secwatch.observer — SEC 8-K summary
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Issuer:     GrowGeneration Corp. (GRWG)
CIK:        0001604868
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001628280-24-036112
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GrowGeneration Q2 net loss $5.9M, revenue $53.5M (-16.3% YoY); guides FY24 rev $190-195M, removes EBITDA guidance
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- Q2 2024 net revenue $53.5M, down 16.3% YoY; gross margin 26.9% up 110bps sequentially.
- Net loss $5.9M ($0.10 diluted EPS) vs $5.7M loss ($0.09) in Q2 2023; Adj EBITDA loss $1.1M vs positive $0.9M.
- Proprietary brand sales reached 21.5% of Cultivation & Gardening net sales, up 480bps from 16.7% YoY.
- Restructuring plan: closing 12 more stores in H2 2024, targeting $12M annual cost savings; expects 31 total stores.
- FY 2024 net sales guidance lowered to $190-195M; prior Adj EBITDA guidance removed pending restructuring impact.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1604868/000162828024036112/0001628280-24-036112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1604868/000162828024036112/grwg-20240808.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-036112

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