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May 12 , 2021 Grow Generation WHERE THE PROS GO TO GROW GrowGeneration Reports Record First Quarter 2021 Financial Results and Raises Full - Year 2021 Guidance Record Revenue increased 173 % to $ 90 million ; 2021 Revenue Guidance Raised to $ 450- $ 470 million and Adjusted EBITDA Guidance to $ 54 to $ 58 million • First Quarter Revenue Increased by 173 % , to $ 90 million • Comparable Store Sales for the Quarter Increased 51 % from Prior Year • Record Earnings of $ 0.10 Per Share in the Quarter DENVER , May 12 , 2021 / PRNewswire / - GrowGeneration Corp. ( NASDAQ : GRWG ) , ( " GrowGen " or the " Company " ) , the largest chain of specialty hydroponic and organic garden centers with 53 locations across 12 states , today reported record first quarter 2021 revenues of $ 90 million , versus $ 33 million in the same period last year . Grow Generation WHERE THE PROS GO TO GROW The Company also reported record first quarter 2021 GAAP pre - tax net income of approximately $ 7.7 million , compared to pre - tax net loss of $ 2.1 million in the same period last year . Fully diluted earnings per share , inclusive of tax expense , was $ 0.10 compared to a net loss in the same period last year . Non - GAAP earnings before interest , taxes , depreciation , amortization and share - based compensation ( Adjusted EBITDA ) was $ 11.1 million , compared to $ 2.4 million in the same period last year . " The GrowGen team delivered an exceptionally strong start to the year , with same store sales up 51 % , demonstrating the hard work of the entire team . For the year so far , we closed 9 acquisitions , adding 15 hydroponic retail locations , bringing our total store count to 53. The strategies implemented several quarters ago , are now positively impacting margins . I am proud and encouraged with our 110 - basis point increase in gross profit margin and 510 - basis point increase in adjusted EBITDA margin . These increases were accomplished despite port delays and supply chain interruptions . In addition , we acquired Char Coir , a line of premium coco - based products and Agron.io , a popular B2B e - commerce website . Both companies are now fully integrated and contributing to both our top and bottom - line