Ancillary Cannabis Co. Hydrofarm Reports YoY Drop In Q1 Sales, Gross Profit While Narrowing Loss, Expects To Cash In On Marijuana Rescheduling
Portfolio Pulse from Jelena Martinovic
Hydrofarm Holdings Group, Inc. (HYFM) reported a year-over-year decrease in Q1 sales and gross profit but narrowed its net loss and saw an improvement in adjusted EBITDA. The company remains optimistic about future growth, citing operational productivity and a positive outlook on cannabis rescheduling in the U.S.
May 14, 2024 | 12:23 pm
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HYFM reported a decrease in Q1 sales and gross profit but improved net loss and adjusted EBITDA. The company is optimistic about growth due to operational efficiency and potential cannabis rescheduling.
Despite a decrease in sales and gross profit, HYFM's improved net loss and positive adjusted EBITDA signal operational efficiency and financial stabilization. The optimism surrounding cannabis rescheduling in the U.S. could further enhance HYFM's growth prospects, making it an attractive asset in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100