In final quarter as independent company, AeroGrow reports more than doubled YoY sales

BOULDER — AeroGrow International Inc. (OTCQB: AERO) said it had sales of $14.3 million in the last quarter, amounting to a 224% increase over the same period last year.

In its earnings report Monday evening, the Boulder at-home hydroponics company said it had net incomes of $1.26 million for the period compared to posting a $1.12 million loss in the same quarter last year.

CEO J. Michael Wolfe said in a statement that sales continued to rise across all of its sales platforms, but the skyrocketing sales during the early portion of the pandemic have leveled off to levels still higher than before the crisis.

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He also warned that broader supply chain issues across the globe could hamper AeroGrow’s ability to keep up with demand coming into the final quarter of the year, which is usually the company’s busiest season.

“We must acknowledge that there is general infrastructural stress affecting the world’s supply chain… that could impact our inventory levels and which represents a potential risk as we enter the key holiday selling season,” he said.

The report is the final one for AeroGrow as its own company, as majority owner Scotts Miracle-Gro Co. (NYSE: SMG) acquired the remaining shares in AeroGrow this month and made it a wholly owned subsidiary.

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