High Tide reported strong growth in its bricks-and-mortar segment, significant market share gains, and successful expansion of its Cabana Club loyalty program and White Label products. However, challenges remain in the e-commerce segment, and there are uncertainties related to the regulatory environment in Germany.

Company Guidance -

Q3 2025

During the High Tide Second Quarter 2025 Financial Results Conference Call, the company provided several key metrics and updates regarding their performance and strategy. High Tide reported a revenue of $137.8 million for Q2, marking an 11% year-over-year increase, driven by strong same-store sales and the addition of more stores. The company's Canna Cabana brand achieved a milestone with the opening of its 200th store, reinforcing its position as the largest cannabis retail brand in Canada. Their same-store sales grew by 6.2% year-over-year, and they experienced a market share increase to 12% in the provinces they operate. The Cabana Club loyalty program reached 1.9 million members, a 33% increase year-over-year. High Tide also highlighted a robust pipeline of over a dozen stores under construction, with plans to surpass 300 stores nationwide. The company achieved an adjusted EBITDA of $8.1 million, up 14% sequentially, despite challenges in their e-commerce segment, which only contributed 3% to their consolidated revenue. Additionally, High Tide's bricks-and-mortar business reported a 16% year-over-year revenue growth, and the company generated $4.9 million in free cash flow in Q2.

Expansion Milestone: 200th Canna Cabana Store

High Tide announced the opening of its 200th Canna Cabana location in Sherwood Park, Alberta, marking a significant expansion milestone.

Same-Store Sales Growth

Same-store sales increased by 6.2% year-over-year, the fastest rate in five quarters, with a remarkable 132% increase from October 2021 to March 2025.

Market Share Increase

High Tide's market share climbed to 12% in provinces where they operate, up from 11%, despite representing only 6% of the total store count in these areas.

Strong Financial Performance

High Tide reported a trailing revenue of more than $550 million, with bricks-and-mortar revenue up 16% year-over-year.

Cabana Club Membership Growth

The Cabana Club loyalty program reached 1.9 million members across Canada, up 33% year-over-year, with the ELITE tier growing 120% year-over-year.

Queen of Bud Brand Success

Cumulative sales of the Queen of Bud brand reached $1.4 million, with a significant increase in availability and sales of White Label products.

High Tide (TSE:HITI) Earnings, Revenues Date & History

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TSE:HITI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 10, 2025	2025 (Q3)	>-0.01 / -	0.01	―	―	―
Jun 16, 2025	2025 (Q2)	-0.04 / -0.04	0	―	―
Mar 17, 2025	2025 (Q1)	-0.03 / -0.03	0	―	―
Jan 29, 2025	2024 (Q4)	-0.02 / -0.06	-0.39	84.62% (+0.33)	―
Sep 16, 2024	2024 (Q3)	-0.01 / 0.01	-0.04	125.00% (+0.05)	―
Jun 13, 2024	2024 (Q2)	-0.02 / 0.00	-0.02	―	―
Mar 15, 2024	2024 (Q1)	-0.04 / 0.00	-0.05	―	―
Jan 29, 2024	2023 (Q4)	-0.39 / -0.39	-0.85	54.12% (+0.46)	―
Sep 14, 2023	2023 (Q3)	-0.05 / -0.04	-0.05	20.00% (+0.01)	―
Jun 14, 2023	2023 (Q2)	-0.05 / -0.02	-0.14	85.71% (+0.12)	―

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.

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Missed

TSE:HITI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 16, 2025	C$3.01	C$3.07	+1.99%
Mar 17, 2025	C$3.45	C$2.98	-13.62%
Jan 29, 2025	C$4.25	C$3.96	-6.82%
Sep 16, 2024	C$2.97	C$2.89	-2.69%

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.