UGRO - urban-gro gains on reiterating Q3 outlook

• urban-gro ( NASDAQ: UGRO ) has reiterated its previously announced 3Q22 revenue outlook in the range of ~$10M - $11M vs consensus of $10.40M and an Adjusted EBITDA loss of ~$(2.6)M - $(2.4)M.
• The company also provided an update on the success of its design-build division.
• The company signs over $50M in design-build contracts in Q3
• These contracts are typically recognized over a timeline of 6 to 24 months and are separate from any associated professional services or equipment system orders.

• “Client interest and engagement in our turnkey design-build capabilities have continued to progress as expected, and these new contracts demonstrate tangible value for urban-gro and our clients. While we are reiterating our third quarter guidance, the momentum we have established entering the fourth quarter gives me great confidence that the investments we are making in the business are positioning urban-gro for sustainable and consistent global growth over the long-term.” said Bradley Nattrass, Chairman and Chief Executive Officer

• Shares are trading up 8% premarket.

For further details see: