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During the six-months prior to September 30th, the company received $1.7 million in cash from Scotts.Īs of September 30th, Aerogrow had a cash balance of $414,000 and its total inventory balance was $5.5 million. Aergrow also recorded an adjusted EBITDA loss of $392,000 and an operating loss of $627,000.Īerogrow continues to support its initatives through its term loan agreement with Scotts Mircale-Gro. It also had good traction at new partners such as Sur La Table, Williams-Sonoma, Ace Hardware and retail outlets.Īlthough Aerogrow generated $2.2 million in revenue during the quarter, the company reported a $1.1 million net loss.

The company's products are primarily sold in the United States and Canada as well as in Europe, Asia and Australia.ĪeroGrow reported earnings after the market closed yesterday and its retail business experienced solid growth with Amazon, its largest account.

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The company manufactures, distributes and markets seven different models of its AeroGarden systems as well as over 40 varieties of seed pod kits and a full line of accessory products. Scotts made a $4.5 million equity investment and IP acquisition with the company.Īccording to its bio, AeroGrow develops, markets, and distributes advanced indoor aeroponic garden systems for the consumer gardening, cooking and small indoor appliance markets worldwide. In April 2013, Scotts Miracle-Gro entered into a strategic alliance with AeroGrow International ( AERO). Scotts Miracle Gro has been focused on increasing its market share in the hydroponic grow solutions industry for several years. purchased 75% of the company for $136 million. Scotts' subsidiary Hawthorne Gardening Co. Scotts' subsidiary also acquired its sister business Bio-Organic Options, which sells organic soils and other gardening supplies under the Vermicrop brand.Įarlier this year, Scotts added to its portfolio of hydroponic businesses through the acquisition of Gavita Holland BV, which has $100 million in annual sales. In April 2015, we highlighted Scotts Miracle Gro as an ancillary play on the cannabis industry after its subsidiary acquired Santa Rosa-based General Hydroponics, a leading international supplier of liquid nutrients used to grow food, flowers and indoor marijuana. JPMorgan's analyst said, 'We view Scotts as a reasonably valued investment over a longer time frame as weather impacts have understated Scotts' sales growth and Scotts' investment in its faster growing hydroponics portfolio should provide further upside.'

Earlier this year, JPMorgan ( JPM) recommended Scotts Miracle-Gro ( SMG) to its clients and changed its rating to Buy from Hold because it believes Scotts' recent hydroponics business acquisitions will pay off as legal marijuana use increases.