Planet 13 Hldgs Inc Nev

are in a listen-only mode. Later, you will have the opportunity to ask questions during the question and answer session. Please note, today's call will be recorded, and I will be standing by should you need any assistance. It is now my pleasure to turn the conference over to Mark Kindersma with Investor Relations for Planet 13. Please go ahead.

Thank you. Good afternoon, everyone, and thanks for joining us today. Plan 13 Holdings third quarter 2024 financial results were released today. The press release, the company's quarterly report 10Q, including the MD&A and financial statements are available on the SEC website, EDGAR, and CEEDAR Plus, as well as on our website, plan13.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 that 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 uncertainties, the results or events predicted in these four-lead statements may differ 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. 513 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 Grosbeck, co-chairman and co-CEO, and Dennis Logan, CFO. We'll now pass the call over to Larry Scheffler, Co-Chairman and Co-CEO of Plan 13.

Good afternoon, everyone, and thank you for participating in our third quarter call. I will start by discussing a performance in the quarter before turning it over to Dennis to go through our financials and Bob to discuss our strategic initiatives. Turning to our performance in the quarter, in Q3 2024, the Superstore generated $13.4 million. Looking at the Las Vegas tourism stats, visitors to the city were down 3% sequentially, and the average spend was down 7%. This mirrors what we experienced at the Superstore during the quarter with the consumer under pressure. We're also seeing a lot of competition from Delta 9 and dangerous intoxicating hemp derivatives that have seen rapid proliferation and are readily available in mainstream channels, more than ever before. This will continue to be a challenge that we'll fend off by differentiating ourselves both from other dispensaries and hemp products through focusing on product quality and entertainment experience. Revenue from our neighborhood superstore increased to 15.4 million, a 25% sequential improvement, driven by a full quarter of contribution from our Florida operations. During the quarter, we saw a seasonal slowdown from a Florida neighborhood network. Historically, By-the-Can has experienced weaker Q3 results due to challenging summer growing conditions. As Bob will discuss later, we've already implemented measures to address this for the future, including upgrades and improvements to their cultivation facility. This, combined with traditional seasonality for snowbirds contributed to a softer quarter softer than we expected from our Florida operations going forward. Outside of Florida, our operations in Illinois continued to mature and grow. They were up 6% sequentially. We saw small markets related declines in Nevada and California neighborhood stores retail, mainly driven by weaker consumer behavior in both markets. Between the superstore and our neighborhood network, we generated total retail revenue of $28.7 million. compared to 27.4 million, a 5% sequential increase. We generated 3.4 million from wholesale, lifestyle, and other. According to BDSA, we moved up to the third most branded sales of any company in Nevada during Q3, up from fifth, and ranked second in Edibles portfolio sales that were led by our Ha Ha Gummies. This demonstrates that despite the slightly lower wholesale revenue, we've been successful in moving more of our brands through our own shelves. This trend should only improve as we close the acquisition on additional dispensaries in Nevada. With that, I'll pass it over to Dennis to discuss our financials.