CALGARY, AB, June 26, 2024 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that it has entered into a definitive asset purchase agreement dated June 25, 2024 (the "Purchase Agreement") pursuant to which High Tide will acquire a retail cannabis store in Mississauga, Ontario, currently operating as Cantopia for $600,000 (the "Tra ...

Core Insights - High Tide Inc. is expanding its retail footprint with the opening of its 173rd Canna Cabana location in Calgary, Alberta, which will start selling recreational cannabis products on June 21, 2024 [1][9] - The new store is strategically located in a high-traffic area, benefiting from residential traffic and proximity to a major shopping center [8] - The company aims to add 20 to 30 new stores in 2024, focusing on taking over existing cannabis retail locations to reduce build-out costs [11] Retail Operations - Canna Cabana is the largest non-franchised cannabis retail chain in Canada, with 173 locations across multiple provinces [10] - The company has established a discount club model, becoming the first cannabis discount club retailer in North America in 2021 [10] - High Tide operates a suite of e-commerce platforms and accessory sites globally, enhancing its retail presence [2] Market Position - High Tide is the second-largest cannabis retailer in North America by store count, with a diversified and fully integrated operation across all components of cannabis [12] - The company has been recognized as one of Canada's Top Growing Companies for three consecutive years and ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023 [14]

High Tide's Q2 report showed a year-over-year revenue increase of 5.2% into 124.3 million CAD, missing the estimated 127.5 million CAD by a couple of percentage points. The sales declined quarter-over-quarter due to the industry's seasonal weakness in especially February. The adjusted EPS came in at $0.00 compared to estimates of a normalized $0.02. In my previous article, I highlighted the importance of improved margins. The quarter came after High Tide showed a great margin improvement in Q4 and Q1, as th ...

This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this company would post a loss of $0.03 per share when it actually produced break-even earnings, delivering a surprise of 100%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings c ...

Exhibit 99.1 Condensed Interim Consolidated Financial Statements For the three and six months ended April 30, 2024 and 2023 (Stated in thousands of Canadian dollars, except share and per share amounts) (Unaudited) High Tide Inc. Condensed Interim Consolidated Financial Statements For the three and six months ended April 30, 2024 and 2023 Condensed Interim Consolidated Financial Statements for the three and six months ended April 30, 2024 and 2023. The accompanying unaudited condensed interim consolidated fi ...

Core Insights - High Tide has been recognized as one of Canada's Top Growing Companies for three consecutive years and is ranked among the top-performing diversified industry stocks [1][10] - The company remains the largest non-franchised cannabis retailer in Canada and the second largest globally by store count, with 172 operating locations [5][25] - High Tide generated $9.4 million in positive free cash flow in the second fiscal quarter of 2024, totaling $22.7 million over the past four quarters, representing a trailing free cash flow yield of over 8% [5][20] - The company reported a positive net income of $0.2 million in Q2 2024, a significant improvement from a net loss of $1.6 million in the same period last year [7][19] - High Tide's revenue for Q2 2024 reached $124.3 million, a 5% increase year-over-year, with gross profit rising to $35.3 million, marking a 12% increase [19][20] Financial Highlights - Adjusted EBITDA for Q2 2024 was $10.0 million, a 52% increase year-over-year, with an adjusted EBITDA margin of 8.1% [19][20] - The company achieved a gross profit margin of 28.4%, the highest in the past nine quarters [19] - Cash on hand as of April 30, 2024, was $34.5 million, an increase of 54% year-over-year [7][20] Market Position and Growth Strategy - High Tide's market share in the provinces where it operates rose to 10.9%, up from 9.9% year-over-year, while only representing 4.8% of the total cannabis retail store count [26] - The company aims to achieve a 15% market share in every province it operates and plans to open 20 to 30 new stores by the end of 2024 [25][26] - High Tide's loyalty programs, Cabana Club and ELITE, have seen significant growth, with Cabana Club exceeding 1.43 million members and ELITE membership increasing by 226% year-over-year [21][40] Recent Developments - The company has opened five new Canna Cabana locations in Ontario and has plans for further expansion [10][13] - High Tide has acquired the intellectual property of the Queen of Bud cannabis brand, enhancing its product offerings [10][14] - The company is actively pursuing strategic mergers and acquisitions to expand its market presence and operational scale [8][9]

Five-Year Debt Financing Provides More Fuel to Continue Growing While Remaining Free Cash Flow Positive "I am very excited to announce that we have signed definitive agreements for an aggregate of $15 million in debt financing, plus a $10 million accordion feature. We have discussed publicly how we believe we are underleveraged, with our gross debt representing less than one times our 12-month trailing Adjusted EBITDA1, and could stand to benefit from obtaining more debt to continue fueling our rapid store ...

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sellside) analysts often affect a stock's price, do they really matter? High Tide currently has an average brokerage recommendation (ABR) of 1.25, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by four brokerage firms. An ABR o ...

The Company is Well Positioned to Take Advantage of Private Label Sales, Including Through its Newly Acquired Queen of Bud Brand Across Ontario, Manitoba, Saskatchewan and Alberta CALGARY, AB, June 4, 2024 /PRNewswire/ - High Tide Inc. ("High Tide" or the "Company") (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, welcomed the announcement by Alberta Gaming Liquor and Cannabis' (AGLC) that it has amended ...

High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world's most powerful plant and is the second-largest cannabis retailer in North America by store count1. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis, including: Bricks & Mortar Retail: Canna Cabana™ is the largest non-franchised cannabis retail chain in Canada, with 172 cu ...