Planet 13 Hldgs Inc Nev

And welcome to today's Planet 13 second quarter 2024 conference call. At this time, all participants have been placed on a listen-only mode, and we will be conducting a question-and-answer session with the covering analysts after the presentation. It is now my pleasure to turn the floor over to your host, Mark Kindersma, Head of Investor Relations.

Mark, the floor is yours. Thank you. Good afternoon, everyone, and thanks for joining us today. Plan 13 Holdings' second quarter 2024 financial results were released today. The press release, the company's quarterly report to NQ, including the MD&A and financial statements, are available on the SEC website, EDGAR, and CDAR+, as well as on our website, plan13holdings.com. Before I pass the call over to management, we'd like to remind listeners that portions of today's discussion include forward-looking statements. The forward-looking statements in this conference call are made as of the date of this call. There can be no assurances that such information will prove to be accurate, but if management's expectations or estimates of future developments, circumstances, or results will materialize. Risk factors that could affect results are detailed in the company's public filings that are made available with the United States Securities and Exchange Commission and on CDR+. We encourage listeners to read those statements in conjunction with today's call. As a result of these risks and absurdities, the results or events predicted and forelooking statements made different materially from actual results or events. In addition, we will refer to both GAAP and non-GAAP financial measures. For information regarding our non-GAAP financial measures and reconciliation to the most directly comparable GAAP measures, please refer to today's press release posted on our website. My 13 financial statements are presented in U.S. dollars, and the results discussed during this call are in U.S. dollars unless otherwise indicated. On the call today, we have Larry Scheffler, co-chairman and co-CEO, Bob Groszak, co-chairman and co-CEO, and Des Logan, CFO. I'll now pass the call over to Larry Schaffler, co-chairman and co-CEO of Planet 13.

Larry? Good afternoon, everyone, and thank you for participating in our second quarter call. Q2 was an exciting period for Planet 13, marked by significant developments and strong financial performance. We successfully closed the transformational acquisition of Vitacan and and opened the completely unique Days Consumption Lounge. Turning to our performance in the quarter, in Q2 2024, the Superstore generated 15.1 million and 11% sequential improvement. This strong performance is directly related to our focus on delivering unique entertainment and experiential value to our customers. We opened Days Consumption Lounge in April, and the results are clear. both as a direct revenue driver with sales from the lounge and as a traffic driver that increased customer visits and sales for the superstore. We are still learning and experimenting with the type of events, marketing, and occasions that work best, but what's clear is that customers love Dazed. Since opening on April 7th, we've hosted fight night watch parties, private events, and podcast tapings. This is just the beginning. We envision big opportunities for events like NFL Sundays, comedy shows, brand-sponsored tasting events, and countless other innovative ideas. This platform stands out in its unparalleled potential in marketing, brand building, and driving traffic. Revenue from our Superstore network increased by 143% sequentially, with us consolidating in Florida on May 10th. It contributed a month and a half to our consolidated financials, resulting in $12.3 million from our neighborhood store network compared to $5.1 million in Q1. If we look at the organic growth by including a full quarter from Florida's store network for both Q1 and Q2, we grew total neighborhood revenue by 2% sequentially. The Florida team continues to push themselves to improve this product in quality and service levels, and the results are obvious. Along with strong performance from Florida, our team in Illinois continues to mature in their operations. They grew sales by 18% sequentially as they build both their reputation and brand equity in the state. Between the Superstore and our neighborhood network, we generated total retail revenues of $27.4 million, a 47% sequential increase. Excluding Florida, retail revenue grew 8% sequentially. We also generated $3.7 million from wholesales, lifestyle, and other things. According to BDSA, we had the fifth most branded sales of any company in Nevada during Q2 and ranked second in our edible portfolio sales, led by Haha Gummies. This continued success is a testament to the product quality and brand equity that we built. With that, I'll pass it over to Dennis to discuss our financials.