Hydrofarm Holdings Group Inc. (HYFM) Financial Statements (2024 and earlier)

Company Profile

Business Address 1510 MAIN STREET
SHOEMAKERSVILLE, PA 19555
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 519 - Miscellaneous Non-durable Goods (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments30,31221,29126,607
Cash and cash equivalents30,31221,29126,607
Restricted cash and investments   1,777
Receivables16,89017,70242,106
Inventory, net of allowances, customer advances and progress billings75,354111,398189,134
Inventory75,354111,398189,134
Other undisclosed current assets5,5104,5579,760
Total current assets:128,066154,948269,384
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 9,3152,0052,365
Operating lease, right-of-use asset54,49465,26545,245
Property, plant and equipment   
Intangible assets, net (including goodwill)275,881300,366519,687
Goodwill   204,868
Intangible assets, net (excluding goodwill)275,881300,366314,819
Deferred income tax assets 214 393
Other noncurrent assets1,8421,8456,453
Other undisclosed noncurrent assets 37,83149,13047,715
Total noncurrent assets:379,577418,611621,858
TOTAL ASSETS:507,643573,559891,242
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities20,74224,64756,353
Taxes payable729
Employee-related liabilities3,713
Accounts payable12,61313,63344,958
Accrued liabilities8,12911,0146,953
Deferred revenue3,2313,654 
Debt2,9892,0112,263
Deferred compensation liability   9
Asset retirement obligation759  
Business combination, contingent consideration, liability   17,034
Other undisclosed current liabilities9,93111,29312,756
Total current liabilities:37,65241,60588,415
Noncurrent Liabilities
Long-term debt and lease obligation, including:115,412118,661119,517
Long-term debt, excluding current maturities115,412122,603123,914
Finance lease, liability8,7341,2001,628
Other undisclosed long-term debt and lease obligation(8,734)(5,142)(44,620)
Liabilities, other than long-term debt59,69263,4129,535
Asset retirement obligations4,457  
Deferred income tax liabilities3,2322,6855,631
Other liabilities4,4974,4283,904
Operating lease, liability47,50656,29938,595
Other undisclosed noncurrent liabilities4,277 38,595
Total noncurrent liabilities:179,381182,073167,647
Total liabilities:217,033223,678256,062
Equity
Equity, attributable to parent290,610349,881635,180
Common stock554
Additional paid in capital787,846783,042777,074
Accumulated other comprehensive loss(6,497)(7,235)(1,382)
Accumulated deficit(490,744)(425,931)(140,516)
Total equity:290,610349,881635,180
TOTAL LIABILITIES AND EQUITY:507,643573,559891,242

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
Revenues226,581344,501479,420
Cost of revenue
(Cost of Goods and Services Sold)
(188,969)(315,165)(377,934)
Gross profit:37,61229,336101,486
Operating expenses(87,314)(310,932)(104,185)
Operating loss:(49,702)(281,596)(2,699)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
118841(204)
Interest and debt expense(15,442)(11,103)(2,818)
Loss from continuing operations before income taxes:(65,026)(291,858)(5,721)
Income tax benefit2136,44319,137
Income (loss) from continuing operations:(64,813)(285,415)13,416
Income before gain (loss) on sale of properties:13,416
Net income (loss) available to common stockholders, diluted:(64,813)(285,415)13,416

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
Net income (loss):(64,813)(285,415)13,416
Comprehensive income (loss):(64,813)(285,415)13,416
Other undisclosed comprehensive income (loss), net of tax, attributable to parent738(5,853)(1,981)
Comprehensive income (loss), net of tax, attributable to parent:(64,075)(291,268)11,435

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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