Once again, our team delivered a record-breaking quarter! Most importantly, Q1 saw us break-even on net income, a major milestone for $HITI and a rarity within the cannabis space, while generating $128.1M in revenue, FCF of $3.6M, and Adjusted EBITDA of $10.4M!
Hi all! I am going to start putting out periodic video updates about our strategy for $HITIF / $HITI as we continue to grow our business in Canada, the United States and Europe. Feel free to send suggestions about topics. I will try my best to get to all of them over time!
Today
@HighTide_HITI
announced that we have been approved for listing on
@Nasdaq
with shares to start trading June 2. Iโm so grateful to everyone who supported us on this journey since we started the company in 2009. This is just the start. The best is yet to come for $HITI!
Thrilled to announce that
@HighTide_HITI
just reported its most profitable quarter on record with adjusted EBITDA of $4.6 mil in Q1 2021, 179% year over year โฌ๏ธ in revenue to $38.3 mil, and a 208% year over year โฌ๏ธ in gross profit to $14.8 mil. $HITI $HITIF
I've been busy building a business since 2009 so forgot to get on the Twitter bandwagon. I'm finally here! Anyone know how this thing works? What the heck is a hashtag?
Today I let the market know
@HighTide_HITI
has further strengthened its balance sheet by eliminating $20 million debt. I also made it clear that we are open for business + aggressively pursuing acquisition opportunities to enhance shareholder value. $HITIF
Today we closed our $23 million oversubscribed bought deal equity financing adding more juice to our
@HighTide_HITI
strategy that includes more stores + strategic acquisitions. Thanks to
@EchelonWealth
, ATB Capital and all other syndicate members! $HITIF
I shared thoughts on $HITIF U.S. plans with
@BNNBloomberg
. We are exploring multiple opps to expand our accessories + CBD e-commerce footprint in the short run + are just 1 acquisition away from bricks + mortar retail as the legislative landscape evolves.
Big thanks to our investor and banker partners for their support! We now have another $23MM in firepower to fuel further growth
@HighTide_HITI
We will keep you posted on news relating to our Nasdaq listing - which we expect shortly.
$HITI $HITID
Thrilled to welcome the โฆ
@SmokeCartel
โฉ team to our family! โฆ
@HighTide_HITI
โฉ now operates the two largest consumption accessories e-commerce platforms in the world. $HITI $HITIF: High Tide Acquires Leading E-commerce Retailer Smoke Cartel
Just FYI. As we at
@HighTide_HITI
are currently in a restricted period due to our bought deal financing we have been quieter than usual over the past few days. Donโt worry we will be back soon. In the meantime I hope everyone is able to enjoy a restful and safe long weekend!
So proud of our team. With their help we have launched 8 new stores this month alone. March has seen the most organic
@HighTide_HITI
store openings since inception! $HITI $HITIF
Super Excited Today, as we reported $4.1M in Positive Free Cash Flow for the quarter, Best in $HITIโs history & five months ahead of schedule. Plus Record Revenue & EBITDA for the 4th straight quarter & $500M in annual sales run-rate as of today. The Tide is Rising! ๐
High Tide Reports Third Quarter 2023 Financial Results Featuring Positive Free Cash Flow of $4.1 Million and Fourth Consecutive Quarter of Record Revenue and Adjusted EBITDA of $124.4 Million and $10.2 Million, Respectively $HITI
For some time now I have been saying that
@HighTide_HITI
U.S. expansion doesn't hinge on legislative change.ย There is plenty of opportunity through what is already federally permissible.ย In this context, I could not be more thrilled to announce the acquisition of FABCBD! $HITIF
Just over two decades ago I left everything I knew to start a new life in Canada. This country gave me my wife, my kids and the opportunities to create and grow a successful business. These are just some of the reasons why I am so proud to call myself a Canadian.
Today, if you were to take the U.S. revenue reported for our fourth fiscal quarter and add Smoke Cartel, it translates to a run rate of about $25 million. Expanding in the U.S. is a key component of our strategy going forward. $HITI $HITIF
Thrilled to have just walked analysts and shareholders through the details of the strongest quarter in $HITIF / $HITI history! Together we are building something special.
So proud of our team that despite facing immense challenges related to pandemic shutdowns in Canada, delivered yet another record breaking quarter with $4.7 million adjusted EBITDA compared to $1.8 million for the same quarter last year! $HITI
I want to say a special thank you to all of our shareholders for their unwavering support throughout 2020. We can't do what we do without you and will continue looking to enhance value for you in 2021! $HITI $HITIF
While I am extremely proud of our results for the quarter, the reality is, our company has been truly transformed on almost every level since then. We are a larger, stronger, healthier company than we were just a handful of months ago โ which makes me so excited for the future.
From an EBITDA perspective this was the strongest quarter ever generated by a Canadian cannabis retailer โ and was also above the highest analystsโ expectations. $HITI $HITIF
The announced share consolidation, coupled with other recent progress in our application, gives us confidence that we remain on course to meet the listing standards and begin trading on Nasdaq by the end of this month. $HITI $HITIF
Just a reminder that I will be taking questions as part of a
@thecannalysts
AMA tomorrow from 6-7:30pm EST. Please take a moment to post any questions about $HITI / $HITIF that you may have here:
Six months ago, our last reported trailing revenue was $54 million and EBITDA was negative $8 million. Today we just reported revenue of $83 million for fiscal 2020 and adjusted EBITDA of positive $8 million. $HITI $HITIF
I'm very proud of our team's efforts this quarter which resulted in revenue increasing by 99% over last year and 18 percent sequentially. This is the second consecutive quarter of 99% revenue growth. Q3 2021 was also our sixth consecutive quarter of positive adjusted EBITDA.
High Tide Reports Third Quarter 2021 Financial Results Featuring a 99% Increase in Revenue and Sixth Consecutive Quarter of Positive Adjusted EBITDA $HITI
Just FYI, as we are currently in a restricted period due to our bought deal financing, I have unfortunately had to cancel public engagements such as todayโs Echelon virtual conference, as well as an AMA with
@thecannalysts
. Look forward to getting out there once the deal closes!
Today $HITI closed the acquisition of
@DailyHighClub
! Their 15,000 subscription box members, almost 800k Instagram + over 75k TikTok followers cement us as the leader in the U.S. e-commerce marketplace for consumption accessories.
Tomorrow on
#BofCLive
@RajGrover_HITI
of
@HighTide_HITI
will be with us to talk about his growth strategy, managing the rapid expansion to 80+ stores and what the US might look like in the not-too-distant future.
Join us at 10 am Eastern:
$HITI
Today, $HITI reported the second highest quarterly revenue figure ever by a cannabis company reporting in CAD dollars. We are now up there with the larger players in terms of scale of our operation - plus 8 straight quarters of positive EBITDA!
High Tide Reports Q1 2022 Financial Results Featuring Record Revenue of $72 Million, Increasing 34% Sequentially, and Adjusted EBITDA of $3 Million, Representing an 80% Sequential Increase | Business Wire $HITI
I acknowledge that it has been an incredibly trying week for shareholders. FYI - We are not aware of any material, undisclosed information related to the Company's operations and affairs that would account for the recent decrease in the market price of our shares. $HITI
Thrilled to add another top e-commerce platform to our portfolio which already includes 3 of the top 5 most popular e-commerce platforms for consumption accessories + totalled almost 100 million site visits across all platforms in 2020, including 2.5 million from
@DankStop
$HITI
Iโm so moved by all the welcoming comments and the positive energy. Thank you all. Iโve got a great team and together I know we will keep doing great things in 2021 and beyond!
Huge thanks to our $HITI team for delivering stellar 2021 results. Given the success of our discount club model, exponential growth in our loyalty program and our rapid international expansion we project over $70 million in sales for Q1 2022. The best is yet to come!
Super excited about the recent developments in Germany - Europeโs most lucrative market. Iโm confident our German friends would love our
@CannaCabana_
vibe! $HITI
Today, $HITI reported 81M in revenue and 9th straight quarter of positive adjusted EBITDA including SSS increasing 23% sequentially. We are now on an annual revenue run rate trajectory of $~325M and growing!
High Tide Reports Second Quarter 2022 Financial Results Featuring a 98% Increase in Revenue and Ninth Straight Quarter of Positive Adjusted EBITDA $HITI
Itโs been a tough year for many in the cannabis sector but our small yet mighty team keeps executing. As a result $HITI has become the top revenue generating cannabis company reporting in ๐จ๐ฆ dollars!
Exciting news coming out of the U.S. today! We are monitoring progress of the proposed bill and will be ready to start bricks and mortar U.S. sales when federally permissible. In the meantime our existing e-commerce platforms will continue to grow in the U.S. and beyond! $HITI
I am humbled that our team has delivered another strong quarter featuring 98% increase in revenue to $95M + our 10th straight quarter of positive adjusted EBITDA. $HITI is now within striking distance of having the highest revenue of any cannabis company reporting in Canadian $.
High Tide Reports Third Quarter 2022 Financial Results Featuring a 98% Increase in Revenue and Tenth Straight Quarter of Positive Adjusted EBITDA | Business Wire $HITI
Iโm so thrilled to have finalized our non-dilutive credit line with ATB today. We now have the firepower to continue to pursue quality EBITDA arbitrage opportunities with minimal dilution to our existing shareholders. Big win for $HITI!
Join us Wednesday for our monthly Cannabis Retail Series.
Our monthly feature where we check in with a retailer, we'll connect with
@RajGrover_HITI
of
@HighTide_HITI
to talk about their approach to cannabis retail in Canada (and beyond).
Join us:
$HITI
Super excited to start 2022 with a bang as $HITI acquires Budroomโs Fastendr technology. This tech will reduce retail overhead + labour costs, improve customer experience + open new revenue generation + data monetization opps for us by licensing it to cannabis retailers across NA
Iโm very proud that our $HITI team has donated $20,000 to the charitable arm of the
@ukrcancongress
. This donation will support humanitarian aid including medical kits, shelter, and food. Others who wish to help out can do so here:
#IStandWithUkriane
Ask Me Anything Mergers & Acquisition Program continues:
$HITI CEO is rescheduled to Wed March 10
@HighTide_HITI
And we are pleased to announce $HEXO CFO for Wed March 24 to chat about their $ZENA acquisition & January 2021 results.
@Hexocorp
Meaningful investor engagement
Q4 saw
@hightide_HITI
deliver a record FCF of 5.7M (up 40% vs Q3) for the 2nd straight quarter while expanding our ELITE membership to over 28k (up 49% from Sept 2023).ย With a run rate approaching $510M and a cash balance over $30M I know the best is ahead for $HITI!
High Tide Releases Audited 2023 Financial Results Featuring Record Fourth Quarter Revenue of $127.1 Million, Record Adjusted EBITDA of $8.4 Million and Record Free Cash Flow of $5.7 Million, Respectively $HITI
Iโm thrilled to announce Nuleafโs addition into the $HITI portfolio. Nuleafโs production capabilities through its cGMP-certified facility and an advanced product line ย which includes their Multicannabinoid vegan softgels will result in fantastic synergies across our ecosystem.
Very pleased to announce our acquisition of
@blessedCBD
today - Industry leading margins, excellent management team, one of the most popular CBD brands in the UK!
Exciting! $HITI $Blessed
After 3 long years our team has persevered and secured provincial approval for
@CannaCabana_
to operate in BC, Canadaโs third largest province! BC here we come! $HITI
A few weeks ago I said Iโd be posting video updates on High Tide + asked for Qโs you would like answered. For the 1st video I talk about our acquisition of FABCBD, our Nasdaq application, COVID lockdowns, + our rollout of drop shipping tech. $HITI $HITIF
As many of you know we missed the filing deadline for Q4 financials. These have now been posted to SEDAR. Although the delay was due to personnel shortages, Iโve never been one for excuses, and will ensure that systems are in place to prevent this in the future.
High Tide Announces Filing of its 2021 Audited Annual Financial Statements, Confirming the 118% Increase in Revenue and Adjusted EBITDA of $12.5 Million $HITI
On this
#DogeDay420
Iโm thinking back to Vegas 4 years ago when we at
@HighTide_HITI
hosted
@ThatKevinSmith
aka โSilent Bobโ!Celebrations this year will be different than in the past but letโs have some positive energy. Stay safe and stay happy all!
๐ฉ๐ช is now the largest country to legalize cannabis. Today marks pillar 1 in its strategy with further legislation re sales in cannabis specialty shops coming, pending EU approval. ย I look forward to planting the $HITI flag in Europeโs largest economy as soon as possible!
T minus 60 minutes to my
@thecannalysts
AMA. Please follow along at the link below. Questions will be open again on the sub Reddit from 6-7:30pm EST. $HITI $HITIF
As the CEO of a company that is Canadaโs largest non franchised cannabis retailer and also has significant e-commerce assets in the United States, I see today's announcement from
@POTUS
as a potential game changer.
As I have said before, expanding our business into the U.S with accretive acquisitions is a major part of our business strategy.
@DankStop
will bolster our access to online customers helping us be ready to begin e-commerce cannabis sales when allowed. $HITI
Very proud of our Q4 & FYโ22 results as we delivered record revenue, record adjusted EBITDA & same store sales growth of 50% YoY, all while continuing to gain market share in Canada by 1% every quarter over the last fiscal year! $HITI
High Tide Releases Audited 2022 Financial Results Featuring Record Fourth Quarter Revenue of $108.2 Million and Record Adjusted EBITDA of $5.0 Million | High Tide Inc. $HITI
When I opened a small store in Calgary I never thought that we would be recognized as one of Canadaโs top growing companies with a 3 year growth rate of 733%! Todayโs recognition from
@globeandmail
is validation of $HITI teamโs continued operational execution.
#TopGrowing21
With a growth rate of 733% over 3 years, $HITI has been included in the โฆโฆ
@globeandmail
โฉ 2021 ranking of Canadaโs Top Growing Companies! This wouldnโt be possible without the support of our customers, team, and shareholders.
#TopGrowing21
Hi all. I'm excited to let you know that I will be doing an AMA with the r/HighTideInc this Wednesday, November 3rd, 2:00 PM MST / 4:00 PM EST. You can post questions now at:
Promise made promise kept. Today we launched the start of our white label products in Sask. This is just the beginning, as we intend to bring our Cabana Cannabis Co. products to market in other provinces including Manitoba and Ontario very soon. $HITI
Iโm very happy to announce the LOI with CF today. Upon closing the proposed $30 million facility, we will effectively be replacing our existing bank line with a larger, less restrictive line - providing a boost to our balance sheet without diluting existing shareholders. $HITI
2021 has been a transformational year for High Tide with exponential retail growth. My sincere thanks to our loyal customers, shareholders and our team members for their unwavering support. The best is yet to come for $HITI!
Very proud to share our Q1 results which are the best ever for $HITI with record rev & adj EBITDA. We have consistently proven we know how to grow, and now our focus is shifting towards becoming free cash flow positive by the end of 2023. Stay tuned on our continued execution!
From generating positive free cash flow, to closing the year as the top revenue-generating cannabis company in Canada, to reducing the balance of our convertible debenture by approx 90%, 2023 has been huge for $HITI! The best is yet to come!
With pillar 1 of Germanyโs cannabis plan poised to pass imminently, legalization is set for April 1. We are actively monitoring the progress of pillar 2 which would allow cannabis specialty shops in pilot regions. We hope to see more details on that soon!
Thrilled that $HITI has picked up 9 of
@choombrand
โs most successful stores giving us a foothold in Vancouver and further expanding our reach in Alberta. Choom is one of the original Canadian retail cannabis brands. Looking forward to welcoming the new team members to our family!
Truly honoured and humbled to receive the Cannabis Person of the Year award at the
@OCannabiz
awards gala last night. Iโm committed to helping our industry promote greater diversity and social responsibility. A huge thanks to everyone that supported me and voted for me. ๐๐๐
Super Excited Today as High Tide Becomes North Americaโs First Cannabis Discount Club Retailer with over 245,000 Members. $HITI
#CannaCabana
#Unbeatable
It was a pleasure to sit down with
@kindmag
to discuss my entrepreneurial journey, $HITIโs newly launched discount club, our recent acquisitions as well as our future e-commerce plans in the U.S. and globally: High Tide Keeps Rising
Imitation is the sincerest form of flattery! Remember the OG membership club is the
#CabanaClub
! First of its kind in North America with 1.32 million members and growing! Itโs only a matter of time before we bring this innovative model to US customers ourselves! $HITI
This is a massive growth opportunity for $HITI as we can continue to amass revenue from the Canadian market over the next three years. Our Long term target is to now have over 300 Cabanas in Canada! ๐๐๐
Thrilled to close our acquisition of
@QueenofBud
. On the eve of German legalization Iโm looking forward to bringing this uniquely curated brand portfolio to Europe! $HITI
Thrilled to wake up this morning and see $HITI claim the top retailer spot on the
@FT
list of fastest growing companies in the Americas for 2023! Itโs such an honour to be included on this prestigious list with companies such as Moderna, DoorDash, Zoom and Peloton!
Thrilled to announce the $HITI entry into the U.S. cannabis seeds market through
@grasscity
+
@SmokeCartel
! This further diversification of our portfolio into a higher margin vertical will strengthen our ability to continue offering unbeatable prices to our Cabana Club members.
As we announced today, the Cabana Club has been growing exponentially, more-than-doubling to over 515k members in under 7 months. We continue to build on the strong performance of our discount club model by growing our presence in strategic markets like the two in todays release.
Excited to report that total $HITI 4/20 sales came in at CAD$1,372,600 across all retail platforms - a 76.21% increase from the prev Wed! As well, our Cabana Club loyalty program now has approx 478K members - an increase of 95.1% since launching our discount club, 6 months ago.
Thrilled to open our 5th CC in Mississauga. This location makes us the largest cannabis retailer in Canadaโs fastest growing city. I look forward to bringing this same momentum to Germany, should the government make good on its intention to roll out retail pilot projects.
Three years in a row as one of Canada's Top Growing Companies on the
@globeandmail
ranking! I am so proud of all that $HITI has accomplished this year, as we rank 38th out of 425 with a 3 year growth of 1,040%. Check out the full list here
Today we announced the start of our
#DeliveryonDemand
service which gives customers a 2 hour delivery guarantee and the ability to select specific delivery windows. Along with our discount club itโs another tool $HITI is deploying to lure business away from the illicit market.
Very Proud of our team as we became the 1st non-franchised Canadian cannabis retailer to reach 100 stores!ย To mark this achievement, I'm committing to enhancing our support for
@worldvisioncan
.ย Thanks to the loyalty of our customers + shareholders the best is yet to come! $HITI
As a company that owns 3 of the worldโs most popular CBD brands, we are encouraged by the steps being taken by
@GovCanHealth
to create a regulatory pathway for non prescription CBD products so that Canadians and their pets can get access to reputable CBD products they can trust.
With this acquisition, $HITI has officially achieved the milestone of 120 retail locations across Canada. We continue to lead our peer group as the largest non-franchised cannabis retailer in the country with more planned growth coming up in the weeks and months ahead.
We are pleased that several months of hard work from all sides for an NDF have come to fruition. We have a binding commitment letter from
@ConnectFirstCU
for $19MM. This will help us accelerate our growth accros Canada, the U.S. and other emerging international markets. $HITI
Thrilled with Albertaโs cannabis red tape reductions announced by
@DaleNally_AB
today. These will take a bite out of the illicit market and help protect jobs. I urge
@JustinTrudeau
to take note + follow Albertaโs lead in working with the cannabis industry.
I applaud Ontario for listening to the cannabis industry and tabling legislation today that would permanently allow legal cannabis retailers to offer home delivery/ curbside services. This will be an important tool towards fighting the illicit market. 1/3
As consolidation picks up steam we have become the acquirer of choice. We will continue to do more accretive M&A while also growing organically to reach our goal of 150 locations by end of this year. $HITI
So thrilled to announce that $HITI was awarded the best Canadian cannabis company of the year at the
#kindwinterfair
last night. This recognition is a direct result of our teams tireless efforts & execution this year. We are not done yet, Infact we are only just getting started.
Iโm so proud of our team for getting $HITI ranked 21st out of 430 on the 2022
@globeandmail
ranking of Canadaโs Top Growing Companies with 3 year growth of 1970%. This is the 2nd year in a row that
@HighTide_HITI
has made this prestigious list!
Happy Earnings Day! While we wait for the close of markets, I'd love to show you Cabanalytics Consumer Insights, a first of it's kind digital publication for ELITE & Cabana Club members. Check it out on !
#CCI
#Innovation
$HITI
Iโm thrilled to share that we have just surpassed 420K members of our Cabana Club. To thank our loyal customers, we have just launched this exciting giveaway. Join the Cabana Club before 4/20 to qualify for this exclusive prize giveaway. $HITI
Iโm excited to complete our debt restructuring, which was a high priority. This provides added flexibility reg future payments, and allows us to allocate more of our existing cash towards acceleration of organic store openings: 15+ premiere locations signed - awaiting build-out!
I couldn't be more excited to hear today's news! Our discount club model has been tried, tested and perfected here in Canada. I am eagerly looking forward to planting our flag in the U.S. through our winning model as soon as the opportunity arises.