Urban-Gro, Inc. Stock Price, News & Analysis

urban-gro, Inc. (NASDAQ: UGRO) has secured a new construction contract to build a Fogo de Chão restaurant in Tigard, Oregon. The integrated professional services and Design-Build firm will manage the entire project lifecycle from preconstruction through delivery, with revenue expected to be recognized by Q3 2025.

This contract expands urban-gro's existing portfolio of Fogo de Chão projects across multiple U.S. states, including Texas, Colorado, Utah, and Nevada. The project is set to commence immediately, demonstrating the company's continued success in securing repeat business in the hospitality sector.

urban-gro (NASDAQ:UGRO) has received a notification from Nasdaq on April 16, 2025, regarding non-compliance with Listing Rule 5250(c)(1) due to failure to file its Annual Report (Form 10-K) for the fiscal year ended December 31, 2024. The delay stems from two main factors: the need to restate previous financial statements due to errors in accounting for deferred tax liabilities from historical share-purchase acquisitions, and turnover in the company's finance department.

The notification does not immediately affect UGRO's listing on the Nasdaq Capital Market. The company has until June 16, 2025 (60 days) to submit a compliance plan to Nasdaq. If accepted, Nasdaq may grant an extension until October 13, 2025. The company has already completed and filed the restated financial statements on February 19, 2025, and intends to file the Form 10-K as soon as possible.

urban-gro (NASDAQ:UGRO) has secured three new contracts with Brazilian restaurant chain Fogo de Chão, expanding their commercial sector presence. The contracts include:

• A comprehensive construction contract in Murray, Utah, covering the entire project lifecycle
• Two Construction Management (CM) contracts in Las Vegas, Nevada and Rancho Cucamonga, California, where urban-gro will serve as the owner's representative

These agreements complement urban-gro's existing Fogo de Chão projects in Texas and Colorado. Work will commence immediately, with most revenue expected to be recognized by Q3 2025.

urban-gro (NASDAQ:UGRO) has secured a $1.2 million contract with Muscogee County School District in Georgia for architectural design services. The project focuses on campus enclosures across the district's 53 schools, aimed at enhancing student safety and security.

The scope involves transforming open-air breezeways into enclosed pathways, creating a more cohesive campus design that functions like a single building. The company expects to recognize the majority of the project revenue over the next three quarters of 2025.

urban-gro (NASDAQ:UGRO) has secured a significant $4 million contract as the lead designer for a new hospital project in the southeastern United States. The company's architectural division will provide architectural, interior design, and project management services for the first phase of the development, which has an anticipated construction value of $80 million.

The project aims to enhance access to advanced medical care for the local community. The Company expects to recognize the majority of the project's revenue in 2025. Additionally, urban-gro will provide master planning and design services for an additional eighty acres of development in future phases.

urban-gro (Nasdaq:UGRO) has secured a significant $6 million LED lighting equipment contract with a leading northern-based North American Cannabis Operator. The company, which specializes in Controlled Environment Agriculture (CEA) and commercial sector solutions, expects to recognize the revenue from this deal in the first half of 2025.

The lighting upgrade project aims to enhance efficiency and crop yields, contributing to more consistent, reliable, and high-quality harvests. Chairman and CEO Bradley Nattrass highlighted the company's strong client relationships and high rate of repeat business in the CEA sector.

urban-gro, Inc. (Nasdaq:UGRO) has secured a significant $24 million construction contract with a leading Midwest-based Multi-State Operator (MSO) for building a state-of-the-art vertically integrated cannabis facility. This contract follows the successful completion of the facility's design and preconstruction phases. The company, which specializes in providing solutions to Controlled Environment Agriculture (CEA) and commercial sectors, expects to recognize the project's revenue within the 2025 calendar year.

urban-gro (NASDAQ:UGRO) has received an extension from Nasdaq's Listing Qualifications Staff until February 18, 2025, to regain compliance with Nasdaq Listing Rule 5250(c)(1). The extension allows the company to file its delayed Quarterly Reports for Q2 and Q3 2024, along with restatements of financial statements for fiscal years 2022, 2023, and Q1 2024.

The filing delay is primarily due to the company's change in auditor and their ongoing comprehensive audit and review process related to the restatement of historical financial statements. The extension has no immediate impact on UGRO's listing status on the Nasdaq Capital Market.

urban-gro (NASDAQ:UGRO) received a notice from Nasdaq on September 21, 2024, regarding non-compliance with listing Rule 5250(c)(1) due to delayed filing of its Q3 2024 10-Q report. The delay stems from the need to restate financial statements from 2022-2024 due to errors in accounting for deferred tax liabilities related to historical share-purchase acquisitions. The company must file all delinquent reports by January 31, 2025 to maintain Nasdaq listing. While there's no immediate effect on the stock listing, failure to meet the deadline could result in delisting, subject to appeal.