CEA Industries Inc. Warrant - CEADW STOCK NEWS

CEA Industries Inc. (NASDAQ: CEAD, CEADW) reported its Q4 and full-year 2022 results, which show significant revenue decrease due to supply chain issues and project delays in the cannabis sector. Q4 revenue fell 71% quarter-over-quarter and 52% year-over-year, totaling $1.5 million. Gross profit also declined by 75% QoQ, contributing to a net loss of $1.3 million. Full-year revenue dropped 17% to $11.3 million while operating expenses rose 40% year-over-year. The company aims to diversify its customer base and implement cost-saving measures. Cash reserves increased to $18.6 million, showcasing improved liquidity despite current challenges.

CEA Industries (NASDAQ: CEAD, CEADW) announced a conference call scheduled for March 28, 2023, at 4:30 p.m. ET. The call will address the company’s fourth-quarter and full-year results for 2022. This session will allow management to discuss financial performance and respond to questions from investors. Participants can access the call via dial-in or through a webcast. A replay will be available for two weeks thereafter.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) announced cost-saving measures including operating expense reductions and a workforce reduction due to ongoing macroeconomic challenges. The cannabis market is experiencing declining activity as competition rises and wholesale prices drop, leading customers to be more selective. The company is also facing inflationary pressures and supply chain issues that are affecting project decisions. CEO Tony McDonald emphasized that these steps are crucial for the long-term viability of the company and are aimed at improving working capital and liquidity without compromising customer service.

Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), announced participation in upcoming indoor agriculture conferences. These events include the Indoor Ag-Con in Las Vegas on February 27-28, 2023, where Surna will exhibit at booth 907, and the NECANN in Boston from March 10-12, 2023, with Surna at booth 1008. These conferences focus on the latest in indoor farming technology and industry connections, attracting professionals from across the cannabis industry.

Surna Cultivation Technologies, a subsidiary of CEA Industries (NASDAQ: CEAD), has secured a $1.7 million contract with a Massachusetts cultivation facility. This marks their third consecutive contract with this client, showcasing their reliability in delivering on time and budget. Previously, Surna provided mechanical engineering services and benching equipment valued at $615,000. The latest contract involves a comprehensive suite of HVACD equipment including air handlers, dehumidifiers, chillers, and more for various cultivation and processing rooms.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) reported a strong Q3 2022, with revenue increasing by 68% QoQ and 37% YoY to $5.1 million. However, gross profit fell to $0.6 million, marking a 20% decline YoY. Operating expenses rose 39% YoY to $1.7 million, impacting net loss which was $1.0 million for the quarter. CEA Industries noted a decrease in net bookings to $2.2 million and backlog dropped to $6.8 million. Despite challenges from inflation and supply chain issues, the company aims to diversify beyond cannabis customers and anticipates revenue generation from backlog over the next 18 months.

Surna Cultivation Technologies has partnered with Hydrobuilder Holdings in a non-equity strategic alliance to establish a comprehensive one-stop-shop for indoor cultivation companies.

This collaboration combines Surna's expertise in controlled environment agriculture (CEA) systems with Hydrobuilder's extensive product catalog and services. The partnership aims to enhance customer offerings, facilitating the construction and refurbishment of cultivation facilities. Both companies anticipate significant growth potential from this alliance.

CEA Industries Inc. (NASDAQ: CEAD, CEADW) will hold a conference call on November 14, 2022, to discuss its third-quarter results for the period ending September 30, 2022. Management will lead the call, which includes a question-and-answer session. Interested parties can participate by dialing 1-973-528-0008 with access code 712632 or through a webcast available on the company's website starting November 15, 2022, at 5:00 p.m. ET. CEA Industries, based in Louisville, Colorado, focuses on controlled environment agriculture.

Surna Cultivation Technologies has expanded its offerings to include water treatment solutions aimed at enhancing crop health and sustainability. This new service includes comprehensive systems tailored to the specific needs of cultivators, such as water sampling, system design, and integration. Surna's solutions utilize technologies like Reverse Osmosis and Ultraviolet treatment to ensure clean water, crucial for cultivation. With over 16 years in the industry, Surna aims to optimize water efficiency for over 800 customers.