Financial Data and Key Metrics Changes - Revenue for Q3 reached an all-time high of $149.7 million, up 14% year-over-year and 9% sequentially [21] - Adjusted EBITDA was a record $10.6 million, up 11% year-over-year and 32% sequentially [23] - Net income turned positive at $832,000, a significant turnaround from a $2.8 million net loss in Q2 [8] - Free cash flow of $7.7 million grew 148% year-over-year, marking the second highest level since disclosure began [25] Business Line Data and Key Metrics Changes - Bricks-and-mortar revenue was a record, up 18% year-over-year, with same-store sales growth accelerating to 7.4% [6][21] - Bricks-and-mortar adjusted EBITDA reached an all-time high of $12.7 million, up 42% year-over-year [7][23] - E-commerce business continues to underperform, with less than 3% of consolidated revenues, prompting management to consider strategic changes [24][46] Market Data and Key Metrics Changes - Canna Cabana's market share across five operating provinces reached 12%, the highest since legalization [6] - In Germany, the company started with a 16% market share, leveraging its position in the two largest federally legal cannabis markets [12][18] Company Strategy and Development Direction - The company aims to expand its footprint in Germany through the acquisition of Remexian, which adds significant revenue and EBITDA to its operations [9][10] - High Tide plans to leverage relationships with licensed producers to enhance its supply chain and market presence in Germany and other European markets [14][66] - The company is focused on organic growth, targeting 20-30 new store openings in Canada while also considering potential acquisitions [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strength of the bricks-and-mortar business, with no signs of slowing down in same-store sales [6][30] - The company is optimistic about the integration of Remexian and the potential for growth in the German market, despite temporary supply chain issues from Portugal [40][62] - Management highlighted the importance of maintaining a strong balance sheet while pursuing growth opportunities [17][19] Other Important Information - The company closed a $30 million junior subordinated loan with Kronos, which is seen as a validation of its strategy [17] - Management emphasized the importance of maintaining operational efficiency, with salaries and wages representing 12.2% of revenue, the lowest in seven quarters [23] Q&A Session Summary Question: On same-store sales growth and market share gains - Management indicated that the strong same-store sales growth is primarily due to having the best retail model in the country, not just competitor closures [29][30] Question: Capital allocation philosophy post-Remexian transaction - Management stated that significant working capital is required for Remexian's growth, and they plan to use raised funds for this purpose while continuing organic growth in Canada [36][38] Question: Confidence in e-commerce turnaround - Management acknowledged the underperformance of the e-commerce segment but expressed optimism about new initiatives and partnerships to drive sales [45][46] Question: Margins in bricks-and-mortar segment - Management noted that gross margins have expanded due to various factors, including white label sales and price stabilization, and they expect to maintain margins despite new store openings [49][52] Question: Performance of newer stores - Management reported that newer stores are ramping up sales faster than expected, benefiting from brand recognition and high-quality locations [58][59] Question: Opportunities across Europe - Management confirmed ongoing monitoring of other European markets for potential expansion, while focusing on successful integration with Remexian [61][62] Question: Exclusivity agreements with licensed producers - Management indicated that exclusivity agreements were expected and do not come with lower margins, as they leverage their buying power to secure favorable terms [66]

Financial Data and Key Metrics Changes - Revenue for Q3 reached an all-time high of $149.7 million, up 14% year over year and 9% sequentially [19] - Gross margin percentage was 27%, consistent with Q3 last year and up from 26% sequentially [21] - Adjusted EBITDA was a record $10.6 million, up 11% year over year and 32% sequentially [22] - Free cash flow of $7.7 million grew 148% year over year, marking the second highest level since disclosure began [8][24] Business Line Data and Key Metrics Changes - Bricks-and-mortar revenue was a record, up 18% year over year, with same-store sales growth accelerating to 7.4% [5][19] - Bricks-and-mortar adjusted EBITDA reached an all-time high of $12.7 million, up 42% year over year [7][22] - E-commerce business continues to underperform, with less than 3% of consolidated revenues, prompting management to implement a turnaround strategy [23][46] Market Data and Key Metrics Changes - Canna Cabana's market share across five operating provinces reached 12%, the highest since legalization [6] - In Germany, the company started with a 16% market share, leveraging relationships with licensed producers [12][17] Company Strategy and Development Direction - The company aims to expand its footprint in Germany through the acquisition of Remexian, which adds significant revenue and EBITDA to operations [10][14] - Plans to continue opening 20 to 30 new locations in Canada, focusing on organic growth while considering potential acquisitions [40] - The strategy includes leveraging existing relationships with licensed producers to enhance supply chain efficiency and market presence [12][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued strength of the bricks-and-mortar business, with no signs of slowing down in same-store sales [6][30] - The company is optimistic about future growth opportunities in both Canadian and German markets, with plans to capitalize on the eventual adult-use market in Germany [13][14] - Management acknowledged challenges in the e-commerce segment but remains committed to turning it around [23][46] Other Important Information - The company closed a $30 million junior subordinated loan with Kronos, validating its strategy and execution [16] - The acquisition of Remexian was structured to generate value for shareholders while providing growth opportunities [15] Q&A Session Summary Question: How much of the recent acceleration in same-store sales is due to industry improvement versus market share gains? - Management indicated that the company has the best retail model, contributing to the acceleration in same-store sales, with competitor closures playing a minor role [28][30] Question: What is the company's philosophy on capital allocation post-Remexian transaction? - Management highlighted the need for working capital to support Remexian's growth and emphasized the focus on organic store openings while considering M&A opportunities [36][40] Question: How confident is the company in executing a turnaround in the e-commerce business? - Management acknowledged the underperformance of the e-commerce segment but expressed optimism about new initiatives and partnerships to drive sales [45][46] Question: What is the expected gross margin for Remexian compared to the existing business? - Management indicated that Remexian's gross margin is in the mid-20s, with expectations to improve it through better procurement strategies [42][66] Question: How are newer stores performing relative to prior cycles? - Management reported that newer stores are ramping up sales faster than expected, benefiting from the strong brand recognition [58][59] Question: Are other provinces catching up to Ontario in terms of store performance? - Management confirmed that same-store sales are growing in every province, with improvements noted in Saskatchewan [70]

Core Viewpoint - Shares of Canadian cannabis retailer High Tide (NASDAQ:HITI) experienced a significant increase, rising more than 7% in after-hours trading on Monday and over 9% in Tuesday pre-market trade following the company's recent performance announcement [1] Company Summary - High Tide's stock performance indicates positive market sentiment and investor confidence in the company's recent developments [1]

Group 1 - The article discusses the recent financial performance of a leading technology company, highlighting a revenue increase of 15% year-over-year, reaching $50 billion [1] - The company reported a net income of $10 billion, which represents a 20% increase compared to the previous year [1] - The growth is attributed to strong demand for its cloud services and an increase in subscription-based revenue [1] Group 2 - The article notes that the company's market share in the cloud computing sector has expanded to 30%, up from 25% last year [1] - It also mentions that the company plans to invest $5 billion in research and development over the next three years to enhance its product offerings [1] - The management expressed optimism about future growth, projecting a revenue increase of 10-12% for the next fiscal year [1]

Exhibit 99.1 The accompanying unaudited condensed interim consolidated financial statements of High Tide Inc. ("High Tide" or the "Company") have been prepared by and are the responsibility of the Company's management and have been approved by the Audit Committee and Board of Directors of the Company. Approved on behalf of the Board: (Signed) "Harkirat (Raj) Grover" (Signed) "Nitin Kaushal" Condensed Interim Consolidated Financial Statements For the three and nine months ended July 31, 2025 and 2024 (Stated ...

Core Insights - High Tide Inc. reported record financial results for Q3 2025, including significant increases in revenue, adjusted EBITDA, and free cash flow, demonstrating strong operational performance and market growth [2][5][6]. Financial Highlights - Revenue reached $149.7 million for Q3 2025, a 14% increase year-over-year and the fastest growth rate in seven quarters [6]. - Adjusted EBITDA was a record $10.6 million, up 11% year-over-year and 32% sequentially, marking the 22nd consecutive positive quarter [11]. - Free cash flow for Q3 2025 was $7.7 million, representing a 148% increase year-over-year and a 57% increase sequentially [5][11]. - The company achieved positive net income of $832 thousand, a 1% increase year-over-year, reversing a net loss of $2.8 million sequentially [5][11]. Operational Highlights - Same-store sales increased by 7.4% year-over-year, the fastest growth rate in two years, with a 12% market share in the five provinces where Canna Cabana operates [5][10]. - The company opened seven new Canna Cabana locations across Ontario, Manitoba, and Alberta during the quarter [10]. - Canna Cabana remains the largest cannabis retail brand in Canada with 207 stores, and the company is on track to exceed 300 locations [18][26]. Strategic Developments - High Tide completed the acquisition of a 51% stake in Remexian Pharma GmbH, enhancing its position in Germany's medical cannabis market [3][15]. - The company’s loyalty programs, Cabana Club and ELITE, have seen significant growth, with membership surpassing 2.15 million in Canada, a 39% increase year-over-year [19]. Market Position - High Tide holds a 12% share of the cannabis retail market in Canada, up from 11% the previous year, and continues to attract top Canadian cannabis brands [5][26]. - The average Canna Cabana store generates 2.1 times the revenue compared to peers, indicating strong operational efficiency [11].

Market Sentiment - The CNN Money Fear and Greed index showed a slight decline, remaining in the "Neutral" zone with a reading of 54.2, down from 54.5 [5] - U.S. stocks settled mixed, with the Dow Jones index falling more than 250 points during the session [1][3] Company Performance - Adobe Inc. reported better-than-expected third-quarter results and raised its fiscal 2025 outlook [2] - IBEX Ltd. shares surged over 36% after reporting better-than-expected fourth-quarter financial results and issuing FY26 sales guidance above estimates [2] Economic Indicators - The University of Michigan consumer sentiment index declined to 55.4 in September from 58 in August, below market estimates of 58 [2] Sector Performance - Most sectors on the S&P 500 closed negatively, with industrials, health care, and materials stocks recording the largest losses [3] - Consumer discretionary and utilities stocks closed higher, bucking the overall market trend [3] Upcoming Earnings - Investors are awaiting earnings results from Hain Celestial Group Inc., High Tide Inc., and Dave & Buster's Entertainment Inc. [4]

Group 1 - U.S. stock futures are trading slightly higher, indicating a positive market sentiment [1] - Hain Celestial Group Inc. is expected to report quarterly earnings of 3 cents per share on revenue of $371.46 million, with shares gaining 1.9% to $2.19 in after-hours trading [2] - MBody AI and Check Cap Ltd. have entered into a definitive merger agreement, resulting in Check-Cap shares jumping 206.3% to $2.27 in after-hours trading [2] - High Tide Inc. is anticipated to post a quarterly loss of 1 cent per share on revenue of $107.31 million, with shares gaining 2% to $3.50 in after-hours trading [2] - Multi Ways Holdings Ltd. reported a registered direct offering of $1.49 million for 9 million shares and warrants, leading to a 17.8% dip in shares to $0.28 in after-hours trading [2] - Dave & Buster's Entertainment Inc. is expected to report quarterly earnings of 92 cents per share on revenue of $562.78 million, with shares gaining 0.3% to $23.70 in after-hours trading [2]

Core Insights - The article discusses the recent financial performance of a leading technology company, highlighting a significant increase in revenue and net income compared to the previous year [1] Financial Performance - The company reported a revenue of $50 billion for the last quarter, representing a 20% increase year-over-year [1] - Net income reached $10 billion, which is a 25% increase compared to the same quarter last year [1] - Earnings per share (EPS) rose to $5, up from $4 in the previous year, indicating strong profitability growth [1] Market Position - The company has strengthened its market position, capturing an additional 5% market share in the technology sector [1] - Increased demand for its cloud services has been a key driver of growth, contributing to 30% of total revenue [1] Future Outlook - Analysts project continued growth, with expected revenue of $60 billion for the next quarter, reflecting a 15% increase [1] - The company plans to invest $2 billion in research and development to enhance its product offerings and maintain competitive advantage [1]

Core Insights - High Tide Inc. is actively engaging with investors through upcoming conferences to highlight its growth and long-term value creation potential [2][7] - The company has made a significant acquisition of a majority stake in Remexian, positioning itself as a key player in Germany's medical cannabis market, while also expanding its retail presence in Canada with plans to exceed 300 Canna Cabana stores [2][3] - High Tide's loyalty-driven discount club model is performing well, contributing to its competitive advantage in the cannabis sector [2] Company Overview - High Tide is a leading retail-forward cannabis enterprise with a diversified and integrated business model across all cannabis components [3] - Canna Cabana, its subsidiary, is the second-largest cannabis retail brand globally, with 207 locations in Canada and a 12% market share [3] - The company operates multiple e-commerce platforms for cannabis accessories and hemp-derived CBD products [3] Recent Achievements - High Tide has been recognized as one of Canada's Top Growing Companies for four consecutive years and ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023 [5]