Second-Largest Cannabis Retailer In North America Reports Record Revenue, Adjusted EBITDA In Q1
Portfolio Pulse from Jelena Martinovic
High Tide Inc. (NASDAQ:HITI) reported an 8% year-over-year revenue increase to CA$128.1 million for Q1 2024, achieving break-even net income and a significant improvement in Adjusted EBITDA to CA$10.4 million, up 90% from the previous year. The company also highlighted strong cost controls, a growing retail footprint with 165 locations, and a robust membership base. Additionally, High Tide restructured approximately $8.9 million of its outstanding debt and reported record revenue from its Cabanalytics platform.
March 15, 2024 | 8:23 pm
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POSITIVE IMPACT
High Tide Inc. reported significant Q1 2024 financial improvements, including an 8% revenue increase, break-even net income, and a 90% increase in Adjusted EBITDA. The company's strategic growth and cost control measures are yielding positive results.
High Tide's Q1 2024 financial results indicate a strong performance and positive trajectory, which is likely to instill investor confidence and potentially drive up the stock price in the short term. The company's focus on cost control, revenue growth, and strategic expansion, including the restructuring of its debt and the success of its Cabanalytics platform, are key factors contributing to this positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100