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urban-gro, Inc. (UGRO)

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Previous Close8.47
Open8.49
Bid8.11 x 1300
Ask8.20 x 800
Day's Range7.94 - 8.49
52 Week Range6.90 - 13.80
Volume38,806
Avg. Volume413,620
Market Cap88.888M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateNov 03, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • urban-gro, Inc. Appointed to Board of Directors of the United States National Cannabis Roundtable
    GlobeNewswire

    urban-gro, Inc. Appointed to Board of Directors of the United States National Cannabis Roundtable

    Company joins Roundtable comprised of select thought leaders helping to drive cannabis policy advocacy at the federal level in the United Statesurban-gro provides valuable crop-agnostic CEA expertise with a cannabis focus to help shape effective and practical legislation and advocacy for the cannabis industry LAFAYETTE, Colo., April 08, 2021 (GLOBE NEWSWIRE) -- urban-gro, Inc. (NASDAQ: UGRO) (“urban-gro” or the “Company”), a leading global horticulture company that engineers and designs commercial Controlled Environment Agriculture (“CEA”) facilities and integrates complex environmental equipment systems, today announced it has been appointed to the Board of Directors of the National Cannabis Roundtable (NCR). urban-gro will be represented on the NCR Board by Chairman and CEO, Bradley Nattrass. The NCR is a non-partisan advocacy group focused on federal cannabis reform in the United States comprised of innovators, investors and employers across the spectrum of legal U.S. cannabis businesses. The NCR mission focuses on several fundamental priorities, all of which are critical components of cannabis reform in America, including: decriminalizing cannabis at the federal level, remediating the harm of the failed war on drugs, ensuring patient and consumer safety, protecting the integrity of state cannabis programs, and equitable financial treatment for cannabis businesses. Mr. Nattrass commented, “With a long history of legislative advocacy, we’re honored to join the National Cannabis Roundtable, furthering the mission around federal cannabis legalization. Membership not only reflects urban-gro's position as an industry innovator committed to protecting the integrity of state programs in the ongoing movement, but also enables us to better serve our customers by remaining on the leading edge of any planned or proposed regulatory changes that may affect our industry, customers, or employees.” Saphira Galoob, Executive Director, National Cannabis Roundtable commented, “urban-gro will be a key strategic member of our organization, and I’m excited they are joining us. The commercial multi-state, multi-client crop-agnostic expertise they bring to NCR will help us advance the most effective and practical reforms for our members both within and beyond the cannabis industry.” “My colleagues and I are thrilled to have urban-gro join the NCR membership. In getting to know their CEO, Brad Nattrass, what really stood out to me is Brad’s deep commitment to the plant to ensure the highest standards of safety for U.S. patients and consumers. As a scientist who consults patients in the industry, that commitment spoke to the core of my everyday practice – patient safety,” said Dr. Chanda Macias, PhD, CEO, Ilera Holistic and First Vice Chair, National Cannabis Roundtable. Kim Rivers, CEO of Trulieve and Second Vice Chair of the NCR Board of Directors added, “We have worked extensively with urban-gro these past few years and are excited they have joined our organization to help us bring their vast expertise to bear in furthering our united advocacy goals.” About the National Cannabis Roundtable The National Cannabis Roundtable promotes common sense federal regulation, tax equality and financial services reform and supports changing federal law to acknowledge states’ rights to regulate and manage cannabis policy. The membership of NCR represents every aspect of the cannabis supply chain. Our members operate in states with legal cannabis programs. We are growers, processors, retailers, wellness centers, investors, entrepreneurs, and publicly traded companies. Learn more at www.nationalcannabisroundtable.org About urban-gro, Inc.urban-gro, Inc. (NASDAQ: UGRO) is a leading engineering design and services company focused on the commercial horticulture market. We engineer and design commercial Controlled Environment Agriculture (“CEA”) facilities and then integrate complex environmental equipment systems into these high-performance facilities. Operating in the global market, our custom-tailored approach to design, procurement, and equipment integration provides a single point of accountability across all aspects of growing operations. Visit urban-gro.com to learn more.Safe Harbor StatementThis 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,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “intends,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. Such 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 statements related to the demand for our services and products, our ability to manage the adverse effect brought on by the COVID-19 pandemic, our ability to execute on our strategic plans, our ability to achieve positive cash flows or profitability, 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 2020. 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.urban-gro Investor Relations Contact:Jenene ThomasChief Executive OfficerJTC Team, LLCT: 833.475.8247 investors@urban-gro.com

  • urban-gro, Inc. Reports Record Fourth Quarter and Full-Year 2020 Financial Results
    GlobeNewswire

    urban-gro, Inc. Reports Record Fourth Quarter and Full-Year 2020 Financial Results

    Reported record revenues in 2020 of $25.8 million, a 7% increase over 2019.Reported record revenues in Q4 2020 of $9.2 million, a 30% increase over prior year.Ended fiscal year 2020 with a backlog of over $14 million in signed contracts.Achieved positive Adjusted EBITDA for the second quarter in a row.Signed 77 new engineering and design project contracts in 2020, including six new projects in Europe, and the Company’s first horticulture commissioning project.Company to host conference call and audio webcast today, Wednesday, March 31st at 8:30 AM ET. LAFAYETTE, Colo., March 31, 2021 (GLOBE NEWSWIRE) -- urban-gro, Inc. (NASDAQ: UGRO) (“urban-gro” or the “Company”), a leading global horticulture company that engineers and designs commercial Controlled Environment Agriculture (“CEA”) facilities and integrates complex environmental equipment systems, today reported its financial results for its fourth quarter and full fiscal year ended December 31. Bradley Nattrass, Chairman and CEO of urban-gro stated, “While experiencing project-related challenges in the first half of the year due to the pandemic, 2020 ultimately turned out to be the Company’s best year since inception. Revenues increased substantially, from $8.2 million in the negatively affected first half of the year, to $17.6 million in the second half. I am extremely pleased with the progress we have made on our strategic goals across multiple fronts, and with the strong momentum and our recent $62.1 million equity raise and up-listing to Nasdaq, we are now funding our growth plans. We look forward to serving our clients and expanding our reach globally to meet the growing demand of our rapidly evolving industry. While 2020 stands out as a solid representation of our execution and strengthened financial profile, we are well positioned to achieve even more in 2021.” Fourth Quarter 2020 Highlights vs. Prior Year Period: Net revenue increased 30% to a record $9.2 million compared to $7.1 million.Adjusted EBITDA was $0.2 million, compared to an Adjusted EBITDA loss of $1.2 million, an improvement of $1.4 million.Net loss was $1.1 million, or a loss of $0.24 per share, which compares favorably to a net loss of $2.6 million, or a loss of $0.57 per share. Fiscal Year 2020 Highlights vs. Prior Year: Net revenue increased 7% to a record $25.8 million compared to $24.2 million.Adjusted EBITDA was a loss of $0.7 million, versus a loss of $3.3 million, an improvement of $2.6 million, and finished fiscal year 2020 with two consecutive positive Adjusted EBITDA quarters.Net loss was $5.1 million, or a loss of $1.06 per share, compared to a net loss of $8.4 million, or a loss of $1.90 per share. This improvement in Adjusted EBITDA and net loss was primarily driven by a reduction in operating expenses on a year over year basis. The Company was laser focused on attaining our goal of being operationally cash flow positive by the end of the year.Despite a record revenue year, overall gross margin decreased to 22%, from 27%, primarily due to a proportional increase in revenue from lower margin cultivation equipment sales.Reported a backlog of over $14 million at December 31, 2020. Recent Events and Cash Position On February 17, 2021, the Company consummated an underwritten public offering of 6,210,000 shares of common stock, including the full exercise by the underwriters of their option to purchase an additional 810,000 shares of common stock to cover over-allotments. The shares were sold at a public offering price of $10.00 per share, generating gross proceeds of $62.1 million, before deducting the underwriting discounts and other offering expenses. Net proceeds, net of all costs, were used to repay debt, increase cash holdings, and for general working capital purposes to position the company for future growth. Cash at December 31, 2020 was $0.2 million, and cash at March 30, 2021 was $50 million. Business Updates In 2020, the Company soft-launched its gro-care® managed services offering to the North American market. gro-care® prevents downtime while driving business continuity for our client’s cultivation facilities once operational. Providing clients with a variety of important services, this platform leverages urban-gro’s commissioning engineers, personnel, and acquired expertise through a monthly subscription offered at a fraction of the cost of in-house staffing these specific technical skill sets. For more information about gro-care®, please visit urban-gro.com/gro-care/. Despite the COVID-19 pandemic, urban-gro was able to successfully execute on its expansion strategy into Europe, signing six design contracts in 2020. Based on its market study in 2020, the Company plans to leverage global partnerships along with its existing U.S.-based engineering and design expertise and overhead for expansion in both the cannabis and food-focused sustainable integrated CEA markets across Europe and North America. In addition, the Company is working with a key manufacturing partner to develop and secure all certifications for a purpose-built mechanical system designed to address the market gap for use in indoor CEA facilities within Europe. Conference Call Details urban-gro will host a conference call and live audio webcast to discuss the operational and financial results today, March 31, 2021 at 8:30 a.m. ET. Interested participants and investors may access the conference call by dialing (877) 524-8416 (domestic) or (412) 902-1028 (international). The live webcast will be accessible on the Events page of the Investors section of the urban-gro website, urban-gro.com and will be archived for 90 days following the event. Use of Non-GAAP Financial Information We define Adjusted EBITDA as net income (loss) attributable to urban-gro, Inc., determined in accordance with GAAP, excluding the effects of certain operating and non-operating expenses including, but not limited to, interest expense, depreciation of tangible assets, amortization of intangible assets, impairment of investments, and stock-based compensation that we do not believe reflect our core operating performance. We use Adjusted EBITDA as a measure of our operating performance. Adjusted EBITDA is a supplemental non-GAAP financial measure and it is not a substitute for net income (loss), income (loss) from operations, cash flows from operating activities or any other measure prescribed by GAAP. Our board of directors and management team focus on Adjusted EBITDA as a key performance and compensation measure. We believe that Adjusted EBITDA assists us in comparing our performance over various reporting periods because it removes from our operating results the impact of items that our management believes do not reflect our core operating performance. There are limitations to using non-GAAP measures such as Adjusted EBITDA. Although we believe that Adjusted EBITDA can make an evaluation of our operating performance more consistent because it removes items that do not reflect our core operations, other companies in our industry may define Adjusted EBITDA differently than we do. As a result, it may be difficult to use Adjusted EBITDA to compare the performance of those companies to our performance. Adjusted EBITDA should not be considered as a measure of the income generated by our business or discretionary cash available to us to invest in the growth of our business. Three Months EndedDecember 30, Years EndedDecember 30, 2020 2019 2020 2019Net Loss $(1,113,813) $(2,631,169) $(5,073,695) $(8,350,573)Interest expense 439,967 329,380 1,497,469 704,230Interest expense – amortization of Convertible debentures – 537,287 – 1,333,520G&A – amortization of convertible debentures – 264,744 – 432,578Write down of investment – – 310,000 505,766Stock-based compensation 411,595 224,070 1,803,403 1,830,426Contingent consideration – purchase price – – 155,000 –Depreciation and amortization 76,690 70,641 258,440 266,476Unrealized exchange loss 397,292 – 397,292 –Adjusted EBITDA $211,731 $(1,205,047) $(652,091) $(3,277,577) Profit and Loss – Q4 2020 and 2019 Three months ended December 31, 2020 December 31, 2019 Revenues 9,212,228 7,133,066 Cost of goods sold 7,508,819 6,034,146 Gross Profit 1,703,409 1,098,920 18% 15% Operating expenses 1,959,022 2,905,438 Earnings / (Loss) from operations (255,613) (1,806,518) Non-operating income (expense) Interest expense (439,967) (329,380)Interest expense – amortization of convertible debentures - (537,287)Unrealized exchange loss (397,292) - Other income (expense) (20,941) 42,016 Total non-operating income (expenses) (858,200) (824,651) Comprehensive income / (loss) $(1,113,813) $(2,631,169) Loss per share: Net loss per share – basic and diluted (0.24) (0.57) Profit and Loss – Year Ended 2020 and 2019 Years ended December 31, 2020 December 31, 2019 Revenues 25,837,917 24,189,803 Cost of goods sold 20,122,281 17,563,594 Gross Profit 5,715,636 6,626,209 22% 27% Operating expenses 8,461,306 12,486,814 Earnings / (Loss) from operations(2,745,670) (5,860,605) Non-operating income (expense) Interest expense (1,497,469) (704,230)Interest expense – amortization of convertible debentures- (1,333,520)Contingent Consideration – Purchase Price(155,000) - Write-down of investment (310,000) (505,766)Unrealized exchange loss (397,292) - Other income (expense) 31,736 53,548 Total non-operating income (expenses)(2,328,025) (2,489,968) Comprehensive income / (loss) (5,073,695) $(8,350,573) Loss per share: Net loss per share – basic and diluted(1.06) (1.90) About urban-gro, Inc. urban-gro, Inc. (NASDAQ: UGRO) is a leading engineering design and services company focused on the commercial horticulture market. We engineer and design commercial Controlled Environment Agriculture (“CEA”) facilities and then integrate complex environmental equipment systems into these high-performance facilities. Operating in the global market, our custom-tailored approach to design, procurement, and equipment integration provides a single point of accountability across all aspects of growing operations. Visit urban-gro.com to learn more.Safe Harbor StatementThis 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,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “intends,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. Such 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 statements related to the demand for our services and products, our ability to manage the adverse effect brought on by the COVID-19 pandemic, our ability to execute on our strategic plans, our ability to achieve positive cash flows or profitability, 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 2020. 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.urban-gro Investor Relations Contact:Jenene ThomasChief Executive OfficerJTC Team, LLCT: 833.475.8247 investors@urban-gro.com

  • urban-gro, Inc. to Report Fourth Quarter and Year-End 2020 Financial Results and Host Conference Call
    GlobeNewswire

    urban-gro, Inc. to Report Fourth Quarter and Year-End 2020 Financial Results and Host Conference Call

    – Company to host conference call and audio webcast on Wednesday, March 31st at 8:30 AM ETLAFAYETTE, Colo., March 26, 2021 (GLOBE NEWSWIRE) -- urban-gro, Inc. (NASDAQ: UGRO) (“urban-gro” or the “Company”), a leading global horticulture company that engineers and designs commercial Controlled Environment Agriculture (“CEA”) facilities and integrates complex environmental equipment systems, today announced it will report its fourth quarter and year-end 2020 financial results on Wednesday, March 31, 2021. The urban-gro management will host a conference call and live audio webcast to discuss the operational and financial results at 8:30 a.m. ET that same day. The call will be led by Bradley Nattrass, Chief Executive Officer and Chairman of urban-gro, who will be joined by Dick Akright, Chief Financial Officer of urban-gro. Interested participants and investors may access the conference call by dialing (877) 524-8416 (domestic) or (412) 902-1028 (international). The live webcast will be accessible on the Events page of the Investors section of the urban-gro website, urban-gro.com, and will be archived for 90 days following the event. About urban-gro, Inc.urban-gro, Inc. (NASDAQ: UGRO) is a leading engineering design and services company focused on the commercial horticulture market. We engineer and design commercial Controlled Environment Agriculture (“CEA”) facilities and then integrate complex environmental equipment systems into these high-performance facilities. Operating in the global market, our custom-tailored approach to design, procurement, and equipment integration provides a single point of accountability across all aspects of growing operations. Visit urban-gro.com to learn more.Safe Harbor StatementThis 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,” “estimates,” “should,” “could,” “would,” “plans,” “expects,” “intends,” “anticipates,” “may,” “forecasts,” “projects” and similar expressions and variations as they relate to the Company or its management are intended to identify forward-looking statements. Such 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 statements related to the demand for our services and products, our ability to manage the adverse effect brought on by the COVID-19 pandemic, our ability to execute on our strategic plans, our ability to achieve positive cash flows or profitability, 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 2020. 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.urban-gro Investor Relations Contact:Jenene ThomasChief Executive OfficerJTC Team, LLCT: 833.475.8247 investors@urban-gro.com