High Tide Inc.
For the period ended Oct 31, 2025. Filed Jan 29, 2026.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2025 · Filed Jan 29, 2026
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Contents
EX-99.1 · (a) Operating segment
(a) Operating segment
| Bricks-and-Mortar | Bricks-and-Mortar | E-commerce | E-commerce | Medical cannabisdistribution | Total | Total | |
|---|---|---|---|---|---|---|---|
| For the year ended October 31, | 2025 | 2024 | 2025 | 2024 | 2025 | 2025 | 2024 |
| $ | $ | $ | $ | $ | $ | $ | |
| Total Revenue | 565,316 | 484,444 | 18,860 | 37,862 | 9,810 | 593,986 | 522,306 |
| Gross profit | 147,427 | 124,651 | 5,715 | 17,851 | 388 | 153,530 | 142,502 |
| Income (loss) from operations | 22,582 | 12,180 | (34,967) | (7,177) | (2,063) | (14,448) | 5,003 |
| Bricks-and-Mortar | Bricks-and-Mortar | E-commerce | E-commerce | Medical cannabisdistribution | Total | Total | |
| As at October 31, | 2025 | 2024 | 2025 | 2024 | 2025 | 2025 | 2024 |
| $ | $ | $ | $ | $ | $ | $ | |
| Current assets | 84,396 | 75,161 | 7,632 | 10,628 | 44,857 | 136,885 | 85,789 |
| Non-current assets | 143,861 | 128,719 | 2,765 | 31,700 | 65,551 | 212,177 | 160,419 |
| Current liabilities | 54,458 | 56,741 | 4,532 | 4,739 | 40,929 | 99,919 | 61,480 |
| Non-current liabilities | 131,594 | 35,788 | 4,504 | 3,428 | 10,258 | 146,356 | 39,216 |
Corporate overhead is allocated to the bricks-and-mortar, medical cannabis distribution and e-commerce segments based on each segment’s percentage of revenue and number of months of results included in the financial statements in the current fiscal year. For the year ended October 31, 2025 allocations were 95% to bricks-and-mortar,3% to e-commerce and 2% for medical cannabis distribution (October 31, 2024:93% bricks-and-mortar, nil medical cannabis distribution,7% e-commerce).
High Tide Inc.
Notes to the Consolidated Financial Statements
For the years ended October 31, 2025 and 2024
(Stated — In thousands of Canadian dollars, except share and per share amounts)
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