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High Tide (TSE:HITI)
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High Tide (HITI) AI Stock Analysis

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TSE:HITI

High Tide

(NASDAQ:HITI)

Rating:66Neutral
Price Target:
C$4.50
▼(-3.43% Downside)
High Tide's overall stock score is driven by strong financial performance and positive earnings call sentiment, highlighting growth in retail expansion and market share. However, the technical indicators suggest the stock may be overbought, and the negative P/E ratio reflects ongoing profitability challenges.
Positive Factors
Customer Acquisition
The Cabana Club loyalty program has amassed over 1.55 million members, showing strong customer acquisition.
Market Share Growth
The company’s market share increased to 11% and 21% in Ontario and Alberta, respectively, indicating growth in key markets.
Negative Factors
E-commerce Performance
The e-commerce segment saw its revenues decline by approximately 5.9% to C$8.6M, representing less than 7% of consolidated net sales.

High Tide (HITI) vs. iShares MSCI Canada ETF (EWC)

High Tide Business Overview & Revenue Model

Company DescriptionHigh Tide Inc. (HITI) is a prominent retail-focused cannabis company based in Canada, specializing in the sale of cannabis products and accessories. The company operates in the cannabis sector, providing a diverse range of products, including dried flowers, oils, edibles, and various smoking accessories through its retail stores and online platforms. High Tide aims to enhance the customer experience by offering a wide selection of high-quality cannabis products and fostering a community around cannabis culture.
How the Company Makes MoneyHigh Tide generates revenue primarily through its retail operations, which include a network of cannabis dispensaries across Canada, where they sell a variety of cannabis products and accessories. The company also earns money through its e-commerce platform, which allows customers to purchase products online for delivery or in-store pickup. Additionally, High Tide has established partnerships with various cannabis brands and wholesalers, enhancing its product offerings and driving sales. The company may also benefit from additional revenue streams, such as the sale of proprietary products and potential licensing agreements within the cannabis industry.

High Tide Earnings Call Summary

Earnings Call Date:Jun 16, 2025
(Q2-2025)
|
% Change Since: 54.82%|
Next Earnings Date:Sep 15, 2025
Earnings Call Sentiment Positive
High Tide's earnings call painted a positive picture with strong growth in retail store expansion, market share, and financial performance. The Cabana Club loyalty program is thriving, contributing to overall success. However, challenges persist in the e-commerce segment, and there are potential regulatory hurdles in Germany. Despite these challenges, the company's core business remains robust, and the sentiment is optimistic.
Q2-2025 Updates
Positive Updates
Expansion and Growth in Retail Stores
High Tide opened its 200th Canna Cabana location, marking a significant milestone. The company has increased its store count in Alberta by 10% year-over-year while the rest of the industry contracted by 6%. In Ontario, High Tide expanded its footprint by 30% over the past 12 months, while the rest of the industry shrank by 1%.
Strong Financial Performance and Market Share Gains
Trailing 12-month revenue surpassed $550 million for the first time, with bricks-and-mortar revenue up 16% year-over-year. Same-store sales increased by 6.2% year-over-year, and market share climbed from 11% to 12%.
Cabana Club Loyalty Program Success
The Cabana Club membership base reached 1.9 million across Canada, up 33% year-over-year. The ELITE paid membership tier grew by 120% year-over-year to 97,000 members.
Financial Strength and Cash Flow
The company generated $4.9 million in free cash flow in Q2 and reported a consolidated adjusted EBITDA of $8.1 million, up 14% sequentially.
Negative Updates
E-commerce Segment Challenges
The e-commerce segment, representing 3% of consolidated revenue, is struggling to reach EBITDA neutral, posing a challenge despite having strategic value.
Regulatory Challenges in Germany
Potential changes in German cannabis regulations following the election could impact High Tide's strategy, including tightening rules around e-prescribing.
Cannabis Pricing Pressures
While not a current issue, there is concern about the potential impact of substantial increases in cannabis prices across Canada on the business.
Company Guidance
During the High Tide Inc. second quarter 2025 financial results conference call, the company highlighted several key metrics and strategic initiatives. High Tide reported a record revenue of $137.8 million for Q2, marking an 11% increase year-over-year, despite a 3% sequential decline due to fewer days in the quarter. The company's bricks-and-mortar segment experienced a robust 16% growth year-over-year, driven by strong same-store sales and the addition of new stores. Notably, daily same-store sales increased by 6.2% year-over-year, the fastest rate in five quarters. High Tide's Canna Cabana brand reached a milestone with the opening of its 200th store, contributing to a total of 82 stores in Ontario and 87 in Alberta, with plans to expand further. The company's Cabana Club loyalty program saw significant growth, with membership rising 33% year-over-year to 1.9 million members. High Tide also reported a market share gain, climbing to 12% in provinces where it operates. Furthermore, the company achieved $1.4 million in sales from its Queen of Bud brand, reflecting strong demand for its White Label SKUs. Despite challenges in the e-commerce segment, which represents only 3% of consolidated revenue, the company remains committed to maximizing shareholder value across all business units.

High Tide Financial Statement Overview

Summary
High Tide shows strong revenue growth and improving operational efficiency, though profitability remains a challenge with negative net income. The balance sheet is stable with moderate leverage, and cash flows are robust, supporting business operations.
Income Statement
72
Positive
High Tide shows a strong revenue growth trend with a 54.2% increase from 2023 to 2024 and further growth in the TTM period. Gross profit margin has remained stable around 25-27% over recent periods. However, net profit margin is negative, indicating ongoing losses, though these have been narrowing. The EBIT and EBITDA margins have shown improvement, moving from negative to positive in the TTM period, suggesting progress in operational efficiency.
Balance Sheet
68
Positive
The company maintains a solid equity base with an equity ratio around 60%, indicating financial stability. However, the debt-to-equity ratio is moderate, reflecting a balanced but leveraged capital structure. Return on equity remains negative due to net losses, but the narrowing losses suggest potential improvement. The overall balance sheet position is stable, with a consistent level of assets and equity.
Cash Flow
70
Positive
High Tide's cash flow from operations has been positive and growing, which is a strong indicator of financial health. The free cash flow has also shown growth, with a significant positive shift in the TTM period. Ratios of cash flow to net income are favorable, indicating good cash generation relative to earnings, despite the negative net income figures.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue522.31M487.67M356.85M181.12M83.27M
Gross Profit142.50M131.31M100.95M63.98M30.81M
EBITDA33.78M-4.20M-33.65M-1.96M8.54M
Net Income-4.34M-39.31M-70.85M-35.04M-6.35M
Balance Sheet
Total Assets246.21M233.40M274.74M246.22M69.81M
Cash, Cash Equivalents and Short-Term Investments47.98M30.26M25.28M14.87M7.57M
Total Debt74.61M72.53M69.88M55.43M46.97M
Total Liabilities100.70M99.73M112.71M94.21M58.09M
Stockholders Equity143.27M131.56M156.35M147.21M10.17M
Cash Flow
Free Cash Flow25.80M14.58M-4.56M-13.54M6.08M
Operating Cash Flow35.55M20.66M4.50M-2.83M8.85M
Investing Cash Flow-11.01M-5.72M-8.59M-28.49M-3.30M
Financing Cash Flow-7.72M-9.26M15.17M37.81M1.17M

High Tide Technical Analysis

Technical Analysis Sentiment
Positive
Last Price4.66
Price Trends
50DMA
3.26
Positive
100DMA
3.18
Positive
200DMA
3.58
Positive
Market Momentum
MACD
0.29
Negative
RSI
85.92
Negative
STOCH
96.30
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HITI, the sentiment is Positive. The current price of 4.66 is above the 20-day moving average (MA) of 3.40, above the 50-day MA of 3.26, and above the 200-day MA of 3.58, indicating a bullish trend. The MACD of 0.29 indicates Negative momentum. The RSI at 85.92 is Negative, neither overbought nor oversold. The STOCH value of 96.30 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:HITI.

High Tide Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
66
Neutral
$279.82M69.001.86%38.86%
66
Neutral
$344.40M-6.82%9.22%73.50%
58
Neutral
C$31.56M-19.58%17.74%37.61%
54
Neutral
C$439.97M-45.36%-12.25%-47.36%
52
Neutral
$371.47M105.83-0.70%28.42%48.33%
52
Neutral
C$26.48M366.78%-39.00%-11.21%
51
Neutral
$7.77B-0.12-39.78%2.21%22.68%-1.42%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:HITI
High Tide
4.67
2.07
79.42%
TSE:ACB
Aurora Cannabis
6.67
-2.14
-24.29%
TSE:LABS
MediPharm Labs
0.08
<0.01
7.14%
TSE:OGI
OrganiGram Holdings
2.17
-0.54
-19.93%
TSE:TSND
TerrAscend Corp
1.38
-0.60
-30.30%
TSE:ADK
Diagnos
0.25
-0.07
-21.88%

High Tide Corporate Events

M&A TransactionsBusiness Operations and Strategy
High Tide Expands into German Medical Cannabis Market with Remexian Acquisition
Positive
Aug 14, 2025

High Tide Inc. is expanding into the German medical cannabis market by acquiring a 51% stake in Remexian Pharma GmbH, a leading pharmaceutical company in Germany known for its importation and wholesale of medical cannabis. This strategic acquisition, valued at approximately €27.2 million, positions High Tide to leverage its Canadian procurement expertise to increase the Canadian share of medical cannabis imports into Germany. With the German medical cannabis market rapidly growing, this move is expected to significantly strengthen High Tide’s financials and establish a strong foothold in Germany, serving as a springboard into other European markets. The acquisition aligns with High Tide’s goal to provide high-quality medical cannabis at affordable prices, enhancing its industry positioning and offering growth opportunities for stakeholders.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Executive/Board ChangesPrivate Placements and FinancingBusiness Operations and Strategy
High Tide Announces Strategic Updates and Financing Flexibility
Positive
Aug 12, 2025

High Tide Inc. has announced several corporate updates, including progress on a major transaction with a German medical cannabis importer, which is expected to significantly advance its global growth strategy. Additionally, the company has appointed Sri Pavithra Priyalakshmi as Vice President of Digital and eCommerce to drive its digital initiatives, and it will participate in the Canaccord Genuity’s 45th Annual Growth Conference. Furthermore, High Tide has filed a final base shelf prospectus to enable flexible financing opportunities, allowing the company to raise up to C$100 million over the next 25 months, which will support its corporate growth and expansion plans.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
High Tide Expands with New Canna Cabana Store in Alberta
Positive
Jul 31, 2025

High Tide Inc. has opened a new Canna Cabana retail store in Drayton Valley, Alberta, marking its 203rd location in Canada. This expansion is part of High Tide’s strategy to deepen its presence in high-demand markets, with the Drayton Valley store strategically positioned to capitalize on the area’s growing economy. The company also announced the grant of stock options to employees, reflecting its commitment to growth and employee engagement.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
High Tide Reaches Loyalty Milestones and Prepares for Future Growth
Positive
Jul 28, 2025

High Tide has achieved significant milestones by surpassing 2 million members in its Cabana Club loyalty program and over 104,000 members in its ELITE tier, reinforcing its position as a leader in the Canadian cannabis retail market. Additionally, the company filed a preliminary base shelf prospectus to provide flexibility for future financing opportunities, allowing for potential issuance of securities up to C$100 million, which could support corporate growth and expansion.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
High Tide Secures $30 Million Investment from Cronos Group
Positive
Jul 16, 2025

High Tide Inc. has secured a $30 million convertible debt agreement with a subsidiary of Cronos Group Inc. to fund future acquisitions and organic growth, aiming to expand its store network in Canada and internationally. This investment highlights High Tide’s strong market position and its role in enhancing the legal cannabis ecosystem, potentially benefiting stakeholders by reducing illicit market share and supporting a competitive retail environment.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
High Tide Expands Canna Cabana Network with New Stores in Winnipeg and Toronto
Positive
Jun 27, 2025

High Tide Inc. announced the opening of two new Canna Cabana retail locations in Winnipeg and Toronto, expanding its footprint to 202 stores across Canada. The Winnipeg store, located in a high-traffic area with limited competition, and the Toronto store, situated in a bustling mixed-use mall, are expected to enhance the company’s market presence in these high-potential provinces. The expansion aligns with High Tide’s strategy to reinvest cash flows into growth, leveraging its successful discount club model and loyalty ecosystem. The company’s CEO highlighted the support from Manitoba’s government in maintaining a responsible cannabis retail environment.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
High Tide Launches ‘Buy Local’ Initiative in Canna Cabana Stores
Positive
Jun 23, 2025

High Tide Inc. announced a new ‘Buy Local’ initiative to be launched in its Canna Cabana stores across Canada, starting June 24, 2025. This initiative aims to promote locally grown and produced cannabis products by providing dedicated shelf space for them in each store. The move is designed to support local producers and offer customers more choices, potentially enhancing High Tide’s community engagement and market positioning.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
High Tide Reports Strong Q2 2025 Results and Eyes German Market Expansion
Positive
Jun 16, 2025

High Tide Inc. reported strong financial results for the second fiscal quarter of 2025, generating $4.9 million in free cash flow and achieving a 6.2% year-over-year increase in daily same-store sales across its Canna Cabana network. The company is in exclusive discussions with a leading German medical cannabis importer and wholesaler, marking a strategic move towards entering the German market. High Tide’s Cabana Club membership has grown to 1.9 million members, with its ELITE memberships surpassing 97,000. The company continues to expand its product offerings and maintains its position as the highest revenue-generating cannabis company reporting in Canadian dollars. This growth and strategic expansion into the German market highlight High Tide’s strengthening position in the global cannabis industry.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Financial Disclosures
High Tide to Release Q2 2025 Financial Results and Host Webcast
Neutral
Jun 2, 2025

High Tide Inc. announced it will release its financial and operational results for the second fiscal quarter of 2025 on June 16, 2025. Following the release, a webcast will be hosted by the company’s CEO and CFO to discuss the results and future outlook. This announcement is significant for stakeholders as it provides insights into the company’s performance and strategic direction in the competitive cannabis industry.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Shareholder MeetingsBusiness Operations and Strategy
High Tide Announces Shareholder Meeting Results and Strategic Approvals
Positive
May 30, 2025

High Tide Inc. announced the results of its annual general and special meeting of shareholders, where all nominees for the board of directors were elected, and key resolutions were approved, including the appointment of auditors and a Shareholder Rights Plan. These decisions reflect the company’s strategic direction and governance stability, potentially impacting its market positioning and stakeholder confidence.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
High Tide Celebrates 200th Canna Cabana Store Opening in Alberta
Positive
May 29, 2025

High Tide Inc. has announced the opening of its 200th Canna Cabana retail cannabis store in Sherwood Park, Alberta, marking a significant milestone for the company. This expansion reflects High Tide’s strategic growth approach, focusing on high-traffic locations and sustainable value creation, avoiding the store closures seen in the sector. The company’s growth has been largely self-funded and driven by its loyal customer base, positioning High Tide for continued expansion in the Canadian market.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
High Tide Expands Canna Cabana Footprint with New Stores in Ontario and Alberta
Positive
May 20, 2025

High Tide Inc. has announced the opening of two new Canna Cabana retail cannabis stores in Brantford, Ontario, and Calgary, Alberta, increasing its total store count to 199 across Canada. The Brantford location is strategically positioned in a busy shopping plaza with national co-tenants, while the Calgary store benefits from a lack of nearby competition, offering strong market capture potential. These openings align with High Tide’s strategy to expand its physical presence in promising markets, as the company nears the milestone of 200 locations nationwide.

The most recent analyst rating on (TSE:HITI) stock is a Buy with a C$4.50 price target. To see the full list of analyst forecasts on High Tide stock, see the TSE:HITI Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 19, 2025