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GrowGeneration Corp. (OTCQX: GRWG) reports RECORD 馃敟3rd quarter REVENUE 馃挵

1,143 views 路 Published 9 November 2018 路 7:34 路 Indexed 23 October 2026

Channel: RICH TV SHOW 路 2018 路 News & Politics

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GrowGeneration Corp. (OTCQX: GRWG) reports RECORD 馃敟3rd quarter REVENUE 馃挵- RICH TV LIVE - November 9, 2018 - 3rd Quarter 2018 Financial Highlights:

Revenue of $8.4 million, up 109%, compared to revenue of $4.0 million for the 3rd quarter of 2017
Store operating costs, as a percentage of revenue, have declined 16% from 19.9% for the 3rd quarter 2017 to 16.8% for the 3rd quarter of 2018
YTD revenue of $20 million, up 86% compare to YTD revenue of $10.7 million for 2017
YTD store operating costs, as a percentage of revenue, have declined from 19.6% for the nine months ended September 30, 2017 to 17.3% for the nine months ended September 30, 2018
Adjusted EBITDA ($71,000) for the 3rd quarter 2018 compared to ($191,000) for the 3rd quarter 2017
The Company had $14.3 million in cash and cash equivalents at September 30, 2018
As of September 30, 2018, the Company had total assets of $36.2 million compared to total assets of $9.2 million at December 31, 2017
As of September 30, 2018, the Company had working capital of $23.1 million compared to working capital of $5.6 million at December 31, 2017
The Company raised approximately $12.5 million in equity capital through the issuance of common stock and the exercise of warrants and $9.0 million in convertible debt financing for the nine-month period ended September 30, 2018
Three new stores acquired in Q3 2018, one of which was our new e-commerce site, HeavyGardens.com
Formed GrowGeneration Canada Corp.
Formed GrowGeneration Hemp Corp.
Revenue run rate guidance in excess of $42 million heading into 2019, $10.0 million for Q4 2018
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