- strong growth in its unique membership program, which remains the largest brick-and-mortar cannabis loyalty program in Canada, with over 1.55 million Cabana Club members and over 57,000 ELITE members.
- 29 new Canna Cabana locations and now with a total of 191 stores across Canada
- Financial stability: Achieved positive net income for two consecutive quarters, a sales run rate of over $525 million, five consecutive quarters of positive free cash flow and cumulative free cash flow of $21.8 million and a cash balance of $35.3 million, which is a record
- Achieved a 12% market share in the five Canadian provinces where Canna Cabana has a presence.
- Over the past three years, the company's same-store sales have increased by 118%, while average operators have experienced a 21% decline during this period.
- Generated net sales/sales area of $1,658 in the Canna Cabana store network in the third quarter of fiscal 2024, which is higher than leading retailers such as Walmart, Target, Canadian Tire, etc.
- Expanded the Cabana Club membership program to the entire United States (US) via cabanaclubusa.com, as well as in Europe and the UK via cabanaclub.eu, building on the existing international customer base of over 4 million.
- Recognized as one of the top 10 companies in the Diversified Industries sector by the TSX Venture 50 for 2024 Recognized and ranked 87th out of 417 in the Globe and Mail's annual "Top Growing Companies" ranking with three-year revenue growth of 486%, marking the fourth consecutive year the company has been on the list.
- Expanded its white label offering by acquiring the established Queen of Bud brand.
- Launched the Canna Cabana 2.0 website.
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High Tide Inc. 2024 Highlights
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