GrowGeneration Corp. (GRWG) Income Statement
GRWG 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGRWG revenue and net income
Where GRWG's revenue goes
2025Each bar shows an amount and its share of revenue. GRWG kept −14.9% of revenue as net income.
GRWG profit margins
GRWG growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −14.4% | −16.5% | −3.5% | +46.9% |
| Gross profit | −26.9% | −23.1% | −8.9% | +40.0% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GRWG quarterly EPS vs estimates
GrowGeneration beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.01).
GRWG income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $161.7M | $188.9M | $225.9M | $278.2M | $422.5M | $193.4M | $79.7M | $29.0M | $14.4M | $8.0M |
| Cost of revenue | $129.8M | $145.1M | $164.6M | $207.9M | $304.2M | $142.3M | $57.7M | $22.6M | $11.1M | $5.8M |
| Gross profit | $32.0M | $43.7M | $61.3M | $70.3M | $118.2M | $51.0M | $22.0M | $6.4M | $3.3M | $2.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $26.3M | $68.3M | $29.8M | $36.8M | $40.9M | $22.0M | $9.3M | $5.4M | $3.3M | $2.2M |
| Total operating expenses | $56.3M | $95.7M | $111.1M | $238.1M | $103.2M | $42.6M | $20.4M | $10.7M | $6.1M | $2.5M |
| Operating income | −$24.3M | −$52.0M | −$49.8M | −$167.9M | $15.0M | $8.4M | $1.6M | −$4.3M | −$2.9M | −$425,993 |
| Interest income | $1.7M | $2.7M | $390,000 | $580,000 | $486,000 | $43,926 | $144,725 | $79,184 | $13,710 | $5,250 |
| Interest expense | $0 | $70,000 | $97,000 | $21,000 | $43,000 | $14,053 | $401,497 | $1.0M | $15,339 | $5,251 |
| Income before taxes | −$23.9M | −$49.4M | −$46.5M | −$166.6M | $15.2M | $8.6M | $1.3M | −$5.1M | −$2.5M | −$431,244 |
| Income taxes | $191,000 | $158,000 | $32,000 | −$2.9M | $2.4M | $3.3M | $396,952 | $195,059 | $16,551 | −$862.5M |
| Net income | −$24.0M | −$49.5M | −$46.5M | −$163.7M | $12.8M | $5.3M | $1.3M | −$5.1M | −$2.5M | −$431,244 |
| EBITDA | −$12.6M | −$29.8M | −$29.8M | −$149.5M | $27.9M | $11.0M | $2.8M | −$3.7M | −$2.4M | −$373,031 |
| EPS (diluted) | −$0.40 | −$0.80 | −$0.73 | −$0.61 | $0.21 | $0.10 | $0.06 | −$0.21 | −$0.18 | −$0.02 |
| Gross margin | 19.8% | 23.1% | 27.1% | 25.3% | 28.0% | 26.4% | 27.6% | 22.2% | 22.8% | 27.6% |
| Operating margin | −15.0% | −27.5% | −22.1% | −60.4% | 3.6% | 4.4% | 2.0% | −14.7% | −19.8% | −5.3% |
| Net margin | −14.9% | −26.2% | −20.6% | −58.9% | 3.0% | 2.8% | 1.7% | −17.5% | −17.7% | −5.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43.2M | $38.4M | $37.8M | $47.3M | $41.0M | $35.7M | $37.4M | $50.0M | $53.5M | $47.9M | $49.5M | $55.7M |
| Cost of revenue | $30.9M | $30.3M | $31.1M | $37.0M | $32.1M | $29.6M | $31.3M | $39.2M | $39.1M | $35.5M | $37.8M | $39.5M |
| Gross profit | $12.3M | $8.1M | $6.7M | $10.2M | $8.9M | $6.1M | $6.1M | $10.8M | $14.4M | $12.4M | $11.6M | $16.2M |
| Sales, general & admin | $6.5M | $6.9M | $7.3M | $5.7M | $6.2M | $7.1M | $8.8M | $7.4M | $7.1M | $7.9M | $19.9M | $7.6M |
| Total operating expenses | $14.7M | $13.4M | $14.2M | $13.0M | $14.2M | $14.9M | $30.1M | $22.9M | $20.9M | $21.8M | $38.9M | $24.2M |
| Operating income | −$2.3M | −$5.3M | −$7.5M | −$2.8M | −$5.3M | −$8.7M | −$23.9M | −$12.1M | −$6.5M | −$9.4M | −$27.2M | −$8.0M |
| Interest income | $347,000 | $324,000 | $363,000 | $407,000 | $463,000 | $497,000 | $701,000 | $663,000 | $737,000 | $602,000 | $2.7M | $705,000 |
| Interest expense | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $14,000 | $56,000 | $91,000 | $1,000 |
| Income before taxes | −$2.0M | −$4.9M | −$7.2M | −$2.4M | −$4.8M | −$9.4M | −$23.2M | −$11.5M | −$5.8M | −$8.8M | −$27.4M | −$7.3M |
| Income taxes | $19,000 | −$19,000 | $189,000 | $2,000 | — | — | $108,000 | −$43,000 | $95,000 | −$2,000 | −$61,000 | $955,000 |
| Net income | −$2.0M | −$4.9M | −$7.4M | −$2.4M | −$4.8M | −$9.4M | −$23.3M | −$11.4M | −$5.9M | −$8.8M | −$27.3M | −$7.3M |
| EBITDA | −$490,000 | −$3.3M | −$4.9M | $214,000 | −$2.1M | −$5.8M | −$16.1M | −$6.5M | −$2.2M | −$5.0M | −$23.2M | −$2.6M |
| EPS (diluted) | −$0.03 | −$0.08 | −$0.12 | −$0.04 | −$0.08 | −$0.16 | −$0.39 | −$0.19 | −$0.10 | −$0.12 | −$0.44 | −$0.12 |
| Gross margin | 28.5% | 21.2% | 17.8% | 21.6% | 21.7% | 17.1% | 16.4% | 21.6% | 26.9% | 25.8% | 23.5% | 29.1% |
| Operating margin | −5.4% | −13.7% | −19.7% | −6.0% | −12.9% | −24.5% | −63.9% | −24.2% | −12.2% | −19.7% | −55.0% | −14.4% |
| Net margin | −4.7% | −12.8% | −19.6% | −5.2% | −11.7% | −26.3% | −62.4% | −22.9% | −11.0% | −18.5% | −55.2% | −13.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GRWG's financial statements (latest annual report filed March 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GRWG financial results
In fiscal year 2025 (ended December 31, 2025), GrowGeneration reported revenue of $161.7 million, down 14.4% from the year before. It had a net loss of $24.0 million, a net profit margin of −14.9%. Diluted earnings per share came to −$0.40. Over five years revenue grew at an average rate of −3.5% a year.
See the GRWG stock overview for the latest quote and news, or the GRWG chart for price history and technical indicators.
GRWG income statement FAQ
What is GrowGeneration's annual revenue?
GrowGeneration reported total revenue of $161.7 million for fiscal year 2025, which ended on December 31, 2025. That was down 14.4% from $188.9 million the previous year.
Is GrowGeneration profitable?
No. GrowGeneration reported a net loss of $24.0 million in fiscal 2025, a net profit margin of −14.9%; its operating margin was −15.0%.
What is GrowGeneration's gross margin?
GrowGeneration's gross margin was 19.8% in fiscal 2025: for every $100 of revenue, GrowGeneration kept $20 after the direct cost of its products and services.
How fast is GrowGeneration growing?
Revenue grew −3.5% a year on average over the last five fiscal years, from $193.4 million to $161.7 million.
What are GrowGeneration's earnings per share?
GrowGeneration earned $-0.40 per diluted share in fiscal 2025, compared with $-0.80 a year earlier.
When will GrowGeneration report its next earnings?
GrowGeneration is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does GrowGeneration's fiscal year end?
GrowGeneration's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 20, 2026.