Canada's High Tide Q3 revenue jumps 33% on growth in Canada, Germany

High Tide

14/09/2026 21:12

Overview
Canada cannabis retailer's fiscal Q3 revenue rose 33% yr/yr, beating analyst expectations
Adjusted EBITDA for fiscal Q3 set a record and beat analyst expectations
Company attributes results to operating leverage and growth in Canada and Germany

Outlook
High Tide reiterates long-term goal of surpassing 350 Canadian locations and opening 20+ in 2026
Company anticipates significant long-term growth in white label cannabis portfolio and loyalty programs
High Tide expects to sustain or grow share of German medical cannabis market, monitoring U.S. regulatory changes

Result Drivers
CANADA RETAIL EXPANSION - Co said growth in Canna Cabana store count and increased market share contributed to record revenue
GERMAN MEDICAL CANNABIS - Record distribution volumes and revenue at Remexian subsidiary in Germany drove results
OPERATIONAL EFFICIENCY - Lower operating expenses as a percentage of revenue supported margin improvement

Company press release: ID:nPnQ5C15a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
C$198.82 mln
C$189.80 mln (6 Analysts)
Q3 EPS
 
C$0.12
 
Q3 Net Income
 
C$12.75 mln
 
Q3 Adjusted EBITDA
Beat
C$16.23 mln
C$14.85 mln (5 Analysts)
Q3 Basic EPS
 
C$0.13
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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$7.00, about 100.6% above its September 11 closing price of C$3.49
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 25 three months ago

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Sept 13 - Canadian boycott of US products pushes grocers to adapt, explore new supply sources

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)