NASDAQ : HITI

High Tide Inc. — Financial statements

Healthcare · Pharmaceutical Retailers · Canada

Last price 2.58 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 230.64M

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Financial statements

High Tide Inc. (HITI) reported revenue of 720.47M CAD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.

Income statement

Fiscal year November - October; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Operating Revenue720.47M593.99M522.31M487.67M356.85M181.12M
Revenue720.47M593.99M522.31M487.67M356.85M181.12M
Cost of Revenue532.40M440.46M379.80M356.36M255.90M117.14M
Gross Profit188.07M153.53M142.50M131.31M100.95M63.98M
Selling, General & Admin129.02M109.87M98.82M96.18M82.82M49.39M
Operating Expenses159.13M138.09M127.19M133.97M121.06M77.83M
Operating Income28.94M15.44M15.32M-2.66M-20.11M-13.85M
Interest Expense-18.43M-13.38M-12.79M-11.63M-9.44M-9.06M
Currency Exchange Gain (Loss)-956.00K-554.00K-24.00K134.00K-310.00K-539.00K
Other Non Operating Income (Expenses)-10.45M-23.56M305.00K1.88M6.34M-10.37M
EBT Excluding Unusual Items-899.00K-22.06M2.80M-12.29M-23.52M-33.82M
Merger & Restructuring Charges-9.76M-5.81M-2.61M-2.59M-306.00K-2.69M
Impairment of Goodwill-14.81M-14.81M-3.47M-10.29M
Gain (Loss) on Sale of Investments40.00K-489.00K-547.00K
Gain (Loss) on Sale of Assets3.31M
Asset Writedown-8.76M-8.76M-1.50M-23.97M-48.68M-2.73M
Other Unusual Items370.00K505.00K-772.00K718.00K
Pretax Income-34.23M-51.43M-4.40M-48.60M-73.76M-35.77M
Income Tax Expense64.00K-25.00K-593.00K-7.64M-2.92M-730.00K
Earnings From Continuing Operations-34.29M-51.40M-3.81M-40.95M-70.85M-35.04M
Minority Interest in Earnings951.00K657.00K-526.00K1.64M-908.00K680.00K
Net Income-33.34M-50.75M-4.34M-39.31M-71.76M-34.36M
Net Income to Common-33.34M-50.75M-4.34M-39.31M-71.76M-34.36M
Shares Outstanding (Basic)87.28M82.18M79.56M74.33M62.78M42.43M
Shares Outstanding (Diluted)87.28M82.18M79.56M74.33M62.78M42.43M
EPS (Basic)-0.38-0.62-0.05-0.53-1.14-0.81
EPS (Diluted)-0.39-0.62-0.05-0.53-1.14-0.81
Free Cash Flow16.50M13.78M27.33M14.88M-3.26M-13.39M
Free Cash Flow Per Share0.190.170.340.20-0.05-0.32
Gross Margin26.10%25.85%27.28%26.93%28.29%35.33%
Operating Margin4.02%2.60%2.93%-0.55%-5.64%-7.65%
Profit Margin-4.63%-8.54%-0.83%-8.06%-20.11%-18.97%
Free Cash Flow Margin2.29%2.32%5.23%3.05%-0.92%-7.39%
EBITDA35.19M27.55M38.54M27.97M-691.00K3.79M
EBITDA Margin4.88%4.64%7.38%5.73%-0.19%2.09%
D&A For EBITDA6.25M12.11M23.23M30.63M19.42M17.64M
EBIT28.94M15.44M15.32M-2.66M-20.11M-13.85M
EBIT Margin4.02%2.60%2.93%-0.55%-5.64%-7.65%
Advertising Expenses3.19M4.17M4.14M7.87M3.44M

Balance sheet

Fiscal year November - October; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Cash & Equivalents38.02M47.88M47.27M30.12M25.08M14.01M
Short-Term Investments70.00K64.00K712.00K141.00K195.00K860.00K
Cash & Short-Term Investments38.09M47.95M47.98M30.26M25.28M14.87M
Accounts Receivable10.20M14.63M3.31M7.57M7.92M6.49M
Other Receivables-9.01M284.00K681.00K
Receivables10.20M5.62M3.31M7.57M8.20M7.45M
Inventory67.45M67.41M29.34M25.97M23.41M17.04M
Prepaid Expenses21.17M15.92M5.16M4.84M7.17M6.92M
Total Current Assets146.01M136.88M85.79M68.64M64.06M46.29M
Property, Plant & Equipment89.86M77.23M64.00M57.78M62.00M52.74M
Goodwill96.76M90.12M73.37M76.20M83.42M79.94M
Other Intangible Assets32.88M39.43M19.44M27.28M62.07M62.34M
Long-Term Accounts Receivable179.00K203.00K506.00K
Other Long-Term Assets3.85M5.40M3.61M3.31M2.99M1.68M
Total Assets369.35M349.06M246.21M233.40M274.74M246.22M
Accounts Payable26.21M27.77M8.05M8.35M7.67M8.74M
Accrued Expenses26.35M19.49M14.10M10.92M15.36M7.79M
Short-Term Debt13.28M16.19M12.89M16.14M16.39M4.00M
Current Portion of Long-Term Debt1.99M1.54M13.97M8.84M2.70M2.55M
Current Portion of Leases10.43M9.81M8.82M7.21M7.63M5.73M
Current Income Taxes Payable8.40M7.19M1.66M1.63M3.21M1.81M
Current Unearned Revenue6.76M7.99M1.99M1.36M641.00K185.00K
Other Current Liabilities4.14M9.95M3.67M6.34M9.98M
Total Current Liabilities97.57M99.92M61.48M58.14M59.94M40.79M
Long-Term Debt46.01M42.32M7.54M12.51M17.03M20.80M
Long-Term Leases51.76M39.99M31.39M27.82M26.14M24.04M
Long-Term Deferred Tax Liabilities5.70M7.10M284.00K1.27M9.60M8.58M
Other Long-Term Liabilities48.38M56.95M
Total Liabilities249.42M246.28M100.70M99.73M112.71M94.21M
Common Stock334.17M329.64M300.64M288.03M279.51M208.90M
Additional Paid-In Capital42.09M42.02M40.51M30.75M23.05M15.16M
Retained Earnings-247.81M-260.11M-209.36M-205.93M-168.09M-87.79M
Comprehensive Income & Other-23.24M-23.95M11.48M18.71M21.88M10.94M
Total Common Equity105.22M87.61M143.27M131.56M156.35M147.21M
Minority Interest14.71M15.18M2.24M2.11M5.68M4.79M
Shareholders' Equity119.93M102.79M145.51M133.67M162.03M152.00M
Total Liabilities & Equity369.35M349.06M246.21M233.40M274.74M246.22M
Total Debt123.47M109.84M74.61M72.53M69.88M57.12M
Net Cash (Debt)-85.38M-61.89M-26.63M-42.27M-44.60M-42.25M
Net Cash Per Share-0.98-0.75-0.33-0.57-0.71-1.00
Filing Date Shares Outstanding89.14M87.84M80.90M78.56M74.57M59.51M
Total Common Shares Outstanding88.90M87.24M80.79M75.30M71.02M54.36M
Working Capital48.44M36.97M24.31M10.51M4.12M5.50M
Book Value Per Share1.181.001.771.752.202.71
Tangible Book Value-24.42M-41.94M50.46M28.07M10.86M4.93M
Tangible Book Value Per Share-0.27-0.480.620.370.150.09
Buildings4.73M4.72M3.71M3.58M2.80M2.80M
Machinery12.14M11.50M10.58M9.64M7.47M3.12M
Leasehold Improvements62.85M58.06M49.48M42.33M38.35M27.22M

Cash flow statement

Fiscal year November - October; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Net Income-33.34M-50.75M-4.34M-39.31M-71.76M-34.36M
Depreciation & Amortization25.02M22.19M23.23M30.63M27.76M24.54M
Other Amortization2.30M2.12M2.17M2.13M2.41M1.22M
Loss (Gain) From Sale of Assets342.00K-3.31M
Asset Writedown & Restructuring Costs23.56M23.56M4.96M34.27M48.68M2.73M
Loss (Gain) From Sale of Investments268.00K-40.00K489.00K547.00K
Stock-Based Compensation2.80M3.92M2.98M5.31M8.18M6.80M
Provision & Write-off of Bad Debts1.28M
Other Operating Activities11.10M23.12M2.90M-7.46M-6.66M8.90M
Change in Accounts Receivable-6.35M-1.34M4.26M627.00K-738.00K-1.63M
Change in Inventory-3.61M-5.81M-3.32M-2.87M-2.87M-5.50M
Change in Accounts Payable8.22M2.53M2.31M-5.34M1.20M901.00K
Change in Unearned Revenue828.00K6.00M424.00K720.00K641.00K
Change in Other Net Operating Assets-7.15M-1.67M-628.00K2.00M-2.85M-3.67M
Operating Cash Flow24.66M23.87M35.55M20.66M4.50M-2.83M
Capital Expenditures-8.16M-10.08M-8.22M-5.79M-7.76M-10.56M
Sale of Property, Plant & Equipment2.46M
Cash Acquisitions-15.00M-12.29M-600.00K270.00K463.00K-19.73M
Sale (Purchase) of Intangibles-701.00K-209.00K-703.00K-295.00K-1.30M-150.00K
Investment in Securities648.00K-660.00K95.00K-507.00K
Other Investing Activities-79.00K-354.00K-830.00K
Investing Cash Flow-23.95M-22.29M-11.01M-5.72M-8.59M-28.49M
Short-Term Debt Issued2.67M
Long-Term Debt Issued29.22M8.72M25.83M4.98M
Total Debt Issued14.60M29.22M8.72M2.67M25.83M4.98M
Short-Term Debt Repaid-3.79M-3.25M-2.92M-1.90M
Long-Term Debt Repaid-24.16M-16.39M-11.12M-27.73M-15.06M
Lease Payments-10.49M-10.01M-11.71M-11.06M-9.83M-7.45M
Total Debt Repaid-29.87M-27.95M-19.64M-14.05M-29.63M-15.06M
Net Debt Issued (Repaid)-15.27M1.27M-10.92M-11.38M-3.80M-10.08M
Issuance of Common Stock647.00K628.00K3.49M2.60M21.90M55.94M
Other Financing Activities-1.97M-1.70M-297.00K-489.00K-2.94M-8.06M
Financing Cash Flow-16.59M202.00K-7.72M-9.26M15.17M37.81M
Foreign Exchange Rate Adjustments-812.00K-1.16M333.00K-646.00K
Net Cash Flow-16.69M616.00K17.15M5.04M11.07M6.49M
Free Cash Flow16.50M13.78M27.33M14.88M-3.26M-13.39M
Free Cash Flow Margin2.29%2.32%5.23%3.05%-0.92%-7.39%
Free Cash Flow Per Share0.190.170.340.20-0.05-0.32
Levered Free Cash Flow-4.73M14.67M21.46M15.89M8.07M5.52M
Unlevered Free Cash Flow6.79M23.04M29.45M23.16M13.97M11.18M
Free Cash Flow After Leases6.01M3.77M15.62M3.81M-13.10M-20.84M
Cash Interest Paid9.16M7.37M6.41M2.46M
Cash Income Tax Paid545.00K329.00K638.00K
Change in Working Capital-8.06M-294.00K3.04M-4.86M-4.61M-9.90M

Ratios

Fiscal year November - October; amounts in CAD.

TTMFY2025FY2024FY2023FY2022FY2021
Market Capitalization231.28M272.27M226.37M107.86M102.07M294.63M
Enterprise Value303.01M285.54M250.06M141.62M139.75M317.50M
Last Close Price2.583.112.821.451.465.46
PS Ratio0.450.640.600.310.392.02
PB Ratio2.713.712.171.120.862.40
P/TBV Ratio6.255.3412.8274.11
P/FCF Ratio19.6027.6811.5410.07
P/OCF Ratio13.1115.998.877.2530.96
EV/Sales Ratio0.590.670.670.400.532.17
EV/EBITDA Ratio12.0814.529.047.03103.89
EV/EBIT Ratio14.6925.9222.75
EV/FCF Ratio25.6829.0312.7513.22
Debt / Equity Ratio1.031.070.510.540.430.38
Debt / EBITDA Ratio2.662.921.942.599.145.34
Debt / FCF Ratio7.487.972.734.88
Net Debt / Equity Ratio0.710.600.180.320.280.28
Net Debt / EBITDA Ratio2.432.250.691.51-64.5511.15
Net Debt / FCF Ratio5.174.490.972.84-13.67-3.16
Asset Turnover2.292.002.181.921.371.15
Inventory Turnover10.799.1113.7314.4312.659.19
Quick Ratio0.490.540.830.650.560.54
Current Ratio1.501.371.401.181.071.14
Return on Equity (ROE)-26.04%-41.40%-2.73%-27.70%-45.12%-42.80%
Return on Assets (ROA)5.74%3.24%3.99%-0.65%-4.83%-5.48%
Return on Invested Capital (ROIC)14.88%9.17%8.80%-1.39%-10.03%-11.29%
Return on Capital Employed (ROCE)10.60%6.20%8.30%-1.50%-9.40%-6.70%
Earnings Yield-10.67%-13.30%-1.38%-26.24%-51.55%-9.40%
FCF Yield5.10%3.61%8.66%9.93%-2.34%-3.67%
Buyback Yield / Dilution-7.80%-3.29%-7.03%-18.40%-47.95%-177.93%