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GrowGeneration (GRWG) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · GrowGeneration (GRWG) Q2 2026 earnings results →

Q2 2026 Revenue up 6% year over year to $43.2M · 5¢ of every $1 of revenue lost · operating margin -5.4%

GrowGeneration made $43.2M in Q2 2026 (+6% Y/Y): Cultivation and Gardening $34.9M, Storage Solutions $8.3M. Operating margin -5.4%, net loss $2.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.

Revenue$43.2M
Year over year+6%
Operating margin-5.4%
Net earnings−$2.0M
Operating cash flow$941K

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $43.2M in Q2 2026, up 5% year over year and up 13% from the previous quarter. Cultivation and Gardening was the largest line at 81% of revenue. Cultivation and Gardening added $2.0M year over year (up 6%), 91% of the total change.

Gross margin was 28.5%, up 0.2 points from Q2 2025. Operating costs exceeded revenue by $2.3M, an operating margin of -5.4%. Operating expenses fell 13% while revenue rose 5%. The quarter ended with a net loss of $2.0M, narrower than the previous quarter's $4.9M loss.

Operating cash flow was $941K. Non-cash charges added back $1.5M of depreciation and amortization and $300K of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $195K left free cash flow of $746K.

Quarterly history

GrowGeneration revenue by quarterGrowGeneration revenue by quarter$37.4MQ4 2024$35.7MQ1 2025$41.0MQ2 2025$47.3MQ3 2025$37.8MQ4 2025$38.4MQ1 2026$43.2MQ2 2026
GrowGeneration net earnings by quarterGrowGeneration net earnings by quarter−$23.3MQ4 2024−$9.4MQ1 2025−$4.8MQ2 2025−$2.4MQ3 2025−$7.4MQ4 2025−$4.9MQ1 2026−$2.0MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 11, 2026$43.2M+6%-5.4%−$2.0M$941K
Q1 202610-QMay 12, 2026$38.4M+8%-13.7%−$4.9M−$5.0M
Q4 202510-KMar 20, 2026$37.8M+1%-20.1%−$7.4M−$2.2M
Q3 202510-QNov 6, 2025$47.3M-6%-6.0%−$2.4M−$499K
Q2 202510-QAug 11, 2025$41.0M-24%-12.9%−$4.8M−$2.9M
Q1 202510-QMay 8, 2025$35.7M-25%-27.7%−$9.4M−$3.8M
Q4 202410-KMar 13, 2025$37.4M-24%-63.9%−$23.3M$1.1M

Charts

GrowGeneration: revenue growth, year over year and quarter over quarterGrowGeneration: revenue growth, year over year and quarter over quarterY/YQ/Q-24%Q4 2024-25%-5%Q1 2025-24%+15%Q2 2025-6%+15%Q3 2025+1%-20%Q4 2025+8%+2%Q1 2026+6%+13%Q2 2026
Latest (Q2 2026): Y/Y +6%, Q/Q +13%.
GrowGeneration: where the cash came from (+) and went (−), TTM to Q2 2026GrowGeneration: where the cash came from (+) and went (−), TTM to Q2 2026Other investing$8.0MOperating cash flow−$6.8MBuybacks−$1.0MTaxes on employees’ shares−$160KCash drawn (+) / kept (−)−$151KAsset & business sales$116K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
GrowGeneration: profit against cash, quarter by quarterGrowGeneration: profit against cash, quarter by quarterNet incomeOperating cash flow−$11.4M$1.2MQ3 2024−$23.3M$1.1MQ4 2024−$9.4M−$3.8MQ1 2025−$4.8M−$2.9MQ2 2025−$2.4M−$499KQ3 2025−$7.4M−$2.2MQ4 2025−$4.9M−$5.0MQ1 2026−$2.0M$941KQ2 2026
Latest (Q2 2026): Net income −$2.0M, Operating cash flow $941K.
GrowGeneration: diluted shares by fiscal yearGrowGeneration: diluted shares by fiscal year46MFY202060MFY202161MFY202261MFY202360MFY202460MFY2025
+28.4% since FY2020: more shares outstanding (issuance, stock pay).
GrowGeneration in its industry: growth against margin (5 companies, SIC 5200)GrowGeneration in its industry: growth against margin (5 companies, SIC 5200)revenue growth, year over year →↑ operating marginmedian +6%median 8%SHWTSCOFASTIPWGRWG (+6%, -5%)
Retail-Building Materials, Hardware, Garden Supply; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About GrowGeneration

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.

In its own words, from its 10-K, filed Mar 20, 2026.

GrowGeneration against its Retail-Building Materials, Hardware, Garden Supply peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +6%. Operating margin: -5.4% against the peers' median 7.9%.

CompanyQuarterRevenueY/YOp. margin
GRWG GrowGenerationQ2 2026$43.2M+6%-5.4%
SHW Sherwin WilliamsQ3 2026$6.9B+8%15.5%
TSCO Tractor SupplyQ3 2026$3.9B+5%7.9%
FAST FastenalQ3 2026$2.5B+16%21.5%
IPW iPowerQ4 FY26$1.4M-86%-648.0%

Source: GrowGeneration 10-Q on SEC EDGAR · CIK 1604868 · Retail-Building Materials, Hardware, Garden Supply

13F: who owns GRWG and who is buying

Largest holders of GRWG (13F)Largest holders of GRWG (13F)Vanguard Group$4.0MVanguard Capital Management LLC$3.5MRenaissance Technologies LLC$2.0MMonaco Asset Management SAM$1.8MBlackRock$1.7MMillennium Management LLC$1.3MGeode Capital Management, LLC$906KMirae Asset Global ETFS Holdings$866KTidal Investments LLC$825KD. E. Shaw$762K
Funds' net buying of GRWG by quarter (13F)Funds' net buying of GRWG by quarter (13F)−$135K2024-09$85K2024-12−$208K2025-03−$4.9M2025-06−$3.5M2025-09$454K2025-12−$1.3M2026-03$203K2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on GRWG

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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