High Tide

What High Tide does

High Tide Inc. is a publicly traded, retail-forward cannabis enterprise headquartered in Calgary, Alberta, listed on NASDAQ, TSX Venture Exchange, and the Frankfurt Stock Exchange under the ticker HITI. Founded in 2009 and operated by founder/CEO Raj Grover, the company generated $179.3M in Q2 FY2026 revenue (30% YoY) on a $700M+ annualized run rate, making it the highest-revenue cannabis company reporting in Canadian dollars. The business operates a vertically integrated platform spanning bricks-and-mortar retail, medical cannabis distribution, and global e-commerce across Canada, Germany, the United States, and the United Kingdom.

The core operating asset is the Canna Cabana discount-club retail chain — 228 locations across five Canadian provinces with 12% market share — anchored by the Cabana Club loyalty program (2.65M+ members) and the ELITE paid membership tier (178,000+ subscribers). The proprietary Fastendr™ retail kiosk/smart-locker technology supports in-store automation. International expansion is led by Remexian Pharma GmbH, a German medical cannabis importer/distributor acquired in September 2025 that holds 14% of the German medical cannabis market and licenses to import from 19 countries under exclusive distribution agreements with six Canadian brands. E-commerce operations include Grasscity (world's oldest online headshop), Smoke Cartel (world's largest online smoke shop), Daily High Club, and Dankstop, supplemented by hemp-derived CBD brands NuLeaf Naturals (US), FAB CBD, and Blessed CBD (UK).

The revenue model combines transaction-based retail cannabis sales, B2B medical cannabis distribution, e-commerce transaction revenue, and recurring subscription revenue from ELITE memberships. Distribution is enabled by Valiant Distribution (North American and European wholesale) and Famous Brandz (licensed accessories manufacturing). Capital structure has been strengthened by a US$30M convertible debt facility from Cronos Group (July 2025) and a C$40M senior secured facility from Bank of Montreal (June 2026). The company has executed continuous bolt-on M&A — most recently Northern Helm (four Ontario stores, June 2026) — alongside organic store openings toward a stated 350+ location target.

Name

High Tide

Legal name

High Tide Inc.

Website

https://hightideinc.com

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

High Tide is a publicly traded Canadian cannabis enterprise operating 228 Canna Cabana retail stores, German medical cannabis distribution via Remexian, and global e-commerce platforms, serving value-focused cannabis consumers, German pharmacies, and CBD customers across North America and Europe.

Ownership category

akta.pro rank

Product category

Cannabis Retail

NAICS

Pharmacies and Drug Retailers (45611), Drugs and Druggists' Sundries Merchant Wholesalers (424210)

SIC

Retail-Drug Stores And Proprietary Stores (5912), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Dispensary-Owned Online Ordering & Delivery (Direct-to-Consumer) (CRANAGAE)

akta.pro secondary industries

Cannabis Accessories & Smoke Shops (Pipes, Papers, Grinders) (CRANAHAG), Cannabis Online Ordering for Dispensary Pickup (Click-and-Collect) (CRANAGAC)

Keywords

• Cannabis retail
• Medical cannabis distribution
• Consumption accessories
• Hemp CBD products
• Cannabis loyalty programs

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Retail Cannabis Sales: Bricks-and-mortar retail cannabis sales through 228 Canna Cabana locations across Canada, generating revenue from recreational cannabis products and accessories. Dominant market position with 12% market share in operating provinces.
2. Medical Cannabis Distribution (Germany): Medical cannabis distribution through Remexian Pharma GmbH in Germany, one of Europe's largest federally regulated cannabis markets. Generated $31.6M revenue in Q2 2026 with 14% market share. Licensed to import from 19 countries including Canada.
3. E-commerce (Accessories & CBD): Global e-commerce platforms including Grasscity (world's largest online headshop), Smoke Cartel, DankStop, Daily High Club serving consumption accessories market. CBD e-commerce through NuLeaf Naturals, FAB CBD, and Blessed CBD for US and UK markets.
4. ELITE Membership: Paid membership tier (ELITE) generating recurring subscription revenue from over 178,000 members in Canada, providing enhanced benefits and discounts.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

High Tide operates Canada's largest cannabis retail chain (Canna Cabana) with 228+ brick-and-mortar discount club locations across five provinces, distributes medical cannabis to German pharmacies through majority-owned Remexian Pharma GmbH (holding 14% of the German medical cannabis market), and runs global e-commerce platforms (Grasscity, Smoke Cartel, Daily High Club, Dankstop) for consumption accessories alongside wholly-owned CBD brands (NuLeaf Naturals, FAB CBD, Blessed CBD).

Product overview

High Tide is a diversified cannabis enterprise operating across retail, medical cannabis distribution, and global e-commerce platforms. The company operates through multiple interconnected brands: Canna Cabana (flagship bricks-and-mortar retail with 220+ Canadian stores and growing international presence), Remexian Pharma GmbH (German medical cannabis distribution with 14% market share), and a portfolio of e-commerce platforms including Grasscity, Smoke Cartel, Daily High Club, and Dankstop for consumption accessories. The portfolio includes wholly-owned CBD brands NuLeaf Naturals, FAB CBD, and Blessed CBD, alongside proprietary retail technology (Fastendr), premium white-label cannabis (Queen of Bud), and accessory manufacturing/distribution (Valiant Distribution, Famous Brandz). The ecosystem is powered by the Cabana Club loyalty program with 2.65+ million members and the ELITE paid tier.

Differentiator

Problem solved

Functional benefit

Brands

• Cabana Club: Largest cannabis loyalty program globally with over 2.65 million members in Canada
• ELITE
• Cabana Cannabis Co.

Products and services

• Canna Cabana Flagship bricks-and-mortar cannabis retail chain with 228 locations across Canada, operating as North America's first cannabis discount club retailer with Cabana Club loyalty program (2.65M+ members) and ELITE paid tier (178,000+ members).
• Remexian Pharma GmbH German medical cannabis importer and distributor headquartered near Berlin, holding 14% market share of Germany's medical cannabis market with licenses to import from 19 countries, distributing Canadian medical cannabis brands to German pharmacies.
• Fastendr Proprietary automated retail kiosk and smart locker technology for cannabis retail, enabling automated browsing, ordering, and pickup with faster transaction times and lower overhead costs.
• Queen of Bud Premium white-label cannabis brand featuring hand-trimmed hang-dried cultivars and consumption accessories inspired by crystal energy with elegant designs.
• Grasscity World's oldest online headshop founded in Amsterdam in 2000, one of the world's largest online retailers of consumption accessories with 17.5M+ page views and 61,000+ orders shipped in 2024.
• Smoke Cartel World's largest online smoke shop offering 30,000+ SKUs including vaporizers, e-nails, dab rigs, and hemp-derived CBD products with 9.5M+ page views and 85,000+ orders shipped in 2024.
• Daily High Club Online marketplace offering glass water pipes, vaporizers, and consumption accessories with subscription boxes, with over 1 million accessories sold and thousands of active monthly subscribers.
• Dankstop Online retailer of consumption accessories focused on viral trending products with an innovative website and dedicated support team.
• NuLeaf Naturals Leading U.S. cannabinoid company producing hemp-derived CBD products (oils, tinctures, creams, gummies) at cGMP-certified facilities in Denver, Colorado, sold direct-to-consumer with 35,000+ verified 5-star reviews.
• FAB CBD Hemp-derived CBD products including oils, tinctures, creams, and gummies for preventative wellness, manufactured at NuLeaf's cGMP-certified facility in Denver, Colorado.
• Blessed CBD Leading UK online retailer of hemp-derived CBD products including oils, creams, gummies, and capsules, with rapid shipping and personable customer service.

Quantifiable outcome

• Average Canna Cabana store generates 1.9x revenue versus peers
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• TribalcoreChannel Partner/ Reseller/ Distributor · 17 June 2026Exclusive distribution partnership bringing Tribal's premium Canadian medical cannabis products to German patients and pharmacies through Remexian's distribution network.
• Highly Dutch OrganiccoreChannel Partner/ Reseller/ Distributor · 17 June 2026Exclusive distribution partnership for Highly Dutch Organic's medical cannabis products in the German market through Remexian Pharma GmbH.
• Weed MecoreChannel Partner/ Reseller/ Distributor · 17 June 2026Exclusive partnership bringing Weed Me cannabis products to German medical cannabis patients through Remexian's licensed distribution network.
• The Loud PlugcoreChannel Partner/ Reseller/ Distributor · 17 June 2026Exclusive distribution partnership for The Loud Plug's medical cannabis products in Germany through Remexian Pharma GmbH.
• Joi BotanicalscoreChannel Partner/ Reseller/ Distributor · 17 June 2026Exclusive partnership bringing Joi Botanicals premium medical cannabis to German patients via Remexian's pharmacy network.
• Castle Rock FarmscoreChannel Partner/ Reseller/ Distributor · 17 June 2026Exclusive distribution partnership for Castle Rock Farms medical cannabis products in the German market through Remexian.
• ReWasteminorStrategic or Co-development Partner · 20 September 2022Edmonton-based recycling partnership diverting cannabis packaging plastic waste into closed-loop product manufacturing. Recycling bins present at Canna Cabana locations across Canada.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Canopy Growth Corporation: Canadian cannabis leader with retail and branded products operations; comparable as a broad incumbent in the same regulatory environment with overlapping product categories and retail ambitions.
• Aurora Cannabis: Canadian licensed producer with global medical cannabis operations; notably the parent of Cronos Group is investor-adjacent, and Aurora operates comparable international medical distribution that overlaps with High Tide's German ambitions.
• Curaleaf Holdings: U.S. multi-state operator (MSO) running 100+ dispensaries; relevant as the largest scaled cannabis retail footprint peer, providing benchmark for High Tide's eventual U.S. Canna Cabana expansion ambitions.
• Tilray Brands: Large diversified cannabis operator with presence across cultivation, brands, and distribution including Tilray Medical in Germany — directly comparable to High Tide's Remexian German medical cannabis operations and broader North American footprint.

Direct peers

• Trulieve Cannabis Corp. Vertically integrated U.S. cannabis MSO with one of the largest retail footprints in the country; comparable to High Tide's vertical integration strategy combining retail and proprietary products.
• Green Thumb Industries: U.S. cannabis MSO operating RISE and other retail dispensary chains; directly comparable as a vertically integrated, retail-forward cannabis operator at similar scale to High Tide.
• Planet 13 Holdings: Vertically integrated cannabis operator known for the world's largest dispensary (Las Vegas SuperStore); comparable as a retail-specialist cannabis operator focused on flagship store experiences.
• Charlotte's Web Holdings: Leading U.S. hemp-derived CBD brand with cGMP manufacturing and DTC distribution; comparable to High Tide's NuLeaf Naturals and FAB CBD subsidiaries, particularly relevant as both pursue the CMS Medicare CBD pilot participation opportunity.
• Fika Cannabis (formerly Fire & Flower): Canadian cannabis retail chain operating physical dispensaries nationally; directly comparable as another major Canadian cannabis retailer competing for foot traffic in the same provinces where High Tide's Canna Cabana operates.
• cbdMD: Direct-to-consumer CBD brand selling through owned e-commerce and select retail; directly comparable to High Tide's wholly-owned CBD subsidiaries (NuLeaf Naturals, FAB CBD, Blessed CBD) operating in the same hemp-derived CBD category.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/high-tide-inc
• Xx.com/hightide_hiti

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries13 records

Funding overview

Funding rounds12 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A17 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about High Tide