Welcome to our dedicated page for Urban-Gro news (Ticker: UGRO), a resource for investors and traders seeking the latest updates and insights on Urban-Gro stock.
urban-gro, Inc. (Nasdaq: UGRO) is an integrated professional services and Design-Build firm that reports activity across the Controlled Environment Agriculture ("CEA"), industrial, healthcare, hospitality, education, and other commercial sectors. The news flow around UGRO reflects both its operating projects and its capital markets and regulatory developments.
Company press releases highlight new project awards and client relationships. Recent announcements describe LED lighting equipment contracts with a North American cannabis operator, architectural and design leadership for a new hospital in the southeastern United States, K-12 campus enclosure design work for a Georgia school district, and multiple construction and construction management contracts for Fogo de Chão restaurant locations in several U.S. states. These items illustrate how urban-gro applies its architectural, engineering, and Design-Build capabilities across CEA, healthcare, hospitality, and education projects.
News items also cover Nasdaq listing compliance matters and related timelines. The company has disclosed notices and determination letters from Nasdaq concerning minimum bid price requirements, timely filing of periodic SEC reports, and minimum stockholders’ equity. It has reported appeals to Nasdaq Hearings Panels, conditional decisions allowing continued listing, and subsequent notices tied to delayed quarterly filings.
In addition, urban-gro’s news includes strategic and financial updates, such as cost-reduction efforts, asset divestitures involving architectural subsidiaries and customer lists, financing arrangements and defaults at certain subsidiaries, and a binding letter of intent for a proposed merger with Flash Sports & Media, Inc. Investors and observers can use the UGRO news stream to follow how the company balances project execution, portfolio adjustments, financing, and exchange compliance.
For those tracking UGRO, this news page provides a centralized view of the company’s disclosed contracts, strategic actions, and regulatory communications over time.
urban-gro reported record third quarter revenue of $18.3 million, a 119% increase from last year, with organic growth at 106%. The company achieved a net income of $0.1 million, a turnaround from a net loss of ($0.7) million in the prior year. Adjusted EBITDA rose to $1.0 million, marking the fifth consecutive quarter of positive adjusted EBITDA. The company raised its full-year revenue guidance to over $60 million and announced an exclusive contract to build 20 vertical farms in Europe, signaling strong growth potential.
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urban-gro, a leader in Controlled Environment Agriculture (CEA) solutions, will participate in the Rocky Mountain Microcap VIII Conference on Nov. 3, 2021, and the Roth 10th Annual Technology & Inaugural AgTech Answers Virtual Event on Nov. 16, 2021. A conference call to discuss Q3 2021 earnings is scheduled for Nov. 9, 2021, at 4:30 p.m. ET. Urban-gro's expertise in integrated CEA systems supports both cannabis and food production, enhancing operational efficiency for its clients.
urban-gro (Nasdaq: UGRO) announced a $2.5 million investment in XS Financial Inc. (CSE: XSF) through a convertible note offering worth $43.5 million. This strategic move enhances urban-gro's alliance with XSF, enabling clients to access non-dilutive, low-cost capital for equipment purchases in the cannabis industry. Chief Executive Officer Bradley Nattrass highlighted the significance of this partnership in addressing financing challenges faced by clients in cultivation and extraction. The funding includes $33.5 million at closing and a $10 million delayed draw until June 30, 2022.
XS Financial has successfully completed a private placement of unsecured convertible notes, raising US$43.5 million. The financing, led by a large institutional investor, will primarily support capital expenditure financing for U.S. cannabis operators. US$33.5 million is funded at closing, with US$10 million available until June 30, 2022. XS Financial's pipeline exceeds US$100 million in CAPEX financing demand. Interest on the notes accrues at rates of 9.5% and 8% upon a potential NASDAQ listing. The proceeds will enhance XS Financial's capacity to support growing customer needs in the cannabis sector.
urban-gro, Inc. (Nasdaq: UGRO) announced the appointment of Sonia Lo to its Board of Directors, enhancing its leadership in the Controlled Environment Agriculture (CEA) sector. Lo, who previously served as CEO of Sensei Ag and Crop One Holdings, brings over 20 years of expertise in agriculture and technology. CEO Bradley Nattrass expressed excitement about her contributions towards expanding urban-gro's global presence. Lo emphasized the importance of optimal unit-level economics in CEA and stated that urban-gro is uniquely positioned to improve product quality while managing costs.
urban-gro (Nasdaq: UGRO) will report its third-quarter financial results for the period ending September 30, 2021, after market close on November 09, 2021. An audio webcast and conference call will take place at 4:30 PM ET the same day, featuring operational highlights and a Q&A session. Interested parties unable to attend can access a replay until November 23, 2021. urban-gro specializes in Controlled Environment Agriculture and aims to optimize cultivation facilities.
urban-gro (Nasdaq: UGRO) has partnered with XS Financial to launch a Financial Services division, aimed at providing CAPEX financing solutions for clients in the indoor Controlled Environment Agriculture (CEA) market. This strategic deal enhances purchasing power with leading horticulture manufacturers and broadens market reach within the cannabis industry. Both companies have a proven track record in financing equipment purchases for multi-state operators, ensuring a robust service offering for their clients.
XS Financial has partnered with urban-gro to offer CAPEX leasing solutions to the cannabis sector. This strategic alliance will provide urban-gro's customers with financing options while enhancing XS Financial's reach within the indoor CEA market. With a solid track record in financing for cannabis operators, both companies aim to improve clients' purchasing power and streamline supply chains. XS Financial continues expanding its capital markets access, having syndicated over $5.7M USD of existing leases.
urban-gro (Nasdaq: UGRO), a leader in Controlled Environment Agriculture, will participate in five key conferences in October 2021. Events include NECANN New Jersey on October 2-3, Alliance Global Partners Virtual Conference on October 5, LD Micro Main Event (virtual and in-person) on October 12-14, Benzinga Cannabis Capital Conference on October 14, and MJBizCon in Las Vegas from October 20-22. CEO Bradley Nattrass will address advancements in the cannabis sector, reflecting urban-gro's expertise and leadership in efficient cultivation systems.