High Tide Posts Biggest Earnings Yet
Coming up on Trade to Black, presented by Flowhub, hosts Shadd Dales and Anthony Varrell bring you up to date on the latest cannabis news. In segment one: Pulak Sharma, co-founder and CEO of Kazmira Therapeutics, will join us to break down how CBD coverage, prescribing, and delivery could realistically take shape in an environment changed by rescheduling cannabis. In segment two: High Tide (TSX: HITI | NASDAQ: HITI) CEO Raj Grover joins us following what may be the strongest earnings report in the company’s history.
Featured in Wednesday’s episode: have you ever wondered how the CBD model will actually work once cannabis rescheduling is implemented? Or how real-world medical evidence is finally starting to tell a clearer story around cannabinoids? Pulak Sharma discusses this and more, as we anticipate the possibility of cannabis rescheduling. We’ll also dig into Kazmira’s January 20 press release announcing the launch of the first cannabis-grade dispensary in Colorado, and what that signals about where pharmaceutical-grade cannabinoid distribution is heading.
Later, what might be one of the biggest earnings prints yet from a major cannabis company — who is it, and why does it matter? High Tide just released their fourth quarter and year end earnings report for 2025. Among some of the highlights: Revenue was a record $164.0 million for the three months ended October 31, 2025, compared to $138.3 million during the same period last year, an increase of 19% year over year, representing the fastest growth rate in nine quarters. And gross profit was a record $42.5 million for the three months ended October 31, 2025, up 19% year over year and up 6% sequentially. Record revenue, positive free cash flow, expanding margins, and a loyalty-driven retail model showing real operating leverage.
We’re covering all of this in today’s episode.
