Planet 13 Is Growing Nearly Three Times Faster Than Florida’s Cannabis Market

Planet 13 Holdings Inc. (CSE: PLTH) (OTCQX: PLNH) plans to open its next Florida medical cannabis dispensary in Sarasota on Aug. 21, extending a retail network that is already producing some of the strongest growth among the state’s publicly traded operators.

The 2,600-square-foot store will be located at 2460 Stickney Point Road, near U.S. Highway 41 and the primary route to Siesta Key. Planet 13 said the site gives it access to an affluent coastal population, seasonal tourism and an older, healthcare-oriented customer base.

The store announcement, however, comes against a more important operating backdrop: Planet 13’s Florida volumes are growing at almost three times the rate of the statewide market.

Planet 13 Outpaces the Florida Market

According to an analysis by Pablo Zuanic, senior analyst at Zuanic & Associates, Planet 13 generated approximately 29% year-over-year blended volume growth during the second quarter of 2026. Florida’s overall medical cannabis market grew by approximately 10% to 11% on the same blended basis.

Among publicly listed operators reviewed by Zuanic, Green Dragon led with 155% blended growth, followed by Planet 13 at 29%, iAnthus at 20%, Curaleaf at 19%, and Verano and Green Thumb at 14% each.

Planet 13’s gains were also balanced across the two major product groups:

• Flower volume increased 29% year over year and 8% sequentially.
• Non-flower volume increased approximately 30% year over year.

By comparison, statewide flower volume increased 10%, while non-flower volume rose 11% during the quarter.

The results represent a sharp acceleration for Planet 13. Its second-quarter flower growth was well above its 0% average year-over-year growth during the previous four quarters, while non-flower growth rose from an 8% trailing-four-quarter average to approximately 30%.

Florida Cannabis Sales Return to Growth

Planet 13’s expansion comes as Florida’s medical cannabis market begins recovering from two consecutive years of sales declines.

Zuanic’s analysis, drawing on Headset and Florida Office of Medical Marijuana Use data, estimated second-quarter sales of $497 million, up 2% year over year and 4% sequentially.

That modest return to dollar growth follows estimated declines of:

• 13% in 2025
• 10% in 2024

Florida consumers purchased approximately 30.7 million units during the quarter, up 4% year over year. Official state figures showed dispensaries sold 1.96 million ounces of flower, an increase of 10%, and 5.73 billion milligrams of non-flower products, up 11%.

Pricing pressure also moderated. Headset data implied that average unit prices declined approximately 2% year over year, compared with an 18% decline in 2025 and an 11% decline in 2024. Zuanic’s blended price-and-product-mix calculation showed a larger 7% year-over-year decline, partly reflecting consumers’ movement toward larger package sizes.

Growth Is Coming Before Full Store Productivity

Planet 13’s recent growth does not mean its Florida stores have reached peak productivity.

The company averaged approximately 1,430 ounces of flower per store during the second quarter, about 45% below Florida’s statewide average of 2,570 ounces.

For non-flower products, Planet 13 averaged approximately 3.32 million milligrams per store, roughly 56% below the state average of 7.53 million milligrams.

At the same time, productivity is improving. Planet 13’s flower volume per store increased approximately 28% year over year, while non-flower volume per store grew approximately 29%.

That combination—rapid growth from a still-low productivity base—suggests Planet 13 may have additional room to improve output from existing locations as stores mature.

Zuanic also noted that products from the company’s new butane hash oil, or BHO, production facility had not yet reached dispensary shelves when the report was published. The additional extract inventory could provide another source of non-flower growth.

Planet 13 Doubles Its Product Assortment

The company has also significantly expanded the range of products available inside its stores.

Zuanic & Associates found that the average surveyed Florida dispensary carried 218 SKUs. Planet 13 increased its SKU count by 101% compared with the firm’s previous survey, the second-largest increase among reviewed operators behind Mint’s 107% expansion.

Planet 13 also remains more heavily weighted toward flower than the broader market. Flower and pre-roll products represented approximately 51% of its assortment, compared with a statewide average of 39%.

The expanded assortment may help the company address gaps in store productivity, particularly as it introduces more internally produced concentrates and other non-flower products.

Florida Adds Stores Without Clear Saturation

Florida ended the second quarter with 767 medical cannabis dispensaries, up from:

• 738 at the end of 2025
• 702 at the end of 2024
• 615 at the end of 2023

Operators added a net 29 stores during the first half of 2026, compared with 36 during all of 2025.

Despite the continued expansion, statewide volume per store increased. Flower volume per location rose approximately 4% year over year, while non-flower volume per store increased 5%, suggesting the market has continued absorbing new retail capacity.

As of July 17, Planet 13 operated 33 Florida stores, compared with 170 for Trulieve, 86 for Verano, 74 each for Curaleaf and Vireo Growth, 65 for Ayr Wellness and 44 for Surterra. The Sarasota opening would bring Planet 13’s network to 34 locations.

Sarasota Extends a Capital-Efficient Strategy

Planet 13 described the Sarasota dispensary as part of its capital-efficient Florida model, combining relatively low build-out costs with premium retail standards and flexibility for future merchandising.

“Sarasota is one of Florida’s most affluent coastal communities, and it’s exactly the type of market where our retail model performs best,” said Bob Groesbeck, co-CEO of Planet 13.

Groesbeck said the combination of permanent residents, seasonal visitors and an older patient population aligns with Florida’s medical cannabis program. Management expects the location to perform consistently from its opening.

The Sarasota store therefore represents more than an additional dot on Planet 13’s Florida map. It arrives as the company’s volumes accelerate, its product assortment expands, and statewide pricing begins to stabilize—although store productivity remains well below the Florida average and will be an important metric to watch as the network grows.

While operators continue refining their growth strategies in a more competitive market, these trends—and the capital, partnership and M&A opportunities shaping the next phase of the industry—will be front and center at IgniteIt’s Colorado Spotlight on Sept. 18. The gathering will bring together operators, investors, advisors and industry leaders to explore technical deal structures, capital formation, acquisitions, strategic partnerships and the practical pathways companies are using to scale, raise capital or position themselves for a successful exit.