In this latest The Dales Report Cannabis Exclusive, we talk to the CEO of High Tide, Raj Grover. High Tide is a Canadian brick and mortar cannabis retail enterprise and a major player in hemp-derived CBD in North American and European markets.
We kick off the podcast discussing the remarkable growth and financial performance of High Tide in the US cannabis market despite the many challenges that companies in the space have been experiencing. High Tide has managed to generate positive free cash flow of $4.1 million and achieve significant same-store sales growth of 19% year over year and 8% sequentially. With a track record of 114% same-store sales growth over the last 7 quarters and being one of the few Canadian players to achieve free cash flow generation in the US, High Tide has positioned itself as a driving force in the industry.
Tune in to hear Raj explain some of the goals High Tide is setting for themselves in both earnings and growth. Looking at their approach to achieving net income positivity in the cannabis industry, the discussion emphasizes the importance of continued free cash flow generation while still pursuing responsible development.
We discuss their strategic plans to enter the US market and become one of the top 5 Multi-State Operators (MSOs). The company aims to control costs while maintaining a strong focus on delivering exceptional customer experiences. With a customer base of 4.6 million through their consumption accessory business and 1.1 million members of the Cabana Club, High Tide intends to leverage big data to drive sales and convert customers into cannabis consumers through targeted communication strategies.
Don’t miss this opportunity to gain insights into High Tide’s exceptional financial performance, growth objectives, and expansion into the US market. Explore their strategies for achieving net income positivity, their use of big data, and their commitment to providing an outstanding customer experience.