The Calgary-based retail-forward cannabis company, High Tide Inc. last week reported record revenue of $198.8-million(Cdn) for the three-month period ending in late July 2026. This is a 33 percent increase over the $149.7-million(Cdn) over third quarter 2025. This was the fifth consecutive quarter marking a new all-time high in revenue. High Tide’s Canna Cabana brand remains the largest cannabis retail chain in Canada with 232 operating locations. Excluding British Columbia, Canna Cabana’s market share was 14 percent, up from 13 percent in the previous year. Same-store sales for the entirety of the third fiscal quarter of 2026 were consistent with the prior year; however, comparative sales showed positive growth in each of the months of June 2026 and July 2026 versus the prior year. The company notes that, in terms of transaction count, on a same-store basis, Canna Cabana posted a 1.1 percent gain during the third fiscal quarter. Excluding stores open less than six months which are still ramping up, annualized retail sales per square foot were $1,721 across the Canna Cabana store network during the third fiscal quarter of 2026. During the quarter, High Tide opened new Canna Cabana locations in Toronto, Welland, Ottawa and Calgary and it completed the acquisition of four additional stores in Ontario, in Bowmanville, Oshawa, Courtice and Kingston, through the acquisition of 100 percent of the equity interests of J. Supply Holdings Inc., operating as Northern Helm. Subsequent to the end of its third quarter, the company announced the opening of three new Canna Cabana locations in Lindsay, Orléans, and Regina, bringing the Canadian Canna Cabana store count to 232. Canna Cabana also owns and operates a location in Berlin, Germany, selling consumption accessories. As previously reported, the company repeats its long-term goal of surpassing 350 locations across Canada and opening over 20 locations in calendar 2026, mostly through organic growth, while also evaluating supplemental M&A opportunities of varying sizes. The Canna Cabana stores generally operate in the 1200 square foot range in various formats and Chris Wanzel and Michael Calderone at Urban Reform Realty are responsible for the site selection in Canada. High Tide’s German medical cannabis subsidiary, Remexian Pharma GmbH, has continued to gain momentum since its acquisition of a majority stake, with market share increasing from 6.5 percent to 10.5 percent in the first six months post transaction.
Urban Reform Realty Inc., 121 King St West, Suite 1120, Toronto, Ontario M5H 3T9 (Chris Wanzel- 416/450-2098 chris@urbanreformrealty.com) & (Michael Calderone – 416/409-7903 michael@urbanreformrealty.com)
High Tide Inc., #112, 11127 15th St. NE, Calgary, Alberta T3K 2M4 (855/747-6420 www.hightideinc.com)