The company, which since 2014 has dealt in the ancillary side of the cannabis business, last week reported record quarterly revenues of $43.5 million and upped its forecast for the current fiscal year to between $170 million and $175 million, up from the $130 million to $135 million the company first predicted earlier this year.
GrowGeneration, which Wall Street values at $770.5 million, more than doubled its revenue in the three-month period ending June 30. The $43.5 million the company produced last quarter was a 123% increase from the $19.5 million it recorded in the year-ago quarter. The results came amid a quarter defined by an economic lockdown intended to slow the spread of a novel coronavirus.
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