GrowGeneration GAAP EPS of -$0.09 misses by $0.01, revenue of $81.77M misses by $1.8M

• GrowGeneration press release (NASDAQ:GRWG): Q1 GAAP EPS of -$0.09 misses by $0.01.
• Revenue of $81.77M (-9.2% Y/Y) misses by $1.8M.
• Comparable store sales for the quarter decreased 35.5%.
• Adjusted EBITDA loss of $0.7 million.
• 2022 Outlook: Revenue guidance for 2022 updated to be between $340 to $400 million, down from a range of $415 million to $445 million previously.
• Adjusted EBITDA guidance expected to be between zero and $10 million, down from previous expectations of $30 million to $35 million.
• Expect to add 10-15 new stores this year, down from previous target of 15-20 new stores, given strategic decision not to build new stores in states where there is already physical retail presence.
• Shares -3.42%.