Hydrofarm 2022 Net Sales Decline 28% To 344.5M, What About Profit?

Benzinga · 03/10 21:55

Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) net sales in 2022 decreased 28% to $344.5 million compared to $479.4 million in 2021. Q4 2022 Financial Highlights vs. Prior Year Period: Net sales decreased 44% to $61.5 million compared to $110.4 million. Gross loss was $473,000 compared to gross profit of $18.7 million. Net loss was $35.3 million compared to net loss of $11.0 million. Adjusted EBITDA was negative $8.4 million compared to $4.9 million in the prior year period; Fiscal Year 2022 Highlights vs. Prior Year: Gross profit decreased to $29.3 million compared to $101.5 million. Net loss decreased to $285.4 million compared to net income of $13.4 million. Adjusted EBITDA was negative $21.2 million compared to $47.1 million; As of December 31, 2022, the

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