GrowGeneration reports record first quarter

Grow Generation, May 12, 2021

On May 12, Merida portfolio company GrowGeneration, the largest chain of specialty hydroponic and organic garden centers with 53 locations across 12 states, reported record first quarter 2021 revenues of $90 million, versus $33 million in the same period last year (+173%).

GrowGen also raised 2021 revenue guidance to $450-$470 million and adjusted EBITDA guidance to $54 to $58 million; record earnings of $0.10 per share in Q1'21; and Q1'21 comparable store sales up 51% from 2020.

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