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High Tide Inc. reported record second quarter 2026 revenue of $179.3 million, with adjusted EBITDA of $13.9 million and positive net income. Revenue grew 30% year over year while income from operations rose to $6.1 million from $0.9 million, reflecting stronger margins and cost control.
Free cash flow was $1.5 million for the quarter and $4.4 million for the first six months. German medical cannabis subsidiary Remexian generated record revenue of $31.6 million with a 27% gross margin and reached 14% market share for the three months ended March 2026, up from 10.3%.
High Tide Inc. reported strong growth for the quarter ended April 30, 2026, with revenue rising to $179,296 from $137,804 a year earlier and gross profit improving to $48,391. Income from operations increased to $6,097 from $932, although net income for the period was modest at $24.
For the six months, revenue reached $357,625 versus $280,265, and net income attributable to owners turned positive at $1,008 compared with a prior loss of $5,706. The new medical cannabis distribution segment, driven by the Remexian Pharma acquisition, contributed $56,618 in six‑month revenue but a loss from operations of $2,502.
High Tide ended the period with total assets of $347,867, total liabilities of $245,955 and shareholders’ equity of $101,912. Subsequent events include credit approval for new senior secured Bank of Montreal facilities totaling $40,000 and an agreement to acquire Ontario retailer J. Supply Holdings Inc. for about $7,700, subject to customary conditions.
High Tide Inc. reports that it has secured credit approval from Bank of Montreal for new senior secured credit facilities totaling C$40 million, subject to customary closing conditions. The package includes a $25 million committed revolving facility with a three-year maturity and a $15 million committed delayed draw term loan.
The revolving facility will refinance the company’s loan with connectFirst at closing and support working capital, corporate needs, and permitted acquisitions and investments. Management expects the connectFirst balance to be slightly over $6 million, leaving almost $19 million available on the revolver. The $15 million term loan will refinance existing $15 million second-lien debentures.
Funds become available once closing conditions are met, at which time the existing senior credit facility will be repaid, with closing expected within approximately 30 days. High Tide describes itself as a leading cannabis retailer with 228 Canna Cabana locations and about a 12% share of the Canadian market, and a 14% share of the German medical cannabis market through Remexian Pharma.
High Tide Inc. is expanding its Canadian retail footprint by agreeing to acquire four Northern Helm cannabis stores in Ontario for $7.74 million. The locations in Bowmanville, Kingston, Courtice, and Oshawa will bring its network to 228 Canna Cabana stores across Canada and 103 in Ontario.
The arm's length deal involves assumed debt with a 2% interest rate plus a mix of cash and High Tide common shares, issued at a price based on a 10-day volume-weighted average with a floor tied to the TSX Venture Exchange’s Discounted Market Price. The purchase price equates to 4.5x the annualized Adjusted EBITDA of the acquired stores for the three months ended March 31, 2026.
Closing in the coming weeks is subject to approvals from the TSX Venture Exchange and the Alcohol and Gaming Commission of Ontario, as well as customary conditions. Management highlights this acquisition as part of a strategy to add cash-flowing assets, build a network of more than 350 stores over time, and complement growth in its German medical cannabis distribution business.
High Tide Inc. reported that it has opened a new Canna Cabana retail cannabis store in Welland, Ontario and expects to open another in Calgary, Alberta. The Welland store begins sales on June 10, 2026, while the Calgary location is expected to start on June 26, 2026, pending regulatory approval. These additions bring the Canna Cabana network to 224 stores across Canada, including 99 in Ontario and 92 in Alberta. Management highlights these locations as high-traffic, low-competition trade areas that support its discount club retail model and membership-focused growth strategy.
High Tide Inc. has filed a Form 6-K announcing when it will release financial and operational results for its second fiscal quarter of 2026. The results for the quarter ended April 30, 2026 will be issued after markets close on June 15, 2026 and posted on SEDAR+, EDGAR, and the company’s website.
The company will host a webcast on June 16, 2026 at 11:30 a.m. Eastern Time with its CEO and CFO to discuss the quarter and the remainder of the fiscal year. High Tide is also granting 66,500 incentive stock options to employees, exercisable for three years and vesting over two years under its Omnibus Plan.
High Tide Inc. is expanding its retail footprint with a new Canna Cabana cannabis store in Toronto’s Rexdale neighbourhood. The store at 150 Silver Reign Drive is expected to begin selling recreational cannabis and accessories for adult use on May 17, 2026.
This opening brings Canna Cabana’s footprint to 222 stores across Canada, including 98 locations in Ontario. Management highlights the site’s position in a busy power centre serving more than 263,000 residents within five kilometres, and frames the move as part of a disciplined, profitability-focused growth strategy in Canada’s largest cannabis market.
High Tide Inc. reported that certain officers, directors and consultants, led by its President and CEO, bought a total of 90,882 common shares on the open market between May 6 and May 8, 2026, at an average price of $3.39 per share. Following these purchases, insiders and certain consultants together own or control 7,720,360 common shares, representing about 8.8% of issued and outstanding shares. Management linked the buying to confidence in the company’s growth prospects, highlighting a $40 million senior lending credit facility term sheet with a Big 5 Canadian bank, record quarterly medical cannabis distribution volumes at Remexian, and Remexian’s German market share rising to over 14%.
High Tide Inc. reported that its 51%-owned German subsidiary, Remexian Pharma GmbH, sold 7.6 tonnes of medical cannabis into the German market in the quarter ended April 30, 2026, the highest quarterly distribution volume in its history.
The tonnage grew 21% sequentially and 49% year over year, supporting the company’s view that Germany is a key growth market and a platform for broader European expansion. Management links this performance to combining Remexian’s German distribution platform with High Tide’s Canadian procurement scale.
The company emphasized that these tonnage figures are preliminary and unaudited, may be revised when full second fiscal quarter 2026 financial statements are prepared, and should not replace the complete results, which are expected to be reported in June 2026.