HYDROFARM HOLDINGS GROUP INC
For the period ended Dec 31, 2024. Filed Mar 5, 2025.
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FY2024 · Filed Mar 5, 2025
HYFM$0.72-6.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Years ended December 31, | ||
|---|---|---|
| Operating activities | 2024 | 2023 |
| Net loss | $(66,717) | $(64,813) |
| Adjustments to reconcile net loss to net cash from operating activities: | ||
| Depreciation, depletion and amortization | 30,691 | 32,075 |
| Provision for (benefit from) doubtful accounts | 314 | (386) |
| Provision for inventory obsolescence | 2,002 | 1,587 |
| Non-cash restructuring expenses | 806 | 9,703 |
| Stock-based compensation expense | 2,385 | 5,075 |
| Non-cash operating lease expense | 8,248 | 9,942 |
| Non-cash loss from asset disposition | 11,103 | — |
| Other | 1,118 | 1,502 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 1,616 | 766 |
| Inventories | 14,415 | 26,112 |
| Prepaid expenses and other current assets | 1,568 | (49) |
| Other assets | (55) | (172) |
| Accounts payable | 56 | (1,105) |
| Accrued expenses and other current liabilities | 1,648 | (3,537) |
| Deferred revenue | (601) | (439) |
| Lease liabilities | (8,932) | (9,162) |
| Other long-term liabilities | 11 | (55) |
| Net cash (used in) from operating activities | (324) | 7,044 |
| Investing activities | ||
| Capital expenditures of property, plant and equipment | (2,892) | (4,215) |
| Proceeds from sale of property, plant and equipment | 861 | 96 |
| Proceeds from Asset Sale for property, plant and equipment | 3,700 | — |
| Other | — | (51) |
| Net cash from (used in) investing activities | 1,669 | (4,170) |
| Financing activities | ||
| Proceeds from Sale-Leaseback Transaction | — | 8,598 |
| Payment of withholding tax related to stock awards | (142) | (271) |
| Borrowings under foreign revolving credit facilities | 378 | 965 |
| Repayments of foreign revolving credit facilities | (453) | (970) |
| Repayments of Term Loan | (3,197) | (1,250) |
| Finance lease principal payments | (1,362) | (1,007) |
| Net cash (used in) from financing activities | (4,776) | 6,065 |
| Effect of exchange rate changes on cash and cash equivalents | (770) | 82 |
| Net (decrease) increase in cash and cash equivalents | (4,201) | 9,021 |
| Cash and cash equivalents at beginning of year | 30,312 | 21,291 |
| Cash and cash equivalents at end of year | $26,111 | $30,312 |
| Non-cash investing and financing activities | ||
| Right-of-use assets relinquished under operating lease obligation | $(1,924) | $(1,067) |
| Assets acquired under finance lease obligation | — | 185 |
| Capital expenditures included in accounts payable and accrued liabilities | 76 | 200 |
| Additions of leasehold improvements and related asset retirement obligations | — | 349 |
| Supplemental information | ||
| Cash paid for interest | 13,289 | 13,101 |
| Cash paid (refunds) for income taxes | 201 | (1,000) |
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