Canada · Delayed Price · Currency is CAD High Tide Earnings Call Transcripts
Fiscal Year 2026
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Canadian retail growth, high-return store economics, and rising German distribution volumes anchor expansion plans. U.S. rescheduling and new European markets are additional potential catalysts.
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Record Q3 results with revenue up 33% year-over-year and all-time highs in gross profit, operating income, and net income. Strong growth in both Canadian and German segments, disciplined cost controls, and robust cash flow position the company for continued expansion and profitability.
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Expanded to 228 stores with a leading loyalty program and 161% same-store sales growth since 2021. Discount club model, operational efficiency, and strategic real estate drive profitability and market share gains in Canada and Germany. Free cash flow positive and poised for further expansion.
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Q2 2026 delivered record revenue, gross profit, and adjusted EBITDA, driven by strong Canadian retail and rapid growth in Germany. Market share gains, disciplined M&A, and a new CAD 40 million credit facility position the company for further expansion.
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Revenue grew 25% year-over-year to CAD 178.3 million, with adjusted EBITDA up 62% and free cash flow turning positive. Brick-and-mortar and international segments outperformed, while e-commerce showed early recovery. Remexian in Germany posted record sales and margin gains.
Fiscal Year 2025
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Record Q4 revenue and Adjusted EBITDA were driven by strong brick-and-mortar growth, expanding market share, and robust loyalty program performance. Remaxion integration is progressing, with supply chain improvements expected to boost margins in the second half.
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Record Q3 results and expanding market share highlight strong operational execution, with 207 stores and a successful discount club model driving 137% same-store sales growth. The acquisition of a leading German distributor opens new international growth, while disciplined expansion and a robust balance sheet position the company for further gains.
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Record Q3 results driven by bricks-and-mortar growth and strategic entry into Germany, with revenue up 14% year over year and net income turning positive. Integration of Remexian and continued store expansion are expected to fuel further growth.
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Acquisition of Remexian positions the business as a major player in Germany, with plans to leverage Canadian supply chains and brands for further growth. Expansion in Canada and the U.S. will be selective and quality-focused, while buybacks and dividends are targeted for the medium term as cash flows improve.
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Record Q2 revenue and strong same-store sales drove market share gains and loyalty program growth. Brick-and-mortar expansion remains robust, with over a dozen new stores in development and a focus on organic growth. E-commerce is under review, while regulatory and market shifts support future margin expansion.
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Record Q1 revenue grew 11% year-over-year, driven by brick-and-mortar and loyalty program expansion. Same-store sales rose 5%, and the company targets 20-30 new stores in 2025 while pursuing entry into Germany. Adjusted EBITDA declined due to growth investments.
Fiscal Year 2024
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Record annual revenue and free cash flow were achieved, driven by organic store growth and strong brick-and-mortar performance. International expansion advanced with the Purecan acquisition and Cabana Club Global launch, while cost controls and balance sheet strength position the company for continued growth in 2025.
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Record Q3 revenue and net income were achieved, with strong free cash flow and market share gains despite industry headwinds. Store expansion and disciplined cost management drove performance, while new white label products and international opportunities support future growth.
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Q2 saw record free cash flow, rising revenue, and expanding market share, driven by a unique discount club model and data-driven operations. Membership growth and strong margins support further expansion in Canada and readiness for international opportunities.
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Record free cash flow, positive net income, and rising market share highlight strong Q2 performance, with 5% revenue growth year-over-year and robust brick-and-mortar results. Expansion plans remain on track, supported by new debt financing and regulatory tailwinds.