GrowGeneration Q2 net loss $136.4M; cuts 2022 revenue guidance to $250-275M

GrowGeneration Corp.

2022-Q2 EPS reported -$2.33 revenue$152,860,000

Net sales fell 44% to $71.1M; comparable-store sales down 56.9%.
GAAP net loss of $136.4M includes $127.8M goodwill impairment; EPS loss $2.24.
Adjusted EBITDA loss of $2.9M vs. profit of $14.5M a year ago.
2022 revenue guidance cut from $340-400M to $250-275M; expects adjusted EBITDA loss of $12-15M.
Closing 3-5 underperforming stores, opening 3-4 new ones; cash position $65.6M.

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