Welcome to our dedicated page for GROW GENERATION news (Ticker: GRWG), a resource for investors and traders seeking the latest updates and insights on GROW GENERATION stock.
GrowGeneration Corp. (symbol: GRWG) is a leading company in the United States that owns and operates retail hydroponic and organic gardening stores. The company specializes in the marketing and distribution of a wide range of horticultural, organic, lighting, and hydroponic products. These include lighting fixtures, nutrients, seeds, growing media, systems, trays, fans, filters, humidifiers and dehumidifiers, timers, instruments, water pumps, irrigation supplies, and hand tools.
Founded with a vision to support commercial and urban cultivators, GrowGeneration has established itself as a go-to resource for those growing specialty crops, including organics, greens, and plant-based medicines. As of March 27, 2020, the company operated 27 retail and commercial hydroponic/gardening centers, spanning multiple states such as Colorado, California, Michigan, Nevada, Washington, Oregon, Oklahoma, Rhode Island, Maine, and Florida.
In addition to its brick-and-mortar locations, GrowGeneration also operates an e-commerce store, growgen.pro, which offers an extensive selection of products to meet the needs of growers nationwide. The company caters to a diverse customer base, from hobbyist gardeners to large-scale commercial operations.
GrowGeneration Corp. is divided into two primary segments. The Cultivation and Gardening segment focuses on the core business of hydroponic and organic gardening products, while the Storage Solutions segment provides benching, racking, and storage solutions, ensuring efficient space utilization for growers.
With a commitment to innovation and quality, GrowGeneration continues to expand its footprint and enhance its product offerings. The company has formed strategic partnerships and continually invests in new technologies to better serve its customers. These efforts have positioned GrowGeneration as an industry leader in the fast-growing market for hydroponic and organic gardening supplies.
Financially, the company has shown robust growth, leveraging its extensive network of retail and online platforms to drive sales and profitability. Recent achievements include the expansion of its retail locations and the introduction of new product lines that cater to the evolving needs of modern cultivators.
Stay updated with the latest news and developments from GrowGeneration Corp. as the company continues to innovate and lead the way in hydroponic and organic gardening solutions.
GrowGeneration (NASDAQ: GRWG) announced the launch of three new premium product lines across its proprietary brands portfolio. The company introduced the ION 135 Watt Under Canopy LED Light in November, with plans to release pest management traps under The Harvest Company brand and Char Coir Crush Pots in December. These launches increase GrowGen's proprietary product SKU count to over 220. The initiative aligns with the company's goal to have proprietary brand sales represent 35% of total gardening sales by the end of 2025, as part of their profitability strategy focusing on higher margin sales growth.
GrowGeneration (NASDAQ: GRWG) reported its Q3 2024 financial results, noting a 10.2% decline in net sales to $50.0 million due to 25 fewer retail locations. Despite this, same-store sales increased 12.5% year-over-year, and proprietary brand sales rose to 23.8% from 19.4% in Q3 2023. The company reported a net loss of $11.4 million, compared to a $7.3 million loss in the prior year. Operating expenses fell by 5.4% to $22.9 million, while gross profit margin decreased to 21.6% from 29.1% due to restructuring activities. Adjusted EBITDA showed a loss of $2.4 million, down from a $0.9 million loss last year. The company retains a strong cash position with $55.2 million and no debt. CEO Darren Lampert highlighted progress in strategic restructuring and plans to launch an e-commerce portal in Q4 2024. Full-year 2024 net sales are projected to range between $190 million and $195 million.
GrowGeneration (NASDAQ: GRWG), a leading retailer of hydroponic and organic gardening products, announced a webinar co-hosted with MJ Biz Daily titled 'Scaling Success: Building a Profitable Cultivation Business' scheduled for November 12th at 2:00p.m. ET.
The webinar will focus on optimizing cultivation operations, building cost-efficient facilities, and exploring product innovation's role in yield improvement. Speakers include Matt Koch (VP of Commercial Sales), Travis Goldstein (Director of Market Development), and Sean Reardon (Commercial Sales Account Manager, East), alongside two commercial grower influencers.
The event will also showcase GrowGen's new commercial division, aimed at helping cultivators scale their operations effectively.
GrowGeneration (NASDAQ: GRWG), a leading retailer and distributor of specialty hydroponic and organic gardening products in the United States, has announced its Q3 2024 earnings release schedule. The company will disclose financial results for the quarter ended September 30, 2024, on Tuesday, November 12, 2024, after market close. A live earnings conference call will follow at 4:30 p.m. ET, accessible via phone or webcast through the company's investor relations website.
GrowGeneration Corp. (NASDAQ: GRWG), a leading retailer and distributor of specialty hydroponic and organic gardening products in the United States, has announced its participation in the Benzinga Cannabis Capital Conference. The event is scheduled for October 8-9, 2024, in Chicago.
Darren Lampert, GrowGen's Chief Executive Officer and Co-Founder, will be part of a panel discussion titled 'Outpacing The Market: 10 Secrets For Building A Successful Commercial Grow' on October 9, 2024, at 3:10 p.m. Central Time. The company will also be available for one-on-one investor meetings throughout the conference. Interested parties can contact GrowGen@kcsa.com for more information or to schedule a meeting.
GrowGeneration Corp. (NASDAQ: GRWG), a leading retailer and distributor of specialty hydroponic and organic gardening products in the US, has announced its participation in the Lake Street Capital Markets 8th Annual Best Ideas Growth Conference. The event is scheduled for September 12, 2024, at the Yale Club in Midtown Manhattan, New York City.
Darren Lampert, CEO and Co-Founder of GrowGen, will be representing the company at the conference. GrowGen will host one-on-one investor meetings throughout the event. Interested parties can schedule meetings through Lake Street representatives or by contacting GrowGen directly.
GrowGeneration (NASDAQ: GRWG) announced its Q2 2024 financial results. The company reported net revenue of $53.5 million, an 11.8% increase quarter-over-quarter, and a gross profit margin of 26.9%, improving by 110 basis points sequentially. Operating expenses decreased by $2.5 million year-over-year to $20.9 million.
However, the company faced a net loss of $5.9 million and a Non-GAAP Adjusted EBITDA loss of $1.1 million. Proprietary brand sales increased to 21.5% of cultivation and gardening sales, up from 16.7% year-over-year. The company holds cash and marketable securities worth $56.0 million and no debt.
Quarterly gross profit decreased by $2.7 million year-over-year, driven mainly by reduced sales in the cultivation and gardening segment. Despite the losses, GrowGen expects full-year 2024 net sales between $190 million and $195 million.
GrowGeneration Corp. (NASDAQ: GRWG), a leading retailer and distributor of specialty hydroponic and organic gardening products in the United States, has announced its plans to release second quarter 2024 financial results on Thursday, August 8, 2024, after market close. The company will host a live earnings conference call at 4:30 p.m. ET on the same day.
Interested parties can participate in the call by dialing (800) 836-8184 (domestic) or (289) 819-1350 (international) using the conference code 99524. The call will also be webcast and accessible through the company's website. A replay of the webcast will be available for approximately 90 calendar days after the call.
GrowGeneration Corp. (NASDAQ: GRWG) announced preliminary Q2 2024 results and a strategic restructuring plan. Key points:
- Q2 net revenue expected to exceed $53 million, up 10.6% from Q1
- Restructuring plan aims to generate $12 million in savings over 12 months
- Focusing on proprietary brands, targeting 35% of total sales by end of 2025
- Launching B2B e-commerce portal in Q4 2024
- Closing 19 underperforming stores, reducing to 31 operational stores
- Streamlining operations and rationalizing SKU count
The plan aims to improve profitability, drive higher margins, and position GrowGen for future growth in the hydroponics and organic gardening supply industry.
GrowGeneration (NASDAQ: GRWG), a major retailer and distributor of hydroponic and organic gardening products in the U.S., will participate in the Benzinga Cannabis Market Spotlight Conference on June 17, 2024, in New Brunswick, New Jersey.
CEO Darren Lampert will join a Fireside Chat at 9:40 a.m. Eastern Time on the same day. The commercial team will exhibit proprietary brands such as Drip Hydro powders, Charcoir coco pots and cubes, and Ion LED lights. For additional details or meeting requests, contact GrowGen@kcsa.com.
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