High Tide Inc. Q3 2026 Results Overview
High Tide Inc., listed on NASDAQ (HITI) and TSXV (HITI), announced record third‑quarter 2026 financial results that substantially outperformed analyst expectations. Revenue reached $199 million, representing a 33% year‑over‑year increase and exceeding the consensus estimate of $137.41 million by 45%. This revenue growth was the fastest the company has recorded in the past 13 quarters and places the firm on track toward an $800 million annualized revenue run‑rate.
Adjusted earnings per share (EPS) were $0.12, beating the forecast by $0.11. Adjusted EBITDA climbed to $16.2 million, a 53% increase from the prior year quarter, and the adjusted EBITDA margin improved to 8.2%, the highest level in the last 12 quarters. Gross profit hit a new high of $52.7 million, up 32% YoY, while the gross margin remained steady at 27%. Operating expenses fell to 18% of revenue, down from 20% in the comparable period last year.
Net income surged to $12.7 million from $0.8 million a year earlier, and free cash flow for the quarter totaled $7.0 million.
The company’s Canna Cabana retail chain continued to be Canada’s largest cannabis retailer, operating 232 locations and holding a 14% market share in the provinces where it is present, excluding British Columbia. Its German medical‑cannabis subsidiary, Remexian, distributed a record 10.2 tonnes of product during the quarter, generating $38.2 million in revenue.
CEO and Founder Raj Grover commented that “nearly every major financial metric moved in the right direction this quarter, with many reaching the highest levels in our history,” and highlighted that the bottom line is now growing substantially faster than the top line, reflecting the operating leverage the company has built over years. The firm reiterated its long‑term objective of expanding to more than 350 locations across Canada.