High Tide Reports Third Quarter 2024 Financial Results Featuring Record Revenue of $131.7 Million, and 2nd Consecutive Quarter of Positive Net Income
High Tide reported record revenue of $131.7 million for Q3 2024, a 6% YoY and sequential increase. This marks the 2nd consecutive quarter of positive net income, improving to $0.8 million from $(3.6) million YoY. The company also achieved its 5th consecutive quarter of positive free cash flow at $3.1 million, contributing to a trailing total of $21.8 million. High Tide reached a 12% market share in its operating provinces, up from 10% a year ago.
Other highlights include:
Gross profit of $35.5 million, a 3% YoY increase.
Adjusted EBITDA of $9.6 million, an 18th consecutive positive quarter.
1.55 million Cabana Club members, up 41% YoY.
Opening 11 new Canna Cabana locations.
Cash and cash equivalents of $35.3 million, a record high.
Other highlights include:
Gross profit of $35.5 million, a 3% YoY increase.
Adjusted EBITDA of $9.6 million, an 18th consecutive positive quarter.
1.55 million Cabana Club members, up 41% YoY.
Opening 11 new Canna Cabana locations.
Cash and cash equivalents of $35.3 million, a record high.
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