Growlife Inc Financials

PHOT

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2023 Currency USD FYE December

This page shows Growlife Inc (PHOT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).

Rhea AI PHOT FY2022 2026-04-22

External financing, not operations, kept the business functioning as assets and liquidity shrank faster than liabilities into FY2022.

In FY2020 and FY2021, operating cash burn was -$2.0M and -$1.6M, so the business still consumed cash even as reported operating losses narrowed. By FY2022, total assets had fallen to $254K while liabilities remained $8.7M, indicating earlier financing was largely covering ongoing survival needs rather than rebuilding financial capacity.

Over the next two years, shares outstanding rose from 28.7M to 110.6M. Cash still slipped from $41K to $6K, which means fresh equity did not create a reserve; it mainly offset operating demands and other claims on cash.

Operating loss narrowed from -$5.0M in FY2019 to -$1.4M in FY2021 even though revenue was lower, so the improvement looks more like cost contraction than scale-driven efficiency. But FY2022's current ratio of 0.03x shows that trimming expenses did not resolve the immediate balance-sheet squeeze.

Financial Health Signals

Financial Profile 0/100

Based on FY2022 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Growlife Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Liquidity

Growlife Inc's current ratio of 0.03 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

N/A

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$94K

YoY+1401.3%

5Y CAGR+6.4%

Growlife Inc held $94K in cash against $0 in long-term debt as of fiscal year 2022.

Dividends Per Share

N/A

Shares Outstanding

Growlife Inc had 4M shares outstanding in fiscal year 2022. This represents a decrease of 96.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

PHOT Income Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Revenue	N/A	$6.2M-11.5%	$7.0M-14.8%	$8.2M+79.7%	$4.6M+86.5%	$2.5M
Cost of Revenue	$0	$0-100.0%	$4.0M-29.1%	$5.7M+38.1%	$4.1M+88.3%	$2.2M
Gross Profit	$0	$0-100.0%	$3.0M+16.9%	$2.5M+444.3%	$468K+72.5%	$272K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$1.4M-70.9%	$4.9M-30.5%	$7.0M+39.7%	$5.0M+116.2%	$2.3M
Operating Income	N/A	-$1.4M+26.8%	-$1.9M+62.3%	-$5.0M-10.3%	-$4.5M-122.0%	-$2.0M
Interest Expense	N/A	$3.2M+197.6%	$1.1M+190.5%	-$1.2M-385.6%	$422K+107.0%	$204K
Income Tax	N/A	$23K-90.3%	$232K+297.3%	-$118K	$0	$0
Net Income	N/A	-$5.5M+14.2%	-$6.4M+12.4%	-$7.3M+36.3%	-$11.4M-115.1%	-$5.3M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21
Revenue	$147K+86.0%	$79K	N/A	$226K-28.3%	$315K	$0-100.0%	$1.1M-8.8%	$1.2M
Cost of Revenue	$44K+6.7%	$41K	N/A	$150K-8.5%	$164K	$0+100.0%	-$2.5M-404.2%	$816K
Gross Profit	$104K+170.9%	$38K	N/A	$76K-49.7%	$151K	$0-100.0%	$3.6M+766.0%	$416K
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	$141K+108.6%	-$1.6M-277.9%	$925K
Operating Income	-$575K+5.7%	-$610K	N/A	-$616K-69.9%	-$363K-40.8%	-$258K+71.8%	-$914K-79.7%	-$508K
Interest Expense	N/A	$628K	N/A	$270K-52.6%	$571K+319.3%	$136K-90.9%	$1.5M+241.5%	$436K
Income Tax	N/A	N/A	N/A	$78K+170.3%	-$111K-417.1%	$35K+141.6%	-$84K-386.1%	$29K
Net Income	N/A	-$1.0M	N/A	-$826K+51.0%	-$1.7M-176.5%	-$609K+43.5%	-$1.1M-76.6%	-$610K
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PHOT Balance Sheet

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Total Assets	$254K-93.8%	$4.1M-5.7%	$4.4M+7.5%	$4.1M-43.9%	$7.2M+737.5%	$862K
Current Assets	$254K-88.5%	$2.2M+14.3%	$1.9M+153.6%	$762K-76.4%	$3.2M+476.7%	$559K
Cash & Equivalents	$94K+1401.3%	$6K-98.4%	$383K+838.3%	$41K-98.3%	$2.3M+3273.8%	$69K
Inventory	N/A	$1.3M+127.8%	$571K-5.0%	$601K-24.2%	$793K+70.2%	$466K
Accounts Receivable	N/A	$367K-61.8%	$961K+843.5%	$102K+140.9%	$42K	$0
Goodwill	N/A	$782K0.0%	$782K0.0%	$782K0.0%	$782K	N/A
Total Liabilities	$8.7M-13.7%	$10.0M-12.9%	$11.5M+32.8%	$8.7M-0.4%	$8.7M+30.6%	$6.7M
Current Liabilities	$8.7M-10.7%	$9.7M-6.9%	$10.4M+51.0%	$6.9M+1.7%	$6.8M+1.6%	$6.7M
Long-Term Debt	N/A	N/A	$925K	N/A	N/A	N/A
Total Equity	-$8.4M-41.7%	-$5.9M+17.3%	-$7.2M-54.8%	-$4.6M-208.7%	-$1.5M+74.2%	-$5.8M
Retained Earnings	-$164.8M-2.8%	-$160.3M-3.5%	-$154.8M-4.3%	-$148.5M-5.2%	-$141.2M-8.8%	-$129.7M

Metric	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21
Total Assets	$201K-78.6%	$936K+268.1%	$254K-90.6%	$2.7M-17.5%	$3.3M-7.7%	$3.6M-13.4%	$4.1M-9.3%	$4.5M
Current Assets	$41K-81.5%	$220K-13.5%	$254K-80.2%	$1.3M-23.2%	$1.7M-3.4%	$1.7M-21.7%	$2.2M-19.8%	$2.8M
Cash & Equivalents	$5K-95.4%	$118K+24.8%	$94K+133.3%	$40K-85.5%	$278K-38.1%	$449K+7049.4%	$6K-99.5%	$1.2M
Inventory	$21K-9.0%	$23K	N/A	$1.1M-10.2%	$1.2M+0.7%	$1.2M-5.9%	$1.3M+0.1%	$1.3M
Accounts Receivable	$2K	N/A	N/A	$21K-64.4%	$59K+50.3%	$39K-89.3%	$367K+542.1%	$57K
Goodwill	N/A	N/A	N/A	$782K0.0%	$782K0.0%	$782K0.0%	$782K0.0%	$782K
Total Liabilities	$11.6M+26.1%	$9.2M+5.8%	$8.7M-13.7%	$10.0M-4.3%	$10.5M+11.5%	$9.4M-6.3%	$10.0M-1.4%	$10.2M
Current Liabilities	$11.6M+26.1%	$9.2M+5.8%	$8.7M-13.1%	$10.0M-3.6%	$10.4M+13.0%	$9.2M-5.6%	$9.7M+2.3%	$9.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$11.4M-38.0%	-$8.2M+2.1%	-$8.4M-14.8%	-$7.3M-1.7%	-$7.2M-23.2%	-$5.8M+1.4%	-$5.9M-4.9%	-$5.7M
Retained Earnings	-$169.2M-2.0%	-$165.8M-0.6%	-$164.8M+100.0%	-$165.8T-101972154.0%	-$162.6M-1.0%	-$160.9M-0.4%	-$160.3M-0.7%	-$159.2M

PHOT Cash Flow Statement

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Operating Cash Flow	N/A	-$1.6M+19.9%	-$2.0M+33.0%	-$2.9M-175.5%	$3.9M+285.1%	-$2.1M
Capital Expenditures	N/A	$20K	$0	N/A	N/A	N/A
Free Cash Flow	N/A	-$1.6M+18.9%	-$2.0M	N/A	N/A	N/A
Investing Cash Flow	-$171K-756.0%	-$20K	$0+100.0%	-$12K+97.7%	-$544K-79.9%	-$303K
Financing Cash Flow	N/A	$1.5M-34.8%	$2.3M+264.7%	$629K-90.6%	$6.7M+183.4%	$2.4M
Dividends Paid	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

Metric	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21
Operating Cash Flow	-$306K+28.4%	-$428K-8757.5%	-$5K+98.2%	-$262K+67.7%	-$812K-243.4%	-$237K+82.1%	-$1.3M-512.5%	-$216K
Capital Expenditures	N/A	$4K	N/A	$0-100.0%	$17K	$0-100.0%	$20K	$0
Free Cash Flow	N/A	-$432K	N/A	-$262K+68.4%	-$829K-250.4%	-$237K+82.4%	-$1.3M-521.7%	-$216K
Investing Cash Flow	$0+100.0%	-$4K+97.4%	-$155K	$0+100.0%	-$17K	$0+100.0%	-$20K	$0
Financing Cash Flow	$194K-57.4%	$455K-20.3%	$571K+2198.7%	$25K-96.6%	$722K+181.1%	$257K-38.6%	$418K+104.9%	$204K
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

PHOT Financial Ratios

Metric	FY22	FY21	FY20	FY19	FY18	FY17
Gross Margin	N/A	0.0%-42.6pp	42.6%+11.6pp	31.0%+20.8pp	10.2%-0.8pp	11.1%
Operating Margin	N/A	-22.3%+4.7pp	-27.0%+34.1pp	-61.1%+38.4pp	-99.5%-15.9pp	-83.6%
Net Margin	N/A	-88.3%+2.8pp	-91.1%-2.5pp	-88.7%+161.6pp	-250.2%-33.2pp	-217.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-133.2%+13.3pp	-146.5%+33.4pp	-179.9%-21.3pp	-158.6%+458.8pp	-617.4%
Current Ratio	0.03-0.2	0.23+0.0	0.19+0.1	0.11-0.4	0.48+0.4	0.08
Debt-to-Equity	-1.03+0.7	-1.69-1.6	-0.13+1.7	-1.87+3.9	-5.81-4.7	-1.15
FCF Margin	N/A	-25.5%+2.3pp	-27.9%	N/A	N/A	N/A

Metric	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22	Q1'22	Q4'21	Q3'21
Gross Margin	70.3%+22.1pp	48.3%	N/A	33.6%-14.3pp	48.0%	N/A	320.7%+286.9pp	33.8%
Operating Margin	-390.2%+379.5pp	-769.7%	N/A	-272.8%-157.6pp	-115.2%	N/A	-81.3%-40.0pp	-41.3%
Net Margin	N/A	-1283.2%	N/A	-365.5%+169.2pp	-534.7%	N/A	-95.8%-46.3pp	-49.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	-108.7%	N/A	-30.5%+20.8pp	-51.3%-34.2pp	-17.1%+9.1pp	-26.2%-12.8pp	-13.5%
Current Ratio	0.00-0.0	0.020.0	0.03-0.1	0.13-0.0	0.16-0.0	0.19-0.0	0.23-0.1	0.29
Debt-to-Equity	-1.02+0.1	-1.11-0.1	-1.03+0.3	-1.37+0.1	-1.46+0.2	-1.61+0.1	-1.69+0.1	-1.80
FCF Margin	N/A	-544.6%	N/A	-116.0%+147.2pp	-263.2%	N/A	-119.5%-102.0pp	-17.5%

Note: Shareholder equity is negative (-$8.4M), 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 (0.03), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

TX Rail Products TXRP

$10.8M

Russel Metal Ord RUSMF

$2.3B

Spectaire Holdings SPEC

$3.0M

Tritium Dcfc DCFCQ

$10K

Asia Propert ASPZ

$25.9M

Frequently Asked Questions

What are Growlife Inc's total assets?

Growlife Inc (PHOT) had $254K in total assets as of fiscal year 2022, including both current and long-term assets.

How many shares does Growlife Inc have outstanding?

Growlife Inc (PHOT) had 4M shares outstanding as of fiscal year 2022.

What is Growlife Inc's current ratio?

Growlife Inc (PHOT) had a current ratio of 0.03 as of fiscal year 2022, which is below 1.0, which may suggest potential liquidity concerns.

What is Growlife Inc's debt-to-equity ratio?

Growlife Inc (PHOT) had a debt-to-equity ratio of -1.03 as of fiscal year 2022, measuring the company's financial leverage by comparing total debt to shareholder equity.

Why is Growlife Inc's debt-to-equity ratio negative or unusual?

Growlife Inc (PHOT) has negative shareholder equity of -$8.4M as of fiscal year 2022, 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.

How financially healthy is Growlife Inc?

Growlife Inc (PHOT) 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.