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GRWG

GrowGeneration Corp.

GRWG

GrowGeneration Corp. • NASDAQ
$1.55 ▼ -0.64% (-0.01)
Market Cap $92.76 M
52w High $2.16
52w Low $0.82
Dividend Yield 0%
P/E -2.31
Volume 102.65K
Outstanding Shares 59.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $47.254M ▲ $15.698M ▼ $-2.437M ▲ -5.157% ▲ $-0.04 ▲ $252K ▲
Q2-2025 $40.963M ▲ $16.868M ▼ $-4.811M ▲ -11.745% ▲ $-0.081 ▲ $-2.124M ▲
Q1-2025 $35.703M ▼ $19.581M ▼ $-9.377M ▲ -26.264% ▲ $-0.16 ▲ $-5.792M ▲
Q4-2024 $37.436M ▼ $30.062M ▲ $-23.342M ▼ -62.352% ▼ $-0.39 ▼ $-16.127M ▼
Q3-2024 $50.006M $22.901M $-11.435M -22.867% $-0.19 $-6.506M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $48.31M ▼ $159.605M ▼ $54.901M ▲ $104.704M ▼
Q2-2025 $48.708M ▼ $160.61M ▼ $53.889M ▲ $106.721M ▼
Q1-2025 $52.578M ▼ $164.232M ▼ $53.073M ▼ $111.159M ▼
Q4-2024 $56.455M ▲ $174.352M ▼ $54.259M ▼ $120.093M ▼
Q3-2024 $55.223M $199.639M $56.474M $143.165M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-2.437M ▲ $-499K ▲ $4.546M ▲ $-1K ▲ $4.046M ▲ $-646K ▲
Q2-2025 $-4.811M ▲ $-2.921M ▲ $-6.461M ▼ $-51K ▲ $-9.433M ▼ $-2.97M ▲
Q1-2025 $-9.377M ▲ $-3.829M ▼ $9.16M ▲ $-60K ▼ $5.271M ▲ $-4.066M ▼
Q4-2024 $-23.342M ▼ $1.074M ▼ $-991K ▼ $-48K ▲ $35K ▲ $976K ▲
Q3-2024 $-11.435M $1.171M $535K $-1.848M $-142K $707K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Storage Solutions
Storage Solutions
 $10.00M ▲$0 ▼$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has come down noticeably from its peak a few years ago, essentially returning to around the same scale as 2020. That tells a story of a boom period followed by a reset, which is common in cannabis-adjacent and hydroponics markets. Gross profit as a share of sales has held up reasonably, but not enough to cover operating costs, so the company has posted operating losses for several years in a row. The size of those losses has narrowed recently, suggesting cost-cutting and restructuring are having some effect, but the business is still not back to consistent profitability. Earnings per share follow the same pattern: a brief profitable stretch, then several years of losses while the company tries to right-size itself to a cooler market.

Balance Sheet

Balance Sheet The balance sheet shows a company that built up its asset base during the expansion years and has since slimmed down. Total assets and shareholder equity are lower than at the peak, reflecting write-downs, store rationalizations, or a pullback in growth investments. Cash is modest but relatively stable in the last couple of years, while debt remains present but not outsized relative to the overall balance sheet. Overall, the company looks less flush than it did during the boom, but not overly burdened by debt, which gives some flexibility if management can stabilize the business.

Cash Flow

Cash Flow Cash generation has been roughly at break-even from operations, with only small positive or negative swings year to year. Free cash flow has hovered around zero to slightly negative, helped by relatively low spending on new equipment and facilities in recent years. This pattern suggests a company in “preservation mode”: carefully managing working capital and investments to conserve cash rather than aggressively expanding. The key issue is that cash flow is not yet clearly and consistently positive, so the business remains sensitive to any further downturn in sales or margin pressure.

Competitive Edge

Competitive Edge GrowGeneration’s competitive position rests on three main pillars: its national retail footprint, its proprietary product brands, and its integrated B2B platform for commercial growers. The store network and knowledgeable staff give it strong relationships with serious cultivators, while its in-house brands in nutrients, lighting, and growing media can deepen loyalty and support better margins versus reselling third-party products. The B2B Pro Portal and commercial services team extend this into more of a partnership model rather than simple retail. Against that, the company operates in a fragmented, cyclical, and heavily influenced cannabis ecosystem, where customer demand and pricing can be volatile, and local competitors or direct-to-grower channels can chip away at share. Its moat is real but not unassailable, and it depends on continuing to deliver superior value and service to professional growers.

Innovation and R&D

Innovation and R&D Innovation is a clear strategic focus. GrowGeneration is pushing its own brands in nutrients, lighting, and growing media, all designed to improve yields, lower operating costs, and simplify cultivation for both small and large growers. The emphasis on fully soluble nutrients, energy‑efficient LED lighting, and high-quality coir substrates shows a practical, grower-first R&D approach. The B2B Pro Portal is another important innovation, digitizing procurement and making it easier for commercial clients to work with the company. Looking ahead, new pest-management products, expanded growing-medium lines, and continued development of proprietary brands are central to the shift toward a product-driven, higher-margin model. The risk is execution: translating product ideas into widely adopted, profitable lines in a market that can be slow to switch from familiar brands.

Summary

GrowGeneration looks like a company that expanded quickly during a hot market, then had to adjust when conditions cooled. Revenue and profits have come down from earlier highs, and the business is still working through a period of losses, though those losses appear to be narrowing. The balance sheet is leaner than it was at the peak but not heavily indebted, while cash flow is roughly flat, indicating cautious management of resources rather than aggressive growth. Competitively, the firm benefits from its national store base, strong grower relationships, and growing stable of proprietary brands and digital tools, all of which can support better margins and stickier customers if they continue to gain traction. Its innovation strategy is well defined and aligned with key industry trends like efficiency, sustainability, and professionalization of cultivation. The main uncertainties revolve around the broader hydroponics and cannabis cycles, the pace at which proprietary products can offset softer overall demand, and the company’s ability to return to consistent, durable profitability.

NEWS

October 23, 2025 · 8:00 AM UTC

GrowGeneration Announces Third Quarter 2025 Earnings Release Conference Call for November 6, 2025

Read more