# GrowGeneration Corp. (GRWG)

> Source: Nexqual · https://nexqual.com/GRWG · data as of 2026-10-23 18:53 UTC · cite as "Nexqual, GrowGeneration Corp. (GRWG), nexqual.com/GRWG" · informational, not investment advice.

**Price:** USD 1.42 (-1.05% today) · US market open, as of October 23, 2026 at 18:53 UTC; quotes may be delayed. Prev close 1.43 · day 1.4–1.43 · 52w 1.01–2.4 · market cap $83.4M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $167M, net income -$16.8M (-10.1% margin) (SEC filings).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $106K; 0 by opportunistic insiders, 1 by routine insiders.
- Analysts: Buy (mean 2.33 on a 1–5 scale) (3 analysts), mean target USD 2.5 (range 2.5–2.5).
- Total return with dividends: 1Y -20.1% vs S&P 500 +14.5%; 5Y -93.3% vs S&P 500 +77.1%.
- Next earnings: 2026-11-12, EPS estimate USD 0.01, revenue estimate $45.0M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $422M | $278M | $226M | $189M | $162M | $167M |
| Gross profit | $118M | $70.3M | $61.3M | $43.7M | $43.3M | — |
| Operating income | $15.0M | -$168M | -$49.8M | -$52.0M | -$25.6M | -$18.0M |
| Net income | $12.8M | -$164M | -$46.5M | -$49.5M | -$24.0M | -$16.8M |
| EPS (diluted) | $0.21 | -$2.69 | -$0.76 | -$0.82 | -$0.40 | — |
| Gross margin | 28.0% | 25.3% | 27.1% | 23.1% | 26.8% | — |
| Operating margin | 3.6% | -60.4% | -22.1% | -27.5% | -15.8% | -10.8% |
| Net margin | 3.0% | -58.9% | -20.6% | -26.2% | -14.9% | -10.1% |
| Revenue growth | +118.5% | -34.2% | -18.8% | -16.4% | -14.4% | — |
| Cash + short-term investments | $81.2M | $71.9M | $65.0M | $56.5M | $46.1M | — |
| Total debt | $158K | $50K | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.5x · P/B 0.9x · Earnings yield -20.14%

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $106K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-20 | Adams Eula L | Director | 4,000 | $7K | 1.67 | Too little history (no open-market trades in 2023 or 2025) |
| 2026-05-18 | Lampert Darren | CEO | 64,098 | $99K | 1.55 | Routine (traded in Nov each year 2023–2025; this trade is outside those months) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.33 on a 1–5 scale), 3 analysts; mean target USD 2.5 (low 2.5, high 2.5).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-12 | Alliance Global Partners | Upgrade | Neutral → Buy |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -20.1% | -93.3% |
| S&P 500 (SPY) | +14.5% | +77.1% |
| Per year | -20.1% | -41.8% |
| Volatility (annualized) | 70.0% | 80.5% |
| Max drawdown | -52.7% (Dec 2025→Apr 2026) | -96.3% (Nov 2021→Jun 2025) |

## Peers (Specialty Retail)
ARKO (ARKO Corp.) USD 3.89 -5.13% · BNED (Barnes & Noble Education, Inc) USD 13.53 -3.01% · BWMX (Betterware de Mexico, S.A.P.I. ) USD 15.65 -2.10% · WOOF (Petco Health and Wellness Compa) USD 2.45 -3.36% · WINA (Winmark Corporation) USD 278.46 -2.63% · HZO (MarineMax, Inc.  (FL)) USD 52.41 +0.06%

## More
Full page: https://nexqual.com/GRWG · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in GRWG's own 10-K filed 2026-03-20 (https://www.sec.gov/Archives/edgar/data/1604868/000160486826000004/grwg-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Hydro Generation | "On June 6, 2025, we purchased substantially all of the assets of Hydro Generation Inc. (referred to as "Viagrow"), a domestic supplier of gardening and hydroponic equipment." |
| Competitor | Amazon (AMZN) | "Our key competitors include many local and national vendors of gardening supplies, local product resellers of hydroponic and other specialty growing equipment and supplies, and online product resellers and large online m…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Cultivation and Gardening | $34.9M | 80.8% | +6.2% | $4.2M | 12.0% |
| Storage Solutions | $8.3M | 19.2% | +2.6% | $2.0M | 23.8% |
| Total revenue | $43.2M | 100% | — | -$2.3M | -5.4% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Consumables | $25.1M | 58.1% | -4.1% |
| Non-proprietary brand sales | $21.1M | 48.7% | -5.8% |
| Proprietary brand sales | $13.8M | 32.0% | +31.8% |
| Durables | $9.8M | 22.6% | +46.5% |
| Commercial fixture sales | $8.3M | 19.2% | +2.6% |
| Total revenue | $43.2M | 100% | — |
The lines above cover 180.8% of total revenue.

## Company outlook (8-K filed 2025-02-06)

- "Outlook for 2025 DENVER, February 6, 2025 -- GrowGeneration Corp."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.01 | $-0.01 | -366.6% | $45.0M | 3 |
| Next quarter (ends 2026-12-31) | $-0.03 | $-0.04 | -4.8% | $39.3M | 3 |
| Current fiscal year (ends 2026-12-31) | $-0.14 | $-0.15 | -8.9% | $165.9M | 3 |
| Next fiscal year (ends 2027-12-31) | $-0.04 | $-0.05 | -30.0% | $174.8M | 2 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-01-15 (includes earnings 2026-11-12): ±25.2%; last 2 reports averaged ±7.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2027-01-15 | 84 | 123.8% | ±25.2% |
| 2027-04-16 | 175 | 177.8% | ±66.5% |