---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-017226"
form_type: "8-K"
ticker: "HYFM"
cik: "0001695295"
company_name: "HYDROFARM HOLDINGS GROUP, INC."
filed_at: "2023-05-10T23:59:59+00:00"
generated_at: "2026-06-15T06:36:21.922275+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hydrofarm Q1 sales drop 44% to $62.2M; Adjusted EBITDA turns negative at $(2.1)M

## Summary
- Net loss narrowed to $(16.8)M ($(0.37)/diluted share) from $(23.3)M ($(0.52)) a year ago.
- Adjusted gross profit margin improved to 22.6% from 20.0% on better brand mix and productivity.
- Reaffirmed FY 2023 outlook: net sales $290-310M (now expects low end), modestly positive Adj. EBITDA, positive free cash flow.
- Restructuring: completed Canadian nutrient plant consolidation, China office closure, Western Canada DC relocation.
- Amended revolver to $55M capacity, extended maturity to June 2026; completed $8.6M sale-leaseback in Oregon.

## SEC filing metadata
- accession: 0001628280-23-017226
- form_type: 8-K
- ticker: HYFM
- cik: 0001695295
- company_name: HYDROFARM HOLDINGS GROUP, INC.
- filed_at: 2023-05-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1695295/000162828023017226/0001628280-23-017226-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1695295/000162828023017226/hyfm-20230510.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-017226
- JSON: https://secwatch.observer/filing/0001628280-23-017226.json
- Plain text: https://secwatch.observer/filing/0001628280-23-017226.txt

## Key facts
- Earnings Releases
  HYDROFARM HOLDINGS GROUP, INC. reported first quarter ended March 31, 2023 results: revenue $62.2 million, net income $(16.8) million, EPS $(0.37) per diluted share. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2023
  - Revenue: $62.2 million
  - Net income: $(16.8) million
  - EPS: $(0.37) per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: agriculture, today announced financial results for its first quarter ended March 31, 2023. First Quarter 2023 Highlights vs. Prior Year Period: • Net sales decreased to $62.2 million compared to $111.4 million. • Gross Profit decreased to $11.4 million compared to $16.6 million. Adjusted Gross Profit (1) was $14.1 million compared to $22.3 million. • Gross
  evidence_url: https://www.sec.gov/Archives/edgar/data/1695295/000162828023017226/0001628280-23-017226-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.