CEA Industries Inc. - CEAD STOCK NEWS

CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced a $1.2 million initial contract with Greene Brothers Farm for a multi-phase project in California. The project will develop a 26-acre indoor cannabis cultivation site, expected to generate approx. $10 million in revenue over 2-3 years. The first phase includes mechanical engineering services and is projected to be operational by Q4 2022. The Cannabis Park aims to create jobs and enhance community development. Phases 2 and 3 are targeted for completion in 2023, with further phases in 2024.

Surna Cultivation Technologies announced its participation in several upcoming trade conferences, showcasing its expertise in controlled environment agriculture (CEA). The events include CWCBE in New York (June 2-4), Indoor AgTech Innovation Summit (June 23-24), NeCann in Vermont (June 25-26), CannaOne in Mississippi (July 7-9), and CannaCon in Detroit (July 22-23). Surna aims to foster new collaborations and enhance brand visibility in indoor cannabis and agtech sectors.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) reported Q1 2022 revenues of $1.7 million, a 26% decline from Q1 2021 due to supply-chain disruptions. Operating expenses surged 65% to $1.7 million, causing an operating loss of approximately $1.6 million. Gross profit margin fell to 5.2% compared to 14.6% in Q1 2021. The backlog grew to $11.2 million, indicating potential future revenue. The company is addressing inflationary pressures and labor costs while expanding its product offerings.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) will host its quarterly earnings conference call on May 12, 2022, at 4:15 p.m. ET to discuss Q1 2022 financial results and updates on its strategic growth plan. Investors can dial in at 1-973-528-0008 with access code 915663. A replay will be available on the company’s investor relations website starting May 13, 2022. CEA Industries focuses on controlled environment agriculture systems and is expanding through partnerships and acquisitions to enhance its value proposition to customers and investors.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced a new customer contract for air sanitization equipment, converted in less than thirty days. The product was sold to an existing customer who previously contracted for climate control systems. Surna's air sanitization units utilize UVC technology to eliminate harmful contaminants. This contract highlights Surna's commitment to expanding its product offerings to existing cultivators. With over 15 years in the industry, Surna aims to enhance crop quality and operational efficiency for over 800 clients.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) reported a 60% revenue increase in FY 2021, reaching $13.6 million. The second half of 2021 saw net bookings of $9.6 million, the highest in company history, marking a 22% increase over the previous year. However, the company faced an operating loss of $1.98 million and a net loss of $1.34 million. Q4 2021 revenue dropped to $3.06 million, a 10% decrease from Q4 2020. Challenges included supply chain delays affecting revenue realization.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced it will hold an earnings conference call on March 29, 2022, at 2:15 PM MT to discuss its financial results for Q4 and the full year of 2021. This call will cover recent business developments and strategic growth updates. Interested parties can join via phone at 1-973-528-0008 (Access Code: 713241) or submit questions to info@ceaindustries.com. A replay will be available on the company’s investor relations page starting March 30, 2022.

NUBURU has appointed Brian Knaley as Chief Financial Officer, bringing over 25 years of experience, including roles at CEA Industries (Nasdaq: CEAD), ViewRay (Nasdaq: VRAY), and ARC Group Worldwide (Nasdaq: ARCW). His expertise will enhance NUBURU's financial processes and support its growth strategy in blue laser technology. Mr. Knaley previously raised $3 million in a PIPE financing for CEA Industries and has a proven track record of optimizing financial functions.

CEA Industries Inc. (NASDAQ: CEAD) appointed Ian K. Patel as CFO and Treasurer, effective March 11, 2022. Patel brings extensive experience in financial leadership from his roles in energy and investment sectors, aiming to enhance the company's growth and shareholder value. Previously, he served as Consultant CFO at Maxwell Financial Labs and held executive positions at Fourpoint Energy and True Oil Company. Patel holds an MBA from Wharton and a Juris Doctorate from Harvard, reinforcing CEA's commitment to effective financial management and strategic execution.