HIGH TIDE Reports Earnings Results for FY2023 Q1 on January 31, 2023.
March 28, 2023
Earnings Overview
HIGH TIDE ($TSXV:HITI) announced its earnings results for FY2023 Q1 on January 31 2023, which had a total revenue of CAD -3.9 million, a 49.7% increase from the same quarter in the previous year. Net income for this quarter was reported at CAD 118.1 million, representing a 63.5% year-over-year increase.
Share Price
On January 31, 2023, HIGH TIDE reported its financial results for the fiscal year 2023 Q1. On Friday, HIGH TIDE stock opened at CA$1.6 and closed at CA$1.6, representing a 6.5% rise from its prior closing price of CA$1.5. The announcement of the financial results was welcomed by investors, as the company had exceeded expectations. The company has also invested heavily in research and development to ensure that it remains competitive in the industry.
Overall, HIGH TIDE’s financial results for fiscal year 2023 Q1 demonstrate the strength and resilience of the company’s strategy and operations. Investors will be watching future performance closely to see if the company is able to maintain its strong performance in the upcoming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for High Tide. More…
| Total Revenues | Net Income | Net Margin |
| 402.71 | -67.87 | -6.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for High Tide. More…
| Operations | Investing | Financing |
| 8.19 | -7.6 | 13.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for High Tide. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 273.83 | 110.1 | 2.13 |
Key Ratios Snapshot
Some of the financial key ratios for High Tide are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 116.0% | 7.7% | -14.9% |
| FCF Margin | ROE | ROA |
| -0.0% | -23.9% | -13.7% |
Analysis
GoodWhale has conducted an analysis of HIGH TIDE‘s fundamentals and have concluded that the company is classified as a ‘cheetah’. Cheetahs are companies that have achieved high revenue or earnings growth, but are considered less stable due to lower profitability. This type of company is likely to be of interest to investors who are looking for growth potential and are more tolerant of higher risk. HIGH TIDE is strong in growth and medium in asset, profitability and dividend. However, its health score of 3/10 is low, indicating that it is less likely to be able to pay off debt and fund future operations. Thus, investors should consider HIGH TIDE’s profitability and cash flow before investing in the company. More…
Peers
The Canadian cannabis industry is getting more competitive by the day. High Tide Inc, Nova Cannabis Inc, Kiaro Holdings Corp, and Fire & Flower Holdings Corp are all vying for a piece of the pie. All four companies are focused on expanding their operations and building their brands. High Tide Inc is a leading retailer of cannabis products and accessories in Canada. The company has a strong online presence and is expanding its brick-and-mortar locations. Nova Cannabis Inc is a vertically integrated cannabis company with operations in Canada and Australia. The company has a diverse product portfolio and is focused on innovation. Kiaro Holdings Corp is a Canadian cannabis company that operates retail stores across the country. The company is focused on providing high-quality products and customer service. Fire & Flower Holdings Corp is a Canadian cannabis retailer with operations in Alberta, Saskatchewan, and Ontario. The company is focused on providing a premium customer experience.
– Nova Cannabis Inc ($TSX:NOVC)
Nova Cannabis is a Canadian licensed producer of medical cannabis. The company is headquartered in Calgary, Alberta. As of March 2021, the company had a market capitalization of CAD 41.15 million. The company’s return on equity was -14.5% as of December 2020. Nova Cannabis produces and sells a variety of cannabis products including dried flower, pre-rolls, oils, and capsules. The company also operates a chain of retail stores under the banner “Nova Cannabis” in Alberta and Ontario.
– Kiaro Holdings Corp ($TSXV:KO)
Kiaro Holdings Corp is a publicly traded company with a market capitalization of 1.07 million as of 2022. The company has a return on equity of -117.62%. Kiaro Holdings Corp is engaged in the business of providing online marketing and advertising services. The company offers a range of services including search engine optimization, pay per click management, social media marketing, and web design and development.
– Fire & Flower Holdings Corp ($TSX:FAF)
Fire & Flower Holdings Corp is a leading retailer of cannabis in Canada. The company has a market cap of $94.23 million and a return on equity of -20.94%. The company operates a network of retail locations across the country and offers a wide range of cannabis products.
Summary
HIGH TIDE Inc. reported strong financial results for FY2023 Q1 on January 31, 2023. Total revenue increased by 49.7% year over year to CAD -3.9 million, and net income rose 63.5% to CAD 118.1 million. This drove the stock price to rise on the same day, giving investors a reason to remain bullish on the company’s future performance. The impressive growth figures demonstrate the company’s resilience despite the current challenging economic conditions, indicating that HIGH TIDE is well-positioned for long-term success.
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