Miracle-Gro AeroGarden
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The Miracle-Gro AeroGarden is a smart counter-top indoor garden made by AeroGrow International. The AeroGarden features proprietary technology which helps consumers grow fresh herbs, vegetables, salad greens and more indoors, year-round, using hydroponics. The seeds come in special seed pods, or consumers can use their own seeds with a custom kit. The plants receive artificial sunlight with built in, full spectrum CFL or LED grow lights that turn on and off automatically. Most AeroGardens have an adjustable light hood that can be used to grow taller plants, such as tomatoes. The AeroGarden comes in several different designs, colors and sizes, accommodating three, six, seven or nine seed pods at one time. All of the AeroGardens make use of liquid nutrient that is mixed into the water reservoir. Reminders tell the user when to add water and the patented liquid nutrients. Using hydroponics, roots soak in nutrient-rich water and no soil is needed. AeroGarden comes with plastic domes to put over seed pods to encourage germination.[1]
History[edit]
AeroGrow was founded by Michael Bissonnette in July 2002 and became a publicly-traded company on February 24, 2006.[2] AeroGrow is headquartered in Boulder, Colorado. Since introducing the first AeroGarden in March 2006, AeroGrow has expanded the product line to include multiple gardens with different price points and consumer benefits. Today, there are 33 different models and 150-plus seed kits offered.[3] Mike Wolfe became Chief Executive Officer of the company on March 31, 2011 after having served as the company's President & COO beginning in January, 2010.[4] On April 23, 2013, the company announced that Scotts Miracle-Gro made a $4.5 million equity investment and IP acquisition with the Company, resulting in a 30% ownership interest in AeroGrow.[5] In November 2016, Scotts paid $47.8 million to expand its stake in AeroGrow to 80 percent [6]
Products[edit]
Seed Pod Kits
AeroGrow offers 2-Pod, 3-Pod, 6-Pod, 7-Pod, 9-Pod, and 12-Pod AeroGarden Seed Kits. There are various types of kits, including herb, vegetable, flower and salad green kits. Customers can also buy the self-starter Grow Anything Kit that allows the user to plant and grow their own seeds. There are more than 150 Seed Pod Kits available to choose from.
Sales[edit]
For the three months ended December 31, 2017, AeroGrow recorded total revenue of $17.4 million, an increase of 31.4% over the same period last year.[7] Adjusted EBITDA for the full year was $1.4 million, an increase of 365%.[7] Net revenue increased 19% year over year to $6.0 million and adjusted EBITDA for the quarter improved from $536,000 to $718,000.[7] The company had total assets of $15.5 million and total stockholders equity of $11.9 million with zero debt and more than $8.8 million of cash on hand. AeroGrow stated in a press release that its fiscal year ended March 31, 2017 was the strongest year in its history, attributing much of the strength to its online and retail presence.[8]
References[edit]
- ↑ "10 Tips for Growing Plants in an Aerogarden - Yahoo Voices - voices.yahoo.com". 2013-12-20. Archived from the original on 2013-12-20. Retrieved 2017-07-19.
- ↑ "Aerogrow International Inc. AERO Board". Investors Hub. Retrieved 2017-07-20.
- ↑ "Shop & Save on AeroGardens, Seed Kits, Grow Lights | AeroGrow Official Store". www.aerogarden.com. Retrieved 2017-07-20.
- ↑ "Management". www.b2i.us. Retrieved 2017-07-20.
- ↑ "Scotts Miracle-Gro acquires stake in Boulder's AeroGrow". Retrieved 2017-07-19.
- ↑ "Scotts gains majority ownership of hydroponics company AeroGrow". American City Business Journals. Retrieved 11 December 2017.
- ↑ 7.0 7.1 7.2 Inc., AeroGrow International,. "AeroGrow Reports Results for the Fourth Quarter and Full Year Ended March 31, 2017". GlobeNewswire News Room. Retrieved 2017-07-20.
- ↑ NetworkNewsWire. "Industry Leaders Riding High as Marijuana Demand Outpaces Supply". www.prnewswire.com. Retrieved 2017-07-20.
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