GRWG

MKT CAP:$81M

GrowGeneration Corp.

Market Cap

$81M

Consumer Cyclical·Specialty Retail·🇺🇸 United States·NASDAQ

Consumer Cyc.·Specialty Retail·🇺🇸·NASDAQ

Stock Price

$1.42-$0.12 (-7.79%)

Apr 23, 2026

Company Details

GrowGeneration Corp., through its subsidiaries, owns and operates retail hydroponic and organic gardening stores in the United States. It engages in the marketing and distribution of nutrients, growing media, advanced indoor and greenhouse ...

CEO

Darren Lampert

IPO Date

Feb 7, 2018

Website

www.growgeneration.com

Key Metrics TTM

Revenue

$162M

-14.4% YoY

Net Income

-$24M

EPS (Diluted)

-$0.40

Free Cash Flow

-$10M

Revenue / Share

$2.70

Gross Margin

19.8%

Operating Margin

-15.0%

Net Margin

-14.9%

FCF Margin

-6.2%

P/S

0.5x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 20, 2026

$162M-14.4%EPS -$0.40

Q4 2025

Mar 20, 2026

$38M+1.0%EPS -$0.12

Q3 2025

Nov 6, 2025

$47M-5.5%EPS -$0.04

Q2 2025

Aug 11, 2025

$41M-23.5%EPS -$0.08

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$82M	$22M	-$7M
Q2 22	$71M	$20M	-$9M
Q3 22	$71M	$18M	-$8M
Q4 22	$54M	$10M	-$16M
Q1 23	$57M	$16M	-$7M
Q2 23	$64M	$17M	-$6M
Q3 23	$56M	$16M	-$8M
Q4 23	$49M	$12M	-$27M
Q1 24	$48M	$12M	-$9M
Q2 24	$54M	$14M	-$7M
Q3 24	$50M	$11M	-$12M
Q4 24	$37M	$6M	-$24M
Q1 25	$36M	$10M	-$10M
Q2 25	$41M	$12M	-$5M
Q3 25	$47M	$13M	-$3M
Q4 25	$38M	-$2M	-$6M

Valuation

Quarter	P/S	P/E
Q1 22	1.3x	363.9x
Q2 22	0.7x	—
Q3 22	0.7x	—
Q4 22	0.9x	—
Q1 23	0.8x	—
Q2 23	0.9x	—
Q3 23	0.7x	—
Q4 23	0.7x	—
Q1 24	0.8x	—
Q2 24	0.6x	—
Q3 24	0.6x	—
Q4 24	0.5x	—
Q1 25	0.4x	—
Q2 25	0.3x	—
Q3 25	0.8x	—
Q4 25	0.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$2M	-$7M
Q2 22	$4M	-$599.0K
Q3 22	$8M	$6M
Q4 22	$2M	$817.0K
Q1 23	$3M	-$19.0K
Q2 23	$4M	$2M
Q3 23	-$5M	-$5M
Q4 23	-$1M	-$2M
Q1 24	-$4M	-$4M
Q2 24	-$368.0K	-$1M
Q3 24	$1M	$707.0K
Q4 24	$1M	$976.0K
Q1 25	-$4M	-$4M
Q2 25	-$3M	-$3M
Q3 25	-$499.0K	-$646.0K
Q4 25	-$2M	-$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$4M
Q2 22	$4M
Q3 22	$3M
Q4 22	$1M
Q1 23	$3M
Q2 23	$2M
Q3 23	$462.0K
Q4 23	$703.0K
Q1 24	$355.0K
Q2 24	$1M
Q3 24	$464.0K
Q4 24	$98.0K
Q1 25	$237.0K
Q2 25	$49.0K
Q3 25	$147.0K
Q4 25	$103.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-9.2%	+8.1%
Q2 22	-43.5%	-31.1%
Q3 22	-38.9%	-29.1%
Q4 22	-39.9%	-28.1%
Q1 23	-30.5%	-27.8%
Q2 23	-10.1%	-12.3%
Q3 23	-21.4%	-19.3%
Q4 23	-9.2%	+9.2%
Q1 24	-15.7%	-10.8%
Q2 24	-16.3%	-14.5%
Q3 24	-10.2%	-2.5%
Q4 24	-24.3%	-19.9%
Q1 25	-25.4%	-20.5%
Q2 25	-23.5%	-23.0%
Q3 25	-5.5%	-19.3%
Q4 25	+1.0%	-28.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	1.9%
Q2 22	$1M	1.6%
Q3 22	$1M	1.8%
Q4 22	$987.0K	1.8%
Q1 23	$567.0K	1.0%
Q2 23	$947.0K	1.5%
Q3 23	$938.0K	1.7%
Q4 23	$719.0K	1.5%
Q1 24	$778.0K	1.6%
Q2 24	$654.0K	1.2%
Q3 24	$672.0K	1.3%
Q4 24	$317.0K	0.8%
Q1 25	$503.0K	1.4%
Q2 25	$315.0K	0.8%
Q3 25	$421.0K	0.9%
Q4 25	$274.0K	0.7%

OpEx Breakdown

Quarter	SG&A
Q1 22	$10M
Q2 22	$11M
Q3 22	$9M
Q4 22	$9M
Q1 23	$7M
Q2 23	$8M
Q3 23	$8M
Q4 23	$8M
Q1 24	$8M
Q2 24	$7M
Q3 24	$7M
Q4 24	$7M
Q1 25	$7M
Q2 25	$6M
Q3 25	$13M
Q4 25	$7M

Revenue Segments

Quarter	Distribution And Other	Ecommerce Sales	Sales At Company Owned Stores	Distribution And Other Segment	Ecommerce Segment	Retail Segment
Q1 22	$12M	$5M	$64M	—	—	—
Q2 22	$12M	$4M	$55M	—	—	—
Q3 22	$20M	$3M	$48M	—	—	—
Q4 22	—	—	—	$14M	$3M	$38M
Q1 23	—	—	—	$14M	$3M	$39M
Q2 23	—	—	—	$13M	$4M	$47M
Q3 23	—	—	—	$12M	$3M	$41M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$47M	$19M	$66M
Q2 22	$56M	$10M	$66M
Q3 22	$71M	$0	$71M
Q4 22	$40M	$32M	$72M
Q1 23	$63M	$9M	$72M
Q2 23	$30M	$41M	$71M
Q3 23	$31M	$35M	$67M
Q4 23	$30M	$35M	$65M
Q1 24	$31M	$30M	$61M
Q2 24	$28M	$28M	$56M
Q3 24	$27M	$28M	$55M
Q4 24	$27M	$29M	$56M
Q1 25	$33M	$20M	$53M
Q2 25	$23M	$25M	$49M
Q3 25	$27M	$21M	$48M
Q4 25	$30M	$16M	$46M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	60M	+2.9%	-0.3%
Q2 22	61M	+1.0%	+0.9%
Q3 22	61M	+0.2%	+2.3%
Q4 22	61M	+0.3%	+4.5%
Q1 23	61M	-0.1%	+1.5%
Q2 23	61M	+0.1%	+0.5%
Q3 23	61M	+0.3%	+0.7%
Q4 23	61M	+0.2%	+0.5%
Q1 24	61M	+0.2%	+0.8%
Q2 24	61M	-1.3%	-0.6%
Q3 24	59M	-2.3%	-3.3%
Q4 24	59M	+0.0%	-3.4%
Q1 25	59M	+0.3%	-3.3%
Q2 25	60M	+0.2%	-1.9%
Q3 25	60M	+0.4%	+0.9%
Q4 25	60M	+0.2%	+1.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$116.5K	702
Q2 22	$101.3K	702
Q3 22	$100.9K	702
Q4 22	$119.7K	455
Q1 23	$124.9K	455
Q2 23	$140.5K	455
Q3 23	$122.4K	455
Q4 23	$123.6K	400
Q1 24	$119.7K	400
Q2 24	$133.8K	400
Q3 24	$125.0K	400
Q4 24	$122.3K	306
Q1 25	$116.7K	306
Q2 25	$133.9K	306
Q3 25	$154.4K	306
Q4 25	$149.5K	253

Revenue / Employee