04:44 PM EST, 01/29/2025 (MT Newswires) -- High Tide (HITI.V) after trade Wednesday said its fiscal fourth-quarter loss narrowed and revenue rose year-over-year.

The cannabis retailer lost C$4.8 million, or C$0.06 per share, in the quarter ended Oct.31, compared with a loss of C$31.8 million, or C$0.39 per share, in the year-prior period.

Revenue rose 9% to C$138.3 million from C$127.1 million a year ago.

"With the addition of 30 new stores and millions of new Cabana Club members joining our community, fiscal 2024 has been yet another exceptional year for High Tide's growth and momentum," Chief Executive Raj Grover said.

In 2024, High Tide met its target of adding 20 to 30 stores and plans to add another 20 to 30 stores in 2025 while maintaining positive free cash flow, the company said, adding that it reiterates its long-term goal to reach 300 locations across Canada.

The company's shares closed up $0.05 to $4.25 on the TSX Venture Exchange.