Growth in Proprietary Brand Sales
Proprietary product sales accounted for 32% of total revenue, up from 22.6% in the prior year, showcasing a significant shift towards own brands like Drip Hydro and Charcoir.
Gross Margin Improvement
Gross margins increased to 27.2%, up from 25.8% in the previous year, reflecting a stronger product mix and disciplined execution on procurement and freight.
Strong Liquidity Position
The company ended the quarter with $52.6 million in total liquidity and no debt, providing ample flexibility to fund operations and strategic initiatives.
Launch of GrowGen Pro Portal
The digital B2B platform for commercial growers is fully operational, providing features like real-time inventory and automated quoting, representing the future of GrowGen's customer engagement.