GrowGeneration Releases Year-End Letter to Shareholders for 2024 and Shares Business Update with Preliminary Annual Results

GrowGeneration Corp. (NASDAQ: GRWG), a leading retailer of hydroponic and organic gardening products, has released a letter to shareholders detailing the company’s transformative achievements in 2024 and outlook for 2025. CEO Darren Lampert highlighted significant changes, including a shift towards proprietary brand sales, which accounted for over 30% of fourth-quarter revenue, with a target of reaching 35% by the end of 2025. The company launched a new B2B e-commerce platform and streamlined operations, reducing annual expenses by approximately $12 million. Anticipated 2024 revenues are projected between $188 million and $190 million, with a debt-free balance sheet. Looking forward, GrowGeneration aims to enhance profitability through innovation, expand its proprietary product sales, and explore strategic acquisitions, positioning itself as a leader in the hydroponics market amidst evolving regulatory landscapes in the cannabis industry.

GrowGeneration Releases Year-End Letter to Shareholders for 2024 and Shares Business Update with Preliminary Annual Results

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