HYDROFARM HOLDINGS GROUP, INC.

Listed Company

HYFMCIK 0001695295NasdaqNon-AcceleratedSmaller ReportingWholesale-Miscellaneous Nondurable GoodsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$134.25M

Net Income

$-289.79M

Total Assets

$123.80M

Equity

$-63.30M

Shares Out

4.76M

Op. Cash Flow

$-14.06M

Business

HYDROFARM HOLDINGS GROUP, INC. is an independent manufacturer and distributor of controlled environment agriculture (CEA) equipment and supplies. It offers grow lights, climate control solutions, grow media, nutrients and a broad portfolio of proprietary and preferred branded products. The business operates manufacturing and distribution capabilities, including multiple manufacturing facilities and distribution centers, and sells both consumable and durable product lines under approximately 35 proprietary brands and over 50 preferred brands. Products are sold primarily across the United States and Canada through a network of wholesale accounts, specialty retailers, resellers, garden centers, hardware stores and a B2B e‑commerce platform.

Summary from filing dated 2025-03-05

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	134	190	227	345	479
Cost of goods sold	119	158	189	315	378
Gross profit	15	32	38	29	101
Selling, general and administrative	60	73	87	119	104
Impairments	232	0	—	—	—
Loss on asset disposition	0	12	0	—	—
Loss from operations	−277	−52	−50	−282	−3
Interest expense	−13	−15	−15	—	—
Other (expense) income, net	−185,000	2	118,000	696,000	−204,000
Loss before tax	−291	−66	−65	−292	−6
Income tax benefit (expense)	740,000	−869,000	213,000	6	19
Net loss	−290	−67	−65	−285	13
Basic (in dollars per share)	−62.35	−14.51	−14.24	−6.35	0.34
Diluted (in dollars per share)	−62.35	−14.51	−14.24	−6.35	0.31
Basic (in shares)	5	5	5	45	40
Diluted (in shares)	5	5	5	45	43

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	6	26	30	21	27
Accounts receivable, net	8	15	17	17	41
Inventories	33	51	75	111	189
Prepaid expenses and other current assets	4	4	6	5	10
Total current assets	51	95	128	155	269
Property, plant and equipment, net	30	38	47	51	50
Operating lease right-of-use assets	38	43	54	65	45
Intangible assets, net	3	249	276	300	315
Other assets	1	1	2	2	6
Total assets	124	426	508	574	891
Accounts payable	10	12	13	14	27
Accrued expenses and other current liabilities	8	11	10	13	34
Deferred revenue	3	3	3	4	18
Current portion of operating lease liabilities	8	8	8	9	7
Current portion of finance lease liabilities	455,000	459,000	954,000	704,000	—
Current portion of long-term debt	112	1	3	1	—
Total current liabilities	140	35	38	42	88
Long-term operating lease liabilities	33	38	48	56	39
Long-term finance lease liabilities	7	8	9	1	—
Long-term debt	50,000	115	115	117	—
Deferred tax liabilities	2	3	3	3	6
Other long-term liabilities	5	4	4	4	4
Total liabilities	187	202	217	224	256
Commitments and contingencies (Note 15)	—	—	—	—	—
Common stock ($0.0001 par value; 300,000,000 shares authorized; 4,667,004 and 4,614,279 shares issued and outstanding at December 31, 2025, and December 31, 2024, respectively)	0	0	0	5,000	4,000
Additional paid-in capital	791	790	788	783	777
Accumulated other comprehensive loss	−7	−9	−6	−7	−1
Accumulated deficit	−847	−557	−491	−426	−141
Total stockholders (deficit) equity	−63	224	291	350	635
Total liabilities and stockholders (deficit) equity	124	426	508	574	891

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation, depletion and amortization	23	31	32	42	15
Provision for credit losses	838,000	314,000	−386,000	3	−110,000
Provision for inventory obsolescence	1	2	2	16	1
Restructuring expenses	4	806,000	—	—	—
Stock-based compensation expense	1	2	5	8	5
Non-cash operating lease expense	8	8	10	10	6
Non-cash loss from asset disposition	0	11	0	—	—
Other	126,000	1	2	1	1
Accounts receivable	6	2	766,000	17	−2
Inventories	12	14	26	57	−47
Prepaid expenses and other current assets	120,000	2	−49,000	4	3
Other assets	−90,000	−55,000	−172,000	262,000	−2
Accounts payable	−3	56,000	−1	−12	−12
Accrued expenses and other current liabilities	−3	2	−4	−5	−3
Deferred revenue	117,000	−601,000	−439,000	−13	5
Lease liabilities	−8	−9	−9	−8	−5
Other long-term liabilities	59,000	11,000	−55,000	−370,000	0
Net cash used in operating activities	−14	−324,000	7	22	−45
Capital expenditures of property, plant and equipment	−1	−3	−4	−8	−5
Proceeds from sale of property, plant and equipment	183,000	861,000	96,000	—	—
Cash proceeds from IGE Asset Sale for property, plant and equipment	0	4	0	—	—
Net cash (used in) from investing activities	−841,000	2	−4	−8	−468
Payment of withholding tax related to stock awards	−46,000	−142,000	−271,000	−2	−20
Borrowings under foreign revolving credit facilities	351,000	378,000	965,000	853,000	143
Repayments of foreign revolving credit facilities	−371,000	−453,000	−970,000	−1	−143
Repayments of Term Loan	−5	−3	−1	−1	0
Finance lease principal payments	−463,000	−1	−1	—	—
Net cash used in financing activities	−5	−5	6	−20	465
Effect of exchange rate changes on cash and cash equivalents	536,000	−770,000	82,000	−395,000	−27,000
Net decrease in cash and cash equivalents	−20	−4	9	−7	−49
Right-of-use assets acquired (relinquished) under operating lease obligation	2	−2	−1	—	—
Capital expenditures included in accounts payable and accrued liabilities	31,000	76,000	200,000	611,000	—
Additions of leasehold improvements and related asset retirement obligations	68,000	0	349,000	987,000	—
Cash paid for interest	13	13	13	10	2
Cash paid for income taxes	44,000	201,000	−1	4	2

Filings

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