GrowGeneration Posts Q1 Sales Gain, Narrows Loss, Reaffirms 2026 Outlook

Overview

• GrowGeneration reported first-quarter 2026 net sales of $38.4 million, up 7.5% year over year on growth in its commercial business and storage solutions.
• GAAP net loss improved to $4.9 million, and Adjusted EBITDA loss narrowed to $1.6 million, a non-GAAP profit measure that excludes interest, taxes, depreciation, and unusual items.
• Proprietary brands rose to 37% of cultivation and gardening sales, supporting margin goals, as total operating expenses fell 23.4% to $15.0 million after store reductions and other cost cuts.
• The company ended March 31 with $41.1 million in cash and no debt, providing flexibility to fund operations and work through inventory from closed locations that can pressure margins.
• Full-year guidance remains $162 million to $168 million in revenue with roughly breakeven adjusted EBITDA, and Q2 sales are guided to $42 million to $44 million with profits expected to build during the outdoor growing season.