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GrowGeneration Corp
GrowGeneration Corp. engages in the retail of hydroponic and organic specialty gardening products. The company is headquartered in Greenwood Village, Colorado and currently employs 634 full-time employees. The company went IPO on 2016-10-10. The firm also focuses on other indoor and outdoor growing products, that are designed and intended for growing a range of plants. The company also owns and operates e-commerce platforms, such as www.growgeneration.com and www.agron.io, Canopy Crop Management Corp, CharCoir Inc, and several private-label brands across multiple product categories from light emitting diode (LED) lighting to nutrients and additives and environmental control systems for indoor cultivation. The firm operates its business through the business units, including retail, commercial, e-commerce/omni-channel, and proprietary brands and private label. The company owns and operates a chain of approximately 61 retail hydroponic/gardening stores across 12 states.
GrowGeneration Corp. engages in the retail of hydroponic and organic specialty gardening products. The company is headquartered in Greenwood Village, Colorado and currently employs 634 full-time employees. The company went IPO on 2016-10-10. The firm also focuses on other indoor and outdoor growing products, that are designed and intended for growing a range of plants. The company also owns and operates e-commerce platforms, such as www.growgeneration.com and www.agron.io, Canopy Crop Management Corp, CharCoir Inc, and several private-label brands across multiple product categories from light emitting diode (LED) lighting to nutrients and additives and environmental control systems for indoor cultivation. The firm operates its business through the business units, including retail, commercial, e-commerce/omni-channel, and proprietary brands and private label. The company owns and operates a chain of approximately 61 retail hydroponic/gardening stores across 12 states.
Revenue Beat: GrowGeneration reported Q3 revenue of $47.3 million, exceeding its $41 million guidance and up 15.4% from the previous quarter.
Return to Profitability: The company posted positive adjusted EBITDA of $1.3 million, marking its first profitable quarter in several years and a $3.7 million improvement year-over-year.
Margin Expansion: Gross margin increased to 27.2%, up from 21.6% a year ago, driven by a higher mix of proprietary brands.
Cost Reductions: Store operating expenses fell 27.8%, and total operating expenses dropped 31.5% year-over-year.
Proprietary Brands: Sales from proprietary brands increased to 31.6% of cultivation and gardening revenue, up from 23.8% last year, with a target of 40% in 2026.
Strategic Shift: The company is transitioning from a cannabis-focused retailer to a broader controlled environment agricultural supplier, expanding into home gardening, industrial, and specialty markets.
Guidance: Q4 revenue is expected to be around $40 million, with continued positive adjusted EBITDA and year-over-year revenue growth anticipated for 2026.
Strong Balance Sheet: Ended the quarter with $48.3 million in cash and no debt.
