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 (Nasdaq: UGRO) has partnered with King Solomon Nutrients to deliver optimized crop fertilizers designed for commercial growers in indoor Controlled Environment Agriculture (CEA). With over 20 years in the agricultural sector, King Solomon provides liquid and dry fertilizers tailored for various growth stages. This partnership aims to enhance plant health and streamline nutrient delivery, integrating seamlessly with urban-gro's cultivation systems. The fertilizers are manufactured in the U.S., ensuring efficient supply chain management and ease of use for growers.
urban-gro, Inc. (Nasdaq: UGRO) announced the signing of two new contracts with established clients in the indoor Controlled Environment Agriculture (CEA) market. The first contract, with a multi-state operator, makes urban-gro the exclusive provider of architecture, engineering, and equipment supply for new cultivation facilities. The second contract, with a leading Canadian licensed producer, is projected to generate approximately $9 million in cultivation equipment revenue. These agreements are expected to enhance urban-gro's backlog, currently at $22.5 million.
urban-gro reported record third quarter revenue of $18.3 million, a 119% increase from last year, with organic growth at 106%. The company achieved a net income of $0.1 million, a turnaround from a net loss of ($0.7) million in the prior year. Adjusted EBITDA rose to $1.0 million, marking the fifth consecutive quarter of positive adjusted EBITDA. The company raised its full-year revenue guidance to over $60 million and announced an exclusive contract to build 20 vertical farms in Europe, signaling strong growth potential.
urban-gro, a leader in Controlled Environment Agriculture (CEA) solutions, will participate in the Rocky Mountain Microcap VIII Conference on Nov. 3, 2021, and the Roth 10th Annual Technology & Inaugural AgTech Answers Virtual Event on Nov. 16, 2021. A conference call to discuss Q3 2021 earnings is scheduled for Nov. 9, 2021, at 4:30 p.m. ET. Urban-gro's expertise in integrated CEA systems supports both cannabis and food production, enhancing operational efficiency for its clients.
urban-gro (Nasdaq: UGRO) announced a $2.5 million investment in XS Financial Inc. (CSE: XSF) through a convertible note offering worth $43.5 million. This strategic move enhances urban-gro's alliance with XSF, enabling clients to access non-dilutive, low-cost capital for equipment purchases in the cannabis industry. Chief Executive Officer Bradley Nattrass highlighted the significance of this partnership in addressing financing challenges faced by clients in cultivation and extraction. The funding includes $33.5 million at closing and a $10 million delayed draw until June 30, 2022.
XS Financial has successfully completed a private placement of unsecured convertible notes, raising US$43.5 million. The financing, led by a large institutional investor, will primarily support capital expenditure financing for U.S. cannabis operators. US$33.5 million is funded at closing, with US$10 million available until June 30, 2022. XS Financial's pipeline exceeds US$100 million in CAPEX financing demand. Interest on the notes accrues at rates of 9.5% and 8% upon a potential NASDAQ listing. The proceeds will enhance XS Financial's capacity to support growing customer needs in the cannabis sector.
urban-gro, Inc. (Nasdaq: UGRO) announced the appointment of Sonia Lo to its Board of Directors, enhancing its leadership in the Controlled Environment Agriculture (CEA) sector. Lo, who previously served as CEO of Sensei Ag and Crop One Holdings, brings over 20 years of expertise in agriculture and technology. CEO Bradley Nattrass expressed excitement about her contributions towards expanding urban-gro's global presence. Lo emphasized the importance of optimal unit-level economics in CEA and stated that urban-gro is uniquely positioned to improve product quality while managing costs.
urban-gro (Nasdaq: UGRO) will report its third-quarter financial results for the period ending September 30, 2021, after market close on November 09, 2021. An audio webcast and conference call will take place at 4:30 PM ET the same day, featuring operational highlights and a Q&A session. Interested parties unable to attend can access a replay until November 23, 2021. urban-gro specializes in Controlled Environment Agriculture and aims to optimize cultivation facilities.
urban-gro (Nasdaq: UGRO) has partnered with XS Financial to launch a Financial Services division, aimed at providing CAPEX financing solutions for clients in the indoor Controlled Environment Agriculture (CEA) market. This strategic deal enhances purchasing power with leading horticulture manufacturers and broadens market reach within the cannabis industry. Both companies have a proven track record in financing equipment purchases for multi-state operators, ensuring a robust service offering for their clients.
