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 a leading integrated professional services and design-build firm specializing in controlled environment agriculture (CEA), cannabis cultivation technologies, and commercial construction solutions. This page serves as the definitive source for official company news, press releases, and strategic updates.
Investors, analysts, and industry professionals will find timely information on earnings announcements, partnership developments, project milestones, and operational advancements. Our curated collection ensures access to verified updates about UGRO's architectural engineering services, equipment innovations, and cross-sector projects in healthcare, industrial, and municipal markets.
Content spans regulatory filings, leadership updates, and progress reports on design-build initiatives. Bookmark this page to efficiently track UGRO's evolving role in optimizing facility efficiencies through its unique blend of technology-driven design and construction management expertise.
urban-gro, Inc. (NASDAQ:UGRO) announced a delay in filing its Q2 2024 10-Q and the need to restate financial statements for 2022, 2023, and Q1 2024 due to incorrect accounting of deferred tax liabilities from historical acquisitions. The company expects no material impact on revenue, Adjusted EBITDA, or cash flows. Key points:
1. New auditor Sadler Gibb identified the issue during a re-audit of 2023 financials.
2. Q2 2024 revenue expected to reach $17.5 million, a 13% sequential increase.
3. Restatement likely to reduce cumulative net losses for 2022 and 2023.
4. Company aims to file restated financials and Q2 2024 10-Q as soon as practicable.
5. Previously issued financial reports and communications for affected periods should no longer be relied upon.
urban-gro (NASDAQ: UGRO) announced securing approximately $12 million in new contracts within the cannabis sector during Q2 2024. These contracts encompass services like engineering, architecture, design, equipment procurement, and construction management for cultivation and retail dispensary projects. urban-gro expects to recognize most of this revenue by the end of Q3 2024. CEO Bradley Nattrass cited positive cannabis sector momentum, partly due to regulatory developments and upcoming votes on adult-use cannabis in Florida, as key drivers. The company has been optimizing its multi-sector strategy and infrastructure over the past two years to better meet anticipated demand.
urban-gro (NASDAQ: UGRO), a company specializing in solutions for Controlled Environment Agriculture and other commercial sectors, has appointed Sadler, Gibb & Associates as its new independent registered public accounting firm. This decision follows a comprehensive evaluation process and has received approval from the Board of Directors and the Audit Committee.
urban-gro, Inc. reported first-quarter 2024 financial results with revenue reaching $15.5 million, a 4% increase from the previous quarter. The company saw a net loss of $2.1 million, an improvement from the prior year period, and reiterated its full-year 2024 guidance of over $84 million in revenues. The adjusted EBITDA was negative $0.3 million but showed significant improvement compared to the previous year. urban-gro remains focused on cost reduction and growth strategies to enhance performance.
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