GrowGeneration Corp. (NASDAQ:GRWG) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET

Corporate Participants

Clay Crumbliss - Managing Director, ICR

Darren Lampert - Co-Founder and Chief Executive Officer

Jeff Lasher - Chief Financial Officer

Conference Call Participants

Scott Fortune - ROTH Capital

Aaron Grey - Alliance Global Partners

Ryan Meyers - Lake Street Capital Markets

Andrew Carter - Stifel

Eric Des Lauriers - Craig-Hallum

Andrew Chasanoff - Oppenheimer

Glenn Mattson - Ladenburg Thalmann

Operator

Good day ladies and gentlemen and welcome to GrowGeneration Second Quarter 2022 Earnings Results Conference Call. Today's call is being recorded.

For opening remarks, I will turn the call over to Clay Crumbliss from ICR. Please go ahead.

Clay Crumbliss

Welcome everyone to the GrowGeneration second quarter 2022 earnings results conference call. Today's call is being recorded.

With us today are Mr. Darren Lampert, Co-Founder and Chief Executive Officer; and Jeff Lasher, Chief Financial Officer of GrowGeneration Corp.

You should have access to the company's first quarter earnings press release issued after the market closed today. This information is available on the Investor Relations section of GrowGeneration's website at ir.growgeneration.com.

Certain comments made on this call include forward-looking statements, which are subject to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking state statements are based on management's current expectations and beliefs concerning future events and are subject to several risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements. Please refer to today's press release and other filings with the SEC for a detailed discussion of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today.

During the call, we will use some non-GAAP financial measures as we describe business performance. The SEC filing as well as the earnings press release which provide reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are all available on our website. Following our prepared remarks, we will take questions from research analysts. We ask that you please limit yourself to one question and one follow-up. If you have additional questions, please re-enter the queue and we'll take them as time allows.

Now, I will turn the call over to our Co-Founder and CEO, Darren Lampert. Darren?

Darren Lampert

Thank you, Clay and good afternoon everyone. Thank you for joining us today to discuss our second quarter 2022 financial results. I will begin with a brief discussion of the challenges that continue to pressure, all aspects of the U.S. cannabis and hydroponic markets. I'll then provide an overview of how our growth GrowGen business is performing. And I'll highlight the aggressive, proactive steps we're taking to adapt, then I'll finish by reiterating our confidence in the longer term strategic plan for GrowGeneration. I will then turn the call over to our CFO, Jeff Lasher, who will take you through the details of our second quarter results and our updated full year 2022 guidance.