High Tide Inc. (HITI) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — HITI

Balance Sheet

(in millions CAD)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Cash & Equivalents	47.88	47.27	30.12	25.08	14.01
Inventory	67.41	29.34	25.97	23.42	17.04
Total Current Assets	136.89	85.79	68.65	64.06	46.29
Goodwill	--	--	--	--	79.95
Total Non-current Assets	212.18	160.42	164.76	210.68	199.93
Total Assets	349.06	246.21	233.40	274.74	246.22
Total Current Liabilities	99.92	61.48	58.14	59.94	40.79
Total Non-current Liabilities	146.36	39.22	41.60	52.77	53.42
Total Liabilities	246.28	100.70	99.74	112.71	94.21
Retained Earnings	(260.10)	(209.36)	(205.93)	(168.09)	(87.79)
Total Stockholder Equity	102.79	145.51	133.67	162.03	152.00

Income Statement

(in millions CAD) (except per-share rows)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Total Revenue	593.99	522.31	487.67	356.85	181.12
Cost of Revenue*	440.46	379.80	356.36	255.90	117.14
Gross Profit	153.53	142.50	131.31	100.95	63.98
Selling, General & Admin	26.05	21.84	26.89	25.97	15.33
Total Operating Expenses	167.98	137.50	172.74	173.26	82.66
Operating Income	(14.45)	5.00	(41.42)	(72.31)	(18.67)
Interest Expense	--	--	1.30	--	0.00
Pretax Income	(51.43)	(4.40)	(48.60)	(73.76)	(35.77)
Tax Provision	(0.02)	(0.59)	(7.64)	(2.91)	(0.73)
Net Income	(51.40)	(3.81)	(40.95)	(70.85)	(35.04)
Basic EPS	(0.62)	(0.05)	(0.53)	(1.14)	(0.84)
Diluted EPS	(0.62)	(0.05)	(0.53)	(1.15)	(0.84)

* Derived from reported values

Cash Flow Statement

(in millions CAD)

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Operating Cash Flow	23.87	35.55	20.66	4.50	(2.82)
Investing Cash Flow	(22.29)	(11.01)	(5.72)	(8.59)	(28.49)
Financing Cash Flow	0.20	(7.72)	(9.26)	15.17	37.81