Canadian cannabis retailer High Tide reported break-even net income and positive free cash flow in its financial results for the first quarter of fiscal 2024.
The Calgary, Alberta-based company said late Friday that its revenue for the November-January quarter increased to 128.1 million Canadian dollars ($94.6 million), a year-over-year increase of 8% from CA$118.1 million.
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High Tide said it remains the highest revenue-generating cannabis company that reports in Canadian dollars.
The company’s chief executive called breaking even in net income a critical milestone.
“I am very proud to announce that High Tide has reached break-even net income this quarter, which is a critical milestone in our ongoing corporate trajectory and is a rarity in the global cannabis space,” CEO Raj Grover said in
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