Hydrofarm Holdings Group, Inc. (HYFM) Income Statement
HYFM 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHYFM revenue and net income
Where HYFM's revenue goes
2025Each bar shows an amount and its share of revenue. HYFM kept −215.9% of revenue as net income.
HYFM profit margins
HYFM growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −29.4% | −27.0% | −17.1% | — |
| Gross profit | −93.2% | −58.0% | −49.1% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HYFM quarterly EPS vs estimates
Hydrofarm beat the analyst EPS estimate in 0 of the last 6 quarters. Next report: November 11, 2026.
HYFM income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $134.3M | $190.3M | $226.6M | $344.5M | $479.4M | $342.2M | $235.1M | $211.8M | $202.0M | $273.5M |
| Cost of revenue | $132.1M | $158.2M | $189.0M | $315.2M | $377.9M | $278.6M | $208.0M | $187.7M | $172.8M | $221.6M |
| Gross profit | $2.2M | $32.1M | $37.6M | $29.3M | $101.5M | $63.6M | $27.1M | $24.1M | $29.2M | $51.9M |
| Sales, general & admin | $59.9M | $72.8M | $87.3M | $118.6M | $103.9M | $58.5M | $43.8M | $42.2M | $11.5M | $14.5M |
| Total operating expenses | $41.7M | $84.3M | $87.3M | $310.9M | $104.2M | $59.4M | $53.8M | $43.3M | $117.0M | $34.5M |
| Operating income | −$39.5M | −$52.2M | −$49.7M | −$281.6M | −$2.7M | $4.3M | −$26.7M | −$25.3M | −$5.7M | $17.4M |
| Interest expense | $13.4M | $15.2M | $15.4M | $11.0M | $2.1M | $10.1M | $13.5M | $11.6M | $0 | — |
| Income before taxes | −$290.5M | −$65.8M | −$65.0M | −$291.9M | −$5.7M | −$6.7M | −$40.8M | −$35.9M | −$94.9M | $16.7M |
| Income taxes | −$740,000 | $869,000 | −$213,000 | −$6.4M | −$19.1M | $576,000 | −$691,000 | −$397,000 | $354,667 | $144,000 |
| Net income | −$289.8M | −$66.7M | −$64.8M | −$285.4M | $13.4M | −$7.3M | −$40.1M | −$32.9M | −$82.8M | $15.8M |
| EBITDA | −$254.0M | −$19.9M | −$17.5M | −$239.4M | $11.4M | $10.2M | −$20.3M | −$16.1M | −$1.7M | $18.6M |
| EPS (diluted) | −$61.89 | −$10.92 | −$4.17 | −$7.35 | $6.55 | −$1.52 | −$12.14 | −$16.45 | — | — |
| Gross margin | 1.6% | 16.9% | 16.6% | 8.5% | 21.2% | 18.6% | 11.5% | 11.4% | 14.5% | 19.0% |
| Operating margin | −29.4% | −27.4% | −21.9% | −81.7% | −0.6% | 1.3% | −11.4% | −12.0% | −2.8% | 6.4% |
| Net margin | −215.9% | −35.1% | −28.6% | −82.8% | 2.8% | −2.1% | −17.0% | −15.5% | −41.0% | 5.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.2M | $28.5M | $25.1M | $29.4M | $39.2M | $40.5M | $37.3M | $44.0M | $54.8M | $54.2M | $47.2M | $54.2M |
| Cost of revenue | $20.6M | $27.8M | $22.3M | $31.1M | $39.1M | $39.2M | $35.5M | $35.5M | $43.9M | $49.2M | $43.6M | $50.9M |
| Gross profit | $2.6M | $725,000 | $2.8M | −$1.8M | $183,999 | $1.3M | $1.8M | $8.5M | $10.9M | $4.9M | $3.6M | $3.3M |
| Sales, general & admin | $10.1M | $10.6M | $9.6M | $16.4M | $16.1M | $17.9M | $17.0M | $17.6M | $18.7M | $19.6M | $19.9M | $19.5M |
| Total operating expenses | $10.1M | $7.0M | $9.2M | $10.3M | $10.2M | $11.9M | $17.0M | $17.6M | $30.2M | $13.5M | $13.1M | $19.5M |
| Operating income | −$7.4M | −$6.2M | −$6.4M | −$12.1M | −$10.0M | −$10.6M | −$15.1M | −$9.0M | −$19.3M | −$8.6M | −$9.5M | −$16.2M |
| Interest expense | $3.5M | $5.9M | $3.3M | $3.3M | $3.4M | $3.4M | $3.6M | $3.9M | $3.8M | $3.9M | $4.0M | $4.0M |
| Income before taxes | −$10.9M | −$14.7M | −$243.0M | −$16.3M | −$17.0M | −$14.3M | −$17.5M | −$13.4M | −$23.1M | −$12.4M | −$15.3M | −$19.8M |
| Income taxes | −$225,000 | −$108,000 | −$849,000 | $125,000 | −$98,000 | $82,000 | $4,000 | −$279,000 | $390,000 | $196,000 | −$131,000 | $89,000 |
| Net income | −$10.6M | −$14.6M | −$242.2M | −$16.4M | −$16.9M | −$14.4M | −$17.5M | −$13.1M | −$23.4M | −$12.6M | −$15.2M | −$19.9M |
| EBITDA | −$6.4M | −$7.8M | −$238.6M | −$5.6M | −$6.2M | −$3.6M | −$6.6M | −$1.3M | −$11.5M | −$596,000 | −$3.4M | −$7.9M |
| EPS (diluted) | −$2.23 | −$3.07 | −$51.89 | −$3.51 | −$3.63 | −$2.86 | −$3.95 | −$2.21 | −$2.21 | −$2.55 | −$0.10 | −$0.69 |
| Gross margin | 11.3% | 2.5% | 11.2% | −6.0% | 0.5% | 3.2% | 4.9% | 19.4% | 19.8% | 9.1% | 7.5% | 6.1% |
| Operating margin | −32.0% | −21.9% | −25.6% | −41.1% | −25.5% | −26.2% | −40.5% | −20.5% | −35.3% | −15.8% | −20.2% | −30.0% |
| Net margin | −45.8% | −51.2% | −963.9% | −55.8% | −43.0% | −35.5% | −46.9% | −29.9% | −42.8% | −23.3% | −32.2% | −36.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HYFM's financial statements (latest annual report filed March 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HYFM financial results
In fiscal year 2025 (ended December 31, 2025), Hydrofarm reported revenue of $134.3 million, down 29.4% from the year before. It had a net loss of $289.8 million, a net profit margin of −215.9%. Diluted earnings per share came to −$61.89. Over five years revenue grew at an average rate of −17.1% a year.
See the HYFM stock overview for the latest quote and news, or the HYFM chart for price history and technical indicators.
HYFM income statement FAQ
What is Hydrofarm's annual revenue?
Hydrofarm reported total revenue of $134.3 million for fiscal year 2025, which ended on December 31, 2025. That was down 29.4% from $190.3 million the previous year.
Is Hydrofarm profitable?
No. Hydrofarm reported a net loss of $289.8 million in fiscal 2025, a net profit margin of −215.9%; its operating margin was −29.4%.
What is Hydrofarm's gross margin?
Hydrofarm's gross margin was 1.6% in fiscal 2025: for every $100 of revenue, Hydrofarm kept $2 after the direct cost of its products and services.
How fast is Hydrofarm growing?
Revenue grew −17.1% a year on average over the last five fiscal years, from $342.2 million to $134.3 million.
What are Hydrofarm's earnings per share?
Hydrofarm earned $-61.89 per diluted share in fiscal 2025, compared with $-10.92 a year earlier.
When will Hydrofarm report its next earnings?
Hydrofarm is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Hydrofarm's fiscal year end?
Hydrofarm's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 27, 2026.