HYDROFARM HOLDINGS GROUP INC
For the period ended Mar 31, 2024. Filed May 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
HYFM$0.72-6.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)
| Three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating activities | ||
| Net loss | $(12,608) | $(16,849) |
| Adjustments to reconcile net loss to net cash from operating activities: | ||
| Depreciation, depletion and amortization | 7,885 | 8,007 |
| Provision for (benefit from) doubtful accounts | 80 | (247) |
| Provision for inventory obsolescence | 568 | 704 |
| Restructuring expenses | 7 | 327 |
| Stock-based compensation expense | 853 | 1,182 |
| Non-cash operating lease expense | 2,244 | 2,948 |
| Other | (44) | 456 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (5,715) | (5,141) |
| Inventories | 2,156 | 7,321 |
| Prepaid expenses and other current assets | 442 | (699) |
| Other assets | 100 | (188) |
| Accounts payable | 2,892 | (346) |
| Accrued expenses and other current liabilities | 1,282 | (3,139) |
| Deferred revenue | (370) | (1,116) |
| Lease liabilities | (1,976) | (2,166) |
| Other long-term liabilities | (93) | (4) |
| Net cash used in operating activities | (2,297) | (8,950) |
| Investing activities | ||
| Capital expenditures of property, plant and equipment | (1,442) | (1,653) |
| Other | 34 | 51 |
| Net cash used in investing activities | (1,408) | (1,602) |
| Financing activities | ||
| Proceeds from Sale-Leaseback Transaction | — | 8,598 |
| Borrowings under foreign revolving credit facilities | 158 | 169 |
| Repayments of foreign revolving credit facilities | (190) | (116) |
| Repayments of Term Loan | (1,974) | (312) |
| Payment of withholding tax related to stock awards | (97) | (123) |
| Finance lease principal payments | (255) | (257) |
| Net cash (used in) from financing activities | (2,358) | 7,959 |
| Effect of exchange rate changes on cash and cash equivalents | (97) | 5 |
| Net decrease in cash and cash equivalents | (6,160) | (2,588) |
| Cash and cash equivalents cash at beginning of period | 30,312 | 21,291 |
| Cash and cash equivalents at end of period | $24,152 | $18,703 |
| Non-cash investing and financing activities | ||
| Right-of-use assets relinquished under operating lease obligations | $— | $(1,103) |
| Assets acquired under finance lease obligations | — | 185 |
| Capital expenditures included in accounts payable and accrued liabilities | 155 | $847 |
| Supplemental information | ||
| Cash paid for interest | 4,708 | 3,401 |
| Cash paid for income taxes | 5 | 180 |
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