Filing Flows › GrowGeneration (GRWG) › Q3 2025
GrowGeneration (GRWG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
GrowGeneration (GRWG) reported revenue of $47.3M for the third quarter 2025 (Q3 2025), -6% from a year earlier and +15% from the quarter before. Operating margin was -6.0%, net loss $2.4M (5.2% of revenue).
GrowGeneration, Q3 2025: revenue $47.3M (-6% year over year), operating margin -6.0%, net loss $2.4M, operating cash flow −$499K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $47.3M | +15% | -6% |
| Operating profit | −$2.8M | — | — |
| Net earnings | −$2.4M | — | — |
| Operating cash flow | −$499K | — | — |
What changed
Revenue was $47.3M in Q3 2025, down 6% year over year and up 15% from the previous quarter. Cultivation and Gardening was the largest line at 81% of revenue. Cultivation and Gardening lost $3.0M year over year (down 7%), 109% of the total change.
Gross margin was 27.2%, up 5.6 points from a year earlier. Operating costs exceeded revenue by $2.8M, an operating margin of -6.0%. Operating expenses fell 31% while revenue fell 6%. The quarter ended with a net loss of $2.4M, narrower than the previous quarter's $4.8M loss.
Operating cash flow was −$499K. Non-cash charges added back $2.6M of depreciation and amortization and $400K of share-based compensation. Working capital and other items used $1.1M. Capital expenditures of $147K exceeded it, leaving free cash flow of −$646K.
Questions
What was GrowGeneration's revenue in the third quarter 2025?
GrowGeneration (GRWG) reported revenue of $47.3M for the third quarter 2025 (Q3 2025), -6% from a year earlier and +15% from the quarter before.
Was GrowGeneration profitable in the third quarter 2025?
Operating loss was $2.8M (-6.0% of revenue) and net loss $2.4M.
Source: GrowGeneration 10-Q on SEC EDGAR.