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Urban-gro Inc - UGRO STOCK NEWS

Welcome to our dedicated news page for Urban-gro (Ticker: UGRO), a resource for investors and traders seeking the latest updates and insights on Urban-gro.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Urban-gro's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Urban-gro's position in the market.

Rhea-AI Summary
Urban-gro, Inc. (UGRO) reported a backlog of $110 million as of December 31, 2023, with a sequential increase of $26 million. The company's 2024 outlook projects revenue growth and positive Adjusted EBITDA. Full year 2023 results showed a 6.7% revenue increase to $71.5 million, while net income was $(18.7) million. For full year 2024, revenue is expected to exceed $84.0 million with positive Adjusted EBITDA. The first quarter 2024 preliminary guidance indicates revenue at or above $15.0 million and Adjusted EBITDA at or better than ($0.5) million. Urban-gro remains focused on cost reduction and operational efficiency to drive sustained positive Adjusted EBITDA in 2024.
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Rhea-AI Summary
urban-gro, Inc. will report its Q4 and full-year 2023 financial results on March 27, 2024. The company's management will host a conference call and webcast to discuss operational and financial highlights.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.12%
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conferences earnings
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Rhea-AI Summary
urban-gro, Inc. (Nasdaq: UGRO) has secured a $20 million design-build contract with a U.S.-based multi-state Cannabis cultivation and retail dispensary operator. The contract includes the design and construction of a new cultivation facility and the interior retrofit of an existing facility. Revenue is expected to be recognized over the next six quarters, demonstrating the Company's turnkey approach and unique industry expertise. With a team of nearly 140 professional service providers and horticulturalists, urban-gro is well-positioned to guide clients through their projects in the Cannabis industry.
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0.71%
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Rhea-AI Summary
urban-gro, Inc. (Nasdaq: UGRO) has announced the finalization of a $10 million interest-only revolving asset-based lending facility for its wholly-owned construction subsidiary, UG Construction, Inc. The facility will provide the company with non-dilutive working capital to support its growth trajectory in various market sectors.
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0.85%
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Rhea-AI Summary
urban-gro, Inc. (Nasdaq: UGRO) has been awarded a $9.6 million Design-Build contract for a CPG client's project in the Southwest United States, showcasing the Company's expertise in the industrial vertical. The contract is expected to be completed over the next three quarters, reflecting the Company's commitment to service and market sector diversification.
Rhea-AI Impact
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-2.59%
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Rhea-AI Summary
UGRO - urban-gro Reports 69% Increase in Revenue to $20.9 Million for Q3 2023, Expects $30 Million in Q4 Revenue - urban-gro, Inc. (Nasdaq: UGRO) reported Q3 2023 financial results, showing a 69% increase in revenue to $20.9 million, and a net loss of $3.4 million, with a sequential increase of 11%. Adjusted EBITDA improved by $1.0 million versus the prior year period. The company expects approximately $30 million in revenues and breakeven to slightly positive Adjusted EBITDA for Q4 2023.
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Rhea-AI Sentiment
End-of-Day
3.08%
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earnings
Rhea-AI Summary
urban-gro, Inc. will report its financial and operating results for Q3 2023 on November 9, 2023. A conference call and webcast will follow, providing insights into the Company's operational and financial highlights.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.7%
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conferences earnings
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Rhea-AI Summary
urban-gro signed multiple contracts worth over $4.5 million, anticipating revenue recognition in the next two quarters.
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-0.81%
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urban-gro secures contracts worth $8 million in the CEA cannabis sector, anticipating revenue recognition over the next four quarters.
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-0.74%
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urban-gro awarded $11 million contract in hospitality sector, driving strong growth
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7.69%
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Urban-gro Inc

Nasdaq:UGRO

UGRO Rankings

UGRO Stock Data

21.18M
7.02M
21.92%
22.04%
1.42%
Farm & Heavy Construction Machinery
Industrials
Link
United States
Lafayette

About UGRO

urban-gro is a leading cultivation technologies company delivering best-in-class systems, solutions, and technologies to large-scale cannabis cultivators throughout north america. urban-gro helps cultivators achieve sustained scalability via innovative technologies that drive down cost, increase economic yield, and reduce environmental impact. not only is urban-gro recognized as one of the cannabis industry’s twenty largest ancillary companies, the company is developing its own innovative cultivation technologies to optimize efficiencies and maximize roi.