GrowGeneration (GRWG) Investor presentation summary

Business transformation and growth strategy

• Transitioned from hydroponics retailer to branded cultivation infrastructure platform, expanding into controlled environment agriculture (CEA) and mainstream lawn & garden markets.

• Proprietary brands now account for 37% of Q1 2026 revenue, supporting higher margins and scalable growth.

• Strategic focus on B2B platform, commercial customers, and operational efficiency through retail consolidation and digital infrastructure.

• International expansion underway, targeting Europe and Central America.

• Diversified distribution channels, including partnerships with Arett Sales for access to thousands of independent garden centers.

Financial performance and position

• Q1 2026 net sales reached $38.4M, with gross margin at 25.4% and proprietary brands driving margin growth.

• Adjusted EBITDA improved to -$1.6M, a $2.4M year-over-year improvement; net loss reduced to -$4.9M.

• Operating expenses down 23.4% year-over-year, with $27M in costs removed in 2025.

• Maintains a robust, debt-free balance sheet with $41.1M in cash as of March 31, 2026.

• On track to achieve positive adjusted EBITDA, with net sales trending higher and a lean cost structure.

Market opportunity and catalysts

• Serves the entire CEA market, projected to reach $250B globally by 2035, with U.S. CEA infrastructure at $20B+.

• Cannabis rescheduling to Schedule III removes significant tax burdens, unlocking capital for major cultivators and driving capex restarts.

• U.S. greenhouse produce market growing 8-10% annually, with food security and reshoring fueling investment.

• Strategic partnerships and proprietary brands enable entry into new segments, including specialty crops and florals.

• Positioned with leading multi-state operators (MSOs) and ready to benefit from industry tailwinds and regulatory changes.