Slide 1: Condensed Interim Consolidated Financial Statements
Exhibit 99.1 Condensed Interim Consolidated Financial Statements For the three and nine months ended July 31, 2026 and 2025 (Stated in thousands of Canadian dollars, except share and per share amounts) (Unaudited)
Slide 2: Management approval of financial statements
Condensed Interim Consolidated Financial Statements for the three and nine months ended July 31, 2026 and 2025. The accompanying unaudited financial statements of High Tide Inc. (“High Tide” or the “Company”) have been prepared by and are the responsibility of the Company’s management and have been
Slide 3: Condensed Interim Consolidated Statements of Financial Position
High Tide Inc. Condensed Interim Consolidated Statements of Financial Position As at July 31, 2026 and October 31, 2025 (Unaudited — In thousands of Canadian dollars) Notes 2026 2025 $ $ Assets Current assets Cash and cash equivalents 38,019 39,254 Restricted cash 17 9,103 8,629 Marketable securitie
Slide 4: Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)
High Tide Inc. Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) For the three and nine months ended July 31, 2026 and 2025 (Unaudited — In thousands of Canadian dollars, except share and per share amounts) Three months ended Nine months ended Notes 2026 2025
Slide 5: Condensed Interim Consolidated Statements of Changes in Equity
High Tide Inc. Condensed Interim Consolidated Statements of Changes in Equity For the nine months ended July 31, 2026 and 2025 (Unaudited — In thousands of Canadian dollars) Accumulated Derivative other Attributable Contributed liability - comprehensive Accumulated to owners of Share Notes capital W
Slide 6: Condensed Interim Consolidated Statements of Cash Flows
High Tide Inc. Condensed Interim Consolidated Statements of Cash Flows For the nine months ended July 31, 2026 and 2025 (Unaudited – In thousands of Canadian dollars, except share and per share amounts) Notes 2026 2025 $ $ Operating activities Net income (loss) 12,420 (4,693) Adjustments for items n
Slide 7: Nature of operations; Basis of preparation
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 1. Nature of operations High Tide Inc. (“High Tide” or the "Company") is a
Slide 8: Material accounting policies
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) D. Basis of consolidation Subsidiaries are entities controlled by High Tid
Slide 9: Significant accounting judgments; Business combinations
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) There were no new or amended IFRS Accounting Standards effective November
Slide 10: Business combinations (continued)
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) The excess of the consideration transferred over the fair value of the ide
Slide 11: Business combinations: Remexian agreement
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) and, as a result of such amendment, Remexian’s EBITDA deteriorated by more
Slide 12: Revenue from contracts with customers
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 6. Revenue from contracts with customers Effective February 1, 2026, the C
Slide 13: Property and equipment
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 7. Property and equipment Office equipment Production Leasehold and comput
Slide 14: Intangible assets and goodwill; Prepaid expenses and deposits
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 8. Intangible assets and goodwill Customer Supplier Software Licenses Bran
Slide 15: Inventory; Trade and other receivables
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 10. Inventory As at July 31, 2026 October 31, 2025 $ $ Finished goods 50,3
Slide 16: Notes payable
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 12. Notes payable As at July 31, 2026 October 31, 2025 $ $ Vendor loan ‐ R
Slide 17: Accounts payable and accrued liabilities; Deferred revenue
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) As at July 31, 2026, principal outstanding was $3,028, of which $807 was c
Slide 18: Derivative liability
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 16. Derivative liability Current derivative liability - detachable warrant
Slide 19: Interest bearing loans and borrowings
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 17. Interest bearing loans and borrowings As at July 31, 2026 October 31,
Slide 20: Loan covenants
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) During the three and nine months ended July 31, 2026, the Company also rep
Slide 21: Secured debentures; Finance and other costs
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 18. Secured debentures As at July 31, 2026 October 31, 2025 $ $ Face value
Slide 22: Share capital; Share-based compensation
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 20. Share capital Common shares: Number of shares Amount # $ Opening balan
Slide 23: Stock options
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) Changes in the number of stock options, with their weighted average exerci
Slide 24: Warrants; Income (loss) per share
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 22. Warrants Weighted Weighted average average number Expiry dates Warrant
Slide 25: Fair value of financial instruments
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) The Company assessed that the fair values of cash and cash equivalents, tr
Slide 26: Financial risk management: credit and liquidity risk
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) such as interest rates, specific country risk factors, and individual cred
Slide 27: Segmented information
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) Assuming all other variables remain constant, a fluctuation of +/‐ 5.0 per
Slide 28: Geographical markets; Related party transactions
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) b) Geographical markets Canada Canada USA USA International International
Slide 29: Related party financing; Right-of-use assets and lease liabilities
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) (b) Financing transactions On August 15, 2022, the Company entered into a
Slide 30: Capital management; Contingent liability
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) 28. Capital management The Company’s objectives when managing capital reso
Slide 31: Non-controlling interests; Subsequent events
High Tide Inc. Notes to the Condensed Interim Consolidated Financial Statements For the three months and nine months ended July 31, 2026 and 2025 (Stated — In thousands of Canadian dollars, except share and per share amounts) The net change in non‐controlling interests is as follows: July 31, 2026 J
Slide 32: Management's Discussion and Analysis
Exhibit 99.2 Management’s Discussion & Analysis For the three and nine months ended July 31, 2026 and 2025 (Stated in thousands of Canadian dollars, except share and per share amounts)
Slide 33: Established consumer brands of High Tide Inc.
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Established consumer brands of High Tide Inc. 2
Slide 34: About this MD&A; Company overview
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) About this MD&A: This management’s discussion and analysis (this “MD&A”) of High Tide Inc. (“High
Slide 35: White label initiatives; Cabana Club & ELITE
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) White Label Initiatives The Company continues to expand its white label cannabis product portfolio
Slide 36: Selected financial highlights and operating performance
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Selected financial highlights and operating performance Three months ended July 31, Nine months en
Slide 37: Revenue and gross margin
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Revenue and gross margin The following table presents product-wise revenue and consolidated gross
Slide 38: Total Expenses
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Total Expenses Three months ended July 31, Nine months ended July 31, 2026 2025 2026 2025 $ $ ▲ $
Slide 39: EBITDA and Adjusted EBITDA
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) EBITDA and Adjusted EBITDA The Company defines EBITDA and Adjusted EBITDA as per the table below.
Slide 40: Free cash flow
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Free cash flow The Company defines free cash flow as net cash provided by operating activities, le
Slide 41: Segmented operations: performance by operational segment
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Segmented operations: Effective February 1, 2026, the Company combined its bricks-and-mortar retai
Slide 42: Revenue by product and segment financial position
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Revenue by product ($, million) Revenue by product ($, million) (Three months ended July 31, 2026
Slide 43: Segment results
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) The following tables present the segment results for the three and nine months ended July 31, 2026
Slide 44: Bricks-and-mortar performance
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Bricks-and-mortar performance Three months ended July 31 Nine months ended July 31, 2026 2025 Chan
Slide 45: Medical cannabis distribution segment performance
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Medical cannabis distribution segment performance Three months ended July 31, Nine months ended Ju
Slide 46: Performance by geographical market
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Performance by geographical market: Geographical markets reflect revenue based on the geographical
Slide 47: Geographical markets: revenue contribution
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Geographical markets Revenue contribution by geographical market (%) Revenue contribution by geogr
Slide 48: Results by geographical market
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) The following table presents information by the Company’s geographical market for the three months
Slide 49: Financial position by geographical market
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) The following table presents selected financial position information by the Company’s geographical
Slide 50: Summary of quarterly results
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Summary of quarterly results The following table presents selected unaudited financial information
Slide 51: Quarterly operating expenses as a percentage of revenue
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Quarterly operating expenses as a percentage of revenue The table below shows that Operating expen
Slide 52: Quarterly trend overview
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Quarterly trend overview ($, million) 198.8 178.3 179.3 164.0 149.7 142.5 138.3 137.8 Q4 - 2024 Q1
Slide 53: Financial position, liquidity and capital resources
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Financial position, liquidity and capital resources: Assets July 31, 2026 October 31, 2025 Change
Slide 54: Cash flow overview
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Cash flow overview The following table presents a summary of the Company’s cash flow for the nine
Slide 55: Liquidity and capital resources
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Liquidity and capital resources The following table presents the maturities of the Company’s finan
Slide 56: Derivative put option liability
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Derivative put option liability The carrying value of the derivative liability, as at July 31, 202
Slide 57: Transactions between related parties; Financial instruments
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Transactions between related parties: As of July 31, 2026, the Company had the following transacti
Slide 58: Internal control over financial reporting
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Management assessed the effectiveness of the Company’s internal control over financial reporting a
Slide 59: Cautionary note regarding forward-looking information
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) • the anticipated sales from continuing operations; • the intention of the Company to complete any
Slide 60: Risk Assessment
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Additional risk factors that can cause results to differ materially from those expressed in forwar
Slide 61: Glossary of terms
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) Glossary of terms: In this MD&A, unless otherwise indicated or if the context otherwise requires,
Slide 62: About High Tide
High Tide Inc. Management's Discussion and Analysis For the three and nine months ended July 31, 2026 and 2025 (In thousands of Canadian dollars, except share and per share amounts or otherwise stated) High Tide is a high-impact, retail-forward enterprise built to deliver real-world value across eve