High Tide Reports $34.5M Cash Position, Sells 1,400 Shares In Q2, Expands Cannabis Footprint
Portfolio Pulse from Nicolás Jose Rodriguez
High Tide Inc. (NASDAQ:HITI) reported strong financial performance in Q2 2024, with $9.4 million in free cash flow and a net income of $0.2 million. Revenue increased by 5% to $124.3 million, and adjusted EBITDA grew by 52% year-over-year. The company plans to expand its cannabis footprint by opening 20-30 new stores by year-end, supported by a strong cash position of $34.5 million.
June 14, 2024 | 3:35 am
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High Tide Inc. reported strong Q2 2024 financials with $9.4 million in free cash flow and a net income of $0.2 million. Revenue increased by 5% to $124.3 million, and adjusted EBITDA grew by 52% year-over-year. The company plans to open 20-30 new stores by year-end, supported by a strong cash position of $34.5 million.
The strong financial performance, including positive free cash flow and net income, along with plans for significant expansion, indicates a positive short-term outlook for High Tide Inc. The company's robust cash position and strategic growth initiatives further support this positive sentiment.
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IMPORTANCE 90
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