High Tide Reports First Quarter 2025 Financial Results Featuring Record Revenue of $142.5 Million

Financial Performance - Revenue for the first fiscal quarter of 2025 reached $142.5 million, marking an 11$35.4 million, with a gross profit margin of 25%, down from 28% year over year [7][9] - The company reported a net loss of $2.7 million, compared to break-even in the prior year [7][9] Operational Highlights - Same store sales increased by 5% year over year, the fastest growth rate in the past four quarters [4][5] - The Cabana Club loyalty program surpassed 5.66 million global members, with Canadian membership exceeding 1.76 million, a 33% increase year over year [4][14] - The company held an 18% market share in Alberta and 10% in Ontario during November and December 2024 [4] Strategic Initiatives - The company is expanding its Cabana Club loyalty program globally, with a focus on international markets, including the German medical cannabis market [6][16] - Plans to open an additional 20-30 locations in Canada during calendar 2025, aiming for a total of 300 locations [13] - The company has launched 29 SKUs under the Queen of Bud brand since its acquisition in March 2024 [8] Market Position - High Tide remains the highest revenue-generating cannabis company reporting in Canadian dollars, with its bricks-and-mortar segment accounting for 95% of consolidated revenue [4][27] - The company has been recognized as a top 50 company by the TSX Venture Exchange for two consecutive years and ranked number one in the retail category on the Financial Times list of Americas' Fastest Growing Companies for 2023 [31]