High Tide announced that it has been awarded the top spot in the retail category on the Financial Times list of the Americas’ Fastest Growing Companies for 2023. It was also ranked 31st out of 500 companies across all categories.
The Americas’ Fastest Growing Companies 2023 ranking lists the top 500 companies in the Americas that have achieved the highest compound annual growth in revenues between 2018 and 2021. The data was collected via desk research in official sources, including publicly available earning presentations, investor relations, websites and annual reports. Across 20 countries, over 7,000 public companies were examined.
“Cannabis is such a young industry, and to be recognized as one of the top players by Financial Times, an internationally recognized publication, is a major honor. This is consistent with our growth trajectory over the last few years, as we have been named one of Canada’s top-growing companies in 2021 and 2022 by the Globe and Mail’s Report on Business magazine. Winning the top spot in the retail category speaks to our team’s dedication in executing our vision to become the clear leader and a household name in the Canadian cannabis retail landscape,” said Raj Grover, president and CEO of High Tide.
“We have always swung for the fences in everything we do. From our hypergrowth strategy, since the legalization of cannabis in Canada in late 2018, we have grown our revenues from just over $8 million dollars to our current annual run rate, which is approaching half a billion dollars. Having achieved national scale through our 151 Canna Cabana locations, we are now focusing on free cash flow generation from our operations with the objective of becoming amongst the first group of Canadian cannabis companies to generate free cash flow. We are thrilled to see our company continue to be recognized by international publications for its efforts, and for this, we are deeply grateful. A huge thank you goes out to Financial Times and Statista for this honor. I also want to take this opportunity to thank every member of our relentless team and our loyal customers, without whom this exponential growth would not be possible,” said Grover.
High Tide, Inc. is a leading community-grown, retail-forward cannabis enterprise engineered to unleash the full value of the world’s most powerful plant. The company is uniquely-built around the cannabis consumer, with wholly-diversified and fully-integrated operations across all components of cannabis.