High Tide Reports Q1 Revenue

LOS ANGELES- High Tide Inc. a Canadian cannabis retailer, announced its financial results for the first quarter ended January 31, 2025, reporting revenue of CAD 142.5 million, an 11% increase from the same period last year. ​

Despite the revenue growth, the company reported a net loss of CAD 2.7 million, equating to a loss of CAD 0.03 per share, compared to break-even earnings in the previous year. This loss was primarily attributed to investments in new store openings and competitive pricing strategies.​

Following the earnings release, High Tide’s stock experienced a decline, reflecting investor concerns over the earnings miss and declining profitability metrics despite top-line growth. ​

Raj Grover, President and CEO of High Tide, expressed optimism, stating that the company’s core Canadian bricks-and-mortar business “continues to get stronger every day,” as evidenced by the fastest pace of same-store sales growth in four quarters.

The company’s Cabana Club loyalty program reached 1.76 million members in Canada, with ELITE memberships exceeding 81,000, reflecting a 153% year-over-year increase. ​

Looking ahead, High Tide plans to open 20 to 30 new stores in Canada during 2025 and aims to exceed 2.5 million Cabana Club members in the country. ​

Despite the recent stock decline, High Tide’s management remains confident in the company’s growth trajectory, focusing on expanding its retail footprint and enhancing customer loyalty programs to strengthen its position in the Canadian cannabis market.