2023-03-20 01:21:31 ET
- High Tide press release ( NASDAQ: HITI ): FQ2 GAAP EPS of -$0.05 in-line.
- Revenue of $118.1M (+63.6% Y/Y) beats by $32.02M .
- Gross profit margin in the three months ended January 31, 2023, was 27%, consistent with the previous three quarters.
- Adjusted EBITDA increased to $5.5 million in the first fiscal quarter of 2023 compared to $3.0 million during the same period in 2022, representing an increase of 86% year-over-year and 10% sequentially.
- Cash on hand as of January 31, 2023, totalled $23.7M.
- The Company had previously announced its target to add 40-50 new retail locations in calendar 2023; however, given the current macro conditions and the state of cannabis capital markets, the Company is revising its earlier guidance.
- The new goal for calendar 2023 is to achieve free cash flow generation by the end of this calendar year.
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High Tide reports FQ2 earnings; issues FY23 soft outlook