GrowGeneration Corp. Files 8-K on Financials and Operations

Ticker: GRWG · Form: 8-K · Filed: Jul 23, 2024 · CIK: 1604868

Sentiment: neutral

Topics: financial-condition, operations, disclosure

Related Tickers: GRWG

TL;DR

GRWG filed an 8-K on July 22, 2024, detailing financial results and operational updates.

AI Summary

GrowGeneration Corp. filed an 8-K on July 23, 2024, reporting on results of operations and financial condition as of July 22, 2024. The filing also includes information on costs associated with exit or disposal activities, Regulation FD disclosures, and financial statements and exhibits. The company, formerly known as EasyLife, Corp., is incorporated in Colorado and headquartered in Greenwood Village, CO.

Why It Matters

This 8-K filing provides crucial updates on GrowGeneration's financial performance and operational activities, which could impact investor decisions and stock valuation.

Risk Assessment

Risk Level: medium — 8-K filings often contain material information that can significantly impact a company's stock price, requiring careful investor attention.

Key Players & Entities

FAQ

What specific financial results are being reported in this 8-K?

The filing indicates it pertains to 'Results of Operations and Financial Condition' as of July 22, 2024, but the specific financial figures are not detailed in the provided text.

What is the significance of 'Cost Associated with Exit or Disposal Activities' being mentioned?

This suggests GrowGeneration may be undergoing restructuring, divesting assets, or closing operations, which could have financial implications.

When was GrowGeneration Corp. formerly known as?

The company was formerly known as EasyLife, Corp., with a name change date of April 4, 2014.

Where are GrowGeneration Corp.'s principal executive offices located?

The principal executive offices are located at 5619 DTC Parkway, Suite 900, Greenwood Village, CO 80111.

What is the filing date and the earliest event date reported in this 8-K?

The filing date is July 23, 2024, and the earliest event reported is July 22, 2024.

Filing Stats: 810 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-07-23 11:12:45

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On July 22, 2024 , GrowGeneration Corp. (the "Company") issued a press release announcing certain preliminary financial results for the fiscal quarter ended June 30, 2024. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

05 Costs Associated with Exit or Disposal Activities

Item 2.05 Costs Associated with Exit or Disposal Activities. On July 22, 2024 , the Company announced a strategic restructuring plan focused on long-term profitability and advancing growth initiatives in key areas of its Gardening and Cultivation segment such as its proprietary brands, commercial sales, and e-commerce business. These restructuring plans primarily include reductions in cost structure by closing and consolidating twelve redundant or underperforming retail locations, in addition to the seven retail locations closed in the first half of 2024, workforce reductions, and other operational improvements. The Company expects that the restructuring activities will be substantially completed by the end of fiscal year 2024 and that these strategic restructuring activities will improve profitability and generate annualized cost savings of approximately $12.0 million. The Company is unable to make a good faith determination of an estimate or range of estimates for any additional charges that it will incur in connection with the broader restructuring plan, required by paragraphs (b), (c) and (d) of Item 2.05 of Form 8-K, including charges related to the consolidation or elimination of real estate leases. The Company will file an amendment to this report after it makes a determination of such estimates or range of estimates, if any. The Company intends to exclude the charges associated with the restructuring plan from its non-GAAP financial measures, including Adjusted EBITDA.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On July 22, 2024 , the Company issued a press release announcing information related to the events described in Item 2.02 and Item 2.05 above. A copy of the press release, which is attached to this Current Report on Form 8-K as Exhibit 99.1, is furnished pursuant to this Item 7.01. The information in Item 2.02 and Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such a filing. I tem 9.01. Financial Statements and Exhibits (c) Exhibits Exhibit No. Description 99.1 Press release dated July 22, 2024 104 Cover Page Interactive Data File, formatted XBRL Document

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: July 23, 2024 GrowGeneration Corp. By: /s/ Darren Lampert Name: Darren Lampert Title: Chief Executive Officer

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