Earnings

High Tide Announces Exceptional First Quarter 2024 Results with Peak Revenue and Adjusted EBITDA

Published March 16, 2024

High Tide Inc. HITI, the vertically integrated cannabis market leader with operations spreading across Canada, the United States, and internationally, has disclosed its financial outcomes for the first quarter of 2024. The company's first quarter presented a remarkable showcase of financial discipline and operational excellence, hitting record-high revenue figures and record-adjusted EBITDA. It also marked the third consecutive quarter where the company generated a positive free cash flow, strongly indicating a robust financial health and operational resilience.

Robust Revenue and EBITDA Growth

During the reported quarter, HITI's revenue climbed to an all-time high, powered by strategic expansions and enhancements in operational efficiencies within their core markets. In conjunction with top-line growth, the company's adjusted EBITDA also surged to record levels, reflecting a proficient management of costs and a successful optimization of their business strategy.

Solid Financial Performance Markers

Beyond just enhanced revenue and EBITDA, HITI reached a pivotal financial milestone by achieving break-even net income. This accomplishment signals the company's ability to translate top-line growth directly into profitability, which is a significant indicator of financial maturity for investors. Additionally, the consistency in positive free cash flow for the third consecutive quarter underscores HITI's capability in maintaining liquidity and financial flexibility in the evolving market landscape.

Implications for Investors

The results underscore HITI's position as a leading player in the cannabis industry, not just within Canada's borders but on an international scale. As HITI continues to optimize its operations and expand its market reach, investors are likely to keep a keen eye on the company's financial progress, seeing it as a potentially lucrative avenue in the growing cannabis sector.

revenue, EBITDA, profitability