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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments26,68218,70321,29116,49326,44712,157
Cash and cash equivalents26,68218,70321,29116,49326,44712,157
Restricted cash and investments     9981,777
Receivables18,20922,60117,70224,27532,52145,794
Inventory, net of allowances, customer advances and progress billings95,120103,430111,398137,035157,348189,996
Inventory95,120103,430111,398137,035157,348189,996
Other undisclosed current assets5,9526,1044,5578,8529,75711,312
Total current assets:145,963150,838154,948186,655227,071261,036
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   2,005   
Operating lease, right-of-use asset59,40761,15565,26549,25151,92354,566
Property, plant and equipment50,40350,989 51,22452,62251,349
Intangible assets, net (including goodwill)288,606294,348300,366306,168313,464510,349
Goodwill      183,338
Intangible assets, net (excluding goodwill)288,606294,348300,366306,168313,464327,011
Other noncurrent assets1,8521,9271,8453,9764,1694,170
Other undisclosed noncurrent assets   49,130   
Total noncurrent assets:400,268408,419418,611410,619422,178620,434
TOTAL ASSETS:546,231559,257573,559597,274649,249881,470
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities20,37121,82624,64732,11634,81347,670
Taxes payable716
Employee-related liabilities2,6242,9824,283
Accounts payable12,39413,23213,63319,04423,68736,374
Accrued liabilities7,9778,59411,0149,7328,1447,013
Deferred revenue2,3702,5393,6547,06611,33310,887
Debt1,4501,3672,0112,1012,1252,298
Business combination, contingent consideration, liability     15,27415,474
Other undisclosed current liabilities11,45011,50111,2937,4427,86012,552
Total current liabilities:35,64137,23341,60548,72571,40588,881
Noncurrent Liabilities
Long-term debt and lease obligation, including:117,266117,363118,661118,807119,019119,194
Long-term debt, excluding current maturities117,266117,363122,603   
Finance lease, liability9,1939,4261,200   
Other undisclosed long-term debt and lease obligation(9,193)(9,426)(5,142)76,09774,31472,439
Liabilities, other than long-term debt59,57361,03263,4124,5274,88211,183
Deferred income tax liabilities2,6862,6852,685  6,575
Other liabilities4,5664,4684,4284,5274,8824,608
Operating lease, liability52,32153,87956,29942,71044,70546,755
Other undisclosed noncurrent liabilities9,1939,426 42,71044,70546,755
Total noncurrent liabilities:186,032187,821182,073166,044168,606177,132
Total liabilities:221,673225,054223,678214,769240,011266,013
Equity
Equity, attributable to parent324,558334,203349,881382,505409,238615,457
Common stock555544
Additional paid in capital785,893784,101783,042781,430779,911778,463
Accumulated other comprehensive income (loss)(5,695)(7,123)(7,235)(8,267)(3,553)802
Accumulated deficit(455,645)(442,780)(425,931)(390,663)(367,124)(163,812)
Total equity:324,558334,203349,881382,505409,238615,457
TOTAL LIABILITIES AND EQUITY:546,231559,257573,559597,274649,249881,470

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues63,05162,17861,46174,15597,508111,377
Cost of revenue
(Cost of Goods and Services Sold)
(48,578)(50,797)(61,934)(68,291)(90,169)(94,771)
Gross profit:14,47311,381(473)5,8647,33916,606
Operating expenses(23,468)(24,431)(26,197)(26,186)(215,546)(43,003)
Operating loss:(8,995)(13,050)(26,670)(20,322)(208,207)(26,397)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(420)40(130)615458(102)
Interest and debt expense(3,768)(3,692)(3,240)(3,073)(2,424)(2,366)
Loss from continuing operations before income taxes:(13,183)(16,702)(30,040)(22,780)(210,173)(28,865)
Income tax expense (benefit)318(147)(5,228)(759)6,8615,569
Loss from continuing operations:(12,865)(16,849)(35,268)(23,539)(203,312)(23,296)
Loss before gain (loss) on sale of properties:(23,539)(203,312)(23,296)
Net loss available to common stockholders, diluted:(12,865)(16,849)(35,268)(23,539)(203,312)(23,296)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(12,865)(16,849)(35,268)(23,539)(203,312)(23,296)
Comprehensive loss:(12,865)(16,849)(35,268)(23,539)(203,312)(23,296)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1,4281121,032(4,714)(4,355)2,184
Comprehensive loss, net of tax, attributable to parent:(11,437)(16,737)(34,236)(28,253)(207,667)(21,112)

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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