Overview

* High Tide fiscal Q3 revenue grows 14% yr/yr, beating analyst expectations, per LSEG data

* Adjusted EBITDA for fiscal Q3 beats consensus

* Co reports positive net income, reversing sequential net loss

Outlook

* High Tide aims to open 20-30 new stores in 2025

* Company expects to exceed 2.5 mln Cabana Club members in Canada

Result Drivers

* SAME-STORE SALES - Same-store sales grew 7.4% yr/yr, the fastest growth rate in two years

* DISCOUNT CLUB MODEL - Loyalty-focused discount club model propelled 18% yr/yr revenue increase in core bricks-and-mortar segment

* GERMAN MARKET EXPANSION - Acquisition of Remexian enhances revenue diversification and positions High Tide in Germany's medical cannabis market

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat C$149.69 C$146.60

Revenue mln mln (3

Analysts

)

Q3 EPS C$0.01

Q3 Net C$832,00

Income 0

Q3 Beat C$10.64 C$8.93

Adjusted mln mln (3

EBITDA Analysts

)

Q3 Gross C$40.09

Profit mln

Q3 C$3.74

Income mln

From

Operatio

ns

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the drug retailers peer group is "buy"

* Wall Street's median 12-month price target for High Tide Inc ( HITI ) is C$7.75, about 39.2% above its September 12 closing price of C$4.71

* The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 404 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)