched its second brand, TRENDI, on November 12, which comes in three products. The products appear to have resonated well with customers, as the company sold ~5,000 units of TENDI in December, which represents a rise of 260% from ~1,700 units in November.