High Tide (HITI) Cost of Revenue (2020 - 2026)
High Tide (HITI) recorded Cost of Revenue of $94.92 million in fiscal Q2 2026 (quarter ended Apr 30, 2026), up 32.0% from $71.91 million a year earlier but down 1.1% from the prior quarter.
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Analysis
High Tide (HITI) Cost of Revenue (2020 - 2026) Analysis & Trends
On a TTM basis, High Tide's Cost of Revenue came in at $349.8 million as of Apr 30, 2026, up 21.7% year-over-year; for FY2025 (ended Oct 31, 2025), it came in at $313.98 million, up 12.5% from FY2024.
- Annual Cost of Revenue has increased for five straight fiscal years, with a five-year compound annual growth rate of 51.8% (FY2020 to FY2025).
- Across earlier fiscal years, Cost of Revenue came in at $279.13 million in FY2024 (+5.6%), $264.3 million in FY2023 (+32.8%), $198.95 million in FY2022 (+113.6%) and $93.16 million in FY2021 (+138.8%).
- Quarterly Cost of Revenue has ranged from $25.55 million in fiscal Q3 2021 to $96 million in fiscal Q1 2026 over the past five years.
- On a year-over-year basis, Cost of Revenue has increased for three consecutive quarters, with growth averaging 17.3% over the last six quarters.
- The year-over-year growth in Cost of Revenue has ranged between 2.6% (fiscal Q2 2024) and 139.9% (fiscal Q3 2021) over the last five years.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 292.24 Bn | 273.81 Bn | 7.66 Bn | 3.53 Bn |
| 2 | British American Tobacco p.l.c | 121.70 Bn | 100.85 Bn | - | - |
| 3 | Altria | 112.46 Bn | 98.66 Bn | 3.82 Bn | 1.54 Bn |
| 4 | Curaleaf Holdings | 2.67 Bn | 2.27 Bn | 169.91 Mn | 170.19 Mn |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 82.40 Mn |
| 6 | Trulieve Cannabis | 2.06 Bn | 674.09 Mn | 162.29 Mn | 108.66 Mn |
| 7 | Green Thumb Industries | 1.30 Bn | 155.26 Mn | 137.87 Mn | 168.81 Mn |
| 8 | Cronos | 1.19 Bn | -2.03 Bn | 28.45 Mn | 42.15 Mn |
| 9 | Turning Point Brands | 1.12 Bn | 246.72 Mn | 93.70 Mn | 49.26 Mn |
| 10 | High Tide | 229.43 Mn | 127.72 Mn | 34.98 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Apr 30, 2026 | 94.92 Mn |
| Jan 31, 2026 | 96.00 Mn |
| Oct 31, 2025 | 86.97 Mn |
| Apr 30, 2025 | 71.91 Mn |
| Jan 31, 2025 | 75.39 Mn |
| Oct 31, 2024 | 75.09 Mn |
| Jun 30, 2024 | 65.04 Mn |
| Apr 30, 2024 | 65.61 Mn |
| Jan 31, 2024 | 68.11 Mn |
| Oct 31, 2023 | 69.41 Mn |
| Apr 30, 2023 | 63.98 Mn |
| Jan 31, 2023 | 63.68 Mn |
| Oct 31, 2022 | 59.28 Mn |
| Jul 31, 2022 | 54.12 Mn |
| Apr 30, 2022 | 46.06 Mn |
| Jan 31, 2022 | 38.90 Mn |
| Oct 31, 2021 | 28.90 Mn |
| Jul 31, 2021 | 25.55 Mn |
| Apr 30, 2021 | 20.55 Mn |
| Jan 31, 2021 | 18.31 Mn |
API Access
High Tide Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=HITI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "HITI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=HITI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();