High Tide Inc

High Tide Inc. reported record fiscal third-quarter revenue of C$198.8 million on September 14, up 33% year over year, while operating income rose 133% to C$8.7 million for the quarter ended July 31, 2026. Despite that profit growth, net cash provided by operating activities slipped to C$10.1 million from C$10.7 million a year earlier, as working capital absorbed C$1.8 million compared with a C$2.4 million release a year earlier, an approximately C$4.2 million unfavorable swing. Operating cash flow before changes in non-cash working capital rose 44% to C$11.9 million, and for the first nine months operating cash flow reached C$20.4 million versus C$19.6 million a year earlier. The company opened four Canadian stores and acquired four more during the quarter, and its German medical-cannabis subsidiary Remexian generated C$38.2 million in revenue, up from C$31.6 million sequentially, distributing 10.2 tonnes, a 35% sequential increase. High Tide also reported C$7.0 million in company-defined non-IFRS free cash flow, down from C$7.7 million a year earlier, while quarterly same-store sales at Canna Cabana were flat.

High Tide Inc. has closed its previously announced senior secured credit facilities with Bank of Montreal in the aggregate principal amount of C$40 million. The new facilities consist of a C$25 million committed revolving credit facility with a three-year maturity and a C$15 million committed delayed-draw term loan intended to refinance existing second-lien debentures. A portion of the revolving facility was used to repay the company's outstanding C$6.0 million loan with ConnectFirst Credit Union, with the remaining capacity available for general working capital, permitted acquisitions, and investments. The new credit facilities are secured by substantially all assets of the company and certain subsidiaries and are subject to customary financial and other covenants.

High Tide Inc. reported record second-quarter fiscal 2026 financial results, with revenue increasing 30% year over year to $179.3 million. Gross profit climbed 36% to $48.4 million, and gross margin improved to 27%. Adjusted EBITDA reached a record $13.9 million, up 73% from the prior year, while income from operations rose 554% to $6.1 million. The company also generated $1.5 million in free cash flow and reported positive net income. Additionally, High Tide entered into a definitive agreement to acquire J. Supply Holdings Inc., operating as Northern Helm, in a transaction valued at $7.74 million, which includes four cannabis retail stores in Ontario and is expected to expand the Canna Cabana network to 228 locations nationwide.

High Tide Inc. reported record second-quarter 2026 revenue of C$179.3 million, up from C$137.8 million a year earlier, and narrowed its quarterly net loss to C$0.197 million while achieving a six-month net income of C$1.01 million. The company also secured credit approval for new C$40 million senior secured facilities with Bank of Montreal, comprising a C$25 million revolver and a C$15 million delayed draw term loan, replacing its existing senior facility and second lien debentures. The Canna Cabana store network has surpassed 220 locations, and the new credit lines are intended to support continued expansion and refinancing. The investment narrative projects revenue of C$897.7 million and earnings of C$58.3 million by 2028, implying a fair value estimate of C$7.33 per share.