What is High Tide's operating income?

High Tide's total operating income in 2025 was -$20.87 million, based on the following breakdown: Total Gross Profit: $109.59 million Total Operating Expenses: $20.87 million

High Tide (HITI) Financials

$2.21 -0.02 (-0.90%)

Closing price 07/9/2026 04:00 PM Eastern

Extended Trading

$2.21 0.00 (0.00%)

As of 08:17 AM Eastern

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Annual Income Statements for High Tide

This table shows High Tide's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-5.93	-34	-25	-22	-1.37	-21
Consolidated Net Income / (Loss)	-4.77	-28	-52	-30	-2.73	-37
Net Income / (Loss) Continuing Operations	-5.93	-34	-25	-22	-2.28	-21
Total Pre-Tax Income	-5.93	-34	-25	-22	-3.16	-21
Total Operating Income	-5.93	-34	-25	-22	13	-21
Total Gross Profit	23	52	74	95	102	110
Total Revenue	63	146	0.00	0.00	369	0.00
Total Cost of Revenue	39	94	0.00	0.00	319	0.00
Total Operating Expenses	29	86	25	22	37	21
Selling, General & Admin Expense	4.71	12	19	19	16	19
Marketing Expense	0.32	2.78	5.77	2.99	2.99	2.27
Total Other Income / (Expense), net	0.00	0.00	0.00	0.00	-16	0.00
Weighted Average Basic Shares Outstanding	-	54.36M	71.02M	71.02M	80.79M	87.24M
Weighted Average Diluted Shares Outstanding	-	54.36M	71.02M	71.02M	80.79M	87.24M
Weighted Average Basic & Diluted Shares Outstanding	-	54.36M	71.02M	71.02M	80.79M	87.24M

No quarterly income statements for High Tide are available.

This table details how cash moves in and out of High Tide's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025
Net Change in Cash & Equivalents	3.15	-14	8.12	3.63	12	18
Net Cash From Operating Activities	-4.77	-27	6.99	10	14	17
Net Cash From Continuing Operating Activities	-4.77	-27	6.99	10	14	17
Net Income / (Loss) Continuing Operations	-4.77	-28	-52	-30	-2.73	-37
Consolidated Net Income / (Loss)	-4.77	-28	-52	-30	-2.73	-37
Depreciation Expense	-	-	22	24	18	17
Non-Cash Adjustments To Reconcile Net Income	0.00	0.97	38	25	-3.25	32
Changes in Operating Assets and Liabilities, net	-	-	-0.79	-8.84	1.53	4.07
Net Cash From Investing Activities	1.28	-0.41	-5.69	-4.17	-6.37	0.46
Net Cash From Continuing Investing Activities	1.28	-0.41	-5.69	-4.17	-6.37	0.46
Sale and/or Maturity of Investments	1.28	0.00	0.00	-	-0.47	0.46
Net Cash From Financing Activities	6.65	14	6.47	-2.15	3.08	0.00
Net Cash From Continuing Financing Activities	6.65	14	6.47	-2.15	3.08	0.00
Cash Interest Paid	-	-	-	-	4.60	5.26
Cash Interest Received	-	-	-	-	0.29	0.27
Cash Income Taxes Paid	-	-	-	-	0.46	0.23

No quarterly cash flow statements for High Tide are available.

This table presents High Tide's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025
Total Assets	52	199	201	168	177	249
Total Current Assets	14	37	47	49	62	98
Cash & Equivalents	5.65	11	18	22	34	34
Accounts Receivable	2.15	6.01	6.01	5.46	2.37	4.01
Inventories, net	4.28	-	-	19	21	48
Prepaid Expenses	2.30	-	-	3.48	3.70	11
Plant, Property, & Equipment, net	6.29	20	23	20	20	21
Plant, Property & Equipment, gross	6.29	20	23	20	20	21
Total Noncurrent Assets	28	153	146	99	95	130
Intangible Assets	-	115	107	75	67	92
Other Noncurrent Operating Assets	13	36	40	24	29	38
Total Liabilities & Shareholders' Equity	52	199	201	168	177	249
Total Liabilities	44	76	83	72	72	176
Total Current Liabilities	18	33	44	42	44	71
Short-Term Debt	12	5.28	14	18	19	13
Accounts Payable	4.82	-	-	15	16	34
Current Deferred Revenue	-	-	-	0.98	1.43	5.70
Other Taxes Payable	-	-	-	-	1.19	5.13
Other Current Liabilities	0.57	13	10	7.85	6.32	14
Total Noncurrent Liabilities	27	43	39	30	28	104
Long-Term Debt	12	17	12	9.01	5.41	17
Capital Lease Obligations	13	19	19	20	23	29
Noncurrent Deferred & Payable Income Tax Liabilities	1.64	6.92	7.04	0.91	0.20	5.07
Other Noncurrent Operating Liabilities	1.28	-	-	-	0.00	41
Total Equity & Noncontrolling Interests	3.79	123	119	96	104	73
Total Preferred & Common Equity	2.63	119	115	95	103	63
Preferred Stock	-	12	17	22	29	30
Total Common Equity	2.63	107	98	73	74	58
Common Stock	24	169	205	208	216	235
Retained Earnings	-26	-71	-123	-148	-150	-186
Accumulated Other Comprehensive Income / (Loss)	-0.37	-0.52	4.15	3.79	4.91	5.21
Other Equity Adjustments	4.35	9.34	12	9.70	3.32	3.24
Noncontrolling Interest	1.17	3.87	4.17	1.52	1.61	11

No quarterly balance sheets for High Tide are available.

This table displays calculated financial ratios and metrics derived from High Tide's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	10/31/2020	10/31/2021	10/31/2022	10/31/2023	10/31/2024	10/31/2025
DEI Shares Outstanding	0.00	54,360,028.00	71,021,233.00	71,021,233.00	-	87,235,986.00
DEI Adjusted Shares Outstanding	0.00	54,360,028.00	71,021,233.00	71,021,233.00	-	87,235,986.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-0.63	-0.35	-0.31	-	-0.24
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	133.74%	-100.00%	0.00%	0.00%	-100.00%
EBITDA Growth	0.00%	-475.07%	92.10%	146.28%	1,279.54%	-118.18%
EBIT Growth	0.00%	-475.07%	27.23%	9.88%	95.39%	-1,942.29%
NOPAT Growth	0.00%	-475.07%	27.23%	9.88%	124.73%	-262.07%
Net Income Growth	0.00%	-492.51%	-83.80%	43.19%	90.73%	-1,242.00%
EPS Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	0.00%	-472.18%	125.63%	46.11%	52.16%	24.33%
Free Cash Flow Firm Growth	0.00%	0.00%	89.42%	233.13%	-61.11%	-160.03%
Invested Capital Growth	0.00%	357.78%	-1.03%	-23.15%	-3.52%	-5.66%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	37.00%	35.33%	0.00%	0.00%	27.84%	0.00%
EBITDA Margin	-9.49%	-23.34%	0.00%	0.00%	4.68%	0.00%
Operating Margin	-9.49%	-23.34%	0.00%	0.00%	1.51%	0.00%
EBIT Margin	-9.49%	-23.34%	0.00%	0.00%	-0.28%	0.00%
Profit (Net Income) Margin	-7.63%	-19.34%	0.00%	0.00%	-0.74%	0.00%
Tax Burden Percent	80.45%	82.89%	209.36%	131.97%	86.54%	175.81%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	306.69%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-11.90%	-24.54%	0.00%	0.00%	3.24%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-13.89%	-37.43%	0.00%	0.00%	-31.60%	0.00%
Return on Net Nonoperating Assets (RNNOA)	-113.82%	-20.18%	0.00%	0.00%	-5.97%	0.00%
Return on Equity (ROE)	-125.72%	-44.72%	-43.03%	-27.44%	-2.72%	-41.28%
Cash Return on Invested Capital (CROIC)	0.00%	-152.82%	-9.90%	14.98%	6.82%	-7.00%
Operating Return on Assets (OROA)	-11.31%	-27.17%	0.00%	0.00%	-0.60%	0.00%
Return on Assets (ROA)	-9.10%	-22.52%	0.00%	0.00%	-1.59%	0.00%
Return on Common Equity (ROCE)	-87.12%	-38.61%	-36.41%	-21.73%	-1.99%	-30.61%
Return on Equity Simple (ROE_SIMPLE)	-181.44%	-23.80%	-45.31%	-31.13%	-2.66%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.15	-24	-17	-16	3.87	-15
NOPAT Margin	-6.64%	-16.34%	0.00%	0.00%	1.05%	0.00%
Net Nonoperating Expense Percent (NNEP)	1.99%	12.90%	90.64%	43.06%	34.84%	88.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-10.92%	2.55%	-11.07%
Cost of Revenue to Revenue	63.00%	64.67%	0.00%	0.00%	74.77%	0.00%
SG&A Expenses to Revenue	7.54%	8.46%	0.00%	0.00%	16.98%	0.00%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	46.49%	58.66%	0.00%	0.00%	23.72%	0.00%
Earnings before Interest and Taxes (EBIT)	-5.93	-34	-25	-22	-1.03	-21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-5.93	-34	-2.69	1.25	17	-3.52
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.81	1.42	2.72	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	28.06	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	0.00	0.55	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.81	1.25	2.08	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.00	0.67	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	122.02	14.21	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	63.10	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	18.25	14.87	15.71	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	7.26	30.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	9.69	0.34	0.38	0.49	0.45	0.80
Long-Term Debt to Equity	6.45	0.30	0.27	0.30	0.27	0.63
Financial Leverage	8.19	0.54	0.32	0.30	0.19	0.28
Leverage Ratio	13.81	1.99	1.66	1.72	1.72	2.40
Compound Leverage Factor	13.81	1.99	1.66	1.72	5.27	2.40
Debt to Total Capital	90.65%	25.27%	27.76%	32.83%	31.14%	44.42%
Short-Term Debt to Total Capital	30.32%	3.22%	8.51%	12.56%	12.71%	9.58%
Long-Term Debt to Total Capital	60.33%	22.05%	19.25%	20.27%	18.42%	34.84%
Preferred Equity to Total Capital	0.00%	7.45%	10.28%	15.45%	19.17%	22.72%
Noncontrolling Interests to Total Capital	2.87%	2.36%	2.53%	1.06%	1.06%	8.21%
Common Equity to Total Capital	6.48%	64.92%	59.43%	50.66%	48.63%	44.01%
Debt to EBITDA	-6.20	-1.22	-16.95	37.78	2.75	-16.67
Net Debt to EBITDA	-5.24	-0.88	-10.12	20.36	0.77	-6.95
Long-Term Debt to EBITDA	-4.13	-1.06	-11.76	23.33	1.63	-13.07
Debt to NOPAT	-8.86	-1.74	-2.63	-3.01	12.19	-4.01
Net Debt to NOPAT	-7.49	-1.26	-1.57	-1.62	3.43	-1.67
Long-Term Debt to NOPAT	-5.90	-1.52	-1.82	-1.86	7.22	-3.15
Altman Z-Score	0.00	0.00	-0.67	-0.76	2.65	0.00
Noncontrolling Interest Sharing Ratio	30.71%	13.66%	15.40%	20.80%	27.08%	25.85%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.82	1.13	1.07	1.18	1.40	1.37
Quick Ratio	0.45	0.53	0.56	0.65	0.82	0.54
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-149	-16	21	8.14	-7.97
Operating Cash Flow to CapEx	0.00%	0.00%	122.95%	245.13%	263.79%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	2.78	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	5.32	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	3.30	0.00
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	1.19	1.16	0.00	0.00	2.13	0.00
Accounts Receivable Turnover	29.10	35.81	0.00	0.00	93.81	0.00
Inventory Turnover	9.20	0.00	0.00	0.00	13.81	0.00
Fixed Asset Turnover	9.94	11.13	0.00	0.00	18.71	0.00
Accounts Payable Turnover	8.17	0.00	0.00	0.00	17.09	0.00
Days Sales Outstanding (DSO)	12.54	10.19	0.00	0.00	3.89	0.00
Days Inventory Outstanding (DIO)	39.68	0.00	0.00	0.00	26.43	0.00
Days Payable Outstanding (DPO)	44.68	0.00	0.00	0.00	21.36	0.00
Cash Conversion Cycle (CCC)	7.54	10.19	0.00	0.00	8.96	0.00
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	35	160	158	121	117	111
Invested Capital Turnover	1.79	1.50	0.00	0.00	3.08	0.00
Increase / (Decrease) in Invested Capital	0.00	125	-1.64	-37	-4.27	-6.63
Enterprise Value (EV)	0.00	0.00	128	152	244	0.00
Market Capitalization	0.00	0.00	79	103	200	0.00
Book Value per Share	$0.00	$1.96	$1.80	$1.02	$1.04	$0.67
Tangible Book Value per Share	$0.00	($0.15)	($0.16)	($0.03)	$0.10	($0.39)
Total Capital	41	164	164	143	152	132
Total Debt	37	41	46	47	47	59
Total Long-Term Debt	24	36	32	29	28	46
Net Debt	31	30	27	25	13	24
Capital Expenditures (CapEx)	0.00	0.00	5.69	4.17	5.89	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3.39	-1.59	-1.38	3.87	2.80	4.86
Debt-free Net Working Capital (DFNWC)	9.08	9.72	17	26	37	39
Net Working Capital (NWC)	-3.22	4.44	3.02	7.57	17	26
Net Nonoperating Expense (NNE)	0.62	4.40	35	14	6.60	22
Net Nonoperating Obligations (NNO)	31	37	39	25	13	37
Total Depreciation and Amortization (D&A)	0.00	0.00	22	24	18	17
Debt-free, Cash-free Net Working Capital to Revenue	5.43%	-1.09%	0.00%	0.00%	0.76%	0.00%
Debt-free Net Working Capital to Revenue	14.53%	6.65%	0.00%	0.00%	10.00%	0.00%
Net Working Capital to Revenue	-5.15%	3.04%	0.00%	0.00%	4.75%	0.00%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	($0.04)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	0.00	54.36M	71.02M	71.02M	80.79M	87.24M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($0.04)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	0.00	54.36M	71.02M	71.02M	80.79M	87.24M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	54.36M	71.02M	71.02M	80.79M	87.24M
Normalized Net Operating Profit after Tax (NOPAT)	-3.78	-22	-17	-16	6.36	-15
Normalized NOPAT Margin	-6.05%	-15.28%	0.00%	0.00%	1.73%	0.00%
Pre Tax Income Margin	-9.49%	-23.34%	0.00%	0.00%	-0.86%	0.00%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	-0.35	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	1.32	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-2.37	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-0.69	0.00
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

No quarterly metrics and ratios for High Tide are available.

Financials Breakdown Chart

High Tide Financials - Frequently Asked Questions

According to the most recent income statement we have on file, High Tide's financial year ends in October. Their financial year 2025 ended on October 31, 2025.

High Tide's net income appears to be on an upward trend, with a most recent value of -$36.69 million in 2025, rising from -$4.77 million in 2020. The previous period was -$2.73 million in 2024. See where experts think High Tide is headed by visiting High Tide's forecast page.

High Tide's total operating income in 2025 was -$20.87 million, based on the following breakdown:

Total Gross Profit: $109.59 million
Total Operating Expenses: $20.87 million

Over the last 5 years, High Tide's total revenue changed from $62.51 million in 2020 to $0.00 in 2025, a change of -100.0%.

High Tide's total liabilities were at $175.79 million at the end of 2025, a 143.3% increase from 2024, and a 303.1% increase since 2020.

In the past 5 years, High Tide's cash and equivalents has ranged from $5.65 million in 2020 to $34.18 million in 2025, and is currently $34.18 million as of their latest financial filing in 2025.

Over the last 5 years, High Tide's book value per share changed from 0.00 in 2020 to 0.67 in 2025, a change of 66.6%.

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Financial statements for NASDAQ:HITI last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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High Tide (HITI) Financials

Financials Breakdown Chart

High Tide Financials - Frequently Asked Questions

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High Tide (HITI) Financials

Annual Income Statements for High Tide

Quarterly Income Statements for High Tide

Annual Cash Flow Statements for High Tide

Quarterly Cash Flow Statements for High Tide

Annual Balance Sheets for High Tide

Quarterly Balance Sheets for High Tide

Annual Metrics And Ratios for High Tide

Quarterly Metrics And Ratios for High Tide

Financials Breakdown Chart

High Tide Financials - Frequently Asked Questions

When does High Tide's fiscal year end?

How has High Tide's net income changed over the last 5 years?

What is High Tide's operating income?

How has High Tide's revenue changed over the last 5 years?

How much debt does High Tide have?

How much cash does High Tide have?

How has High Tide's book value per share changed over the last 5 years?

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