secwatch.observer — SEC 8-K summary
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Issuer:     GrowGeneration Corp. (GRWG)
CIK:        0001604868
Form:       8-K/A
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001628280-24-011238
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GrowGeneration reports 2023 net revenue $225.9M, beats guidance; reviews MMI sale
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- Full year 2023 net revenue $225.9M (down 18.8% YoY), beating guidance; net loss $46.5M ($0.76/share) vs $163.7M prior year.
- Q4 2023 revenue $49.5M (-9% YoY); gross margin improved to 23.5% from 17.6%; Adj. EBITDA loss $3.7M vs loss $10.2M.
- 2024 guidance: revenue $205-215M; Adj. EBITDA -$2M to +$3M. Q1 revenue $45-48M, Adj. EBITDA loss $1-3M (corrected).
- Exploring strategic alternatives for MMI (Storage Solutions), which generated $31.4M revenue and $8.9M operating profit in 2023.
- Cash, cash equivalents, and marketable securities $65.0M, no debt; generated $1.4M operating cash in 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604868/000162828024011238/0001628280-24-011238-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604868/000162828024011238/grwg-20240313.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-011238

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer