HYDROFARM HOLDINGS GROUP, INC.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Depreciation, depletion and amortization $7.0m $6.8m $14.9m $41.5m $32.1m $30.7m $23.1m
Impairments $5.4m $0 $0 $192.3m $0 $0 $232.2m
Non-cash operating lease expense $3.6m $3.5m $5.7m $9.8m $9.9m $8.2m $7.9m
Non-cash loss from asset disposition $0 $11.1m $0
Right-of-use assets acquired (relinquished) under operating lease obligation $0 $3.2m $22.9m $29.0m ($1.1m) ($1.9m) $2.2m
Net loss ($40.1m) ($7.3m) $13.4m ($285.4m) ($64.8m) ($66.7m) ($289.8m)
Provision for credit losses ($110k) $3.0m ($386k) $314k $838k
Provision for inventory obsolescence $1.2m $16.4m $1.6m $2.0m $1.4m
Restructuring expenses $0 $6.1m $806k $4.4m
Stock-based compensation expense $208k $8.9m $5.0m $8.4m $5.1m $2.4m $1.2m
Other $5.7m ($687k) ($1.3m) ($757k) $45k $0 $126k
Accounts receivable ($620k) ($6.3m) ($1.9m) $16.7m $766k $1.6m $5.7m
Inventories $2.7m ($36.9m) ($46.8m) $57.0m $26.1m $14.4m $12.1m
Prepaid expenses and other current assets ($9k) ($7.7m) $2.8m $3.7m ($49k) $1.6m $120k
Other assets $494k $24k ($1.8m) $262k ($172k) ($55k) ($90k)
Accounts payable ($1.2m) $4.8m ($7.2m) ($12.0m) ($1.1m) $56k ($2.7m)
Accrued expenses and other current liabilities $2.4m $5.9m ($3.2m) ($4.5m) ($3.5m) $1.6m ($3.0m)
Deferred revenue $5.1m ($13.3m) ($439k) ($601k) $117k
Lease liabilities ($3.3m) ($3.1m) ($4.7m) ($7.8m) ($9.2m) ($8.9m) ($7.8m)
Other long-term liabilities $123k ($493k) $0 ($370k) ($55k) $11k $59k
Payment of withholding tax related to stock awards $0 $0 ($20.0m) ($2.5m) ($271k) ($142k) ($46k)
Borrowings under foreign revolving credit facilities $256.9m $306.0m $142.6m $853k $965k $378k $351k
Repayments of foreign revolving credit facilities ($143.0m) ($1.1m) ($970k) ($453k) ($371k)
Repayments of Term Loan ($256.8m) ($404.0m) ($143.0m) ($1.2m) ($1.2m) ($3.2m) ($4.9m)
Finance lease principal payments ($1.0m) ($1.4m) ($463k)
Capital expenditures included in accounts payable and accrued liabilities $611k $200k $76k $31k
Additions of leasehold improvements and related asset retirement obligations $987k $349k $0 $68k
Net cash used in operating activities ($13.3m) ($44.8m) ($45.1m) $22.0m $7.0m ($324k) ($14.1m)
Capital expenditures of property, plant and equipment ($768k) ($1.4m) ($5.4m) ($8.2m) ($4.2m) ($2.9m) ($1.0m)
Proceeds from sale of property, plant and equipment $96k $861k $183k
Cash proceeds from IGE Asset Sale for property, plant and equipment $0 $3.7m $0
Net cash (used in) from investing activities ($3.8m) $546k ($468.2m) ($8.5m) ($4.2m) $1.7m ($841k)
Net cash used in financing activities $19.9m $88.1m $464.7m ($20.2m) $6.1m ($4.8m) ($5.4m)
Effect of exchange rate changes on cash and cash equivalents $2.2m $232k ($27k) ($395k) $82k ($770k) $536k
Net decrease in cash and cash equivalents $4.9m $44.1m ($48.6m) ($7.1m) $9.0m ($4.2m) ($19.8m)
Cash and cash equivalents cash at beginning of year $32.9m $77.0m $28.4m $21.3m $30.3m $26.1m $6.3m
Cash paid for interest $5.5m $23.1m $1.6m $9.6m $13.1m $13.3m $12.7m
Cash paid for income taxes $63k $94k $2.0m $3.9m ($1.0m) $201k $44k