What happened
High Tide Inc. (NASDAQ: HITI) said it placed No. 315 out of 375 on the 2026 Report on Business ranking of Canada's Top Growing Companies. It said this was its sixth straight year on the list. The company also said the ranking reflected a verified three-year revenue growth rate of 66% over the 2022 to 2025 measurement period.
Management said Adjusted EBITDA was up 161% over the same period. Raj Grover said the business is approaching an $800 million annualized revenue run rate after its strongest quarter yet. He also said Remexian is adding a source of growth in Germany.
Key numbers
| Metric | Latest | Change | Source |
|---|---|---|---|
| Ranking | No. 315 out of 375 | SEC 6-K | |
| Three-year revenue growth | 66% | SEC 6-K | |
| Adjusted EBITDA growth | 161% | SEC 6-K | |
| Annualized revenue run rate | approaching $800 million annualized revenue run rate | SEC 6-K | |
| Canna Cabana locations | 232 domestic and 1 international location | SEC 6-K | |
| Remexian market share | 10.5% share of the German medical cannabis market | SEC 6-K |
Why it matters
The filing matters because it lines up two operating trends over the same period. Revenue growth was 66% and Adjusted EBITDA growth was 161%. That is a gap of 95 percentage points. It can show whether scale is turning into stronger earnings power, not just more sales. The two growth rates are the main comparison. Both numbers matter here.
The counterargument is in the release itself. This is an awards update and management commentary, not a quarterly financial statement. It does not show the numbers behind the $800 million run-rate claim. It also does not say how much Remexian adds in Germany. Investors still need reported periods to see whether the gap holds.
What's next
The October issue of Report on Business magazine will publish the full list of 2026 winners and editorial coverage. For High Tide, the next test is whether future reported results keep revenue near the stated run-rate level and preserve the gap between revenue growth and Adjusted EBITDA growth. A stronger case would come from reported numbers that confirm both. A weaker one would come from a much smaller gap. Reported results will show whether the trend is holding.
Sources
- SEC 6-K — Ex-99.1 news release dated September 28, 2026.
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Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.
