Canada's High Tide Q2 adjusted EBITDA rises 73% on Remexian integration cost gains

High Tide

15/06/2026 21:17

Overview
Canada cannabis retailer's fiscal Q2 revenue rose 30% yr/yr, beating analyst expectations
Adjusted EBITDA for fiscal Q2 up 73% yr/yr, beating analyst expectations
Company posted positive net income, reversing losses from prior periods

Outlook
High Tide plans to open 20-30 new Canadian stores in calendar 2026, mainly through organic growth
Company expects white label brands to reach about 20% of total sales over the long term
High Tide intends to expand into additional European markets in coming quarters

Result Drivers
GERMAN MEDICAL CANNABIS - Remexian subsidiary delivered record revenue and gross margin, with distribution volumes up 49% yr/yr and gross margin more than doubling sequentially
CANADIAN RETAIL PERFORMANCE - Core Canadian bricks-and-mortar business outperformed the broader sector, supported by loyalty program growth and market share gains
COST EFFICIENCIES - Integration of Remexian enabled supply chain improvements and lower procurement costs, supporting margin expansion

Company press release: ID:nCNW7ZmMBa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
C$179.30 mln
C$171.17 mln (5 Analysts)
Q2 Net Income
 
C$24,000
 
Q2 Adjusted EBITDA
Beat
C$13.92 mln
C$10.26 mln (5 Analysts)
Q2 Gross Profit
 
C$48.39 mln
 
Q2 Income From Operations
 
C$6.10 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the drug retailers peer group is "buy"
Wall Street's median 12-month price target for High Tide Inc is C$7.25, about 124.5% above its June 12 closing price of C$3.23
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 18 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)