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. operates as a diversified sports, media, and experiential marketing platform under the Flash Sports & Media brand. Company news centers on live-event production, original content, branded fan experiences, media-rights opportunities, sponsorship activity, and sports and entertainment intellectual property.
Recurring updates include urban-gro's participation in the Lanka Premier League through subsidiary Innovative Production Group FZ, LLC, including tournament, venue, registration, and commercial-partnership developments. Other news themes include Nasdaq listing compliance, shareholder voting matters, capital-structure actions, governance updates, and operating and financial results.
urban-gro (Nasdaq: UGRO), a leader in Controlled Environment Agriculture, will showcase its advancements at three major events: the H.C. Wainwright 23rd Annual Global Investment Conference from Sept. 13-15, NYC AgTech Week 2021 on Sept. 23, and GreenTech from Sept. 28-30. CEO Bradley Nattrass will share insights on the global CEA industry at Wainwright and GreenTech. Additionally, Jim Dennedy, President and COO, will discuss capital raising at AgTech Week. These events highlight urban-gro's commitment to expanding in the cannabis and food-focused vertical farming sectors.
urban-gro (Nasdaq: UGRO) reported record Q2 2021 revenues of $12.8 million, a 220% increase year-over-year, and is now profitable with net income of $1.3 million. This marks the first positive net income in the company's 8-year history. The company has achieved positive Adjusted EBITDA for the fourth consecutive quarter and increased its project backlog to $27.9 million. Full year revenue guidance is set between $54 to $59 million. The acquisition of MJ12 Design Studio positions urban-gro as an industry leader in integrated services.
urban-gro, Inc. (Nasdaq: UGRO) has announced changes to its upcoming 2Q21 conference call, now scheduled for August 11, 2021, at 4:15 PM ET. The call will feature prepared remarks and a Q&A session focusing on the company’s operational and financial highlights. Interested parties can participate via phone or through a live audio webcast (webcast link). For those unable to attend, a replay will be available until August 25, 2021 by dialing the provided numbers and entering the passcode.
urban-gro has completed the acquisition of MJ12 Design Studio for $9.1 million, aimed at enhancing its architectural and engineering services in the Controlled Environment Agriculture (CEA) sector. This transaction is expected to generate $7-9 million in revenue and $1.5-2 million in Adjusted EBITDA over the next year, while also adding synergies that may increase revenue from existing engineering services by over $10 million. With this acquisition, urban-gro can now offer integrated design solutions across various facility types.
urban-gro has announced the acquisition of MJ12 Design Studio for $9.1 million, funded through cash and stock. This strategic move is expected to generate $7-$9 million in revenue and $1.5-$2.0 million in Adjusted EBITDA over the next year. The acquisition will enhance urban-gro’s capabilities by integrating architectural design into its offerings, aiming for over $10 million in incremental revenue from engineering services. With 70 open projects now, urban-gro will provide comprehensive project management for cannabis facilities.
urban-gro (Nasdaq: UGRO) will report its second quarter financial results on August 11, 2021, after market close. An audio webcast and conference call will be held that evening at 5:00 PM ET for investors, featuring a Q&A session. Interested parties can access a dial-in replay of the call until August 25, 2021. urban-gro specializes in engineering and systems integration for Controlled Environment Agriculture (CEA), serving both cannabis and food sectors. For more details, visit urban-gro’s investor relations page.
urban-gro (Nasdaq: UGRO) announced the acquisition of MJ12 Design Studio and its parent company, 2WR+ Partners, for $9.1 million, funded through cash and UGRO stock. This strategic move expands urban-gro's services in Controlled Environment Agriculture (CEA), enhancing its ability to provide integrated architecture and engineering solutions. The acquisition is expected to be accretive to earnings in the current fiscal year, with over 70 open client projects now part of urban-gro's portfolio, positioning the company for growth in the rapidly evolving CEA market.
urban-gro (Nasdaq: UGRO) announced that Todd Statzer, VP of Environmental Sciences Group, will present at CannaCon Midwest on June 26, 2021, discussing Integrated Pest Management (IPM) programs. His lecture will outline IPM's three pillars in the context of Michigan's cannabis market. With over 30 years in agriculture and horticulture, Statzer aims to guide cultivators on effective pest management. urban-gro will also have experts available to address questions about their systems and services at booth #116.
urban-gro, a leading global horticulture company, announced its addition to the Russell 2000® Index, effective June 25, 2021. This index is crucial for investors managing small-cap segments. CEO Bradley Nattrass expressed optimism about leveraging this exposure for shareholder value growth. Additionally, the company appointed Anita Britt and David Hsu to its Board of Directors, enhancing operational and financial expertise. Britt brings over 30 years in financial management, while Hsu has significant experience in controlled environment agriculture (CEA) from his time at Cronos Group.
urban-gro reported record Q1 2021 revenues of $12.0 million, a 182% increase from $4.2 million in Q1 2020. Adjusted EBITDA improved to $0.5 million, up $1.4 million year-over-year. The backlog reached $15.2 million, an increase from $14.6 million at year-end 2020. With a strong cash position of $50 million and minimal debt, the company is positioned for growth. The recent Nasdaq uplisting and a public offering raised $62.1 million, enhancing financial stability.