GrowGeneration Corp. (NASDAQ:GRWG) Q1 2022 Earnings Conference Call May 10, 2022 5:00 PM ET

Company Participants

Clay Crumbliss - Managing Director

Darren Lampert - Co-Founder and Chief Executive Officer

Jeff Lasher - Chief Financial Officer

Conference Call Participants

Brian Nagel - Oppenheimer

Aaron Grey - Alliance Global Partners

Andrew Carter - Stifel

Scott Fortune - ROTH Capital

Glenn Mattson - Ladenburg Thalmann

Ryan Meyers - Lake Street Capital Markets

Operator

Please stand by. Good day everyone and welcome to GrowGeneration First Quarter 2022 Earnings Call.

At this time, I'd to turn the call over to Clay Crumbliss. Please go ahead sir.

Clay Crumbliss

Thank you and welcome everyone to the GrowGeneration first 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 close 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 provides reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are all available on our website. Following prepared remarks, we will take questions from research analysts. We ask that you 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 first quarter 2022 financial results and full year guidance. I will begin with a brief discussion of our challenging start to the year, which has been slower than we hope; followed by a summary of what we're currently seeing in the U.S. cannabis market. And I'll finish by reiterating our confidence in the longer term strategic vision for GrowGeneration, highlighting some positive developments in the quarter against that strategy. I will then turn the call over to our CFO, Jeff Lasher, who will take you through the details for our first quarter results and our updated full year 2022 guidance.