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 reported record annual revenue of $522.3 million for fiscal year 2024, a 7% increase from the previous year. The company achieved its sixth consecutive quarter of positive free cash flow at $5.9 million, with trailing free cash flow totaling $22.0 million.
The company's Cabana Club loyalty program reached 5.32 million members worldwide, including over 76,000 ELITE members. In Canada alone, membership grew 34% year-over-year to 1.72 million members. High Tide maintained an 11% market share across its operating provinces while representing only 5% of total cannabis retail stores.
Q4 2024 highlights include revenue of $138.3 million (up 9% YoY), gross profit of $35.8 million (up 8% YoY), and a net loss of $4.8 million. The company plans to add 20-30 new locations during calendar 2025 while maintaining positive free cash flow.
High Tide Inc. (Nasdaq: HITI) has announced it will release its financial and operational results for Q4 and full fiscal year 2024 after market close on January 29, 2025. The company will host a webcast on January 30, 2025, at 11:30 AM Eastern Time, featuring CEO Raj Grover and CFO Mayank Mahajan to discuss results and 2025 plans.
High Tide operates as the second-largest cannabis retailer globally by store count, with its flagship Canna Cabana chain comprising 191 locations across Canada. The company maintains a diversified portfolio including retail automation technology Fastendr™, multiple e-commerce platforms for accessories, CBD operations, and wholesale distribution. High Tide has been recognized among Canada's Top Growing Companies by the Globe and Mail for four consecutive years and ranked first in the retail category on the Financial Times' Americas' Fastest Growing Companies list for 2023.
High Tide Inc. (HITI) has announced its entry into the German medical cannabis market through the acquisition of a 51% stake in Purecan GmbH for €4.8 Million. Purecan is a profitable pharmaceutical wholesaler with a German import license, warehousing infrastructure, and an in-development telemedicine portal.
The transaction values Purecan at €9.5 Million, representing 3.0x Annualized Adjusted EBITDA. Purecan demonstrates strong financials with a €15 million December revenue run rate, ~40% gross margins, and 29% EBITDA margins. The purchase includes €2.4M in High Tide shares, €1.2M in cash, and €1.2M in a promissory note.
High Tide plans to leverage its Canadian cannabis procurement expertise, built on over $1.5 billion in cumulative cannabis sales, to establish a significant presence in Germany's medical cannabis market, which is projected to reach €1 billion by 2028.
High Tide (HITI) reported significant achievements for 2024, marking its third consecutive year as Canada's top revenue-generating cannabis company. Key highlights include: positive free cash flow for five straight quarters totaling $21.8 million, positive net income for two consecutive quarters, and an annualized revenue run rate exceeding $525 million. The company expanded to 191 stores across Canada, adding 29 new locations in 2024.
The Cabana Club loyalty program grew to over 1.55 million members and 57,000 ELITE members in Canada, contributing to a 12% market share across five provinces. The program expanded internationally to the US and Europe. High Tide achieved $1,658 in retail sales per square foot and maintained a strong cash position of $35.3 million. Same-store sales increased by 118% over three years, significantly outperforming the industry average.
High Tide (Nasdaq: HITI) announced the opening of two new Canna Cabana stores in Hinton, Alberta and Pembroke, Ontario, bringing their total Canadian locations to 191. The Hinton store, located at Parks West Mall, will begin selling recreational cannabis products and accessories tomorrow, while the Pembroke location will initially sell accessories from December 22nd, with cannabis sales to follow.
The company has achieved its 2024 goal of opening 20-30 new stores, successfully launching 29 locations across Canada. High Tide now operates 84 stores in Alberta and 76 in Ontario, with plans to expand to 300 locations nationwide in the coming years. The expansion has been funded through strong free cash flow without using cash reserves.
High Tide Inc. (Nasdaq: HITI) announced the opening of its 75th Canna Cabana store in Ontario, located in Richmond. This marks the company's 189th cannabis retail location in Canada. The new store, situated at 5921 Perth Street, will begin operations on December 14, 2024, in a shopping area anchored by major retailers including a provincial liquor store and national chains.
The location benefits from low competitive density and favorable cannabis demographics. CEO Raj Grover expressed excitement about the company's global Cabana Club launch and its potential impact on the e-commerce space. Additionally, the company granted 918,688 restricted share units to officers, directors, and consultants under its Omnibus Plan.
High Tide (Nasdaq: HITI) announces global expansion of its Cabana Club membership program to the United States, European Union, and United Kingdom. The company is adding international snacks and confectionery to its existing e-commerce offerings of CBD products and consumption accessories. The global e-commerce snacks market is projected to reach US$113 billion this year with 14% annual growth, potentially reaching US$218 billion by 2029. The expanded Cabana Club will offer members lowest price guarantees and single login access across platforms. International ELITE memberships are being offered at a 50% discount for the first year at $15, €15, and £15 respectively.
High Tide Inc. (Nasdaq: HITI) has opened its second Canna Cabana store in Scarborough, Ontario, marking the company's 188th location in Canada and 74th in Ontario. The new store, located at 2432 Eglinton Avenue East, is situated in a busy shopping complex near the Kennedy GO Train and subway station. The location will serve approximately 20,000 residents within a one-kilometer radius and is part of High Tide's strategy to secure prime real estate in high-traffic areas. This represents the company's 11th store in Toronto and second in Scarborough, a borough with over 630,000 residents.
High Tide (Nasdaq: HITI) announced the opening of its third Canna Cabana store in Hamilton, Ontario, marking the company's 187th location in Canada and 73rd in Ontario. The new store, located at 1508 Upper James Street in a former GameStop location, will serve an area with over 150,000 people within a 5-kilometer radius. The opening contributes to High Tide's achievement of 25 new stores across Canada this year, including 19 in Ontario, exceeding their minimum target of 20 new stores. The company plans to focus on underserviced and high-potential markets in Ontario while developing new e-commerce initiatives.
High Tide Inc (Nasdaq: HITI) has completed the final tranche of its $15 million subordinated debt facility, issuing 5,000 debentures at $900 each. The debentures will mature on July 31, 2029, with a 12% annual fixed interest rate payable quarterly. The facility was drawn in two tranches: $10 million previously drawn on July 31, 2024, and the final $5 million now completed. The proceeds will be used for debt repayment maturing on December 31, 2024, business development, and working capital. The debentures are secured by company assets and rank second to existing senior debt.
FAQ
What is the current stock price of High Tide (HITI)?
What is the market cap of High Tide (HITI)?
