High Tide Inc., the high-impact, retail-forward enterprise built to deliver real-world value across every component of cannabis, announced today that it placed No. 38 on the 2023 Report on Business ranking of Canada’s Top Growing Companies.
Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. High Tide earned its spot with a three-year growth of 1,040%. This follows the Company’s 2022 ranking of 21st out of 430 companies, with a three-year growth rate of 1,970%.
“The Globe and Mail, Canada’s newspaper of record, has, for the third year in a row, recognized High Tide’s exponential growth, ranking us 38th out of 425 on its annual ranking of Canada’s Top Growing Companies due to our three-year revenue growth rate of 1,040%. Receiving this honour three years running is a testament to our ability to continue to execute our strategic plan, which recently resulted in High Tide becoming one of a select few publicly traded cannabis companies in North America to report positive free cash flow,” said Raj Grover, President and Chief Executive Officer of High Tide.
“This three-year revenue growth rate was achieved without any bricks-and-mortar presence in the United States, the world’s largest and most lucrative cannabis market. As the pace of federal regulatory and legislative reform picks up, we are keenly looking forward to broadening our global ambitions by bringing our innovative discount club model to Americans. High Tide is already the fastest-growing retailer in the Americas’ according to the Financial Times, and I am confident that once the regulatory environment permits, we can exceed expectations in the U.S., as we have done in Canada, and eventually become a top five multi-state operator,” added Mr. Grover.
Canada’s Top Growing Companies is an editorial ranking that was launched in 2019. It aims to bring the accomplishments of innovative businesses in Canada to the forefront. In order to qualify for this voluntary program, companies had to complete an in-depth application process and fulfill requirements. In total, 425 companies earned a spot on this year’s ranking.
The full list of 2023 winners, along with editorial coverage, is published in the October issue of Report on Business magazine. The list is out now and online here.
“Canada’s Top Growing Companies acknowledges the drive and ingenuity displayed by Canadian business,” says Dawn Calleja, Editor of Report on Business magazine. “This year’s ranking serves as an inspiration for future business owners.”
“This year’s Report on Business magazine’s list of Top Growing Companies shows how innovative ideas always rise to the top, perhaps even more so in times of uncertainty,” says Andrew Saunders, CEO of The Globe and Mail. “The Globe and Mail congratulates this year’s winners for meeting and surpassing those economic challenges.”
About The Globe and Mail
The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.2 million readers every week in our print or digital formats, and Report on Business magazine reaches 2.7 million readers in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.
About High Tide
High Tide, Inc. is the leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world’s most powerful plant. High Tide (HITI) is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis
