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The latest announcement is out from High Tide ( (TSE:HITI) ).
High Tide Inc. reported record annual revenue of $522.3 million for the fiscal year ending October 31, 2024, marking its sixth consecutive quarter of positive free cash flow. The company’s flagship Cabana Club loyalty program expanded significantly, reaching 5.32 million members globally. Notably, High Tide maintained its position as the leading revenue-generating cannabis company in Canada, with significant market shares in Alberta and Ontario. Despite a net loss of $3.8 million for the year, the company showed notable improvement from the previous year’s loss, highlighting a positive trajectory in financial performance. High Tide’s annualized retail sales per square foot surpassed that of top retailers like Wal-Mart and Target, demonstrating strong operational efficiency.
More about High Tide
High Tide Inc. is a prominent player in the cannabis industry, recognized as the highest revenue-generating cannabis company reporting in Canadian dollars. The company operates a significant retail network under the Canna Cabana brand and has a notable market presence in Canada. High Tide’s Cabana Club loyalty program is a key component of its customer engagement strategy.
YTD Price Performance: -12.05%
Average Trading Volume: 762,926
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $235.3M
Find detailed analytics on HITI stock on TipRanks’ Stock Analysis page.
