Hydrofarm Holdings Reports Increased Net Loss In Q2 2024 Financial Results
Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM), which specializes in hydroponics equipment and supplies, reported $54.8 million in net revenue representing a 13.1% year-over-year decrease from $63.1 million.
“In the second quarter, we delivered positive Adjusted EBITDA for the fourth time in the last five quarters, illustrating the effectiveness of our restructuring plan and related cost savings efforts,” said Bill Toler, chairman and CEO.
Q2 2024 Financial Highlights
Gross profit: $10.9 million, compared to $14.5 million in the same quarter of 2023.
Net loss: $23.5 million, up from $12.9 million in the prior year’s period.
Adjusted …