Canada's High Tide Q1 revenue rises driven by new store openings

High Tide

17/03/2026 20:11

Overview

Canada cannabis retailer's fiscal Q1 revenue rose 25% yr/yr, beating analyst expectations

Adjusted EBITDA for fiscal Q1 beat analyst expectations

Outlook

High Tide expects to open 20-30 new Canna Cabana stores in Canada in 2026

Company expects gross margin improvement in medical cannabis distribution starting Q2 2026

Result Drivers

STORE EXPANSION & LOYALTY GROWTH - Revenue growth driven by new store openings and rapid increase in Cabana Club and ELITE loyalty program membership

INTERNATIONAL SEGMENT - Remexian acquisition boosted international revenue, with German market share rising despite margin pressure from liquidation of older inventory

Company press release: ID:nCNW9vTH6a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
C$178.3 mln
C$173.79 mln (5 Analysts)
Q1 Net Income
-C$352,000
Q1 Adjusted EBITDA
Beat
C$11.4 mln
C$10.99 mln (5 Analysts)
Q1 Gross Profit
C$44.4 mln
Q1 Income From Operations
C$2.37 mln


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 108.3% above its March 16 closing price of C$3.36

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 27 three months ago

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.)