GrowGeneration Q2 revenue $63.9M (+12% QoQ), net loss $5.7M, lowers FY guidance

GrowGeneration Corp.

2023-Q2 EPS reported -$0.19 revenue$120,752,000

Net revenue $63.9M, up 12% sequentially; comparable store sales down 15.1% YoY.
Net loss $5.7M ($0.09 loss per diluted share); Adjusted EBITDA profit of $0.9M.
Gross margin 26.8%, down 1.7pp YoY due to shrink, obsolescence, and vendor price cuts.
Cash and marketable securities $70.6M; year-to-date ops cash flow positive at $7.4M.
FY2023 guidance lowered: revenue $220-225M, Adj. EBITDA loss $4-6M citing industry headwinds.

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