Exhibit 99.1

GrowGeneration Reports Record Q2 2019 Revenues and Net Income

DENVER, CO, Aug. 8, 2019 /PRNewswire/ - GrowGeneration Corp. (OTCQX: GRWG), ("GrowGen" or the "Company")  the largest chain of specialty hydroponic and organic garden centers, with currently 23 locations, today reported financial results for its quarter ended June 30, 2019.

Q2 2019 Financial Highlights:

Darren Lampert, Co-Founder and CEO, said, "the Company's second quarter financial results reflect our company's continued focus on revenue growth and EBITDA expansion. We improved the financial performance of the Company in all areas. Revenue was up 172% year over year to $19.5 million. Adjusted EBITDA was approximately $1.8 million, with adjusted EPS at a positive $.06. Our same store sales were up 23% versus Q2 2018. Gross profit margins increased 5.7 basis points, to 29.9%. Gross profit dollars were $5.8 million for the 2^nd quarter 2019, an increase of $4.1 million versus the same period year over year. With our significant top and bottom-line growth, we were able to reduce our store operating expenses by 13% and our corporate overhead by over 42 % as a percentage of our revenue. The Company continues its rollout of its new ERP platform, adding our Northern California, Michigan, Maine, Oklahoma and Rhode Island stores to our ERP system in 2019.  The GrowGen ERP platform is designed to lower costs, improve departmental productivity, and provides forecasting and reporting tools. All of our current store operations will be on our ERP platform by the end of 2019.

The newly acquired stores and new store openings are all performing better than expected and have been successfully integrated into the operations of the overall company. The Company has nearly $18.0 million in cash, which will allow the Company to continue to grow at a rate of 100% year over year. We appointed Bob Nardelli, former CEO of Home Depot, as Senior Strategic Advisor, who will provide advice on matters relating to strategic partnerships, supply chain, merchandise, branding, distribution, new product introductions, pricing and channel selection. We have a strong pipeline of new acquisition targets set to close in the second half of 2019. The Company is also investing in an aggressive new store opening plan, working with a National real estate company to locate properties in all major cities in the U.S. We are raising our revenue guidance for 2019 revenue to $65M-70M and non-GAAP adjusted EBITDA of $.14-$.18 per share, based on 34.8 million shares outstanding."

Key Performance Metrics:

Summary of Q2 2019 and Q2 2018 results:

Net revenue for the three months ended June 30, 2019 increased approximately $12.3 million, or 172%, to approximately $19.5 million, compared to approximately $7.2 million for the three months ended June 30, 2018. The increase in revenues in 2019 was primarily due to the addition of 14 new stores opened or acquired after April 1, 2018, and the new e-commerce site acquired in mid-September 2018. The 14 new stores and the new e-commerce web site contributed $12.7 million in revenue for the quarter ended June 30, 2019.

Cost of goods sold for the three months ended June 30, 2019 increased approximately $8.2 million, or 152%, to approximately $13.7 million, as compared to approximately $5.4 million for the three months ended June 30, 2018. The increase in cost of goods sold was primarily due to the 172% increase in sales comparing the three months ended June 30, 2019 to the three months ended June 30, 2018. The increase in cost of goods sold is directly attributable to the increase in the number of stores.

Gross profit was approximately $5.8 million for the three months ended June 30, 2019, compared to approximately $1.7 million for the three months ended June 30, 2018, an increase of approximately $4.1 million or 237%. Gross profit as a percentage of sales was 29.9% for the three months ended June 30, 2019, compared to 24.2% for the three months ended June 30, 2018. The increase in the gross profit margin percentage is due to (1) reduced pricing from vendors as a result of our increasing purchasing from those vendors, (2) the sales of product acquired in a large bulk purchase in Q1 2019 at a substantial discount. 

Store operating costs as a percentage of sales were 14% for the three months ended June 30, 2019, compared to 16.1% for the three months ended June 30, 2018. Store operating costs were positively impacted by the acquisitions of new stores in 2018 and 2019 which have lower percentage of operating costs to revenues due to their larger size and higher volume. The net impact was lower store operating costs as a percentage of revenues.

Corporate overhead, comprised of general and administrative costs, share based compensation, depreciation and amortization and corporate salaries, was 9.8% of revenue for the three months ended June 30, 2019 and 16.8% for the three months ended June 30, 2018

Corporate overhead, excluding non-cash share-based compensation, depreciation and amortization, was 7% of revenues for the three months ended June 30, 2019 and 11% for the three months ended June 30, 2018.

The Company currently continues to focus on nine (9) markets and the new e-commerce site noted below and the growth opportunities that exist in each market. We continue to focus on new store acquisitions, proprietary products and the continued development of our online and Amazon sales.

The Company continues its rollout of its new ERP solution, which it started in Q4 2018, adding our Northern California, Michigan, Maine, Oklahoma and Rhode Island stores to our ERP system in 2019.  The ERP system is designed to improve departmental productivity and effectiveness and provides forecasting and reporting tools.

Balance Sheet Summary

As of June 30, 2019, we had working capital of approximately $29.6 million, compared to working capital of approximately $21.6 million as of December 31, 2018, an increase of approximately $8 million. The increase in working capital from December 31, 2018 to June 30, 2019 was due primarily to 1) proceeds from the sales of common stock and exercise of warrants totaling $13.1 million during the six months ended June 30, 2019 offset by 2) the application of a new accounting standard related to accounting for operating leases which resulted in a $1.6 million increase in current liabilities. At June 30, 2019, we had cash and cash equivalents of approximately $17.9 million. As of the date of this filing, we believe that existing cash and cash equivalents are sufficient to fund existing operations for the next twelve months.

Use of Non-GAAP Financial Information

The Company believes that the presentation of results excluding certain items in "Adjusted EBITDA," such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with generally accepted accounting principles.

Set forth below is a reconciliation of Adjusted EBITDA to net income (loss): 

Net income, on a GAPP basis was $1,062,000 for the 3 months ending June 30,2019. With the adjustments for interest, depreciation, amortization, and stock-based compensation, adjusted EBITDA was $1,779,310, or $.06 per share.

About GrowGeneration Corp.:

GrowGen owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 23 stores, which include 5 locations in Colorado, 5 locations in California, 2 locations in Nevada, 1 location in Washington, 3 locations in Michigan, 1 location in Rhode Island, 2 locations in Oklahoma, 1 in New Hampshire and 3 locations in Maine. GrowGen also operates an online superstore for cultivators, located at HeavyGardens.com. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers. Our mission is to own and operate GrowGeneration branded stores in all the major states in the U.S. and Canada. Management estimates that roughly 1,000 hydroponic stores are in operation in the U.S. By 2020 the market is estimated to reach over $23 billionwith a compound annual growth.

Forward Looking Statements:

This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as "look forward," "believe," "continue," "building," or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by us herein are often discussed in filings we make with the United States Securities and Exchange Commission, available at: www.sec.gov, and on our website, at: www.growgeneration.com.

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GROWGENERATION CORPORATION AND SUBSIDIARIES
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GROWGENERATION CORPORATION AND SUBSIDIARIES 
CONSOLIDATED STATEMENT OF OPERATIONS
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