Hydrofarm Holdings Group, Inc. Financials
This page shows Hydrofarm Holdings Group, Inc. (HYFM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Hydrofarm Holdings Group, Inc. has an operating margin of -206.3%, meaning the company retains $-206 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -27.4% the prior year.
Hydrofarm Holdings Group, Inc.'s revenue declined 29.4% year-over-year, from $190.3M to $134.3M. This contraction results in a growth score of 0/100.
Hydrofarm Holdings Group, Inc.'s current ratio of 0.37 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 1/100, which could limit financial flexibility.
While Hydrofarm Holdings Group, Inc. generated -$14.1M in operating cash flow, capex of $1.0M consumed most of it, leaving -$15.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Hydrofarm Holdings Group, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Hydrofarm Holdings Group, Inc. generates $0.05 in operating cash flow (-$14.1M OCF vs -$289.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Hydrofarm Holdings Group, Inc. earns $-21.9 in operating income for every $1 of interest expense (-$276.9M vs $12.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Hydrofarm Holdings Group, Inc. generated $134.3M in revenue in fiscal year 2025. This represents a decrease of 29.4% from the prior year.
Hydrofarm Holdings Group, Inc.'s EBITDA was -$253.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1080.9% from the prior year.
Hydrofarm Holdings Group, Inc. reported -$289.8M in net income in fiscal year 2025. This represents a decrease of 334.4% from the prior year.
Hydrofarm Holdings Group, Inc. earned $-62.35 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 329.7% from the prior year.
Cash & Balance Sheet
Hydrofarm Holdings Group, Inc. generated -$15.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 369.0% from the prior year.
Hydrofarm Holdings Group, Inc. held $6.3M in cash against $50K in long-term debt as of fiscal year 2025.
Hydrofarm Holdings Group, Inc. had 5M shares outstanding in fiscal year 2025. This represents an increase of 3.3% from the prior year.
Margins & Returns
Hydrofarm Holdings Group, Inc.'s gross margin was 11.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.6 percentage points from the prior year.
Hydrofarm Holdings Group, Inc.'s operating margin was -206.3% in fiscal year 2025, reflecting core business profitability. This is down 178.8 percentage points from the prior year.
Hydrofarm Holdings Group, Inc.'s net profit margin was -215.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 180.8 percentage points from the prior year.
Capital Allocation
Hydrofarm Holdings Group, Inc. invested $1.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 64.6% from the prior year.
HYFM Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $29.4M-25.2% | $39.2M-3.2% | $40.5M+8.6% | $37.3M-15.2% | $44.0M-19.7% | $54.8M+1.1% | $54.2M+14.8% | $47.2M |
| Cost of Revenue | $25.9M-28.8% | $36.5M+8.3% | $33.7M-5.1% | $35.5M0.0% | $35.5M-19.2% | $43.9M+1.6% | $43.2M+11.6% | $38.7M |
| Gross Profit | $3.4M+22.0% | $2.8M-59.4% | $6.9M+274.2% | $1.8M-78.4% | $8.5M-21.5% | $10.9M-0.7% | $10.9M+29.3% | $8.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $16.4M+1.4% | $16.1M-9.6% | $17.9M+5.3% | $17.0M-3.4% | $17.6M-5.9% | $18.7M-4.9% | $19.6M-1.3% | $19.9M |
| Operating Income | -$13.0M+2.9% | -$13.3M-21.5% | -$11.0M+27.3% | -$15.1M-67.3% | -$9.0M+53.2% | -$19.3M-122.3% | -$8.7M+23.9% | -$11.4M |
| Interest Expense | $3.3M-1.8% | $3.4M+0.4% | $3.4M-5.8% | $3.6M-8.3% | $3.9M+2.6% | $3.8M-3.1% | $3.9M-2.2% | $4.0M |
| Income Tax | $125K+227.6% | -$98K-219.5% | $82K+1950.0% | $4K-98.6% | $279K-28.5% | $390K+99.0% | $196K+249.6% | -$131K |
| Net Income | -$16.4M+2.8% | -$16.9M-17.2% | -$14.4M+17.9% | -$17.5M-33.2% | -$13.1M+43.9% | -$23.4M-86.0% | -$12.6M+17.1% | -$15.2M |
| EPS (Diluted) | $-3.51+3.3% | $-3.63-16.3% | $-3.12 | N/A | $-2.86+43.9% | $-5.10-85.5% | $-2.75 | N/A |
HYFM Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $369.7M-5.2% | $389.9M-5.0% | $410.6M-3.6% | $426.1M-4.4% | $445.9M-3.8% | $463.4M-6.2% | $494.0M-2.7% | $507.6M |
| Current Assets | $62.6M-14.3% | $73.0M-17.6% | $88.7M-6.9% | $95.2M-7.9% | $103.4M-7.4% | $111.7M-9.9% | $124.0M-3.2% | $128.1M |
| Cash & Equivalents | $10.7M-3.1% | $11.0M-19.9% | $13.7M-47.4% | $26.1M+7.0% | $24.4M-19.5% | $30.3M+25.5% | $24.2M-20.3% | $30.3M |
| Inventory | $38.3M-13.2% | $44.2M-11.5% | $49.9M-1.4% | $50.6M-13.0% | $58.2M-0.8% | $58.7M-18.8% | $72.3M-4.0% | $75.4M |
| Accounts Receivable | $10.0M-30.0% | $14.3M-31.6% | $20.9M+41.8% | $14.8M-6.3% | $15.8M-15.1% | $18.6M-17.4% | $22.5M+33.0% | $16.9M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $191.4M-1.8% | $194.9M-2.9% | $200.6M-0.9% | $202.4M-0.3% | $203.0M-2.6% | $208.3M-3.5% | $216.0M-0.5% | $217.0M |
| Current Liabilities | $30.1M-4.2% | $31.5M-21.2% | $39.9M+14.2% | $35.0M+9.5% | $31.9M-10.0% | $35.5M-9.8% | $39.3M+4.4% | $37.7M |
| Long-Term Debt | $111.7M+0.2% | $111.6M+1.4% | $110.0M-4.1% | $114.7M-0.1% | $114.8M-0.1% | $114.9M-0.4% | $115.4M0.0% | $115.4M |
| Total Equity | $178.3M-8.6% | $195.0M-7.1% | $209.9M-6.2% | $223.7M-7.9% | $243.0M-4.7% | $255.0M-8.3% | $278.0M-4.3% | $290.6M |
| Retained Earnings | -$605.1M-2.8% | -$588.7M-2.9% | -$571.8M-2.6% | -$557.5M-3.2% | -$539.9M-2.5% | -$526.8M-4.7% | -$503.4M-2.6% | -$490.7M |
HYFM Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$37K-102.2% | $1.7M+114.6% | -$11.8M-542.9% | $2.7M+159.5% | -$4.5M-218.0% | $3.8M+264.7% | -$2.3M-44.9% | -$1.6M |
| Capital Expenditures | $170K-39.5% | $281K+15.2% | $244K-9.6% | $270K-66.7% | $812K+120.7% | $368K-74.5% | $1.4M+806.9% | $159K |
| Free Cash Flow | -$207K-114.4% | $1.4M+112.0% | -$12.0M-603.2% | $2.4M+145.2% | -$5.3M-254.5% | $3.4M+191.4% | -$3.7M-114.4% | -$1.7M |
| Investing Cash Flow | -$107K+57.7% | -$253K-2.0% | -$248K-219.2% | $208K+125.4% | -$819K-122.2% | $3.7M+361.9% | -$1.4M-1157.1% | -$112K |
| Financing Cash Flow | -$121K+97.4% | -$4.7M-1040.0% | -$413K+15.5% | -$489K+31.2% | -$711K+41.6% | -$1.2M+48.3% | -$2.4M-307.3% | -$579K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HYFM Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.6%+4.5pp | 7.1%-9.8pp | 17.0%+12.0pp | 4.9%-14.4pp | 19.4%-0.4pp | 19.8%-0.4pp | 20.2%+2.3pp | 17.9% |
| Operating Margin | -44.1%-10.1pp | -34.0%-6.9pp | -27.1%+13.4pp | -40.5%-20.0pp | -20.5%+14.7pp | -35.3%-19.2pp | -16.1%+8.2pp | -24.2% |
| Net Margin | -55.8%-12.9pp | -43.0%-7.5pp | -35.5%+11.4pp | -46.9%-17.1pp | -29.9%+12.9pp | -42.8%-19.5pp | -23.3%+9.0pp | -32.3% |
| Return on Equity | -9.2%-0.5pp | -8.6%-1.8pp | -6.9%+1.0pp | -7.8%-2.4pp | -5.4%+3.8pp | -9.2%-4.7pp | -4.5%+0.7pp | -5.2% |
| Return on Assets | -4.4%-0.1pp | -4.3%-0.8pp | -3.5%+0.6pp | -4.1%-1.2pp | -2.9%+2.1pp | -5.1%-2.5pp | -2.5%+0.5pp | -3.0% |
| Current Ratio | 2.08-0.2 | 2.32+0.1 | 2.22-0.5 | 2.72-0.5 | 3.24+0.1 | 3.150.0 | 3.15-0.2 | 3.40 |
| Debt-to-Equity | 0.63+0.1 | 0.57+0.0 | 0.52+0.0 | 0.51+0.0 | 0.47+0.0 | 0.45+0.0 | 0.41+0.0 | 0.40 |
| FCF Margin | -0.7%-4.4pp | 3.7%+33.3pp | -29.6%-36.0pp | 6.4%+18.4pp | -12.0%-18.2pp | 6.2%+13.1pp | -6.9%-3.2pp | -3.7% |
Note: Shareholder equity is negative (-$63.3M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.37), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Hydrofarm Holdings Group, Inc.'s annual revenue?
Hydrofarm Holdings Group, Inc. (HYFM) reported $134.3M in total revenue for fiscal year 2025. This represents a -29.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Hydrofarm Holdings Group, Inc.'s revenue growing?
Hydrofarm Holdings Group, Inc. (HYFM) revenue declined by 29.4% year-over-year, from $190.3M to $134.3M in fiscal year 2025.
Is Hydrofarm Holdings Group, Inc. profitable?
No, Hydrofarm Holdings Group, Inc. (HYFM) reported a net income of -$289.8M in fiscal year 2025, with a net profit margin of -215.9%.
What is Hydrofarm Holdings Group, Inc.'s EBITDA?
Hydrofarm Holdings Group, Inc. (HYFM) had EBITDA of -$253.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Hydrofarm Holdings Group, Inc. have?
As of fiscal year 2025, Hydrofarm Holdings Group, Inc. (HYFM) had $6.3M in cash and equivalents against $50K in long-term debt.
What is Hydrofarm Holdings Group, Inc.'s gross margin?
Hydrofarm Holdings Group, Inc. (HYFM) had a gross margin of 11.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hydrofarm Holdings Group, Inc.'s operating margin?
Hydrofarm Holdings Group, Inc. (HYFM) had an operating margin of -206.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Hydrofarm Holdings Group, Inc.'s net profit margin?
Hydrofarm Holdings Group, Inc. (HYFM) had a net profit margin of -215.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Hydrofarm Holdings Group, Inc.'s free cash flow?
Hydrofarm Holdings Group, Inc. (HYFM) generated -$15.1M in free cash flow during fiscal year 2025. This represents a -369.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Hydrofarm Holdings Group, Inc.'s operating cash flow?
Hydrofarm Holdings Group, Inc. (HYFM) generated -$14.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hydrofarm Holdings Group, Inc.'s total assets?
Hydrofarm Holdings Group, Inc. (HYFM) had $123.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hydrofarm Holdings Group, Inc.'s capital expenditures?
Hydrofarm Holdings Group, Inc. (HYFM) invested $1.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Hydrofarm Holdings Group, Inc.'s current ratio?
Hydrofarm Holdings Group, Inc. (HYFM) had a current ratio of 0.37 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Hydrofarm Holdings Group, Inc.'s debt-to-equity ratio?
Hydrofarm Holdings Group, Inc. (HYFM) had a debt-to-equity ratio of -0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hydrofarm Holdings Group, Inc.'s return on assets (ROA)?
Hydrofarm Holdings Group, Inc. (HYFM) had a return on assets of -234.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hydrofarm Holdings Group, Inc.'s cash runway?
Based on fiscal year 2025 data, Hydrofarm Holdings Group, Inc. (HYFM) had $6.3M in cash against an annual operating cash burn of $14.1M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Hydrofarm Holdings Group, Inc.'s debt-to-equity ratio negative or unusual?
Hydrofarm Holdings Group, Inc. (HYFM) has negative shareholder equity of -$63.3M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Hydrofarm Holdings Group, Inc.'s Piotroski F-Score?
Hydrofarm Holdings Group, Inc. (HYFM) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Hydrofarm Holdings Group, Inc.'s earnings high quality?
Hydrofarm Holdings Group, Inc. (HYFM) has an earnings quality ratio of 0.05x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Hydrofarm Holdings Group, Inc. cover its interest payments?
Hydrofarm Holdings Group, Inc. (HYFM) has an interest coverage ratio of -21.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Hydrofarm Holdings Group, Inc.?
Hydrofarm Holdings Group, Inc. (HYFM) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.