urban-gro, Inc. Awarded Three New Contracts with Fogo de Chão
urban-gro (NASDAQ:UGRO) has secured three new contracts with Brazilian restaurant chain Fogo de Chão, expanding their commercial sector presence. The contracts include:
- A comprehensive construction contract in Murray, Utah, covering the entire project lifecycle
- Two Construction Management (CM) contracts in Las Vegas, Nevada and Rancho Cucamonga, California, where urban-gro will serve as the owner's representative
These agreements complement urban-gro's existing Fogo de Chão projects in Texas and Colorado. Work will commence immediately, with most revenue expected to be recognized by Q3 2025.
urban-gro (NASDAQ:UGRO) ha ottenuto tre nuovi contratti con la catena di ristoranti brasiliana Fogo de Chão, ampliando la sua presenza nel settore commerciale. I contratti includono:
- Un contratto di costruzione completo a Murray, Utah, che copre l'intero ciclo di vita del progetto
- Due contratti di Gestione della Costruzione (CM) a Las Vegas, Nevada e Rancho Cucamonga, California, dove urban-gro agirà come rappresentante del proprietario
Questi accordi si aggiungono ai progetti già esistenti di urban-gro con Fogo de Chão in Texas e Colorado. I lavori inizieranno immediatamente e la maggior parte dei ricavi è prevista entro il terzo trimestre del 2025.
urban-gro (NASDAQ:UGRO) ha asegurado tres nuevos contratos con la cadena de restaurantes brasileña Fogo de Chão, ampliando su presencia en el sector comercial. Los contratos incluyen:
- Un contrato integral de construcción en Murray, Utah, que cubre todo el ciclo del proyecto
- Dos contratos de Gestión de Construcción (CM) en Las Vegas, Nevada y Rancho Cucamonga, California, donde urban-gro actuará como representante del propietario
Estos acuerdos complementan los proyectos existentes de urban-gro con Fogo de Chão en Texas y Colorado. El trabajo comenzará de inmediato y se espera que la mayor parte de los ingresos se reconozcan para el tercer trimestre de 2025.
urban-gro (NASDAQ:UGRO)가 브라질 레스토랑 체인 Fogo de Chão와 세 건의 신규 계약을 체결하며 상업 부문에서 입지를 확장했습니다. 계약 내용은 다음과 같습니다:
- 유타주 머레이에서 프로젝트 전 과정을 포함하는 종합 건설 계약
- 네바다주 라스베이거스와 캘리포니아주 랜초쿠카몽가에서 소유주 대리인으로서 urban-gro가 참여하는 두 건의 건설 관리(CM) 계약
이 계약들은 텍사스와 콜로라도에 있는 urban-gro의 기존 Fogo de Chão 프로젝트를 보완합니다. 작업은 즉시 시작되며, 대부분의 수익은 2025년 3분기까지 인식될 예정입니다.
urban-gro (NASDAQ:UGRO) a signé trois nouveaux contrats avec la chaîne de restaurants brésilienne Fogo de Chão, renforçant ainsi sa présence dans le secteur commercial. Les contrats comprennent :
- Un contrat de construction complet à Murray, Utah, couvrant tout le cycle de vie du projet
- Deux contrats de gestion de construction (CM) à Las Vegas, Nevada, et Rancho Cucamonga, Californie, où urban-gro agira en tant que représentant du propriétaire
Ces accords viennent s'ajouter aux projets existants d'urban-gro avec Fogo de Chão au Texas et au Colorado. Les travaux commenceront immédiatement, la majeure partie des revenus devant être comptabilisés d'ici le troisième trimestre 2025.
urban-gro (NASDAQ:UGRO) hat drei neue Verträge mit der brasilianischen Restaurantkette Fogo de Chão abgeschlossen und erweitert damit seine Präsenz im kommerziellen Bereich. Die Verträge umfassen:
- Ein umfassender Bauvertrag in Murray, Utah, der den gesamten Projektlebenszyklus abdeckt
- Zwei Bauleitungsverträge (CM) in Las Vegas, Nevada, und Rancho Cucamonga, Kalifornien, bei denen urban-gro als Vertreter des Eigentümers fungiert
Diese Vereinbarungen ergänzen die bestehenden Projekte von urban-gro mit Fogo de Chão in Texas und Colorado. Die Arbeiten beginnen sofort, und der Großteil der Einnahmen wird voraussichtlich bis zum dritten Quartal 2025 realisiert.
- Expansion of commercial sector portfolio with three new contracts
- Continued business relationship with existing client shows strong client retention
- Revenue recognition expected within defined timeline (Q3 2025)
- Geographic expansion into new markets
- None.
Insights
urban-gro's new contract wins with Fogo de Chão demonstrate positive momentum in their commercial construction strategy. Securing three separate contracts – one full construction project in Utah and two Construction Management assignments in Nevada and California – showcases the company's versatility in service offerings and geographical reach.
The timing of these contracts is particularly noteworthy, with revenue recognition expected by Q3 2025. This provides urban-gro with improved near-term revenue visibility, which is valuable in the construction sector where project pipelines can be unpredictable.
What's most impressive is the expanded relationship with an established client. The fact that Fogo de Chão has chosen urban-gro for additional projects after their Texas and Colorado work indicates client satisfaction and service quality. This repeat business reduces new client acquisition costs and typically carries better margins than first-time engagements.
For a company with urban-gro's market capitalization of just
The multiple project formats – from full construction to owner's representative roles – also demonstrates service flexibility that should position urban-gro competitively in the commercial construction market.
LAFAYETTE, COLORADO / ACCESS Newswire / April 16, 2025 / urban-gro, Inc. (NASDAQ:UGRO) ("urban-gro" or the "Company"), an integrated professional services and Design-Build firm offering solutions to multiple sectors, today announced that the firm has secured three new contracts with the internationally renowned restaurant from Brazil, Fogo de Chão. The Company has been awarded a comprehensive construction contract for a new restaurant in Murray, Utah, where they will oversee the entire project lifecycle from preconstruction to post-construction phases. Additionally, the Company has also been awarded two Construction Management ("CM") contracts, taking a leadership role in overseeing the construction process while acting as the owner's representative. In this capacity, the Company will define project objectives, deliverables, and timelines to ensure smooth execution for new restaurant locations in Las Vegas, Nevada and Rancho Cucamonga, California.
These new agreements build upon urban-gro's existing portfolio of ongoing projects with Fogo de Chão in Texas and Colorado, demonstrating the client's continued trust in the Company. Work on all three projects is set to begin immediately, with the bulk of the revenue anticipated to be recognized by the third quarter of 2025.
"We look forward to further solidifying our partnership with Fogo de Chão with the effective execution of these new contracts," said Bradley Nattrass, urban-gro Chairman and CEO. "These projects showcase urban-gro's versatility in the commercial sector by highlighting our ability to deliver tailored, integrated solutions across diverse markets. We're thrilled to bring our hospitality expertise to these new locations."
About urban-gro, Inc.
urban-gro, Inc.® (Nasdaq:UGRO) is an integrated professional services and Design-Build firm. We offer value-added architectural, engineering, and construction management solutions to the Controlled Environment Agriculture ("CEA"), industrial, healthcare, and other commercial sectors. Innovation, collaboration, and creativity drive our team to provide exceptional customer experiences. With offices across North America and in Europe, we deliver Your Vision - Built. Learn more by visiting www.urban-gro.com.
About Fogo de Chão
Fogo de Chão (fogo-dee-shown) is an internationally renowned restaurant from Brazil that elevates the culinary art of churrasco - the art of roasting high-quality cuts of meat over an open flame - into a cultural dining experience. Fogo is famed for its prix fixe Full Churrasco Experience that offers a continuous selection of premium cuts butchered daily by gaucho chefs, simply seasoned and grilled to create a craveable salty bark, then carved tableside. The naturally gluten-free Market Table offers a selection of seasonal salads, charcuterie, exotic fruit, superfoods and more. From celebratory to everyday occasions, Fogo provides selections for every daypart, including All-Day Happy Hour at Bar Fogo, Weekday Lunch, Dinner, and Weekend Brazilian Brunch. Guests can enhance their experience with offerings ranging from a shareable Wagyu New York Strip, South American wines, and more. For locations and to book a reservation to experience the fire of Fogo, visit fogo.com.
Safe Harbor Statement
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this release, terms such as "believes," "will," "expects," "anticipates," "may," "projects" and similar expressions and variations as they relate to the Company, or its management are intended to identify forward-looking statements. The forward-looking statements in this press release include, without limitation, future events, future performance, and the timing of completion of projects. These and other forward-looking statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including, among others, our ability to successfully manage and integrate acquisitions, our ability to accurately forecast revenues and costs, competition for projects in our markets, our ability to predict and respond to new laws and governmental regulatory actions, including delays granting licenses to clients or potential clients and delays in passage of legislation expected to benefit our clients or potential clients, our ability to successfully develop new and/or enhancements to our product offerings and develop a product mix to meet demand, risks related to adverse weather conditions, supply chain issues, rising interest rates, economic downturn or other factors that could cause delays or the cancellation of projects in our backlog or our ability to secure future projects, our ability to maintain favorable relationships with suppliers, risks associated with reliance on key customers and suppliers, our ability to attract and retain key personnel, results of litigation and other claims and insurance coverage issues, risks related to our information technology systems and infrastructure, risks associated with climate change and ESG matters, our ability to maintain effective internal controls, our ability to execute on our strategic plans, our ability to achieve and maintain cost savings, the sufficiency of our liquidity and capital resources, and our ability to achieve our key initiatives for 2023, particularly our growth initiatives. A more detailed description of these and certain other factors that could affect actual results is included in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.
Investor Contacts:
Jeff Sonnek - ICR, Inc.
(720) 730-8160
investors@urban-gro.com
Media Contact:
Barbara Graham - urban-gro, Inc.
(720) 903-1139
media@urban-gro.com
SOURCE: urban-gro, Inc.
View the original press release on ACCESS Newswire
FAQ
What are the details of urban-gro's (UGRO) new contracts with Fogo de Chão in 2025?
Where are the new Fogo de Chão locations being developed by UGRO in 2025?
When will urban-gro (UGRO) recognize revenue from the new Fogo de Chão contracts?
What is urban-gro's (UGRO) role in the new Fogo de Chão construction projects?
