"The GrowGen team delivered a strong third quarter, with revenues up 111%, compared to the same period last year in a difficult macro environment," Darren Lampert, the company's co-founder and CEO, said.
Q3 2021 Financial Highlights
- Same-store sales at 25 locations open for the same period in 2020 and 2021 were $59.2 million versus $51.2 million for the same period of last year, representing a 15.7% increase year over year.
- The gross profit margin was 29.4%, compared to 26.5% in the same quarter of 2020, an increase of 290 basis points.
- GAAP net income before tax hovered around $5.1 million.
- Net income was $4 million, or 7 cents per share based on a basic share count of 58.5 million.
- Adjusted EBITDA was $10.8 million, versus $6.6 million for the same period of 2020.
- Private …