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 (Nasdaq: UGRO) announced a binding letter of intent to acquire Dawson Van Orden, Inc. (DVO), an engineering firm specializing in indoor Controlled Environment Agriculture (CEA), for $7.25 million. This acquisition will enhance urban-gro's engineering capabilities and is expected to generate immediate revenue and margin growth. The funding will be sourced from cash, a seller's note, and UGRO common stock. DVO reported $5.5 million in revenue and over 20% EBITDA in the past year. Completion of the acquisition is anticipated in Q4 2022.
urban-gro, Inc. (Nasdaq: UGRO) announced strong growth in its design-build division, signing over $50 million in new contracts during Q3 2022. Following its acquisition of Emerald Construction Management, the company now offers a comprehensive design-build solution, managing everything from architecture to equipment integration. CEO Bradley Nattrass expressed confidence in ongoing client interest and reiterated guidance for Q3, highlighting the company’s strategy for sustainable growth in the Controlled Environment Agriculture (CEA) sector and beyond.
XS Financial Inc. announced the receipt of a delayed draw of $10 million as part of its $43.5 million unsecured convertible notes financing. This financing, led by a large institutional investor, originally funded $33.5 million at the closing on November 1, 2021. The company, specializing in CAPEX financing for U.S. cannabis firms, has partnered with over 250 OEMs, contributing to recurring revenues and strong profit margins.
urban-gro, Inc. (Nasdaq: UGRO) announced participation in several October conferences, including A.G.P.’s Fall Consumer Cannabis Conference and the Lucky Leaf Expo. Key executives will host presentations and engage in one-on-one meetings with investors. The conferences aim to showcase the company's solutions in Controlled Environment Agriculture (CEA). Notably, Bradley Nattrass, CEO, will present at multiple events, enhancing investor relations. The company continues to focus on delivering value-added services across various sectors, including industrial and healthcare.
urban-gro (Nasdaq: UGRO) has announced a new stock repurchase program authorizing up to $2 million to buy back its common stock, succeeding a previously completed $8.5 million program. CEO Bradley Nattrass highlighted the company's strong balance sheet, with approximately $2.00 per share in net cash as of June 30, 2022, indicating ample flexibility for shareholder returns and growth initiatives. The repurchase strategy aims to capitalize on current market prices perceived as a significant discount to intrinsic value, enhancing shareholder value.
urban-gro, Inc. (Nasdaq: UGRO) announced its participation in key industry conferences this September. The company will showcase its services at the Cannabis Business Expo in Zurich on September 10-11, with Managing Director Arie Kamp attending. Additionally, CFO Dick Akright will present at the H.C. Wainwright Annual Global Investment Conference in New York on September 14, while CEO Bradley Nattrass will engage in a fireside chat at the Benzinga Cannabis Capital Conference in Chicago on September 13. These events highlight urban-gro's commitment to networking and growth in the Controlled Environment Agriculture sector.
urban-gro reported second-quarter revenue of $16.3 million, marking a 27% increase year-over-year. However, the net loss was $(1.7 million), with Adjusted EBITDA at $(0.5 million). The company holds a strong cash position of $22.8 million with no debt and a project backlog of $22.0 million. Guidance for Q3 2022 anticipates revenue of $10-$11 million and an Adjusted EBITDA loss of $(2.6) to $(2.4 million). The company is strategically diversifying into new markets amidst challenges in the cannabis sector.
urban-gro, Inc. (Nasdaq: UGRO) announced it will release its financial results for Q2 2022 on August 15, after market close. The company will hold a conference call at 4:30 PM ET the same day to discuss operational highlights and financial metrics. Key contact numbers for participants are provided, along with access details to a replay of the call available until August 29. urban-gro specializes in integrated professional services for Controlled Environment Agriculture and other commercial sectors, emphasizing innovation and customer experience.
urban-gro (Nasdaq: UGRO) continues to strengthen its market presence through strategic acquisitions. Following the recent acquisition of Emerald C.M., the company secured seven new design-build contracts within 90 days, boosting its backlog significantly. Noteworthy clients include major players in healthcare and food industries, reflecting urban-gro's ability to diversify beyond Controlled Environment Agriculture (CEA). CEO Bradley Nattrass emphasized the importance of leveraging their complete service capabilities to enhance operational efficiency and cater to varying market demands.
urban-gro (Nasdaq: UGRO) announced that its Chairman and CEO, Bradley Nattrass, has been named to the 2022 Colorado Titan 100 list, honoring top CEOs for leadership and influence. Nattrass, co-founder since 2014, is recognized for guiding the company in delivering integrated solutions in Controlled Environment Agriculture (CEA). He emphasized the success of urban-gro's 125 employees and the commitment to provide top-tier solutions, especially in the rapidly growing cannabis and vertical farming sectors. The Titan 100 Annual Awards Ceremony occurs on June 2, 2022, in Denver.