It's a good Tuesday for High Tide Inc. (HITI). The cannabis retailer's stock is up more than 13% after the company dropped a trifecta of good news: record quarterly revenue, a return to profitability, an acquisition, and a fresh credit line.

Let's start with the numbers. For its fiscal second quarter, High Tide reported adjusted earnings of 1 cent per share. That might not sound like much, but it's a big swing from the 3-cent loss it posted a year ago. Revenue hit $130.7 million, up from $96.9 million. In Canadian dollars—the company's home currency—revenue reached a record 179.3 million Canadian dollars, up 30% year over year and 1% from the prior quarter. The company says this was its strongest revenue growth in 11 quarters and its fourth straight quarter of record revenue, even with seasonal weakness and fewer operating days.

The profitability story gets better. Gross profit jumped 36% year over year to a record 48.4 million Canadian dollars, with gross margin expanding to 27%—its highest level in eight quarters. Adjusted EBITDA climbed 73% to a record 13.9 million Canadian dollars, marking its fastest growth in nine quarters. Free cash flow came in at 1.5 million Canadian dollars, and operating cash flow before working capital adjustments hit a seven-quarter high of 8.8 million Canadian dollars. The company ended the quarter with 36.5 million Canadian dollars in cash and equivalents.

But High Tide isn't just sitting on its cash. The company announced a deal to acquire J. Supply Holdings, which operates as Northern Helm, adding four retail cannabis stores in Ontario. The stores are in Bowmanville, Kingston, Courtice, and Oshawa, and the price tag is about 7.74 million Canadian dollars. That's a nice little expansion for a company that's already one of Canada's largest cannabis retailers.

And to help pay for all this—and more—High Tide secured a new credit facility from Bank of Montreal worth 40 million Canadian dollars. The package includes a 25 million Canadian dollar revolving credit facility with a three-year maturity, which will refinance existing debt, support working capital, and fund acquisitions and investments. After refinancing, the company expects to have about 19 million Canadian dollars of additional borrowing capacity. There's also a 15 million Canadian dollar delayed-draw term loan to refinance existing second-lien debentures. The new facilities are expected to replace the current senior credit arrangement within about 30 days, subject to customary closing conditions.

Investors clearly liked what they saw. At the time of publication, High Tide shares were up 13.11% at $2.56.