• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

AeroGrow Reports Q1 Financials - Revenue Up 14%

August 15, 2017

(Photo Credit - Chuck Feder

 

AeroGrow International, Inc. (OTC:AERO), the manufacturer and distributor of AeroGarden indoor gardening systems – filed a 10-Q with financial results for its first quarter which ended Friday, June 30th, 2017. 

 

Related: 5 Key Takeaways from Scotts Miracle-Gro's Financials
 

Key Takeaways from AERO's Q1 Financial Results:

 

  • AeroGrow recorded net revenue of $2.5 million.

  • This represents an increase of 14.2% or $307,000 over the same period from 2016.

  • Retail sales increased by 2.8% to $974,000 during AERO's seasonal low point of the year for in-store and on-line sales. 

  • Direct-to-consumer sales increased 24.8%, to $1.4 million, reflecting a larger installed base of AeroGarden users as well as improved marketing efficacy.

  • Sales of AeroGarden units increased by 22.7% and seed pod kit and accessory sales increased by 6% over the same period in 2016.

  • Gross margin was down from 39.1% to 33.4%.

  • AeroGrow's loss from operations was $728K, compared to $653K in the same period last year.

  • The increase in loss from operations came in a bit higher than last year as AeroGrow increased advertising-related expenditures, improved infrastructure and added personnel expense in anticipation of growth.

  • Operating expenses were up 3.6% or 54,000 year-over-year.

  • AeroGrow's cash position remained strong with over $8.2 million cash on hand as of June 30th and no debt.

  • AeroGrow added new Canadian retailers going into the holiday season including Hudson's Bay, Canadian Tire, as well as an 'expanded' presence on Amazon's European platforms. 

  • AeroGrow announced that they will be launching "several innovative new products," in the Fall including the AeroGarden Farm (a large and advanced 24-pod model) and the first-ever AeroGarden designed exclusively for kids.

 

To stay up to date with important developments in the cannabis industry, be sure to subscribe to one or more of our free email newsletters. Also, don't forget to connect with The Daily Marijuana Observer on social media via Facebook, Twitter, StockTwits, and Instagram

 

D/M/O

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.