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

urban-gro reported record revenues of $25.8 million in 2020, a 7% increase over 2019, with $9.2 million in Q4, showing a 30% rise year-over-year. The company ended 2020 with a backlog exceeding $14 million and achieved positive Adjusted EBITDA for the second consecutive quarter. Although net loss improved to $5.1 million from $8.4 million, gross margin decreased to 22% from 27% due to lower-margin sales. The company raised $62.1 million in equity and aims for operational cash flow positivity by year-end 2021.

urban-gro, Inc. (NASDAQ: UGRO) will announce its fourth quarter and year-end 2020 financial results on March 31, 2021. The company specializes in engineering and designing Controlled Environment Agriculture (CEA) facilities and will host a conference call at 8:30 AM ET that same day, led by CEO Bradley Nattrass and CFO Dick Akright. Investors can access the call via phone or through a live audio webcast, which will also be archived for 90 days.

urban-gro (NASDAQ: UGRO) has signed commercial representation agreements with companies in France and the Netherlands, marking its first ventures outside the US. These agreements aim to boost its presence in the rapidly growing European market for Controlled Environment Agriculture (CEA) solutions. The company is also collaborating with a manufacturing partner to develop specialized environmental mechanical systems tailored for Europe. CEO Bradley Nattrass emphasized the significant growth opportunity presented by this expansion into Europe, which is driven by a surge in demand for sustainable CEA facilities.

urban-gro (NASDAQ: UGRO) recently appointed Barbara Jacobs as Vice President of Marketing, enhancing its leadership team. The company signed its first Canadian engineering and design services contract focusing on Controlled Environment Agriculture, particularly for a vertical farming facility. This contract with Interius Farms aims to deliver local produce by leveraging urban-gro's expertise in CEA. Additionally, urban-gro delivered its first HVAC mechanical system for a cannabis cultivation facility, marking a significant milestone in its expanded environmental equipment offerings.

urban-gro (NASDAQ: UGRO) CEO Bradley Nattrass will present at Benzinga's Cannabis Capital Conference on February 26, 2021, at 9:30 AM ET. The event offers an opportunity for investors to learn about urban-gro's focus on Controlled Environment Agriculture (CEA) and its market potential. Interested investors can register for a free spectator pass to attend the presentation. urban-gro specializes in engineering and designing CEA facilities globally, ensuring a tailored approach to horticultural operations. For more, visit urban-gro.com.

urban-gro, a leader in Controlled Environment Agriculture (CEA), has announced the appointment of James H. Dennedy as President and Chief Operating Officer. With over 25 years of experience, Dennedy aims to leverage his expertise to scale operations effectively. Under his leadership, urban-gro has completed over 300 projects and achieved positive adjusted EBITDA in the last two quarters. The company's recent listing on Nasdaq positions it for significant growth in the horticulture market. Dennedy's background includes M&A experience and advanced degrees in Economics and Business.

urban-gro (NASDAQ: UGRO) has successfully eliminated over 80% of its debt by repaying $5.76 million, bringing total liabilities down to approximately $1 million. This significant reduction in high-cost debt strengthens the company’s balance sheet and enhances its cash flow, positioning urban-gro well for future growth opportunities and acquisitions in the controlled environment agriculture sector. CEO Bradley Nattrass stated the company is fundamentally stronger, supported by its recent financing and Nasdaq listing.

LAFAYETTE, Colo., Feb. 17, 2021 – urban-gro (NASDAQ: UGRO) announced the closing of a public offering of 6,210,000 shares at $10.00 each, raising gross proceeds of $62.1 million. The offering included 810,000 shares from the underwriter's option to purchase additional shares. The proceeds will support organic growth, expand into the European Controlled Environment Agriculture market, and cover general corporate purposes, including potential acquisitions and debt repayment.

urban-gro, Inc. (NASDAQ: UGRO) has announced the pricing of a public offering of 5,400,000 shares at $10 each, totaling gross proceeds of $54 million. The underwriters have an additional option for 810,000 shares. The offering is set to close on February 17, 2021. Proceeds will support organic growth, expansion in the European CEA market, potential acquisitions, and debt repayment. Trading on the Nasdaq Capital Market begins on February 12, 2021, under the symbol UGRO.