Planet 13 Hldgs Inc Nev

Good afternoon, ladies and gentlemen, and welcome to the Planet 13 fourth quarter 2024 earnings conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Wednesday, March 26, 2025. I would now like to turn the conference over to Mark Kindersma. Please go ahead.

Thank you. Good afternoon, everyone, and thanks for joining us today. Plan 13 Holdings' fourth quarter 2024 financial results were released today. The press release, the company's annual report 10-K, including the NDNA and financial statements, are available on the SEC website, EDGAR, and CDAR+, 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. 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, and 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 CDAR+. 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 listed 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. Plan 13's 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. I'll now pass the call over to Larry Scheffler, co-chairman and co-CEO. Larry, go ahead.

Good afternoon, everyone, and thanks for being with us today. I'll start with a look at performance in Q4 before handing things over to Dennis for a deeper dive into our financials. Bob will then walk you through how we are executing on our strategy and positioning ourselves for success in 2020 and beyond. In Q4 2020, North Shore delivered 12.8 million in revenue, contributing to a full year of 55.7 million. While we navigate the typical seasonal trends in Q4 and broader economic pressures affecting consumer spending, our commitment to offering premium products and unique shopping experience allowed us to maintain our leadership position. This resilience reinforces our brand strength in the attractiveness of the superstore, shopping, entertainment, and first destination. Revenue from our neighborhood store network came in at 14.1 million, reflecting the 1.3 million sequential decline in 2003. We saw encouraging growth in Nevada and California, demonstrating the resilience of our model in those markets and the value of having owned brands and vertical operations to help protect margin. Florida presented short term challenges, primarily due to the failure of amendment three for adult use and the subsequent relinquishment of inventories being pushed out into the marketplace, causing significant price compression along with the impact of selling to lower quality products from the summer growing season. A challenge we addressed last quarter. The good news is that our two newly upgraded greenhouses are already showing strong early results, positioning us for improved quality and supply going forward. While we anticipate continued price and pressure, the market recalibrate under medical regulations We remain confident in our ability to adapt and capture long-term opportunities. Across the Superstore and our neighborhood network, total retail revenue reached 26.9 million compared to 29 million in Q3 2024 and 19.2 million in Q4 of 2023. While substantial performance reflected temporary headwinds, our year-over-year growth underscores the significant progress We've made an expanding our footprint. With a strong foundation in place, we remain focused on delivering value to our customers and shareholders. We generated $3.4 million from wholesale, lifestyles, and other revenue in Q4, up from $3.2 million in Q3. According to BDSA, we ranked as the fourth highest branded sales in Nevada during the quarter, demonstrating the strength of our portfolio. We secured the number two spot in edible sales, led to the continued success of Ha Ha Gummies, and ranked three in concentrates. Additionally, we remain a top player in both flour and bakes. Despite increasing competition in our product portfolio and sales performance, we remain resilient. Our ability to drive higher sales volumes has helped mitigate pricing pressure, leveraging our skilled operational expertise to maintain a strong market position. Despite our industry-wide environment of pricing compression, we continue to navigate challenges with competence and focus. Our deep retail expertise, commitment to product quality, and strong brand billing capability set us apart in the evolving market. Excuse me. making decisive steps to adapt, innovate, and defend our leadership positions. With that, I'll turn it over to Dennis to walk through our financials.