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Canadian Cannabis Retail Giant High Tide Narrows Net Loss YoY, Reports 37% Revenue Growth In 2023

Benzinga ·  Jan 30 22:13

High Tide Inc.(NASDAQ:HITI) (TSXV:HITI) (FSE: 2LYA) filed its year-end audited 2023 and fourth quarter financial results on Monday.Revenue rose by 37% year-over-year to CA$487.7 million ($362.8 million) in 2023,and 2% sequentially to CA$127.1 million in the fourth fiscal quarter.

The Calgary, Alberta-based cannabis retail giant also reported an increase in its positive free cash flow run rate from CA$4.1 million in the third fiscal quarter of 2023 to CA$5.7 million in the fourth fiscal quarter, up by 40% quarter-over-quarter. That's the second consecutive quarter of record free cash flow.

"This places us amongst an elite group...

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