Welcome to our dedicated page for High Tide news (Ticker: HITI), a resource for investors and traders seeking the latest updates and insights on High Tide stock.
High Tide Inc. (HITI) maintains its position as Canada's leading vertically integrated cannabis retailer through continuous innovation in retail operations and e-commerce solutions. This news hub provides investors and industry observers with essential updates on corporate developments, financial milestones, and strategic initiatives within the evolving cannabis market.
Access authoritative information about HITI's retail expansions, technology implementations like the Fastendr kiosk system, and quarterly performance metrics. Our curated collection features official press releases covering earnings announcements, partnership agreements, product launches, and regulatory compliance updates.
Key focus areas include Canna Cabana store network growth, cannabis accessory innovations, and operational efficiency improvements. Users can track the company's progress in enhancing customer experiences through both physical retail locations and digital platforms while monitoring its competitive positioning within North American markets.
Bookmark this page for streamlined access to verified information about High Tide's business strategies, leadership decisions, and market responses. Regular updates ensure you maintain current awareness of developments affecting this dynamic cannabis enterprise.
High Tide Inc. (HITI) reports significant financial growth for the fiscal year ending October 31, 2021, with revenues soaring 118% to $181.1 million. The fourth quarter revenue rose 12% to $53.9 million. Gross profit increased by 108% to $64.0 million, with a gross profit margin of 35%. The company anticipates first-quarter 2022 revenue exceeding $70 million. High Tide also expanded its international customer base to 3 million, launched a discount club model, and completed several acquisitions. A conference call will further discuss these results and future outlook.
High Tide Inc. (Nasdaq: HITI) announced the opening of two new Canna Cabana retail cannabis stores in Regina, Saskatchewan, increasing its locations to 109 across Canada. The Eastgate Drive store is now open, while the Albert Street store will open on January 27, 2022. These expansions are part of High Tide's strategy to grow from 2 to 5 stores in Regina and achieve a total of 150 retail locations nationwide by the end of 2022. Additionally, the company plans to issue $100,000 in shares as consulting fees and granted 35,000 stock options to consultants.
High Tide Inc. (HITI) has opened its 107th retail cannabis store, Canna Cabana, in Regina, Saskatchewan, making it the third in the city. This expansion is part of its strategy to capitalize on Saskatchewan's favorable regulatory environment for cannabis retail. CEO Raj Grover announced plans for two more Regina locations and highlighted the success of its revamped Cabana Club loyalty program. High Tide is set to release its fourth quarter and fiscal year 2021 financial results on January 27, 2022, followed by a conference call to discuss performance.
High Tide Inc. (TSXV: HITI, Nasdaq: HITI) has opened its 106th retail cannabis store at 905 Rymal Road East in Hamilton, Ontario. This marks the third Canna Cabana location in Hamilton, part of the company's growth strategy to reach at least 150 locations across Canada. The company also reported substantial growth in its Cabana Club loyalty program, now with 359,484 members, up 47% in three months. CEO Raj Grover highlighted plans for continued expansion in underserved markets in Ontario and British Columbia.
High Tide Inc. has announced its acquisition of Bud Room Inc. for CAD$3.6 Million, gaining the Fastendr™ technology, which integrates retail kiosks and smart lockers for improved shopping experiences. The technology is expected to enhance transaction speeds, increase customer spending by over 20%, and reduce operational costs. All Canna Cabana locations will implement this technology, with plans for licensing to third-party retailers across North America. The acquisition aligns with High Tide's strategy to boost its market position and revenue generation in the cannabis sector.
High Tide has announced the acquisition of Bud Room Inc. for CAD$3.6 Million, which includes the Fastendr™ technology designed for retail kiosks and smart lockers. This technology aims to enhance customer experience, improve transaction speeds, and reduce costs. A pilot study revealed that over 60% of users preferred Fastendr™, leading to a 20% increase in spending. High Tide plans to equip all Canna Cabana locations with Fastendr™ and expand its licensing opportunities across North America, thereby potentially diversifying revenue streams.
High Tide Inc. (HITI) has highlighted significant milestones from 2021, reflecting on a robust growth trajectory. The company's total revenue surged to CAD$127 million for the nine months ending July 31, 2021, compared to CAD$58 million the previous year, with an annualized revenue run rate of approximately CAD$226 million. High Tide's international revenue run rate increased from CAD$11 million to CAD$80 million, aided by six e-commerce acquisitions. Additionally, they opened 48 new retail stores, totaling 105 in Canada, and grew the Cabana Club membership significantly to over 320,000.
High Tide has launched an at-the-market equity offering program allowing the issuance of up to CAD$40 million in common shares. The program enables the company to sell shares at prevailing market prices, subject to regulatory requirements. Proceeds are intended for strategic initiatives, operational growth, and working capital. CEO Raj Grover emphasized the importance of maintaining a healthy balance sheet and the flexibility the program offers for potential capital raising. Sales will occur through a distribution agreement with ATB Capital Markets and remain effective until certain conditions are met.
High Tide has completed its acquisition of an 80% interest in NuLeaf Naturals for
High Tide has completed its largest acquisition to date, acquiring an 80% stake in NuLeaf Naturals for US$31.24 million. The transaction is expected to significantly enhance High Tide's international revenue, boosting it from CAD$10.6 million to CAD$80 million annual run-rate. NuLeaf, known for its premium cannabinoid products, reported US$19.4 million in revenue and US$5.26 million in Adjusted EBITDA for the year ending September 30, 2021. The acquisition aligns with High Tide's strategy of expanding its e-commerce capabilities in the cannabis space.
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