High Tide Reports First Quarter 2024 Financial Results Featuring Record Revenue, Record Adjusted EBITDA, and Third Consecutive Quarter of Positive Free Cash Flow as well as Break-Even Net Income | PR Newswire [Video]

First Quarter Results Include Revenue of $128.1 Million, Adjusted EBITDA of $10.4 Million, and $3.6 Million of Free Cash Flow

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated August 31, 2023, to its short form base shelf prospectus dated August 3, 2023.

• The Company is Now the Second-Largest Cannabis Retailer in North America by Store Count¹
• High Tide Remains the Highest Revenue Generating Cannabis Company Reporting in Canadian Dollars²
• The Company Generated $3.6 Million of Positive Free Cash Flow³ in the Quarter, Despite a $5.4 Million Reduction in Accounts Payable and Accrued Liabilities. Over the Last Three Quarters, the Company Generated $13.3 Million Dollars in Free Cash Flow
• The Company Generated Breakeven Net Income With Fully Diluted Earnings Per Share of $0.00 Versus $(0.05) in the First Fiscal Quarter of 2023. The Company Also Generated Record Income From Operations of $2.8 Million, Versus $(3.9) Million…