urban-gro, Inc. Reports Record Preliminary First Quarter 2021 Results

FOR IMMEDIATE RELEASE

  • Record Q1 2021 revenues of $11.8 million to $12.1 million, which would represent an increase of at least $7.5 million, or 174%, from revenues of $4.3 million reported in Q1 2020.
  • Record Adjusted EBITDA of $0.35 million to $0.6 million, which would represent an improvement of at least $1.2 million from negative ($0.9) million in Q1 2020.
  • Record Income from operations expected to be $0.2 million to ($0.1) million, when compared with ($1.4) million a year prior, an improvement of at least $1.3 million driven by increased revenues and gross margin.
  • Company ends Q1 2021 with contractually committed orders (“Backlog”) exceeding $15 million at March 31, 2021, an increase of at least $0.4 million from $14.6 million at December 31, 2020.

Lafayette, Colo. (April 13, 2021)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 preliminary and unaudited expected Revenues, Income/(Loss) from Operations, and Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) for its first quarter ended March 31, 2021.

Read the full announcement on the urban-gro blog.