Hydrofarm defaults on Term Loan interest; Q4 net loss $242.2M includes $232.2M impairment

HYDROFARM HOLDINGS GROUP, INC.

Q4 net sales fell 32.7% to $25.1M from $37.3M; volume/mix down 27.3%.
Net loss of $242.2M ($51.89 diluted loss) includes $232.2M non-cash impairment of intangible assets.
Adjusted EBITDA improved to -$4.9M from -$7.3M; Adjusted Gross Margin rose to 15.4% from 9.6%.
Company deferred ~$2.8M interest payment on Term Loan on Feb 4, 2026; event of default declared.
Term loan reclassified to current; Revolving Credit Facility terminated Feb 17, 2026; exploring strategic alternatives.

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