High Tide Achieves Record-Breaking Q1 2026 with Revenue Growth and Increased EBITDA Margin
High Tide, a leading cannabis company, has announced its unaudited financial and operational results for the first quarter (Q1) of 2026. The company's performance exceeded expectations, driven by significant revenue growth and an increase in adjusted EBITDA margin.
In its Q1 2026 earnings call, High Tide reported a quarterly revenue of CAD 178.3 million, representing a year-over-year growth of 25% and a sequential increase of 9%. This growth rate is the fastest pace experienced by the company in 10 quarters, placing them on track to exceed CAD 700 million in revenue for FY 2026.
The company's core brick-and-mortar segment continued to outperform its peers, with rising margins that have now increased sequentially for five straight quarters. High Tide's domestic business hit a margin of 28%, solidifying its position as a leader in the industry.
In contrast, High Tide's newer international business is gaining momentum. The company acquired a majority interest in Remexian, and while revenue from this segment was only CAD 11.5 million in Q1 2026, it marks an improvement over previous periods. Notably, Remexian reported EUR 25 million in revenue for the quarter, with a record-breaking EUR 12 million generated in February alone.
High Tide's management expressed confidence in Remexian's ability to deliver strong results moving forward. The company has begun sourcing biomass from Canada at best-in-class terms, which should further improve the segment's performance.
The Q1 2026 earnings call also highlighted High Tide's focus on growth and expansion. With a revenue run rate exceeding CAD 700 million for FY 2026, the company is well-positioned to capitalize on the growing cannabis market.
Adjusted EBITDA was up 62% year-over-year, marking the fastest pace of growth in two years. High Tide's management attributed this success to their strategy and operational improvements. The company's financial results demonstrate its ability to adapt and innovate in a rapidly evolving industry.
The Q1 2026 earnings call provided valuable insights into High Tide's performance and future prospects. With its strong revenue growth, increased EBITDA margin, and expanding international presence, the company is poised for continued success in the cannabis market.
