Did the company provide guidance for future quarters or FY 2025, and what does that imply for valuation?

Planet 13 (PLND) did not accompany its Q2 2025 earnings release with any explicit forward‑looking guidance for the remainder of the quarter, the full‑year 2025, or the upcoming fiscal year. The filing simply states the results and provides the usual “all figures are reported in United States dollars,” without a management commentary on sales outlook, EBITDA targets, or capital‑expenditure plans. In the absence of a top‑down forecast, the market is left to infer future performance from historical growth trends and the company’s operational backdrop, which introduces a modest degree of valuation uncertainty.

From a valuation standpoint, the lack of guidance typically compresses the forward‑multiple range that analysts apply, as investors price in a risk premium for the unknown. For a growth‑oriented cannabis operator like Planet 13, where cash‑flow expectations are a key driver of the price‑to‑sales and EV/EBITDA multiples, the missing guidance may lead the stock to trade on a tighter valuation band until new information surfaces (e.g., a management update or sector‑wide policy shift). Traders might therefore look for catalyst‑driven moves—such as a forthcoming earnings call, a press release on state‑level licensing, or broader market sentiment toward the cannabis sector—to time entry or exit. Technically, PLND has been hovering near its 50‑day moving average with modest volume, suggesting that a breakout on positive news (e.g., a later guidance upgrade) could offer a short‑to‑medium‑term upside, whereas a downside break below recent support may signal the market’s penalization of the guidance void.