High Tide (HITI) Financial Statements & Analysis

High Tide (HITI) Income Statement

High Tide reported revenue of CAD 593.99M in fiscal 2025 (fiscal year ended Oct 31, 2025), up 13.7% from CAD 522.31M a year earlier. High Tide posted a net loss of CAD 50.75M, compared with a net loss of CAD 4.34M a year earlier. Gross margin was 25.8% and operating margin -1.5%. In the most recent quarter, Q3 fiscal 2026 (ended Jul 31, 2026), revenue was CAD 198.82M, up 32.8% from the same quarter a year earlier.

High Tide Income Statement Analysis

Values in millions CAD

Income Statement Balance Sheet Cash Flow Ratios

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High Tide Inc. income statement - Annual data in millions CAD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021	Jan 2021	Jan 2020	Jan 2019	Oct 2017
Revenue & Gross Profit
Revenue	593.99	522.31	487.67	356.85	181.12	83.27	31.29	8.75	9.99
Cost of Revenue	440.46	379.80	356.36	255.90	117.14	52.45	19.98	5.64	5.29
Gross Profit	153.53	142.50	131.31	100.95	63.98	30.81	11.32	3.11	4.71
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	109.87	101.79	101.21	90.90	54.27	22.64	29.47	6.62	3.58
Operating Expenses	162.52	137.50	172.74	121.07	77.83	29.44	30.87	6.70	3.61
Operating Income	-8.99	5.00	-41.43	-20.11	-18.74	-0.68	-19.55	-3.73	0.96
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.13	3.31	0.10	0.00
Interest Expense	-13.38	12.79	11.64	9.95	10.24	8.00	1.83	0.00	0.14
Other Income/Expense	-17.57	-9.41	-7.17	-1.45	-17.09	-6.22	-7.13	-2.30	-0.40
Income
Income Before Tax	-51.43	-4.40	-48.60	-73.76	-35.77	-6.13	-27.00	-6.03	0.56
Income Tax Expense	0.56	-0.59	-7.64	-2.92	-0.73	0.23	-0.71	-1.49	0.27
Net Income	-50.75	-4.34	-39.31	-70.85	-35.04	-6.35	-26.29	-4.53	0.30
Net Income - Continuous Operations	-51.40	-4.34	-39.31	-70.85	-35.04	-6.35	-26.29	-4.53	0.30
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	27.55	33.78	-4.20	-33.65	-1.96	8.54	-22.29	-5.79	0.96
EBIT	15.44	15.32	-2.66	-63.82	-13.85	-	-	-	-
Depreciation & Amortization	12.11	25.39	32.76	30.17	23.57	6.80	1.40	0.09	0.03
Earnings Per Share
Basic EPS	-1.00	-	-1.00	-1.00	-1.00	-	-2.00	-	-
Diluted EPS	-1.00	-	-1.00	-1.00	-1.00	-	-2.00	-	-
Basic Shares Outstanding	82.18	80.59	74.33	62.78	42.43	15.27	13.21	12.57	13.13
Diluted Shares Outstanding	82.18	80.94	74.33	62.78	42.43	15.27	13.21	13.13	13.13

Source: Company financial statements from annual and quarterly filings. Data as of Jul 31, 2026. Data sources and methodology

Frequently Asked Questions About High Tide Financial Statements

What was High Tide's revenue in fiscal 2025?

High Tide reported revenue of CAD 593.99M in fiscal 2025 (fiscal year ended Oct 31, 2025). That was up 13.7% from CAD 522.31M a year earlier.

Is High Tide profitable?

No. High Tide reported a net loss of CAD 50.75M in fiscal 2025. In fiscal 2024 it lost CAD 4.34M.

What is High Tide's operating margin?

High Tide's operating income was −CAD 8.99M on revenue of CAD 593.99M in fiscal 2025, an operating margin of -1.5%, compared with 1.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition