High Tide Q4 Earnings: Revenue Beat, EPS Miss, Positive Free Cash Flow, Accelerating Membership Growth And More
High Tide Inc (NASDAQ:HITI) reported fourth-quarter financial results after the market close on Wednesday. Here’s a look at the highlights from the quarter.
Q4 Earnings: High Tide reported fourth-quarter revenue of 138.3 million Canadian dollars ($95.9 million), beating analyst estimates of CA$135.37 million, according to Benzinga Pro. The cannabis retailer reported a fourth-quarter loss of six cents (Canadian dollar) per share, missing analyst estimates for a loss of two cents (Canadian dollar) per share.
High Tide said it now has more than 1.72 million members in its Cabana Club, up approximately 34% year-over-year. The company noted that ELITE members crossed 73,000 in the quarter, up 161% year-over-year. Canna Cabana held 19% market share in Alberta and 10% in Ontario in the fourth quarter.
“We are witnessing an …