GrowGeneration Corp. GRWG
GrowGeneration Corp. (together with all of its direct and indirect wholly owned subsidiaries, collectively "GrowGeneration" or the "Company") was incorporated in Colorado in 2014. Since then, GrowGeneration has grown from a small chain of specialty retail hydroponic and organic garden centers to a multifaceted business with diverse assets. Today, GrowGeneration operates two major lines of business: our Cultivation and Gardening segment, composed of our hydroponic and organic gardening business; and our Storage Solutions segment, composed of our benching, racking, and storage solutions business.
We have two operating segments, each its own reportable segment, based on our major lines of business: the Cultivation and Gardening segment and the Storage Solutions segment. Refer to Note 15, Segments, of the Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K ("Consolidated Financial Statements") for additional information regarding our reportable segments.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Cultivation and Gardening
- Storage Solutions
| Segment | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Cultivation and Gardening | $134.2M | $163.5M | $194.5M |
| Storage Solutions | $27.5M | $25.4M | $31.4M |
As the company reported it, from the “SEGMENTS - Schedule of Disaggregation of Revenues (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $161.7M | $188.9M | $225.9M | $278.2M | $422.5M | $193.4M | $79.7M | $29.0M | $14.4M | $8.0M |
| Cost of revenue | — | — | — | — | $304.2M | $142.3M | $57.7M | $22.6M | $11.1M | $5.8M |
| Gross profit | $43.3M | $43.7M | $61.3M | $70.3M | $118.2M | $51.0M | $22.0M | $6.4M | $3.3M | $2.2M |
| SG&A | $26.3M | $29.2M | $29.8M | $36.8M | $39.5M | $20.9M | $9.3M | $1.6M | $1.0M | $386.0K |
| Total operating expenses | $68.9M | $95.7M | $111.1M | $238.1M | $103.2M | $42.6M | $20.4M | $10.7M | $6.1M | $2.6M |
| Operating income | -$25.6M | -$52.0M | -$49.8M | -$167.9M | $15.0M | $8.4M | $1.6M | -$4.3M | -$2.9M | -$426.0K |
| Interest expense | $0 | $70.0K | $97.0K | $21.0K | — | — | $45.2K | $23.6K | $15.3K | $5.3K |
| Pre-tax income | -$23.9M | -$49.4M | -$46.5M | -$166.6M | $15.2M | $8.6M | $1.3M | -$5.1M | -$2.5M | -$431.2K |
| Income tax | $191.0K | $158.0K | $32.0K | $2.9M | $2.4M | $3.3M | $0 | $0 | $0 | $0 |
| Net income | -$24.0M | -$49.5M | -$46.5M | -$163.7M | $12.8M | $5.3M | $1.3M | -$5.1M | -$2.5M | -$431.2K |
| EPS, basic | -0.40 | -0.82 | -0.76 | -2.69 | 0.22 | 0.12 | 0.04 | -0.22 | -0.18 | -0.05 |
| EPS, diluted | -0.40 | -0.82 | -0.76 | -2.69 | 0.21 | 0.11 | 0.04 | -0.22 | -0.18 | -0.05 |
| Shares, diluted (wtd. avg.) | 59.7M | 60.2M | 61.2M | 60.8M | 60.5M | 46.5M | 33.9M | 23.5M | 14.5M | 9.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $30.4M | $27.5M | $29.8M | $40.1M | $41.4M | $177.9M | $13.0M | $14.6M | $1.2M | $606.6K |
| Short-term investments | $15.7M | $29.0M | $35.2M | $31.9M | $39.8M | $0 | — | — | — | — |
| Receivables | $10.7M | $7.4M | $8.9M | $8.3M | $5.7M | $3.9M | $3.0M | $862.4K | $653.6K | $391.2K |
| Inventory | $38.8M | $40.3M | $64.9M | $77.1M | $105.6M | $54.0M | $21.6M | $8.9M | $4.6M | $2.6M |
| Total current assets | $103.7M | $113.2M | $147.5M | $170.7M | $216.9M | $250.2M | $41.1M | $25.0M | $7.2M | $3.6M |
| Property, plant and equipment | $9.8M | $15.5M | $27.1M | $28.7M | $24.1M | $7.4M | $3.3M | $1.8M | $1.3M | $549.9K |
| Goodwill | $2.1M | $1.6M | $7.5M | $16.0M | $125.4M | $63.0M | $17.8M | $8.8M | $592.5K | $243.0K |
| Other intangibles | $3.3M | $8.8M | $16.2M | $30.9M | $48.4M | $20.5M | $233.3K | $114.2K | $53.3K | — |
| Total assets | $147.0M | $174.4M | $239.1M | $293.4M | $459.3M | $354.7M | $70.9M | $35.9M | $9.3M | $4.4M |
| Accounts payable | $8.8M | $8.1M | $11.7M | $15.7M | $17.0M | $14.6M | $6.0M | $1.8M | $1.1M | $643.8K |
| Short-term debt | — | — | $0 | $50.0K | $92.0K | $83.0K | $110.2K | $436.8K | $41.7K | $23.4K |
| Total current liabilities | $26.0M | $24.3M | $30.9M | $35.8M | $47.1M | $27.4M | $12.1M | $3.4M | $1.6M | $842.9K |
| Long-term debt | — | — | — | $0 | $66.0K | $158.0K | $242.1K | $375.6K | $82.5K | $41.7K |
| Total liabilities | $49.5M | $54.3M | $65.7M | $77.0M | $88.0M | $37.7M | $18.1M | $5.8M | $1.7M | $884.6K |
| Retained earnings | -$279.7M | -$255.6M | -$200.1M | -$153.6M | $10.1M | -$2.6M | -$8.0M | -$8.8M | -$3.7M | -$1.1M |
| Total equity | $97.5M | $120.1M | $173.4M | $216.4M | $371.3M | $317.0M | $52.8M | $29.5M | $7.6M | $3.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9.4M | -$1.8M | $1.4M | $11.9M | $5.2M | -$213.0K | -$3.3M | -$1.5M | -$3.4M | -$1.4M |
| Depreciation and amortisation | $11.3M | $19.4M | $16.6M | $17.1M | $12.6M | $2.4M | $1.0M | $351.1K | $151.6K | $53.0K |
| Stock-based compensation | $1.5M | $2.4M | $3.2M | $5.0M | $6.6M | $7.9M | $2.5M | $1.9M | $1.1M | $219.3K |
| Capital expenditure | — | — | — | — | — | — | — | $61.5K | $403.9K | — |
| Investing cash flow | $12.6M | $5.7M | -$11.4M | -$11.6M | -$139.3M | -$45.8M | -$11.8M | -$6.4M | -$1.2M | -$264.1K |
| Financing cash flow | -$220.0K | -$6.2M | -$313.0K | -$1.7M | -$2.4M | $211.0M | $13.5M | $21.3M | $5.2M | $1.6M |
| Buybacks | $0 | $6.0M | $0 | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001604868-26-000007.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.0M | $14.4M | $29.0M | $79.7M | $193.4M | $422.5M | $278.2M | $225.9M | $188.9M | $161.7M |
| Gross profit | $2.2M | $3.3M | $6.4M | $22.0M | $51.0M | $118.2M | $70.3M | $61.3M | $43.7M | $43.3M |
| Net income | -$431.2K | -$2.5M | -$5.1M | $1.3M | $5.3M | $12.8M | -$163.7M | -$46.5M | -$49.5M | -$24.0M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Shareholder vote Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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