High Tide Hits Record Financial Highs in Third Quarter

The company’s performance reflects a period of aggressive expansion and operational efficiency. Revenue climbed 33% compared to the same period last year, marking the fastest growth rate in 13 quarters. With gross profit hitting a record $52.7 million, High Tide is seeing its bottom-line growth outpace top-line gains, a shift CEO Raj Grover attributes to years of disciplined operational scaling.

Driving these results are two primary engines: the Canna Cabana retail chain in Canada and the Remexian medical cannabis business in Germany. Canna Cabana, which now operates 232 locations, maintained a 14% market share in its primary regions. Simultaneously, Remexian distributed a record 10.2 tonnes of medical cannabis in Germany, with revenue from that segment rising to $38.2 million. The company continues to prioritize liquidity, reporting $7.0 million in free cash flow, even while investing in new locations and navigating an evolving regulatory landscape in the United States.