High Tide Inc. (HITI)

Nasdaq: HITI · Retail-Retail Stores, NEC · Calgary, AB · filing with the SEC since 2021

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Grade5.0

◀ Past 6.4● Present 4.4▶ Future 4.8

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of High Tide Inc.

Nine metrics read from its own filings, by tense

Headline grade

5.0/10

◀ Past6.425% of the headline

● Present4.445% of the headline

▶ Future4.830% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.4/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed

7.8/10

Has it survived what it has been through?

No warning events in its filings since 2021.

weight 45% of this tense · 78th percentile among 18 sector filers · read for itself

From the record

High Tide Inc.'s filings since 2021 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

7.3/10

What has it actually done, year after year?

+48.1% a year over 6 filed years; profitable in 0 of 6.

weight 33% of this tense · 73rd percentile among 17 sector filers · read for its customers

From the record

High Tide Inc.'s 6 filed years say what it did: revenue went from CAD 83 million in fiscal 2020 to CAD 594 million in fiscal 2025, up 48.1% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 0 of 6 of those years (its annual reports).

What it rests on

revenue growth over the filed span48.1%top 9% of its family
the share of years revenue rosetop 9% of its family
the share of filed years with a profitbottom 18% of its family
the deepest fall from a revenue peak0.0%top 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

2.4/10

How has it treated the people who own it?

Share count grew 9.4% a year. 0% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 24th percentile among 12 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-10-31, High Tide Inc.'s diluted share count grew about 9.4% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

the share count over the yearsbottom 26% of its family
cash returned against operating cash flowbottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

4.4/1045% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

3.4/10

Is it financially healthy right now?

ROE -50%: lost 50¢ per shareholder dollar. Leverage 71%: owes 71¢ per asset dollar.

weight 45% of this tense · 34th percentile among 18 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-10-31, High Tide Inc. lost about 50 cents for every dollar of shareholders' money, and gross profitability: its products earned about 44 cents per dollar of everything the company owns. Leverage: it owed about 71 cents per dollar of assets, and net share issuance: its share count grew 3.3% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 47% of its family
return on equitybottom 19% of its family
gross profit against assetsbottom 37% of its family
the share count against the year beforebottom 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

5.9/10

How strong is its position in its industry?

top 41% of 17 in its family; net margin -8.7%.

weight 33% of this tense · 59th percentile among 17 sector filers · read for its customers

From the record

High Tide Inc.'s standing among 17 graded names in its industry family: revenue of CAD 594 million in fiscal 2025 is not ranked by size, since the family reports in another currency; a net margin of -8.7% ranks in the bottom 38%; revenue growth of 18.5% a year over the last 3 filed years ranks in the top 21% (its annual reports).

What it rests on

net margin-8.7%bottom 38% of its family
three-year revenue growth18.5%top 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.4/10

What are the people in charge doing?

SI estimate 4.4/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 9 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 9 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 9 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: High Tide Inc.'s leadership is put at 4.4 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 9 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.8/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

5.2/10

How much room does it have to grow?

top 48% of 17 in its family for room to expand.

weight 22% of this tense · 52nd percentile among 17 sector filers · read for itself

From the record

High Tide Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of CAD 48 million against debt of CAD 13 million leaves 9.9% of its assets as net cash, top 36% of its family; cash from operations less capital spending is 2.3% of revenue (top 32%); a gross margin of 25.8% (bottom 23%) (its annual report).

What it rests on

cash less debt against assets9.9%top 36% of its family
cash from operations less capital spending against revenue2.3%top 32% of its family
gross margin25.8%bottom 23% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

5.3/10

What could actually drive growth from here?

top 47% of 17 in its family for growth drivers.

weight 45% of this tense · 53rd percentile among 17 sector filers · read for its customers

From the record

High Tide Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 18.5% a year over the last three filed years against 48.1% over all 6, slowing (bottom 3% of its family); the newest year grew 13.7% (top 15%); capital spending grew 9.1% a year (top 28%) (its annual reports). High Tide Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-29.6 points a yearbottom 3% of its family
the newest year's revenue growth13.7%top 15% of its family
three-year growth of capital spending9.1%top 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

3.9/10

Did its newest year beat what its own record pointed to?

bottom 39% of 15 in its family for expectations against reality.

weight 33% of this tense · 39th percentile among 15 sector filers · read for its shareholders

From the record

High Tide Inc.'s newest year against its own record: revenue of CAD 594 million in fiscal 2025 came in 6% below the CAD 632 million its prior three years' pace pointed to (bottom 17% of its family); net income of CAD 51 million against a prior three-year average of CAD 39 million (bottom 30%); a net margin of -8.7% against -9.7% before (top 30%) (its annual reports).

What it rests on

revenue against the prior three years' pace-6.0%bottom 17% of its family
net income against the prior three years' average-33%bottom 30% of its family
net margin against its prior average+1.0 pointstop 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton HITI · research, not advice