#Canada #Canna Cabana #Calgary #Remexian Pharma #High Tide Inc

High Tide's Remarkable Financial Results for Q4 2025 and Year-End Review

High Tide Inc. has recently announced its record-breaking financial performance for the fourth quarter and end of the fiscal year 2025. The Canadian cannabis powerhouse has showcased remarkable growth metrics, demonstrating its resilience and strategic growth in the rapidly evolving cannabis retail market.

Key Highlights

In the Q4 fiscal report, High Tide's revenue soared to an impressive $164.0 million, marking a 19% increase compared to the same period in 2024. This growth reflects the fastest rate seen in nine quarters. Sequentially, this revenue figure represents a 10% increase. Notably, the company has managed to remain cash flow positive throughout the fiscal year, marking a significant milestone in its operational trajectory.

Expanding Cannabis Retail Presence

High Tide continues to solidify its position as the largest cannabis retailer in Canada. The Company proudly operates 218 Canna Cabana locations across several provinces. Within fiscal 2025 alone, High Tide opened 27 new stores, achieving the upper limits of its stated target. The same-store sales also reflected an upward trend, showing an increase of 4.1% over the fiscal year and 5.5% year-over-year for Q4, indicating a growing customer base and consumer interest.

The Cabana Club membership has surpassed 2.5 million in Canada, a significant growth of 45% year-over-year, making it one of the most comprehensive cannabis loyalty programs globally. Moreover, the ELITE membership tier also reached new heights, indicating that a growing number of customers are engaging with High Tide’s premium offerings.

International Expansion into Germany

The acquisition of a majority stake in Remexian Pharma GmbH has positioned High Tide to enter the lucrative German medical cannabis market. With this strategic move, High Tide is now recognized as a major distributor of medical cannabis in Germany, aiming to capitalize on this fast-growing market. Despite facing initial supply chain challenges, the operational capacity of Remexian is stabilizing, as they recorded their second-highest tonnage distribution in December 2025. This is indicative of the promising trajectory for High Tide’s operations in Europe.

Financial Overview

For the fourth quarter, High Tide recorded a gross profit of $42.5 million, sustaining a gross margin of 26%. This margin is boosted by operational efficiency improvements and the continued strength of its core retail segment, which accounted for 92% of the revenue. High Tide’s adjusted EBITDA reached $12.4 million, up 51% year-over-year, indicating ongoing operational improvements and scalability.
However, the Company faced a net loss of $46.7 million in Q4, attributed to one-time non-cash items.

Future Outlook

Looking forward, High Tide aims to maintain its growth momentum in 2026, with plans for further expansion in Canada and entering additional international markets. The strategic evaluation of its e-commerce operations also indicates a forward-thinking approach, ensuring they leverage emerging markets effectively. The anticipated launch of U.S. CBD pilot programs under proposed Medicare frameworks represents a significant opportunity for High Tide's CBD brands, NuLeaf Naturals and FAB CBD.

High Tide’s management, led by CEO Raj Grover, expressed confidence in continuing this trajectory, focusing on strengthening the Cabana Club and expanding their product offerings through innovative partnerships and enhanced strategic initiatives.

Overall, High Tide’s 2025 performance reflects a dynamic blend of solid financial results and strategic market growth, paving the way toward a promising future in the cannabis industry.