September 15, 2025 – By Stratcann Staff
High Tide Inc. reports $149.7 million in revenue in the three months ended July 31, 2025 (Q3 2025), gross profit of $40.1 million, and net income of $832,000.
This marks a 14% increase in revenue compared to the same period in the previous year (Q3 2024), a 13% increase in gross profit, and a 1% increase in net income. It is also the first revenue-positive quarter for the company since Q3 2025.
High Tide’s wholly owned subsidiary, Canna Cabana, is the largest cannabis retail brand in Canada with 207 current operating locations, holding a growing 12% share of the market.
The company states it’s on track to reach the upper end of its previously stated target of 20–30 new locations in calendar 2025, while advancing toward its long-term goal of surpassing 300 locations nationwide.
As of September 8, 2025, High Tide sells 75 cannabis and accessory SKUs across both of its flagship Queen of Bud and Cabana Cannabis Co. brands. The two brands had a combined $6.4 million in sales in the past twelve months.
High Tide also recently secured a deal to acquire German pharmaceutical company Remexian, which distributes medical cannabis to pharmacies in the country.
“I’m thrilled to share that this has been our most powerful quarter to date across nearly every financial metric, including record revenue and adjusted EBITDA, along with positive free cash flow and net income,” said Raj Grover, Founder and Chief Executive Officer of High Tide. “Importantly, we also delivered our strongest same-store sales growth in two years, which helped propel an 18% year-over-year increase in our core bricks-and-mortar business. These results once again prove that our loyalty-focused innovative discount club model continues to resonate strongly with our customers.”
“The cherry on top of these results is the recent closing of our acquisition of a majority stake in Remexian, which positions us as a major player in Germany’s medical cannabis market based on market share. With this game-changing acquisition, High Tide is now not only a leader in Canada, but also a leader in Europe’s largest cannabis market. By further diversifying our revenue streams with Remexian’s strong financials, we have enhanced our capacity to continue powering Canadian growth through free cash flow generation, strengthening our ability to deliver value to shareholders and setting ourselves up to exceed 300 Cabanas in Canada.”
“Top Canadian cannabis brands have already started to come on board exclusively with High Tide, which will further fuel our momentum. With Remexian’s financial strength and operational leadership now part of the High Tide family, I’ve never been more confident in our ability to accelerate growth both at home and abroad,” added Mr. Grover.
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