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HYFM

Hydrofarm Holdings Group, Inc.

HYFM

Hydrofarm Holdings Group, Inc. • NASDAQ
$1.84 ▲ 2.79% (+0.05)
Market Cap $8.59 M
52w High $8.20
52w Low $1.50
Dividend Yield 0%
P/E -0.13
Volume 9.64K
Outstanding Shares 4.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $29.35M ▼ $16.365M ▲ $-16.39M ▲ -55.843% ▼ $-3.51 ▲ $-5.848M ▲
Q2-2025 $39.245M ▼ $16.14M ▼ $-16.861M ▼ -42.963% ▼ $-3.63 ▼ $-6.156M ▼
Q1-2025 $40.534M ▲ $17.863M ▲ $-14.385M ▲ -35.489% ▲ $-3.12 ▲ $-3.617M ▲
Q4-2024 $37.314M ▼ $16.958M ▼ $-17.513M ▼ -46.934% ▼ $-3.8 ▼ $-6.558M ▼
Q3-2024 $44.009M $17.556M $-13.146M -29.871% $-2.86 $-1.293M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $10.652M ▼ $369.682M ▼ $191.4M ▼ $178.282M ▼
Q2-2025 $10.991M ▼ $389.875M ▼ $194.866M ▼ $195.009M ▼
Q1-2025 $13.728M ▼ $410.557M ▼ $200.612M ▼ $209.945M ▼
Q4-2024 $26.111M ▲ $426.104M ▼ $202.382M ▼ $223.722M ▼
Q3-2024 $24.404M $445.941M $202.959M $242.982M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-16.39M ▲ $-36.999K ▼ $-107K ▲ $-121K ▲ $-339K ▲ $-207K ▼
Q2-2025 $-16.861M ▼ $1.716M ▲ $-253K ▼ $-4.708M ▼ $-2.737M ▲ $1.435M ▲
Q1-2025 $-14.385M ▲ $-11.763M ▼ $-248K ▼ $-413K ▲ $-12.383M ▼ $-12.007M ▼
Q4-2024 $-17.513M ▼ $2.656M ▲ $208K ▲ $-489K ▲ $1.707M ▲ $2.386M ▲
Q3-2024 $-13.146M $-4.467M $-819K $-711K $-5.91M $-5.279M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Shipping and Handling
Shipping and Handling
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Income statement: Hydrofarm’s revenue has trended down meaningfully from its peak a few years ago, reflecting a tougher demand environment after an earlier boom period. The company is still generating a positive gross profit, but the cushion between sales and direct costs has become much thinner, leaving less room to cover overhead. Operating results have swung from a brief period of profitability to several years of losses, and earnings per share have been deeply negative, which also led to a reverse stock split. Overall, the income statement shows a business under pressure, working to resize itself to a smaller, more competitive market.

Balance Sheet

Balance Sheet Balance sheet: The balance sheet has shrunk over time, with total assets and shareholder equity both moving down from prior highs. Debt has stayed relatively steady in absolute terms, which means leverage has effectively risen as equity has eroded. Cash on hand is modest, providing only a limited financial cushion. The company still has positive equity, but its margin for error is narrower than it used to be, so ongoing losses or unexpected shocks could matter more now than in earlier years.

Cash Flow

Cash Flow Cash flow: Operating cash flow has recently hovered around breakeven to slightly positive, a noticeable improvement from earlier years when the business was consuming cash. Free cash flow has been marginally positive in recent periods, helped by very low capital spending. This suggests that restructuring, cost controls, and reduced inventory needs are helping stabilize cash, even though the underlying business is not yet robustly cash-generative. The flip side is that limited investment may also constrain growth and innovation if maintained for too long.

Competitive Edge

Competitive Edge Competitive position: Hydrofarm holds a recognizable position in controlled environment agriculture, acting as a one-stop supplier of lighting, nutrients, climate control, and related equipment. Its broad catalog, portfolio of proprietary and preferred brands, and multi-country distribution network give it real scale advantages and make it an important partner for many growers and retailers. Exclusive distribution deals and brand loyalty in key product lines support its standing. However, the company operates in a cyclical, highly competitive market that has recently suffered from oversupply and weaker demand, especially tied to cannabis cultivation. This environment compresses margins and makes it harder to fully leverage its distribution and brand strengths.

Innovation and R&D

Innovation and R&D Innovation & R&D: Hydrofarm’s innovation is practical and product-focused rather than centered on a single breakthrough technology. Its PHOTOBIO LED lighting, organic nutrient and media brands, and climate control offerings show ongoing technical refinement and specialization for growers’ needs. The company holds a meaningful set of patents and trademarks, and its ownership of well-regarded nutrient and media brands adds to its intangible value. Planned work on e-commerce, smart grow-room partnerships, and international expansion indicates a pipeline of incremental innovation. The main constraint is financial: with slim margins and tight cash, the company must balance the need to invest in new products and digital capabilities against the need to protect its balance sheet.

Summary

Summary: Hydrofarm is a niche industrial player with clear strengths in distribution, brand portfolio, and practical innovation for controlled environment agriculture, but its financial profile shows the scars of a sharp downcycle. Revenue has fallen from earlier highs, profitability has turned negative, and equity has been worn down, though recent cash flow trends are more stable than the income statement alone suggests. The company’s strategy of focusing on higher-margin proprietary brands, cost restructuring, and partnerships in lighting and automation aligns with its competitive advantages. The key questions going forward are whether industry conditions stabilize, whether Hydrofarm can restore healthier margins without overextending its balance sheet, and whether it can keep investing enough in product development and market expansion to maintain its position in a crowded, evolving market.

NEWS

November 12, 2025 · 7:30 AM UTC

Hydrofarm Holdings Group Announces Third Quarter 2025 Results

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November 6, 2025 · 9:00 AM UTC

Hydrofarm Holdings Group, Inc. to Announce Third Quarter 2025 Results on November 12, 2025

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October 2, 2025 · 8:00 AM UTC

Hydrofarm Announces Changes to its Board of Directors

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