The earnings call reflects a positive outlook with record-breaking revenue, significant free cash flow growth, successful expansion of the Cabana Club, and strategic international acquisitions. However, challenges such as slow same store sales growth, pressure on gross margins, and increased operating expenses were noted. The Canadian cannabis market remains competitive, with pressures from the illicit market.

Company Guidance

During High Tide, Inc.'s earnings call, the company announced impressive financial results and future guidance. For the fiscal year ending October 31, 2024, the company achieved a record revenue of $522.3 million, representing a 7% increase from 2023. In Q4 alone, revenue reached $138.3 million, up 9% year-over-year, reflecting an annualized run rate of over $550 million. High Tide reported positive free cash flow for six consecutive quarters, totaling $22 million for fiscal 2024, which is a 217% increase compared to the previous year. The company plans to continue its expansion by adding 20 to 30 new stores in 2025. Additionally, the Cabana Club membership increased to 1.72 million in Canada, with a global total of 5.32 million members. High Tide also announced plans to enter the German medical cannabis market through the acquisition of a majority stake in Purecan, which boasts an impressive adjusted EBITDA margin of 29%. Looking ahead, High Tide aims to maintain its growth trajectory, remain free cash flow positive, and expand its market share both domestically and internationally.

Record-Breaking Revenue and Growth

Revenue for the year reached an all-time high of $522.3 million, up 7% compared to fiscal 2023. Q4 revenue was $138.3 million, up 9% year-over-year, with an annualized run rate exceeding $550 million.

Free Cash Flow Success

High Tide delivered positive free cash flow for six consecutive quarters, generating $22 million in fiscal 2024, an increase of 217% over fiscal 2023.

Cabana Club Expansion

Cabana Club membership reached 1.72 million in Canada, 34% growth year-over-year. Global membership is now 5.32 million, with 3.6 million in the US and EU.

Strategic Acquisition in Germany

High Tide acquired a majority stake in Purecan, a profitable German medical cannabis importer, with impressive adjusted EBITDA margins of 29%.

Canadian Market Share Increase

Market share in five Canadian provinces averaged 11% during fiscal Q4, up from 10% the previous year, despite operating only 5% of the store count.

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High Tide (HITI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HITI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 14, 2025	2025 (Q1)	-0.02 / -	0	―	―	―
Jan 29, 2025	2024 (Q4)	-0.01 / -0.04	-0.275	84.62% (+0.23)	―
Sep 16, 2024	2024 (Q3)	>-0.01 / <0.01	-0.028	125.00% (+0.04)	―
Jun 13, 2024	2024 (Q2)	-0.01 / 0.00	-0.014	―	―
Mar 15, 2024	2024 (Q1)	-0.03 / 0.00	-0.035	―	―
Jan 29, 2024	2023 (Q4)	-0.27 / -0.27	-0.599	54.12% (+0.32)	―
Sep 14, 2023	2023 (Q3)	-0.03 / -0.03	-0.035	20.00% (<+0.01)	―
Jun 14, 2023	2023 (Q2)	-0.04 / -0.01	-0.099	85.71% (+0.08)	―
Mar 17, 2023	2023 (Q1)	-0.05 / -0.04	-0.099	64.29% (+0.06)	―
Jan 30, 2023	2022 (Q4)	-0.05 / -0.60	-0.063	-844.44% (-0.54)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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HITI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 29, 2025	$2.96	$2.72	-8.11%
Sep 16, 2024	$2.19	$2.14	-2.28%
Jun 13, 2024	$2.56	$2.46	-3.91%
Mar 15, 2024	$1.82	$1.72	-5.49%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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