Filing Flows › GrowGeneration (GRWG) › Q1 2025
GrowGeneration (GRWG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
GrowGeneration (GRWG) reported revenue of $35.7M for the first quarter 2025 (Q1 2025), -25% from a year earlier and -5% from the quarter before. Operating margin was -27.7%, net loss $9.4M (26.3% of revenue).
GrowGeneration, Q1 2025: revenue $35.7M (-25% year over year), operating margin -27.7%, net loss $9.4M, operating cash flow −$3.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.7M | -5% | -25% |
| Operating profit | −$9.9M | — | — |
| Net earnings | −$9.4M | — | — |
| Operating cash flow | −$3.8M | -457% | — |
What changed
Revenue was $35.7M in Q1 2025, down 25% year over year and down 5% from the previous quarter. Cultivation and Gardening was the largest line at 87% of revenue. Cultivation and Gardening lost $12.2M year over year (down 28%), 100% of the total change.
Gross margin was 27.2%, up 1.4 points from a year earlier. Operating costs exceeded revenue by $9.9M, an operating margin of -27.7%. Operating expenses fell 10% while revenue fell 25%. The quarter ended with a net loss of $9.4M, narrower than the previous quarter's $23.3M loss.
Operating cash flow was −$3.8M. Non-cash charges added back $3.6M of depreciation and amortization and $503K of share-based compensation. Working capital and other items added $1.5M. Capital expenditures of $237K exceeded it, leaving free cash flow of −$4.1M.
Questions
What was GrowGeneration's revenue in the first quarter 2025?
GrowGeneration (GRWG) reported revenue of $35.7M for the first quarter 2025 (Q1 2025), -25% from a year earlier and -5% from the quarter before.
Was GrowGeneration profitable in the first quarter 2025?
Operating loss was $9.9M (-27.7% of revenue) and net loss $9.4M.
Source: GrowGeneration 10-Q on SEC EDGAR.