Start here if you're new
what it is
It sells hydroponic gear, gardening supplies, and storage systems for indoor and outdoor growers.
how it gets paid
Last year Growgeneration made $189M in revenue. Cultivation and Gardening was the main engine at $118M, or 62% of sales.
what just happened
Revenue hit $124M, but the quarter still lost $0.28 a share.
At a glance
C+ balance sheet — struggling to keep the lights on
30/100 earnings predictability — expect surprises
37.0x trailing p/e — you're paying up for this one
3.4% return on capital — nothing to write home about
-$0.82 fy2024 eps est
xvary composite: 29/100 — weak
What they do
It sells hydroponic gear, gardening supplies, and storage systems for indoor and outdoor growers.
You can buy 10,000+ products on its site, and that menu is the point. GrowGen also has 2 major lines, so your order can cover plants and shelving in one cart. The weird part is scale: 289 employees and 220+ proprietary SKUs still have to fight commodity pricing.
How they make money
$189M
annual revenue
Cultivation and Gardening
$118M
+23.0%
Hydroponic Inputs
$21M
+0.0%
Grow Lights and Climate Gear
$20M
+5.6%
Storage Solutions (Mobile Media)
$18M
+2.0%
Proprietary Brands and Accessories
$12M
+10.0%
The products that matter
online hydroponics retail
E-commerce
$57M · 30% of revenue
This channel accounts for about $57M of annual sales. It gives you national reach, but flat growth means reach is not the same thing as demand.
30% of revenue
in-house product mix
Proprietary Brands
220+ SKUs · 35% mix target
Management wants proprietary brands to reach 35% of sales by 2026. In human-speak: sell more of your own labels and keep more of each dollar.
margin lever
physical specialty retail
Retail Store Network
$113M · 60% of revenue
Stores still drive about $113M of annual sales. That is the core business, which also means you stay exposed to local cultivation spending staying weak.
60% of revenue
Key numbers
$189M
annual revenue
You are looking at a $189M business, not a hobby.
27.5%
operating margin
For every $1 of sales, it loses 27.5 cents at the operating line.
$25M
long-term debt
Debt is not the monster here. The monster is the loss.
2.2
beta
A 2.2 beta means the stock can move about twice the market.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $25M (28% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for GRWG right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $124M, but the quarter still lost $0.28 a share.
EDGAR shows revenue up 162% vs. prior year, which is a giant number off a weak base. Gross margin was 27.6%, but the company still stayed deep in the red.
$124M
revenue
$0.28
eps
27.6%
gross margin
the number that mattered
Revenue rose to $124M. The loss stayed at $0.28 a share, so growth did not fix the business.
source: company earnings report, 2026
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What could go wrong
The #1 risk is indoor cultivation demand staying weak. That is the force behind the 16.4% annual revenue drop and the 5.6% decline in the latest quarter.
med
Indoor cultivation demand stays soft
The company sells into an end market that already shrank enough to push annual revenue down 16.4% and quarterly revenue down 5.6%.
If that contraction continues, better margins will not be enough. This stock needs sales to stabilize.
med
Proprietary brand push falls short
Management wants proprietary brands to reach 35% of sales by 2026, supported by more than 220 SKUs.
Miss that mix target and gross margin stays closer to 28.3% than investors want from a turnaround story.
med
Thin financial cushion
A C+ balance sheet, $25M of long-term debt, and a 5/100 price stability score do not give you much room if recovery takes longer.
This is not a bankruptcy call. It is a reminder that small companies with weak demand get less time to figure it out.
All three risks point at the same issue: a $63M equity story tied to a market that still has not started growing again.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q4 2025 earnings
March 19, 2026. Consensus EPS is -$0.07. You want to see whether revenue keeps sliding or finally flattens out.
margin lever
Proprietary mix target
Management is aiming for 35% of sales from proprietary brands by 2026. That is the cleanest path to keeping margin above 28.3%.
sales trend
Revenue contraction
Annual revenue fell 16.4%, and the latest quarter still fell 5.6%. One quarter of stabilization would matter more than a small EPS beat.
balance sheet
Cushion versus patience
C+ balance sheet grade and $25M of long-term debt are manageable until demand stays weak for longer than the market expects.
Analyst rankings
earnings predictability
30 / 100
Earnings are hard to forecast here. In human-speak, analysts do not trust the quarter-to-quarter setup.
price behavior
5 / 100
Price stability sits at 5 / 100. You should expect volatility, not a smooth turnaround curve.
source: institutional data
Institutional activity
institutional ownership data for GRWG is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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