GrowGeneration Corp. (OTCQX: GRWG), announced this morning that the company has generated $14.4M in revenue for 2017.
Grow Generation Corp. is one of the largest retail hydroponic and organic gardening stores, which specializes in both the commercial and home cannabis markets. The company sells over 10,000 different products such as grow lights, fan, nutrients, soils and mediums, containers & trays, and harvesting equipment at its 15 different locations across the United States. ThGrow
Generation also provides consulting services to
those looking for advise on the buildout grow operations.
Fiscal Year 2017 Financial Highlights:
- Revenue of $14.4 million, up 80% compared to revenue of $8 million for 2016
- Same-Store Sales increased 35% from $6.4 million for 2016 compared to $8.6 million for FY 2017
- Adjusted EBITDA for the year ended December 31, 2017 totaled $(1,096,580) compared to adjusted EBITDA of $(45,575) for the year ended December 31, 2016
- The Company had $1.2 million in cash as of December 31, 2017, $8.0 million at March 23, 2018
- As of December 31, 2017, the Company had $5.6 million in working capital compared to $2.8 million in working capital as of December 31, 2016.
- The Company raised $5.2 million in equity capital for the year ended December 31, 2017 through the issuance of common stock and the exercise of warrants.
- 2018 Revenue guidance set at $37 Million