secwatch.observer — SEC 8-K summary
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Issuer:     GrowGeneration Corp. (GRWG)
CIK:        0001604868
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001628280-24-021774
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GrowGeneration Q1 net loss widens to $8.8M; sales down 15.7% YoY, at top end of guidance
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- Net loss of $8.8M ($0.14/diluted share) vs $6.1M loss in Q1 2023; Adjusted EBITDA loss of $2.9M vs $1.8M loss.
- Net sales $47.9M, down 15.7% YoY due to store consolidations and price compression; same-store sales -1% but retail positive.
- Gross margin 25.8%, down 290 bps YoY; proprietary brand sales hit record 23% of cultivation sales vs 18% last year.
- Cash and equivalents $61.3M, no debt; reiterated FY2024 revenue guidance $205-215M, Adjusted EBITDA -$2M to +$3M.
- Consolidated 4 retail stores in Q1, now at 46 locations; may consider further consolidations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604868/000162828024021774/0001628280-24-021774-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604868/000162828024021774/grwg-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-021774

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