High Tide (HITI) Returns to Profitability on 30% Revenue Jump in Q2 2026

High Tide reported Q2 2026 revenue of $128.2 million, a 30% increase year over year, though that figure came in roughly 25% below the analyst consensus estimate of $171.7 million. More striking was the shift to net profitability after prior losses, alongside a 73% surge in Adjusted EBITDA — a signal that the company's cost structure is improving even as the top line missed expectations.

Two growth engines drove the quarter: the Remexian acquisition, which extended High Tide's footprint into European markets, and continued domestic retail expansion in Canada. Both initiatives appear to have contributed to margin improvement rather than simply adding revenue volume, which explains the outsized jump in EBITDA relative to the revenue growth rate.

Investors will be watching whether the revenue miss against estimates reflects conservative forecasting on Wall Street's part or a genuine deceleration in demand. The stock was trading around $2.30 in the period following the report, a relatively tight range that suggests the market was digesting the profitability milestone alongside the top-line shortfall.