Business
GrowGeneration Reports Record Fiscal Year 2019 Revenues of $80 Million
2020 Revenue Guidance Set at $130-$135 Million Adjusted EBITDA Guidance for 2020 is $11.5 Million-$13.5 MillionQ1 2020 Revenue Guidance $31.5-$32.5 Million
About this update from Growgeneration Corp.
[{"type":"text","content":"2020 Revenue Guidance Set at $130-$135 Million Adjusted EBITDA Guidance for 2020 is $11.5 Million-$13.5 MillionQ1 2020 Revenue Guidance $31.5-$32.5 Million\n DENVER, March 27, 2020 /PRNewswire/ - GrowGeneration Corp. (NASDAQ:GRWG), (\"GrowGen\" or the \"Company\"), the largest chain of specialty hydroponic and organic garden centers, with currently 27 locations, today reported record revenue of $80 million for the 2019 fiscal year end. \n\n \n \n \n \n \n \n\n \n 2019 Financial Highlights:\nRevenues up 174.9% to $79.7 million for 2019 compared to $29 million for 2018 Revenue up 180% to $25.4 million for Q4 2019 compared to $9.1 million for Q4 2018 Same store sales were $13 million for 2019 vs $9.5 million for 2018, a 36% increase Same store sales were $11.9 million for Q4 2019 compared to $7.4 million for Q4 2018, an increase of $4.5 million or 62% Adjusted EBITDA of $6.6 million for 2019 compared to $(823,843) for 2018, $.20 per share, basic Adjusted EBITDA was $2.2 million for Q4 2019 compared to $(178,520) for Q4 2018 Net income of $1.9 million for 2019 compared to Net (loss) of $5.1 million for 2018 Gross profit margin percentage of 28.3% for 2019 compared to 22.2% for 2018 Gross profit was 25.8% for Q4 2019 compared to 15.1% for Q4 2018 Store operating costs as a percentage of sales was 12.7% for 2019 vs 17.9% for 2018 Store operating costs as a percentage of sales was 10.8% for Q4 2019 compared to 19.3% for Q4 2018 Corporate overhead as a percentage of revenue was 12.4% for 2019 vs 18.9% for 2018 Corporate payroll and general and administrative as a percentage of revenue was 8% for 2019 vs 11.2% for 2018 Net income (loss) per share, basic, was $.06 for 2019 vs $(.22) for 2018 Net income (loss) per share, fully diluted, was $.05 for 2019 vs $(.22) for 2018 Cash at December 31, 2019 was $13 million, Cash at March 23, 2020 is $10.4 million Working capital was $30.6 million at December 31, 2019 vs $21.5 million at December 31, 2018 Proceeds from the sale of common stock and warrants was $10.4 million for 2019 All remaining convertible debt converted to commons stock in 2019 For 2020 we changed our independent auditors to Plante Moran, a 90-year-old, 3100-man public accounting firm, with 25 offices in the US and Internationally Total new store and acquired stores for 2019 totaled 10 new store locations Fully deployed enterprise...