Welcome to our dedicated page for High Tide news (Ticker: HITI), a resource for investors and traders seeking the latest updates and insights on High Tide stock.
High Tide Inc. (HITI) maintains its position as Canada's leading vertically integrated cannabis retailer through continuous innovation in retail operations and e-commerce solutions. This news hub provides investors and industry observers with essential updates on corporate developments, financial milestones, and strategic initiatives within the evolving cannabis market.
Access authoritative information about HITI's retail expansions, technology implementations like the Fastendr kiosk system, and quarterly performance metrics. Our curated collection features official press releases covering earnings announcements, partnership agreements, product launches, and regulatory compliance updates.
Key focus areas include Canna Cabana store network growth, cannabis accessory innovations, and operational efficiency improvements. Users can track the company's progress in enhancing customer experiences through both physical retail locations and digital platforms while monitoring its competitive positioning within North American markets.
Bookmark this page for streamlined access to verified information about High Tide's business strategies, leadership decisions, and market responses. Regular updates ensure you maintain current awareness of developments affecting this dynamic cannabis enterprise.
High Tide Inc. (HITI) announced its acquisition of 102105699 Saskatchewan Ltd. for C$2.9 million. This deal includes a portfolio of six retail cannabis locations in Regina, with one operational and five under construction, expected to open by the end of 2021. This acquisition will expand High Tide's footprint in Saskatchewan to ten stores, enhancing its market position. The transaction is subject to approval from the TSX Venture Exchange and the Saskatchewan Liquor and Gaming Authority, and is anticipated to close within 30 days.
High Tide (TSXV: HITI, Nasdaq: HITI) has announced the completion of the acquisition of DHC Supply LLC, operating as Daily High Club, for a total consideration of US$10 million. This includes US$6.75 million valued in High Tide Shares and US$3.25 million in cash. The acquisition, part of High Tide's strategy to expand its online retail capabilities, positions the company to capitalize on potential future U.S. cannabis sales. Harrison Baum joins High Tide as Director of Digital Marketing to enhance global social media efforts.
High Tide has successfully acquired Daily High Club, enhancing its e-commerce presence in the cannabis accessory market. This acquisition adds a significant platform to High Tide's portfolio, featuring 91 million site visits and access to over 15,000 subscription box members. Daily High Club reported net revenue of US$9.4 million and EBITDA of US$1.2 million for the year ending April 2021. The total consideration for the acquisition includes 839,820 High Tide common shares valued at US$6.75 million and US$3.25 million in cash, expected to boost High Tide's revenue run rate in the U.S. to over CAD$50 million.
High Tide Inc. (TSXV: HITI, NASDAQ: HITI) announced the opening of two new Canna Cabana stores in Thunder Bay, Ontario, and Lethbridge, Alberta, increasing its total retail locations to 89 across Canada. Located in high-traffic areas, these stores align with the company's strategy for organic growth in profitable neighborhoods. High Tide aims to expand its operations as pandemic restrictions ease, with additional store openings planned and an emphasis on enhancing its e-commerce presence in the United States.
High Tide reported a 99% increase in revenue for Q2 2021, reaching $40.9 million, compared to $20.6 million in Q2 2020. The gross profit rose 93% to $15.0 million, showcasing a 37% gross profit margin. Adjusted EBITDA was $4.7 million, significantly up from $1.8 million year-over-year. The company’s cash increased to $29.4 million. Expansion efforts include acquiring Smoke Cartel and FABCBD, as well as plans to grow its store count in Ontario. However, net loss reached $12.3 million, indicating challenges remain amidst market disruptions.
High Tide Inc. has announced the acquisition of Daily High Club, a leading e-commerce platform for consumption accessories. This strategic move aims to solidify High Tide's position in the U.S. market, leveraging Daily High Club's 15,000 subscribers and significant social media following. The transaction, valued at US$10 million, includes US$6.75 million in shares and US$3.25 million in cash. Daily High Club generated US$9.4 million in net revenue and US$1.2 million in EBITDA for the year ending April 2021, making this acquisition immediately accretive. High Tide's revenue run rate in the U.S. is now expected to exceed CAD$50 million.
High Tide Inc. (TSXV: HITI, Nasdaq: HITI) announced it will release its financial results for the quarter ended April 30, 2021, after market close on June 28, 2021. These results will be available on SEDAR and the company's website. Following this release, High Tide will host a conference call on June 29, 2021, at 8:30 AM ET, to discuss the financial results and future plans. High Tide is recognized as a leading retail-focused cannabis company in Canada, operating 87 locations across several provinces, and has a strong presence in consumption accessories through its e-commerce platforms.
High Tide Inc. (HITI) announced the conversion of most of its senior secured debt into common shares, facilitating the finalization of a credit facility with a Canadian bank. The company has reduced over $40 million of debt in six months and currently holds $31.6 million total debt, with only $3.8 million due in the next year. Following a $23.6 million equity offering, High Tide's Adjusted EBITDA reached $4.6 million in the latest quarter. Additionally, the company has been included in the AdvisorShares Pure Cannabis ETF (NYSE: YOLO), enhancing visibility among investors.
High Tide Inc. (TSXV: HITI, NASDAQ: HITI) has opened a new Canna Cabana retail store in Calgary, Alberta, marking its 88th location for selling recreational cannabis products and accessories in Canada. This store, located on a high-traffic road, reinforces the company’s position in the Calgary market. CEO Raj Grover emphasized the importance of expanding both their brick-and-mortar and e-commerce operations in North America and Europe. High Tide is recognized as the most profitable Canadian retailer of recreational cannabis based on Adjusted EBITDA.
High Tide Inc. has achieved a significant milestone as the first major publicly traded cannabis retailer to list on the Nasdaq under the ticker symbol HITI. This development is expected to enhance liquidity and attract a broader range of retail and institutional investors globally. The company's strategy focuses on strengthening its integrated value chain, with 87 retail locations across Canada and a portfolio of consumption accessory businesses. High Tide aims to optimize its capital costs and broaden its market appeal through this strategic listing.
