High Tide (HITI) Prnewswire·2024-12-30 11:00Core Insights - High Tide achieved record growth in 2024, becoming the top revenue-generating cannabis company in Canada for the third consecutive year, driven by positive cash flow and expansion efforts [22][23]. Membership and Market Share - The Cabana Club has over 1.55 million members in Canada, including 57,000 ELITE members, contributing to a 12% market share in Canadian brick-and-mortar cannabis sales [2][17]. - The company plans to expand the Cabana Club membership program into the U.S. and Europe, building on an existing international customer base of over 4 million [17]. Retail Expansion - High Tide operates the largest cannabis retail chain in Canada, Canna Cabana™, with 191 locations across several provinces, having added 29 new locations in 2024 [3][17]. - The company reported a significant increase in same-store sales, up 118% over the past three years, while the average operator experienced a decline of 21% during the same period [17]. Financial Performance - High Tide reported positive net income for two consecutive quarters and an annualized revenue run rate exceeding 21.8 million and a cash-on-hand balance of 1,658, outperforming major retailers like Wal-Mart and Target [17]. Industry Recognition - High Tide was recognized as one of Canada's Top Growing Companies by the Globe and Mail for the fourth consecutive year, with a revenue growth of 486% over three years [10][17]. - The company ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023 [10]. Product and Service Innovation - High Tide continues to innovate with its Fastendr™ technology, which enhances the retail experience through automated kiosks [13]. - The company expanded its premium white-label offerings by acquiring the established Queen of Bud brand [17].