High Tide Stock Slides On Q1 Earnings, Company Says Canadian Cannabis Business ‘Continues To Get Stronger Every Day’
Cannabis retailer High Tide Inc (NASDAQ:HITI) reported financial results for the first quarter after the market close on Monday. Here’s a look at the key details from the quarter.
Q1 Earnings: High Tide reported first-quarter revenue of 142.46 million Canadian dollars ($99.76 million), up 11% year-over-year. The cannabis company reported a fourth-quarter loss of three cents (Canadian dollars) per share, according to Benzinga Pro.
High Tide said it now has more than 5.66 million members in its Cabana Club globally. The company noted ELITE members crossed 85,500 in the quarter, up approximately 13% on a quarter-over-quarter basis. Canna Cabana held 11% market share across the five provinces it’s located in during the quarter.
Same-store sales …