GrowGeneration Corp 2026年季度报告

FORM 10-Q For Quarter Ended:March 31, 2026OR GROWGENERATION CORP.(Exact name of registrant as specified in its charter) Colorado (IRS EmployerID No.) 5619 DTC Parkway, Suite 900Greenwood Village, Colorado 80111(Address of principal executive offices) (800) 935-8420(Issuer's Telephone Number) Securities registered pursuant to Section12(b) of the Act: Name of each exchange on which registered Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Actduring the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days: Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted andposted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter periodthat the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerAccelerated filer Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May4, 2026 there were 60,090,905 shares of the registrant's common stock issued and outstanding. TABLE OF CONTENTS PageNo. PART I FINANCIAL INFORMATION Item 1.Financial Statements (Unaudited)1Condensed Consolidated Balance Sheets1Condensed Consolidated Statements of Operations2Condensed Consolidated Statements of Stockholders' Equity3Condensed Consolidated Statements of Cash Flows4Notes to Condensed Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations17Item 3.Quantitative and Qualitative Disclosures About Market Risk25Item 4.Controls and Procedures25 Item 1.Legal Proceedings26Item1A.Risk Factors26Item 2.Unregistered Sales of Equity Securities and Use of Proceeds26Item 3.Defaults Upon Senior Securities26Item 4.Mine Safety Disclosures26Item 5.Other Information26Item 6.Exhibits27Signatures28 GROWGENERATION CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited, in thousands, except share and per share amounts) GROWGENERATION CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited, in thousands, except share and per share amounts) GROWGENERATION CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY(Unaudited, in thousands except shares) The accompanying notes are an integral part of these Condensed Consolidated Financial Statements. GROWGENERATION CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited, in thousands) GROWGENERATION CORP. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTSMarch31, 2026(Unaudited) 1. GENERAL GrowGeneration Corp. (together with its direct and indirect wholly-owned subsidiaries, collectively "GrowGeneration" or the"Company") was incorporated in Colorado in 2014. Since then, GrowGeneration has grown from a small chain of specialty retailhydroponic and organic garden centers to a multifaceted business with diverse assets. Today, GrowGeneration operates two major linesof business: its Cultivation and Gardening segment, composed of the Company's hydroponic and organic gardening business; and itsStorage Solutions segment, composed of the Company's benching, racking, and storage solutions business. As of March31, 2026, GrowGeneration has 19 retail locations across 9 states in the U.S. The Company also operates an onlinesuperstore at growgeneration.com, as well as a wholesale distribution business for resellers and mass-market retailers, and a benching,racking, and storage solutions business, Mobile Media or MMI. Basis of Presentation The accompanying interim unaudited Condensed Consolidated Financial Statements have been prepared in accordance withaccounting principles generally accepted in the United States of America ("U.S. GAAP") and the applicable rules and regulations ofthe Securities and Exchange Commission ("SEC"). Accordingly, they do not include all of the information and notes required by U.S.GAAP for complete financial statements.In the opinion of management, all adjustments (consisting of normal recurring adjustments)considered necessary for a fair presentation have been included. These statements should be read in conjunction with the Company'sAnnual Report on Form 10-K for the fiscal year ended December31, 2025 ("2025 Form 10-K").There were no significant changes tothe Company's significant accounting policies as