Operator

Good morning. My name is Ina, and I will be your conference operator today. At this time, I would like to welcome everyone to the High Tide First Fiscal Quarter 2026 Unaudited Financial and Operational Results Conference Call.

[Operator Instructions]

Mr. Brownlee, you may begin your conference.

Carter Brownlee
Communications & Public Affairs Advisor

Thank you, operator. Good morning, everyone, and welcome to High Tide Inc.’s quarterly earnings call. Joining me on the call today are Mr. Raj Grover, President and Chief Executive Officer; and Mr. Mayank Mahajan, Chief Financial Officer.

On March 17, 2026, the company released financial and operational results for the fiscal quarter that ended January 31, 2026. Before we begin, please let me remind you that during the course of this conference call, High Tide’s management may make statements, including with respect to management’s expectations or estimates of future performance. All such statements other than statements of historical facts constitute forward-looking information or forward-looking statements within the meaning of the applicable securities laws and are based on assumptions, expectations, estimates and projections as of the date hereof.

Specific forward-looking statements include, without limitation, all disclosures regarding future results of operations, economic conditions and anticipated courses of action. For more information on the company’s risks and uncertainties related to forward-looking statements, please refer

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FAIRBANKS, Alaska — Skywatchers across much of the northern United States and Canada have a prime opportunity to witness the northern lights, or aurora borealis, tonight into early Friday morning as a powerful geomagnetic storm impacts Earth, according to the National Oceanic and Atmospheric Administration’s Space Weather Prediction Center.

The SWPC issued a G2 (moderate) geomagnetic storm watch for March 19 (UTC), which corresponds to late March 18 and early March 19 local time in North America. Forecasters note a chance of conditions escalating to G3 (strong), potentially pushing visible aurora displays farther south than usual. Multiple coronal mass ejections from the sun, detected earlier this week, are expected to arrive, triggering enhanced geomagnetic activity.

The storm’s effects could begin as early as 11 p.m. EDT on March 18 (0300 GMT March 19), with peak moderate G2 conditions most likely between 2 a.m. and 8 a.m. EDT (0600-1200 GMT). The Kp index, a measure of global geomagnetic activity on a scale of 0 to 9, is forecasted to reach around 6 or higher during the peak, expanding the auroral oval southward.

Under these conditions, the aurora viewline — the southernmost boundary for visibility — stretches across states including Alaska, Washington, Oregon, Idaho, Montana, North Dakota, South Dakota, Minnesota, Wisconsin, Michigan, New York, Vermont, New Hampshire and Maine. If G3 levels materialize, sightings become possible low on the northern horizon from northern parts of Illinois, Iowa, Nebraska, Indiana, Ohio, Pennsylvania, Massachusetts, Connecticut and Rhode Island — a rare treat for mid-latitude observers.

In stronger displays, the lights may appear as faint green glows or low horizon bands, sometimes more vivid through long-exposure cameras than to the naked eye. Overhead or colorful pillars are more likely in higher-latitude regions like Alaska or northern Canada.

The best viewing windows fall between 10 p.m. and 2 a.m. local time, though activity can persist or shift. Clear, dark skies away from light pollution are essential. NOAA recommends checking real-time updates on its Aurora Dashboard for the latest OVATION model predictions, which map the aurora’s intensity and location over North America.

Prime locations for tonight include:

– **Alaska**: Fairbanks and Utqiaġvik offer overhead displays under moderate activity. The Geophysical Institute at the University of Alaska Fairbanks provides live all-sky cameras for remote monitoring.

– **Northern U.S. states**: Head to rural areas or state parks with northern views. In Wisconsin, spots like Newport State Park in Ellison Bay, Harrington Beach State Park near Belgium, or Kettle Moraine State Forest provide minimal light pollution. Similar dark-sky sites in Michigan’s Upper Peninsula, Minnesota’s Boundary Waters, or Maine’s Acadia National Park (away from town lights) boost chances.

– **Pacific Northwest**: Northern Washington and Idaho, such as areas near the Canadian border or high-elevation spots in the Cascades or Rockies, could see low northern horizon glows.

– **Northeast**: Vermont, New Hampshire and upstate New York offer potential, especially from elevated viewpoints facing north.

Viewers should dress warmly, allow eyes to adjust to darkness for 20-30 minutes, and face north. Apps like Aurora Forecast or spaceweatherlive.com provide alerts, while NOAA’s 30-minute aurora forecast offers short-term predictions.

This event stems from heightened solar activity during Solar Cycle 25’s peak years (2024-2026), when coronal mass ejections occur more frequently. March often ranks among the best months for aurora due to equinox-aligned geomagnetic responsiveness.

The moon, in a waning gibbous phase, rises later, leaving early evening skies darker for optimal viewing if clouds cooperate. Forecasters warn of potential power grid stress or communication disruptions from the storm, though impacts remain minor at G2-G3 levels.

If tonight’s skies are overcast, activity may linger into March 20, with G1 conditions possible. Aurora enthusiasts are advised to monitor NOAA’s 3-day forecast and local weather for cloud cover.

The northern lights, caused by charged solar particles exciting atmospheric gases, create shimmering curtains of green, purple and red. Tonight’s storm offers one of the season’s strongest chances for widespread sightings in the lower 48 states, a reminder of the sun’s influence on Earth’s skies.

Advertising technology firm Trade Desk’s shares tumbled on Wednesday as Wall Street analysts downgraded the stock after French ad giant Publicis Groupe advised its clients against using the company’s platform.

The stock slid over 5%, adding to Tuesday’s 7.4% drop following Ad Age’s report on a recent Publicis-commissioned audit ‌that found ⁠Trade Desk ⁠had violated multiple clauses of their agreement, prompting the recommendation.

Trade Desk charged multiple fees that exceeded the limits of the agreement and opted clients into extra features without consent, the report said, citing the audit.

Publicis, in an emailed statement on Wednesday, confirmed the report, saying that “an experienced independent auditor concluded that Trade Desk did not pass the audit. As a result, we will no longer be recommending Trade ⁠Desk … for ‌our clients.”

Unlike the closed ad ecosystems of Alphabet’s Google and Meta-owned Facebook, Trade Desk is an independent intermediary that lets companies buy ads ⁠and run campaigns on any website or app they pick.

Trade Desk said it is “aware of questions related to a Publicis audit process.” But it added that “any notion that TTD failed an audit is not true.”
Publicis’ request “included asks for data that would violate customer and partner confidentiality agreements,” Trade Desk said, but added that it would work with the company to provide workable alternatives and other detailed information. Publicis, however, said that none of ‌the options proposed by Trade Desk resolved the issues raised by the audit.

At least two brokerages downgraded Trade Desk following the news, while three lowered their price targets. ⁠The stock has fallen nearly 34.7% this year, following a 68% decline in 2025.

“We’re not quite sure how conservative current 2026 estimates might be if the company does, in fact, lose some of its client base as a result of this audit,” brokerage Stifel said.

The company faces stiff competition from so-called “walled gardens” that integrate content, commerce and user data to attract advertisers. Amazon’s ad-buying platform, in particular, with its vast trove of shopper data, has become a formidable rival.

Spot gold continued to trade lower after the Federal Reserve’s latest policy decision on Wednesday, having hit a more than one-month low due to a stronger dollar and expectations for interest rates to remain higher for longer amid ‌the ongoing ⁠Middle East ⁠conflict.

Spot gold fell 2.9% to $4,860.21 per ounce by 2:58 p.m. ET (1858 GMT), after hitting its lowest level since February 6 earlier in the session. U.S. gold futures for April delivery settled 2.2% lower at $4,896.20.

The U.S. dollar strengthened, making gold less affordable for holders of other currencies.

The Fed held rates steady, as was widely expected, citing somewhat elevated inflation and giving little indication when it might next cut short-term borrowing costs. ⁠Fed officials’ economic ‌projections indicated they expect to cut rates once again this year.

Meanwhile, Federal Reserve Chair Jerome Powell said the latest round of Fed forecasts are ⁠a bit of a shot in the dark given uncertainty created by the Iran war.

“Powell signalled strongly that the Fed is on the sidelines and his gentle dovish hints were not nearly enough to cheer assets or gold, which has been trading like a risky asset. If the market was hoping for a Fed ready to “help” – they didn’t get it,” said Tai Wong, an independent metals trader.
“Gold’s slump under $5,000/oz could be technically troubling, but still ‌won’t impact long-term bullishness.” Gold is a traditional safe haven in times of uncertainty but tends to underperform when rates are high, as it yields no interest.

Meanwhile, a Labor Department report ⁠showed U.S. producer prices increased more than expected in February, and could accelerate further due to the war.

Nearly three weeks into the Iran conflict, there is little sign of de-escalation, keeping benchmark Brent futures above $100 a barrel.

Iran’s huge Pars gas field was hit on Wednesday, a major escalation, prompting Tehran to announce it would respond with attacks on oil and gas targets throughout the Gulf.

In other metals, spot silver fell 4.2% to $75.99, platinum was down 3.9% at $2,041.30, and palladium lost 6.1% to $1,503.97.

CANTERBURY, England — A rapidly spreading outbreak of invasive meningococcal disease, primarily strain B, has killed two young people and hospitalized others in Kent, southeastern England, prompting urgent public health measures, antibiotic distribution and a scramble for vaccines amid depleted private supplies.

The UK Health Security Agency (UKHSA) reported as of 3:30 p.m. on March 17, 2026, nine confirmed and 11 probable cases with epidemiological links to Canterbury, totaling 20 notifications. Six of the nine confirmed cases involve group B meningococcal disease (MenB), a severe bacterial infection causing meningitis and septicaemia. All affected individuals required hospitalization, with no additional deaths reported since the initial two fatalities announced earlier in the week.

The victims include an 18-year-old sixth-form pupil from a school in Faversham and a student at the University of Kent. Health officials link most cases to patrons of Club Chemistry nightclub in Canterbury who attended events on March 5, 6 and 7, along with associated social networks. The outbreak has extended beyond the university to at least three schools and, more recently, Canterbury Christ Church University, which confirmed its first case on March 18.

UKHSA described the cluster as “explosive” and “unprecedented” in speed and scale for the region. Deputy Chief Medical Officer Dr. Thomas Waite called it “by far the quickest-growing outbreak I’ve ever seen.” Cases surged from initial reports of 13 on March 15 to 15 by March 16 evening, then to 20 by March 17 afternoon.

Symptoms of invasive meningococcal disease include high fever, severe headache, stiff neck, nausea, vomiting, sensitivity to light, confusion and a characteristic non-blanching rash. The infection progresses rapidly, sometimes within hours, making early recognition critical. Septicaemia, or blood poisoning, often accompanies meningitis and can lead to organ failure and death even with prompt treatment.

Health Secretary Wes Streeting updated Parliament on March 17, stressing that UKHSA acted “as quickly and comprehensively as possible.” Authorities distributed preventive antibiotics — typically ciprofloxacin or rifampicin — to close contacts and at-risk individuals, including nightclub attendees from the implicated dates. Officials urged anyone present at Club Chemistry during those evenings to seek antibiotics immediately, even if asymptomatic, as a precautionary measure.

Vaccination efforts face challenges. The MenB vaccine, introduced into the UK’s routine childhood schedule in 2015, protects infants but does not cover older children, adolescents or young adults born before that year. Private supplies of the Bexsero MenB vaccine have run low due to surging demand, with pharmacies reporting shortages. The NHS has not launched a widespread catch-up campaign, though experts argue for expanded access given the outbreak’s impact on university-aged populations.

Public concern has intensified, with parents and students questioning the response speed. Some accused authorities of delays in alerting the community, though officials maintain contact tracing and prophylaxis began promptly upon confirmation. Streeting urged sticking to facts and avoiding panic, noting the outbreak remains localized.

Meningitis Now and other charities welcomed the focus on MenB but stressed ongoing work needed. The strain accounts for most recent UK cases, particularly among teens and young adults in close-contact settings like universities and nightclubs.

Broader context highlights meningitis risks in social environments. Universities see higher transmission due to shared living, parties and physical proximity. The Kent cases echo past clusters but stand out for rapid escalation.

In the United States, separate meningococcal trends continue. Chicago reported an unusual adult cluster since January 15, 2026, with 10 cases and two deaths by mid-February, primarily on the West and Southwest Sides. Nationally, U.S. cases rose sharply post-2021, reaching 503 in 2024 — the highest since 2013 — driven largely by serogroup Y increases. CDC surveillance shows ongoing elevation, though no direct link to the UK event.

Globally, meningococcal threats persist in pilgrimage settings. Saudi Arabia reported travel-associated cases linked to Umrah in early 2025, with low vaccination compliance among some pilgrims raising importation risks. The African meningitis belt continues facing seasonal epidemics, though vaccination has reduced serogroup A dominance.

The Kent outbreak underscores bacterial meningitis dangers despite vaccination progress. While MenACWY vaccines cover other strains for travelers and high-risk groups, MenB remains a challenge for adolescents outside routine programs.

Authorities continue tracing contacts and monitoring for secondary cases. Residents in Canterbury and east Kent should watch for symptoms and seek immediate medical care if concerned. UKHSA updates will track developments, with pharmacies urged to prioritize at-risk individuals for remaining vaccine stock.

As investigations proceed, the tragedy highlights the need for vigilance in crowded settings and potential policy reviews on adolescent MenB protection.

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MINNEAPOLIS — Alex Jeffrey Pretti, a 37-year-old intensive care nurse at the Minneapolis Veterans Affairs Health Care System, became a national figure after his fatal shooting by U.S. Customs and Border Protection officers on January 24, 2026, during an immigration enforcement operation in the city.

The incident, captured on bystander video and widely shared, sparked outrage, protests and a Department of Justice civil rights investigation. Pretti, a U.S. citizen with no criminal record, was recording federal agents when the confrontation escalated, leading to his death from multiple gunshot wounds. The event unfolded amid heightened federal immigration crackdowns under the Trump administration, which had deployed agents to Minneapolis and other cities.

Pretti’s death — ruled a homicide by the Hennepin County Medical Examiner — drew comparisons to other high-profile cases and prompted apologies from officials, including Sen. Markwayne Mullin, R-Okla., who regretted early comments labeling Pretti a “deranged individual.” As investigations continue, here are five essential facts about the man whose life and death have fueled national debate on federal tactics, policing and civil liberties.

1. Pretti was a dedicated ICU nurse caring for veterans

Pretti worked as a registered nurse in the intensive care unit at the Minneapolis VA hospital, where he was known for his compassion and commitment to patients. Licensed in Minnesota since 2021, he focused on critically ill veterans, often forming deep bonds with those he treated.

Colleagues described him as kind-hearted, humorous and passionate about his work. “He wanted to be helpful, to help humanity and have a career that was a force of good in the world,” one coworker told reporters. His family emphasized his devotion to service, noting he “cared deeply for the American veterans whom he cared for.” Pretti’s nursing license was active until March 31, 2026, and he had previously contributed to medical research at the University of Minnesota on topics including infection treatment and cancer therapies.

2. He grew up in Green Bay, Wisconsin, with a well-rounded youth

Born in 1988 in Park Ridge, Illinois, Pretti spent much of his childhood in Green Bay, Wisconsin, graduating from Preble High School in 2006. He was active in sports — playing football, baseball and running track — and participated in the Green Bay Boy Choir, Boy Scouts and theater programs, including musicals with the Preble Players.

Friends recalled him as quick to smile, someone who made others feel included. A childhood choir friend described hearing Pretti sing from his open bedroom window, highlighting his vocal talent. After high school, he attended the University of Minnesota, earning a bachelor’s degree in biology, society and the environment in 2011. He worked as a research scientist before pursuing nursing.

3. Pretti was an avid outdoorsman and animal lover

Outside work, Pretti enjoyed adventure and nature, often hiking, mountain biking and exploring with his Catahoula Leopard dog, Joule, who had recently passed away. Family members described him as someone who sought outdoor experiences to recharge.

His lifestyle reflected a grounded, community-oriented personality, with no prior law enforcement interactions beyond minor traffic tickets. He lived in Minneapolis’ Lyndale neighborhood, known for its diversity, and had begun documenting federal immigration activities in the area out of concern for community impact.

4. His death occurred during a protest against federal immigration enforcement

Pretti had recently started observing and recording federal agents amid operations that disrupted neighborhoods, closed schools and led to the January 7 death of Renee Good, another U.S. citizen killed by agents. On January 24, he was filming near 26th Street and Nicollet Avenue when agents attempted an arrest unrelated to him.

Bystander videos show Pretti directing traffic, helping a fallen bystander and being sprayed with a chemical agent before being tackled. Agents confiscated his legally permitted, secured handgun, and multiple shots were fired — up to 10 in seconds, per forensic analysis. DHS initially labeled him a threat, but videos contradicted early narratives, sparking backlash.

5. Pretti’s killing sparked investigations, protests and political fallout

The incident triggered a DOJ civil rights probe into the shooting, separate from the Good case. Protests erupted nationwide under “ICE Out of Everywhere” banners, with mourners gathering at the site. Pretti’s family urged truth-seeking, calling him “a good man” who cared about people.

Sen. Mullin apologized for premature remarks during a March 18 confirmation hearing, saying he “went out there too fast.” The case became a tipping point in debates over federal tactics in sanctuary cities, galvanizing opposition and prompting administration retreats in some enforcement areas.

Pretti’s legacy endures through tributes highlighting his service, kindness and final act of standing up for others. As inquiries proceed, his story continues shaping discussions on accountability, immigration policy and the human cost of enforcement.

CHARLOTTE, N.C. — Veteran quarterback Andy Dalton, known as the “Red Rifle,” was traded from the Carolina Panthers to the Philadelphia Eagles on March 18, 2026, in exchange for a 2027 seventh-round draft pick, sources told ESPN’s Adam Schefter and other outlets. The deal came shortly after Carolina signed Kenny Pickett as backup to starter Bryce Young, making Dalton expendable despite his experience and mentorship role.

Dalton, 38, enters his 16th NFL season with the Eagles, where he is expected to serve as a reliable backup and veteran presence. The move caps an offseason of speculation about his future in Carolina, where he spent three seasons providing stability behind Young. Here are five essential facts about the longtime journeyman quarterback whose career spans multiple teams and highlights his durability and leadership.

1. Dalton’s storied career began with the Bengals and includes three Pro Bowls

Born Oct. 29, 1987, in Katy, Texas, Dalton starred at TCU, earning Mountain West Offensive Player of the Year honors twice and leading the Horned Frogs to significant wins, including over Wisconsin in the 2010 Rose Bowl. Selected by the Cincinnati Bengals in the second round (35th overall) of the 2011 NFL draft, he became a starter immediately, throwing for over 3,000 yards in each of his first three seasons — one of only 10 quarterbacks in league history to achieve that feat early in a career.

Dalton led the Bengals to five playoff appearances from 2011-2015, including two AFC North titles, and earned Pro Bowl nods in 2011, 2014 and 2015. He holds franchise records for touchdown passes (204), completions and 300-yard games. His 70 career wins with Cincinnati gave him the best winning percentage among Bengals quarterbacks with 25+ starts. After nine seasons in Cincinnati, Dalton moved to the Dallas Cowboys (2020), Chicago Bears (2021), New Orleans Saints (2022) and Carolina Panthers (2023-2025) before the Eagles trade.

2. He has been a reliable backup and mentor across multiple teams

Dalton’s journeyman status reflects his value as a veteran backup capable of stepping in with minimal drop-off. In 2025 with Carolina, he appeared in limited action, completing 25 of 37 passes for 293 yards, one touchdown and one interception in spot duty, posting an 89.1 passer rating. Over recent seasons, he maintained solid efficiency, often with passer ratings above 82 despite limited starts.

He has thrown for over 39,000 career yards and 254 touchdowns, ranking among active quarterbacks in several categories. Known for his poise and preparation, Dalton has mentored young passers like Bryce Young in Carolina, offering guidance on film study, mechanics and leadership. His low-turnover style and experience in high-pressure situations make him attractive to teams needing depth.

3. The Panthers trade frees cap space and aligns with youth movement

Carolina signed Dalton to a two-year extension in 2025, but general manager Dan Morgan signaled interest in developing a younger backup behind Young. With Pickett now in place on a one-year deal worth up to $7.5 million, the Panthers traded Dalton for minimal return — a future seventh-rounder — to clear approximately $2 million in guaranteed salary and avoid dead cap hits. The move reflects Carolina’s focus on long-term growth around Young rather than retaining a veteran in a diminished role.

Dalton was open to exploring options, and the low-cost trade provided mutual benefit: Philadelphia gains a seasoned arm for depth behind their starter, while Carolina sheds salary without major draft capital loss.

4. Dalton joins the Eagles as insurance and leadership in the locker room

The Eagles, coming off a strong 2025 campaign, added Dalton to bolster quarterback depth amid ongoing discussions about their starter’s future. At 6-foot-2 and 220 pounds, Dalton brings arm strength, accuracy on intermediate throws and experience in varied offenses. His arrival provides a bridge option if needed, while his veteran presence aids in mentoring younger players and maintaining stability.

The trade cost Philadelphia only a distant seventh-round pick, underscoring Dalton’s market value as a low-risk, high-floor addition. Analysts graded the deal positively for both sides, noting Dalton’s fit in a competitive NFC East environment.

5. At 38, Dalton continues defying age with durability and adaptability

Entering his 16th season, Dalton remains one of the league’s most durable quarterbacks, rarely missing time due to injury. His career longevity stems from smart decision-making, pocket presence and adaptability across schemes — from the Bengals’ balanced attack to the run-heavy approaches in Dallas and New Orleans, and mentoring duties in Carolina.

Despite never reaching a Super Bowl, Dalton’s consistency — including multiple 3,000-yard seasons and playoff berths — earns respect league-wide. The Eagles trade extends his career, offering a chance for late-stage impact in a contender setting.

As Dalton prepares for Philadelphia, his journey from second-round pick to respected veteran underscores resilience in a quarterback-volatile league. The low-key move highlights his enduring value as a pro’s pro ready for whatever role awaits.