High Tide Reports 30% YoY Increase In Q2 Revenue, Strengthens European Strategy

High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA) reported record revenue of CA$179.3 million ($12.8 million) in the second quarter, up 30% year-over-year and 1% quarter-over-quarter.

The Canadian cannabis giant said it posted its fastest revenue growth in 11 quarters and its fourth consecutive record quarter.

In addition to record revenue, the company reported record gross profit of CA$48.4 million, up 36% YoY and 9% sequentially, and record Adjusted EBITDA of CA$13.9 million, up 73% and 21% sequentially.

Operating income grew 554% year-over-year and 157% sequentially to record CA$6.1 million.

High Tide also reported continued market-share gains in both Canada and Germany.

In Germany, the acquisition of Remexian Pharma GmbH, a German medical cannabis distributor, allowed the company to improve efficiency, reduce costs and accelerate key operational and financial targets.

“Through the continued integration of Remexian, we have expanded our supply chain capabilities, eliminated unnecessary intermediaries, and are procuring biomass at materially lower costs than Remexian could on its own, enabling us to achieve key operational and financial objectives approximately 90 days ahead of our internal expectations,” Raj Grover, the company’s founder and CEO, said in a Monday press release.

High Tide’s Canadian retail cannabis business continued to outperform the broader market, driving higher profitability and positive cash flow, Grover explained.

“We remain highly optimistic about the strong momentum we are generating, and are now eyeing other markets in Europe to build upon our global ambitions,” Grover said.

Q2 2026 Financial Highlights

• Gross margin was 27%, up from 26% a year ago, and up 200 basis points compared to 25% sequentially.
• General and administrative expenses represented 4% of revenue, an improvement from 4.2% during the previous year and 4.1% quarter-over-quarter.
• Cash and cash equivalents totaled CA$36.5 million, compared to CA$34.7 million in the prior year and CA$46.4 million sequentially.

Separately, the company announced on Monday that it has secured credit approval from Bank of Montreal for new senior secured credit facilities totaling CA$40 million, including a CA$25 million revolving credit facility with a 3-year maturity and a CA$15 million delayed draw term loan.

The financing is expected to close within roughly 30 days. It will help High Tide to refinance the company’s existing loan with connect First and support working capital, corporate needs, acquisitions, and investments.

HITI Price Action

High Tide’s shares traded 13.56% higher at $2.555 per share at the time of writing on Tuesday morning.